The massive stockpile of American dollar coins that could reach Chicago

Countries & Cities · Published 12 October 2026 · Updated 25 October 2026 Swipe more like this →

In short: When the U.S. Mint launched the Presidential $1 Coin Program in 2007, it aimed to spark public demand through beautiful designs and historical education. Instead, it created a staggering surplus of nearly two billion coins—a mountain of metal so large it could stretch across half the country.

The Presidential $1 Coin Act was signed into law by George W. Bush on December 22, 2005. The program was designed to issue four coins annually, featuring presidents who had been deceased for at least two years. To ensure public acceptance, the Mint used a manganese brass cladding over a pure copper core, giving the coins a distinctive golden color while remaining electromagnetically identical to the previous Susan B. Anthony dollar for use in automated machines.

Despite these efforts, the program struggled to gain widespread circulation compared to the state quarter series. By 2011, the U.S. Mint had stockpiled approximately 1.4 billion uncirculated $1 coins; projections suggested this could have reached two billion by 2016 if production hadn't changed. Consequently, in December 2011, officials suspended large-scale minting for circulation, shifting to reduced quantities exclusively for collectors.

The program's legacy is marked by both logistical hurdles and unique anomalies. For instance, at least 50,000 George Washington coins were accidentally released without edge lettering in early 2007, leading some to label them "godless dollars." Furthermore, while the government estimated that replacing dollar bills with coins could save $5.5 billion over 30 years, the current stockpile of 888 million coins (as of late 2022) is expected to last until roughly 2038.

The series officially ended in 2016 after honoring Ronald Reagan. Because the law requires presidents to be deceased for two years before minting, several figures—including George H. W. Bush and Jimmy Carter—remained ineligible at the time of termination. Honoring them now requires new legislation, such as the 2020 act that finally authorized a coin for George H. W. Bush.

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