American Innovation $1 coin

The American Innovation $1 Coin program starts this year and will run till 2033. Every year the U.S. mint will release 4 coins. The coins will represent each of the 50 states, the District of Columbia and the five U. S. territories – Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and the Northern Mariana Islands. Let us look at what innovation means in our country and why this coin program will be a favourite for many!

America and Innovation

The United States of America was born because of a fervent need to challenge the establishment. It is this general attitude of risk taking and going against all odds that has been a cornerstone of all inventions in the U.S.A. When Jefferson wrote “all men are created equal” he was specifying the 13 colonies that stood against the might of the British empire. But it paved way for the U.S. to become a safe haven for millions of immigrants who escaped from genocides, starvation and class divides. Most of them could lead a good life if they were willing to work hard. Some went on to become great inventors because of the thriving environment for innovation, like Graham Bell and Albert Einstein to name two greats.

Our founding fathers Benjamin Franklin, Thomas Jefferson and George Washington were inventors themselves and had a healthy respect for innovation. Benjamin Franklin is credited with many inventions like the lightening rod, bifocals, the Franklin stove and so on. Thomas Jefferson invented the wheel cipher, polygraph machine and the iron plow. George Washington besides being a great military strategist and stateman also invented the 16-sided threshing barn!

American Innovation $1 coin act

This latest coin act is exciting for the collectors as it calls for the minting of an Innovation coin representing a significant innovation or innovator or group of innovators from each of the 50 states, the District of Columbia, and the territories of the United States. Each coin will be based on designs selected by the Secretary of the Treasury who will consult with each Governor and the U.S. Commission of Fine Arts. The review by the Citizens Coinage Advisory Committee will be taken into consideration. The act also specified the release of an introductory coin at the end of 2018.

2018 American Innovator introductory coin design

These will depict the ‘Statue of Liberty’ design on the obverse and a new reverse design for each coin every year to honor an innovation from each state/territory. There was an introductory coin for the program last year in December.

The 2018 coin has the ‘Statue of Liberty’ design in its obverse that is common to all the coins that would be released in the coming years. The reverse design honors President George Washington and features a representation of his signature on the first-ever U.S. patent issued on July 31, 1790. He issued it to Samuel Hopkins for developing a process for making potash. This was designed by Donna Weaver and sculpted by Renata Gordon. It features Washington’s signature, stylized gears to represent industry and innovation, and a privy mark-like collage showing an eagle atop tools within a shield. Inscriptions include "UNITED STATES OF AMERICA," "AMERICAN INNOVATORS," and "SIGNED FIRST PATENT."