A United States coin, authorized by Congress and first issued in 2007, bears the likeness of the third President. This coin is composed of 24-karat gold and has a face value of one dollar. It’s part of a series honoring U.S. Presidents in order of their service, each coin featuring a different former President.
The creation and distribution of these coins provided numismatists with a new collecting opportunity. Beyond its face value, its intrinsic worth is tied to the prevailing market price of gold. The series as a whole aimed to promote interest in American history and the individuals who have led the nation.
Further discussion will detail its specific design elements, minting specifications, distribution method, and its significance within the broader context of U.S. commemorative coinage.
1. Presidential $1 Coin Program
The Presidential $1 Coin Program serves as the overarching legislative framework within which the issuance of the gold dollar featuring the third President occurred. Understanding the program is vital to appreciating the historical context and specific design choices inherent in the coin itself.
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Authorization and Mandate
The program was authorized by the Presidential $1 Coin Act of 2005. This legislation mandated the United States Mint to produce and release $1 coins honoring deceased U.S. Presidents in the order they served. This legal framework dictated that the likeness of the third President would be featured on a coin following those of preceding presidents, thereby providing a structured sequence to the series.
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Design Specifications and Restrictions
The Act stipulated specific design criteria, including the placement of inscriptions such as “Liberty” and “In God We Trust” on the coin’s edge rather than the obverse or reverse. These regulations directly impacted the aesthetic presentation of the third President’s coin, distinguishing it from traditional U.S. coinage and creating a unique visual format for the series as a whole.
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Public Education and Commemoration
A primary objective of the program was to promote public interest in U.S. history and the lives of former presidents. The release of the gold dollar featuring the third President was intended to stimulate awareness of his contributions to the nation, including his role as a Founding Father, his authorship of the Declaration of Independence, and his presidency during a period of significant territorial expansion.
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Circulation and Collectibility
While intended for general circulation, the gold dollar featuring the third President, and the series in general, quickly became popular among numismatists. The novelty of the design, the gold content, and the historical significance of the figures depicted contributed to its collectibility, influencing its availability in circulation as many were set aside for collecting and investment purposes.
In conclusion, the Presidential $1 Coin Program provided the legal foundation, design parameters, and historical impetus for the creation of the gold dollar bearing the likeness of the third President. The program’s goals of historical commemoration and public education were realized, at least in part, through the release of this coin and the subsequent interest it generated among both collectors and the general public.
2. 24-Karat Gold Composition
The 24-karat gold composition of the coin featuring the third President is a defining characteristic that significantly influences its value, collectibility, and overall appeal, differentiating it from circulating coinage made of base metals.
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Purity and Intrinsic Value
The term “24-karat” signifies that the gold used in the coin is virtually pure, containing minimal traces of other metals. This high level of purity directly correlates to the coin’s intrinsic value, which is tied to the prevailing market price of gold. As gold prices fluctuate, so too does the inherent worth of the coin, making it a tangible asset subject to market dynamics.
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Distinction from Circulating Coinage
Unlike regular circulating coins composed of alloys such as copper and nickel, the exclusive use of gold sets this coin apart. This difference in material composition elevates it from a mere instrument of commerce to a precious metal commodity, attracting investors and collectors seeking to diversify their portfolios or acquire rare and valuable items.
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Minting and Handling Considerations
The softness of pure gold necessitates careful handling during the minting process. Special techniques are employed to minimize scratching and damage to the coin’s surface, preserving its aesthetic quality and numismatic value. This attention to detail is crucial in maintaining the coin’s appeal to collectors who prioritize pristine condition.
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Investment and Collectibility Factors
The 24-karat gold content enhances the coin’s investment potential and collectibility. Collectors are drawn to the prestige and rarity associated with pure gold coins, and the coin can be included in investment portfolios as a precious metal asset. Demand can be affected by prevailing economic conditions, investor sentiment, and the perceived long-term value of gold as a store of wealth.
The implications of using 24-karat gold in the coin featuring the third President extend beyond its face value, creating a unique intersection of numismatics, precious metal investment, and historical commemoration. This compositional element is central to understanding its market valuation and its enduring appeal as a collectible item.
