One of my hobbies if collecting old money and I just encountered something.
Remember the $1 Presidential coins?
Back in 2007 they started to mint a series of Presidential coins to honor our past Presidents. Originally these were intended to be used as legal tender as the Treasury was still toying with the idea of replacing paper dollars with dollar coins.
Anyway, that all fell through and a few years ago they stopped sending these coins to the banks and started to produce them just for collectors. After all the series was already started and the Mint really needed to finish the job. Now they've been issuing four new coins per year since 2007 and it was originally assumed that this would end with the 2016 issue, which would bring us to Ronald Reagan. Of course back in 2006/2007 the various providers of collecting supplies produced the requisite coin folders and albums. For example, the company that I've purchased my albums from, Littleton Coin Company, produced an album that held 16 coins per page which took us to exactly 2016 (note Grover Cleveland got two coins since these are really commemorating the Presidencies, not the individuals).
Well I guess both the Mint and album publishers assumed that Jimmy Carter would not be alive when we got to 2016 as he was part of the original plans and my albums has a slot for him. Unfortunately for the Mint and collectors, a Carter presidency coin will NOT be produced since there is a law in this country that states that NO Living person can be depicted on a United States stamp, coin or currency. So for this year there will only be three presidential coins produced, Nixon, Ford and Reagan. Our albums will have a glaring hole in them. I would assume that in a few years, when there are more 'eligible' honorees, they will issues the coins to fill-out our collections.
OCU
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