The United States Mint this week announced that it would officially launch the 2011 Native American Dollar coin in a ceremony on January 12, 2011. The US Mint first revealed the new dollar coin design in late November.
The site selected for the 2001 launch is located at the Plimoth Plantation Henry Hornblower II Visitor Center in Plymouth, Massachusetts. The ceremony will be held at 10:30 AM ET [...]
The United States Mint on Friday pulled away the curtains and revealed next year's 2011 Native American Dollar coin design.
The reverse design features a ceremonial passing of a peace pipe following the 1621 treaty between the Wampanoag tribe and European settlers at Plymouth Bay. The hands holding the peace pipe represents [...]
Over 355 million Andrew Jackson, Martin Van Buren, William Henry Harrison, and John Tyler Presidential $1 Coins were distributed by the Federal Reserve Banks in the last accounting period, according to their annual report to Congress released earlier this year.
However, the Reserve indicates the amount is low compared to what they have on hand, and what is returned by banks.
As first reported by Paul Gilkes in the latest issue of Coin World, the Reserve Banks are accumulating a tremendous stockpile of the golden coins. In fact, the Board of Governors of the Federal Reserve System made the following statement:
"Current supplies represent enough $1 coins for the Reserve Banks to meet transactional demand for $1 coins for about ten years."
This buildup represents a 900% plus increase in inventory over what the Banks held at the introduction of the Presidential Dollars to the system. According to Fed records, 67 million dollar coins were in their control at the start of 2007. By the end of May of this year, an astonishing 691 million dollars were being held in limbo.