3. United States Mint Production
The United States Mint’s role in producing the gold dollar featuring the third President is fundamental to understanding its quality, distribution, and overall significance. The Mint’s involvement extends beyond simple fabrication to encompass design oversight, security measures, and strategic allocation.
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Design and Engraving
The U.S. Mint is responsible for the artistic design of the coin, including the portrait of the third President and other symbolic elements. Mint engravers translate the selected design into master dies, which are then used to strike the coins. The accuracy and detail of this process are critical to the coin’s aesthetic appeal and collector value. Deviations or errors during this stage can create rare and highly sought-after varieties.
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Minting Process and Quality Control
The minting process for the gold dollar involves specialized machinery and techniques to ensure the uniform composition and precise striking of each coin. The U.S. Mint employs rigorous quality control measures to detect and remove defective coins from circulation. These measures include visual inspections, weight checks, and metallurgical analysis. Coins that meet the stringent standards are then packaged and prepared for distribution.
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Security Measures and Authentication
To prevent counterfeiting, the U.S. Mint incorporates security features into the coin’s design and manufacturing process. These features may include micro-lettering, intricate edge designs, or specialized alloy compositions. These security measures help to authenticate genuine coins and deter fraudulent reproduction. Collectors often rely on these features to verify the authenticity of their coins.
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Distribution and Allocation
The U.S. Mint manages the distribution of the gold dollars through various channels, including direct sales to collectors, authorized distributors, and financial institutions. The allocation of coins to these different channels can impact their availability and market value. Limited mintages or special releases can further increase demand and drive up prices in the secondary market.
In summary, the United States Mint’s multifaceted involvement in the production of the gold dollar featuring the third President directly impacts its quality, security, and market dynamics. The Mint’s expertise in design, manufacturing, and distribution ensures that these coins are both historically significant and highly collectible.
4. Numismatic Collectible Item
The classification of the gold dollar featuring the third President as a numismatic collectible item elevates its status beyond mere currency. This designation underscores the coin’s significance within the realm of coin collecting and its appeal to individuals interested in historical artifacts, artistic design, and precious metals.
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Historical Commemoration
The coin serves as a tangible artifact commemorating the third President and his contributions to the United States. Collectors value the coin as a historical artifact, preserving the memory of significant figures and events in American history. The coin’s design, featuring the likeness of the third President, is a direct link to the past, appealing to those interested in historical preservation and education.
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Artistic and Design Appreciation
Numismatists appreciate the artistic merit of the coin’s design and the skill of the engravers who created it. The coin’s intricate details, including the portrait of the third President and the surrounding inscriptions, showcase the artistry and craftsmanship involved in coin production. Collectors often study and admire these design elements, seeking out coins with exceptional clarity and detail.
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Rarity and Scarcity Factors
The coin’s limited mintage and potential for scarcity contribute to its desirability as a collectible item. Factors such as the number of coins produced, the condition of the coins, and the presence of any minting errors can all influence its rarity and value. Collectors actively seek out rare and scarce examples of the coin, driving up prices in the secondary market.
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Investment Potential
The coin’s gold content and collectibility make it an attractive investment for numismatists and precious metal investors. The value of the coin can fluctuate based on the price of gold, the demand from collectors, and the overall economic climate. Investors often view the coin as a hedge against inflation or a store of value, diversifying their portfolios with tangible assets.
In conclusion, the classification of the gold dollar featuring the third President as a numismatic collectible item highlights its multifaceted appeal to collectors and investors. Its historical significance, artistic design, rarity, and investment potential all contribute to its desirability and enduring value in the numismatic market.
5. Legal Tender Value ($1)
The designation of “Legal Tender Value ($1)” for the gold dollar featuring the third President presents a complex interplay between its intrinsic value as a gold coin and its nominal value as a circulating currency. This duality shapes its perception and usage in the marketplace.
