WEST BRANCH, IOWA June 5, 2014 On Thursday, June 19, the Hoover Presidential Foundation and the Herbert Hoover Presidential Library-Museum in West Branch, Iowa, will host a ceremony from 11 a.m. to 11:30 a.m. in the Figge Auditorium for the general release of the new Herbert Hoover Dollar Coin.
Featured speakers will be Leslie Hoover-Lauble, the great-grand daughter of President Herbert Hoover and Michael A. Olson of Pella, Iowa, a member of the Citizen's Coinage Advisory Committee that was involved in the design selection of the coin. An official from the U.S. Mint is expected as well.
The U.S. Mint began a series of presidential $1 coins in 2007, producing four per year in chronological order. However, in 2011, the Mint found it had 1.4 billion $1 coins of various designs in its inventory and curtailed production of the presidential coins. The presidential coins no longer are put in general circulation by the mint, though they will print enough for collectors and other interested parties. The Library-Museum plans to promote the coin in hopes to raise more awareness and appreciation for the West Branch native and 31st U.S. president. Individual coins and rolls of 25 coins will be available for sale at the Library-Museum during this first day of issue.
During the ceremony, officials will pour 500 of the coins for a dramatic photo opportunity. Additionally, the first 100 children who attend the event will be presented with a coin by Leslie Hoover-Lauble, Herbert Hoover's great-grand daughter. First day of issue coins, minted in Denver and Philadelphia, will be offered immediately following the release ceremony, while supplies last.
U.S. Mint sculptor-engraver Phebe Hemphill created the image based on photographs provided by the Herbert Hoover Presidential Library-Museum. The picture is meant to represent Hoover, who lived to age 90, around the time he served in the White House, from age 54 to 58.
The coins will include the Statue of Liberty on the back and the words "E Pluribus Unum" (Out of many, one) on the outer edge. Made of manganese brass - 88.5 percent copper, 6 percent zinc, 3.5 percent manganese and 2 percent nickel - the coins will have a gold-like appearance, Mint spokesman Mike White said.
Next year, the U.S. Mint will begin producing $10 coins with the faces of presidential wives, and Hoover's wife, Lou Henry Hoover, will be among the first. These coins will be made of a half-ounce of gold, White said.