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Presidential Dollar Coin Production Suspended
December 13, 2011

Immediate suspension of Presidential dollar coin production was announced this morning by Deputy Secretary of the Treasury Neal Wolin at a Campaign to Cut Waste news conference call in Washington, D.C.

He joined Health and Human Serives Secretary Kathleen Sebelius and Deputy Attorney General James Cole to host a conference call to announce various things the Obama Administration can do to cut government waste.

Collector Presidential dollar coins will continue to be produced to complete the series at prices that make sure there is no cost to taxpayers going forward.

Wolin said annual savings would total $50 million. Currently the Federal Reserve System has 1.4 billion Presidential dollar coins in storage, a number that will take 10 years to draw down at current rates of use.

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About the Author
David C. Harper has been a coin collector since 1963. He joined the Krause Publications editorial staff in 1978 and is currently editor of Numismatic News and World Coin News. He also edits two books annually, North American Coins & Prices and Coin Digest. He is the author of the Class of '63 column that runs each week in Numismatic News. His first bylined numismatic article appeared in the June 1971 issue of Coins Magazine and his various Krause Publications assignments included a stint as editor of the magazine 1980-1983. Harper received a bachelor of science degree from the University of Wisconsin-Oshkosh in 1977. He had a double major of journalism and economics.

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