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Clinton Signs
Bill Providing Dollar Coin, New Quarters
By The Associated Press
Published: Dec. 2, 1997
WASHINGTON (AP) -- A new, gold-colored dollar coin and
quarters honoring the 50 states will take their place in Americans' pockets and purses
under legislation signed by President Clinton.
The bill, signed into law on Monday, authorizes the
treasury secretary to create a new dollar coin, with a distinctive edge to go along with
its distinctive color. It would replace the Susan B. Anthony dollar when government
stockpiles run out in about 30 months.
Also, beginning in 1999, the U.S. Mint will produce five
new quarters a year, each commemorating a state. The familiar profile of George Washington
will remain. But, for 10 years, the American eagle will give way -- possibly to such
critters as Delaware's blue hen, Wyoming's buffalo or Louisiana's pelican.
Each design will be developed by state officials, working
with two federal panels: the Citizens Commemorative Coin Advisory Committee and the
Commission on Fine Arts. The treasury secretary gets the final say and is directed by the
law to avoid frivolous designs, depictions of living persons and portraits that would
create a two-headed quarter.
Congress also left the design of the new dollar coin to the
treasury secretary, avoiding a dispute between lawmakers who want it to depict the Statue
of Liberty and others who want an actual woman or women of historic significance.
Coin collectors have been complaining for years about the
lack of change in the nation's circulating coinage. The last change was the Anthony
dollar, minted from 1979 to 1981. It fell flat with the public because it looked and felt
too much like a quarter.
''This new dollar coin has the potential to gain much wider
acceptance by the public,'' said Rep. Michael Castle, R-Del., chairman of the House
monetary subcommittee.
Advocates of the dollar coin had also pushed to remove the
dollar bill from circulation, but interests ranging from the unions representing
government printers to the company producing paper for the bills vigorously opposed that
step. The legislation Clinton does not affect paper dollars.
''The general public is not ready to part with the dollar
bill,'' Castle said.
The quarter designs will be issued in the order that the
states ratified the Constitution or were admitted to the union. The first five in 1999
will be Delaware, Pennsylvania, New Jersey, Georgia and Connecticut.
Richard J. Schwary, president of the Professional
Numismatists Guild, said the new law will ''put pride back in our pockets.''
''Money is history you can hold in your hands,'' he said.
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