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Nominal vs. Intrinsic Value
The face value of $1 is a symbolic declaration by the government, indicating it can be used to settle debts. However, the intrinsic value of the coin, derived from its 24-karat gold content, substantially exceeds this nominal value. In practical terms, it is improbable that one would use this coin for a one-dollar transaction, given the significantly higher value of its gold content.
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Collector Preference over Circulation
The legal tender status has minimal impact on its actual circulation. Given the coin’s precious metal composition and historical significance, it is predominantly held by collectors and investors rather than used in everyday transactions. The numismatic value far outweighs its utility as a circulating dollar, leading to its preservation and withdrawal from general circulation.
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Government’s Symbolic Commitment
Despite its limited use at face value, the legal tender designation signifies the government’s commitment to backing its currency, even in the case of commemorative or special-issue coins. This declaration reinforces trust in the monetary system, albeit indirectly. The formal acceptance of the coin at its stated value, despite its market price, validates its place within the established monetary framework.
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Impact on Resale and Valuation
The legal tender status provides a baseline value, though it is largely irrelevant in the secondary market. Collectors and dealers determine its price based on gold content, rarity, condition, and demand. The formal recognition of its dollar value, however, does influence accounting and legal treatments related to its ownership and transfer. While the market sets the price, the legal tender status offers a foundation, however minimal, in the context of valuation.
The legal tender value of the gold dollar featuring the third President is therefore largely a formality, overshadowed by its intrinsic and numismatic value. While technically acceptable for one-dollar transactions, its real value lies in its gold content and collectibility, rendering its legal tender status a symbolic rather than practical attribute.
6. Order of Presidential Term
The position of the third President’s gold dollar within the Presidential $1 Coin Program is directly determined by the chronological order of presidential terms. This sequential arrangement, mandated by the authorizing legislation, established a structured framework for the series. The placement of the third President’s coin was contingent upon the prior issuance of coins honoring Presidents who served before him. This sequencing served a critical function: to provide a systematic and historically accurate representation of the American presidency.
The programmatic necessity of adhering to the order of presidential terms ensured a consistent and logical progression through American history. For example, the third President’s coin could not be released before that of the first or second President. This adherence to chronological order offered an educational benefit, reinforcing awareness of the succession of leadership and significant periods in national development. Furthermore, this systematic approach facilitated the collection and study of the series, allowing numismatists to trace the evolution of the American presidency through the coins themselves.
In conclusion, the principle of adhering to the order of presidential terms was not merely an arbitrary design choice but a fundamental component of the Presidential $1 Coin Program. This principle provided historical context, fostered educational opportunities, and promoted systematic collection. The significance of this order highlights the broader aim of the program: to commemorate the American presidency in a structured and historically accurate manner.
7. Released in 2007
The year 2007 holds particular significance for the gold dollar bearing the likeness of the third President. It marks the point at which the coin entered the numismatic market and became available to collectors and investors, defining a starting point for its history as a collectible.
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Initial Production and Distribution
The United States Mint commenced production of the coin and initiated its distribution through various channels, including direct sales, authorized dealers, and financial institutions. The volume of coins produced and the efficiency of distribution influenced its initial availability and market price.
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Public Reception and Media Coverage
The release garnered public attention and media coverage, which contributed to increased awareness and demand. The coin’s unique design, gold content, and connection to a prominent figure in American history generated interest among collectors and the general public. Media reports about the release, the coin’s design, and its potential value further amplified its visibility.
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Impact on the Presidential $1 Coin Program
The 2007 release was a key event within the broader Presidential $1 Coin Program, marking a stage in the series’ progression. The successful launch influenced subsequent releases in the series, affecting design choices, marketing strategies, and production volumes.
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Early Market Performance and Valuation
The coin’s performance in the secondary market and its initial valuation established a precedent for future trading and pricing. Collector demand, gold prices, and economic conditions shaped the early market dynamics. Tracking its performance from the release date provides insights into its long-term investment potential.
The release of the gold dollar featuring the third President in 2007 was a multifaceted event that set the stage for its subsequent history as a collectible coin. The factors surrounding its release have continued to shape its value, collectibility, and place within the numismatic landscape.
