26 June 2008

America's 50 State Quarters Program

This week I received a parcel from a dear friend in Wisconsin. Included in the parcel was a collection of American Quarter Dollars. In past conversations he explained to me how each quarter's reverse celebrates one of the 50 states with a design honouring its unique history, traditions and symbols, usually designed by a resident of that state and chosen by the state government. Upon receiving these coins my curiosity was piqued, as I am sure he knew it would be. Over time I intend to do some reading to discover the relevencey between each quarter dollar and its specific design.

The 50 State Quarters program is the release of a series of commemorative coins by the United States Mint. Between 1999 and 2008, it is featuring each of the 50 individual U.S. States on unique designs for the reverse of the quarter and will feature the District of Columbia and the nations five territories.

Note of interest ... seigniorage is the profit gained by a government when it issues currency. The U.S. Government discovered at the launch of the State Quarters series that a large number of people were collecting each new quarter as it rolled out of the U.S. Mint, taking the pieces out of circulation. Since it costs the Mint less than five cents for each 25 cent piece it produces, the government made a profit whenever someone bought a coin and chose not to spend it. The U.S. Treasury estimates that it has earned about $4.6 billion in seigniorage revenue from the quarters so far. The addition of six new designs in 2009 to recognise the nations capital and its five territories is expected to boost seigniorage revenue even further, especially since fewer coins will be minted of each design, because six different coins will be issued that year, instead of the usual five.

To view all the coins and learn more about them please check out the link below.

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