George Washington Presidential Dollars: A Journey Through U.S. Coinage History
Have you wondered if you've ever encountered a gold George Washington 1 cent coin? This article explores the history of these coins and the significance of George Washington in U.S. coinage history.
The Debate: Gold vs. Brass
The question often arises whether any circulating 1 cent coin in the U.S. could be made of precious metals like gold. However, recent history reveals that common 1 cent coins have not been made of precious metals for decades, and not even the Presidential Dollar series was minted in actual gold.
Yes, if you're referring to the gold-coloured Presidential Dollar coins minted a few years back, it's likely that you have one. However, if you are specifically looking for an elemental gold coin, the answer is no. These coins, commonly known as brass coins, were minted in manganese brass to give the appearance of gold. The first coin in the Presidential series was struck in 2007, with the mint mark incused on the edge. Most are worth just one dollar, but those without the incused edge lettering can be valued as high as $1000 depending on their condition.
George Washington: The First U.S. President
Following the ratification of the U.S. Constitution, George Washington was unanimously elected as the first President. After his distinguished service as the General and Commander-in-Chief of the Continental Army, he held the office from 1789 to 1797. During his presidency, Washington signed the first Act of Congress concerning the administration of oaths and presided over the first recorded Cabinet meeting, where he appointed Alexander Hamilton as the first Secretary of the Treasury and Thomas Jefferson as the first Secretary of State.
On September 18, 1793, Washington laid the cornerstone for the U.S. Capitol building in Washington D.C. He also established the United States' early foreign policy stance by issuing the Declaration of Neutrality in 1793, reacting to the emerging conflict between England and France.
Coinage Legislation and President Washington's Impact
While serving as President, George Washington played a significant role in shaping U.S. coinage with the following acts:
Significant Legislation:
April 2, 1792 - The Mint Act
The Act set up the U.S. Mint in Philadelphia, the nation's capital at the time. It also specified the production of coins, including the half-cent, cent, half-dime, dime, quarter-dollar, half-dollar, dollar, and eagle.
May 8, 1792 - Act on Copper Purchases
This Act authorized the Director to purchase up to 150 tons of copper for the coining of cents and half-cents.
January 14, 1793 - Cent and Half-Cent Metal Content Act
The Act established the metal content of cents and half-cents.
February 9, 1793 - Foreign Exchange Rates Act
This Act ended the acceptance of foreign coinage as legal tender in the United States, with the exception of the Spanish milled dollar.
March 3, 1794 - Receiving Metals Act
The Act provided an accounting method for receiving metals for producing coins.
March 3, 1795 - Melter and Refiner Act
This Act established the positions of melter and refiner at the U.S. Mint and granted the President the authority to reduce the amount of copper in cents and half-cents.
US Mint Directors and Their Contributions
Under President George Washington, the following Directors of the U.S. Mint were appointed:
US Mint Directors:
1792 - David Rittenhouse - The first Director of the U.S. Mint
1795 - Henry William de Saussure - The second Director
1795 - Elias Boudinot - The third Director
Presidential Dollars: The Gold-Colored Hype
In 2007, as part of the Presidential Dollar series, the U.S. Mint introduced coins with a gold color but these were actually made of manganese brass. The coins played a significant role in commemorating the leaders of the United States and celebrating the bicentennial of the U.S. Mint itself.
In conclusion, the quest for a gold George Washington 1 cent coin is more of a journey through U.S. history and coinage experiments. Whether it's the brass or the dollar-colored Presidential Dollars, each coin tells a unique story of American history and innovation.