Frequently Asked Questions
The following addresses common inquiries regarding the U.S. Mint’s one-dollar gold coin featuring the likeness of the third President.
Question 1: What is the composition of the coin bearing the likeness of the third President?
The coin is minted from 24-karat gold, signifying a high level of purity. It contains minimal traces of other metals.
Question 2: Is the coin a circulating currency?
While technically legal tender with a face value of one dollar, the coin is primarily intended for collectors and investors due to its gold content. It is unlikely to be found in general circulation.
Question 3: How does the coin’s value compare to its face value?
The coin’s intrinsic value, derived from its gold content, significantly exceeds its one-dollar face value. Market forces and the price of gold determine its actual worth.
Question 4: What is the significance of the year “2007” in relation to the coin?
2007 marks the year the coin was first released into the numismatic market as part of the Presidential $1 Coin Program.
Question 5: Where can this coin be purchased?
The coin may be acquired through coin dealers, online marketplaces, and possibly through direct purchase from the U.S. Mint, depending on availability.
Question 6: How does the Presidential $1 Coin Program impact the coins design?
The program mandates the order of presidential appearance based on term served, which influenced when the third President was honored. It also specified design elements, like edge inscriptions.
In summary, the coin is a 24-karat gold collectible with a nominal one-dollar face value, produced by the U.S. Mint as part of a broader commemorative program. Its value is largely determined by its gold content and collector demand.
The subsequent section will delve into the market analysis of similar commemorative coins.
Tips Concerning the Gold Dollar Featuring the Third President
The following guidelines offer insights into navigating the numismatic market related to the U.S. Mint’s one-dollar gold coin depicting the third President.
Tip 1: Verify Authenticity. Employ reputable authentication services such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) to confirm the coin’s legitimacy. Counterfeit coins exist and can be difficult to detect without expert analysis.
Tip 2: Assess Condition Carefully. The condition of the coin significantly impacts its value. Familiarize oneself with grading standards (e.g., Mint State 70, Extremely Fine 40) and examine the coin under magnification to identify surface imperfections, wear, or damage.
Tip 3: Monitor Gold Prices. The coin’s intrinsic value is directly tied to the spot price of gold. Track fluctuations in the gold market to determine favorable buying or selling opportunities. Utilize reliable financial resources to stay informed.
Tip 4: Research Mintage Figures. Limited mintage coins generally command higher premiums. Investigate official U.S. Mint records to ascertain the number of coins produced. Scarcity is a key factor in determining numismatic value.
Tip 5: Consider Long-Term Investment. Numismatic investments require patience. Avoid impulsive decisions based on short-term market trends. Evaluate the coin’s historical significance, aesthetic appeal, and long-term potential for appreciation.
Tip 6: Secure Proper Storage. Protect the coin from environmental damage by storing it in acid-free holders or albums. Avoid direct handling, which can leave fingerprints or scratches that diminish its value. Maintain a controlled environment to minimize oxidation.
Tip 7: Consult Numismatic Experts. Seek advice from experienced coin dealers or numismatists before making significant purchases or sales. Their expertise can provide valuable insights into market trends, valuation techniques, and potential risks.
In summary, prudent acquisition and management of the gold dollar featuring the third President require diligence, research, and a thorough understanding of numismatic principles. Authenticity, condition, market trends, and long-term investment considerations are all crucial factors.
The ensuing section will present a detailed analysis of the historical context and legacy of the depicted president.
Conclusion
This examination has detailed the characteristics, production, and numismatic significance of the coin. The analysis covered its 24-karat composition, its standing as legal tender, its creation by the U.S. Mint, and its role within the Presidential $1 Coin Program. Moreover, this discussion addressed factors influencing valuation, preservation, and long-term investment considerations relevant to collectors and investors.
The coin serves as both a precious metal asset and a tangible representation of American history. It is incumbent upon those engaging with the coin, whether as collectors or investors, to conduct thorough research and exercise due diligence in assessing authenticity, condition, and market trends. Furthermore, recognizing the historical significance of the individual depicted on the coin fosters a deeper appreciation for its enduring value, transcending purely monetary considerations.
