Annual Report to the Congress on the Presidential $1 Coin Program 2016
PrintRecent Activities
The United States Mint has not produced Presidential $1 coins for circulation since December 2011, but continues to produce them for collectors.1 As a result, the Federal Reserve Banks (Reserve Banks) meet depository institution demand with existing $1 coin inventories. In the past year, the Federal Reserve met with depository institutions and gathered feedback about demand for $1 coins and potential obstacles to their circulation.2 Similar to their feedback in previous years, depository institutions continue to indicate that there are no operational challenges associated with distributing the $1 coin, and they have not reported any questions on the topic. Also, Board staff received no inquiries on this topic.
References
1. Treasury's announcement can be found at https://www.treasury.gov/connect/blog/Pages/Reducing-the-Surplus-Dollar-Coin-Inventory-Saving-Taxpayer-Dollars.aspx.Return to text
2. Beginning in 2008, the Federal Reserve and the United States Mint agreed to meet with their respective coin user groups through normal channels each year of the program and share feedback as appropriate.Return to text
