Report

2011 Annual Report to the Congress on the Presidential $1 Coin Program

Abstract: Pursuant to section 104 of the Presidential $1 Coin Act of 2005 (Public Law 109-145), the Board of Governors of the Federal Reserve System is required to submit an annual report to the Congress on the remaining obstacles to the efficient and timely circulation of $1 coins; on consultations with industry representatives, the vending industry, and other coin-accepting organizations; and recommendations for legislative action that the Board may determine to be appropriate. Since our 2010 annual report, the Federal Reserve Banks (the Reserve Banks) distributed nearly 290 million James Buchanan, Abraham Lincoln, Andrew Johnson, and Ulysses Grant Presidential $1 Coins, satisfying depository institution demand. To facilitate this successful distribution, the Federal Reserve continued to refine the Presidential $1 Coin Program based on stakeholder input and experiences with previous Presidential $1 Coin releases. The Federal Reserve held meetings with depository institutions and community bankers, as well as with armored carrier representatives, to gather feedback about demand and potential obstacles to the circulation of $1 coins.

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: Reports and Studies

Publication Date: 2011