The value of a James Madison dollar coin depends on its condition and whether it is part of a collector’s edition. In general, most coins are only worth their face value. However, in uncirculated condition, they can be worth up to $5 depending on the condition.
If you’re like most people, you probably think that all coins and bills are worth the same. After all, a dollar is a dollar, right? However, that’s not always the case.
The James Madison dollar coin was minted in 2007 as part of the Presidential dollar coin series. The coins were designed to honor the fourth President of the United States, James Madison. In this blog post, we’ll take a look at the value of these coins which mostly depends on their condition and rarity. So, keep on reading!
Who was James Madison?
James Madison was one of the most important Founding Fathers of the United States. He was born in 1751 in Virginia and was a key figure in the development of the Constitution and the Bill of Rights.
In 1809, Madison became the fourth President of the United States and served two terms in office. During his presidency, he oversaw the expansion of the United States with the Louisiana Purchase and led the country through the War of 1812. After his retirement from politics, Madison returned to his Virginia plantation, where he died in 1836. James Madison was a gifted political thinker and an important figure in American history.
His ideas about taxation and government spending helped to shape the American economy for generations. In recognition of his contributions, James Madison has been honored with his own dollar coin which was first released in 2007.
What are Presidential Dollar Coins?
Presidential Dollar Coins are a series of dollar coins with Presidents’ faces on them. They were first minted in 2007 and discontinued in 2016. The front of the coin features the President’s portrait, and the back usually features an image of the Statue of Liberty.
Though initially popular with collectors, the coins failed to gain widespread use, and production was halted in 2016. Today, Presidential Dollar Coins can still be found in circulation, though they are no longer being produced.
Some people have criticized the design of the coins, which they say is too similar to quarters. Others have praised the coins as a beautiful tribute to American Presidents. Regardless of opinion, the Presidential Dollar Coins are a fascinating part of American history.
James Madison Dollar Coin Identification Guide
The coin was first released into circulation in 2007. The obverse (front) of the coin features a portrait of James Madison and the inscriptions “JAMES MADISON”, “4TH PRESIDENT 1809-1817”. The date range 1809-1817 signifies his time in office.
The reverse (back) of the coin features the inscription “United States of America” and “$1”. The edge of the coin is incused with the inscriptions “2007”, “E PLURIBUS UNUM”, “IN GOD WE TRUST”. The coin also has a mint mark D (Denver), P (Philadelphia), or S (San Francisco).
The coin is composed of 88.5% copper, 6% zinc, 3.5% manganese, and 2% nickel, with a total weight of 8.1 grams. It has a reeded edge which means that grooved lines encircle the perimeter of the coin. The sculptors and designers are Don Everhart and Joel Iskowitz.
How Rare is a James Madison $1 Coin?
If you come across a James Madison $1 coin, don’t get too excited thinking it might be valuable. A total of 84,560,000 were produced in the Philadelphia mint, 87,780,000 in Denver and only 3,965,989 in San Francisco. So while it’s not a common coin, it’s also not rare.
However, it is still an interesting piece of history. And who knows? If you have one in your pocket right now, you could be holding on to a small fortune!
What Determines the Value of a James Madison Dollar Coin
When it comes to the value of a James Madison dollar coin, there are a few key factors that come into play. Those factors include condition, rarity, and errors.
Condition
The Sheldon Grading Scale is a tool used by collectors to determine the condition of a coin. The scale was developed by Dr. William H. Sheldon in 1949 and is still in use today. Coins are graded on a scale of 1 to 70, with 1 being the lowest grade and 70 being the highest.
When it comes to determining the value of a James Madison dollar coin, condition is key. A coin that has been circulated (or spent) will typically be worth less than an uncirculated (or unspent) coin. This is because circulated coins show signs of wear and tear, while uncirculated coins are in mint condition.
However, there are exceptions to this rule. For example, a circulated coin may be more valuable if it is rare or in high demand.
Rarity
The 2007 S Madison dollar is the rarest of all the coins, with a little under 4 million coins minted. This limited supply contributes to the coin’s higher value. In contrast, the 2006 P Madison dollar was minted in much larger quantities, resulting in a lower value.
Collectors are always on the lookout for rare coins, so the value of a 2007 S Madison dollar is likely to continue to rise in the years to come.
Errors
The James Madison dollar coin was released into circulation in 2007, but it didn’t take long for collectors to start noticing some errors. One error is upside down lettering, which occurs when the lettering on the coin is printed upside down. Another error is missing edge lettering, which happens when the edge of the coin is not properly stamped with the lettering.
A third common error is double edge lettering, which occurs when the edge of the coin is stamped with the lettering twice. Finally, another error is a lettered blank planchet, which happens when a blank coin is accidentally stamped with a letter. All of these errors can make a James Madison dollar coin more valuable to collectors.
What is the Value of a James Madison $1 Coin?
Both 2007 P and 2007 D James Madison dollar coins minted in 2007 are, unfortunately, only worth their face value of one dollar. In uncirculated condition, these coins can sell for up to five dollars.
A proof coin will be worth more than an ordinary coin. That’s why the 2007 S proof James Madison dollar coin is worth around $4. However, the price could go up or down depending on the specific circumstances.
The value of the error coin depends on the severity of the error and the condition of the coin. The James Madison $1 coin with a double edge lettering error that can be worth from $75 to $350. A coin with a missing edge lettering error can be worth from $40 up to several thousand of dollars!
The James Madison dollar coin has been worth more than its face value, but it still isn’t as valuable or rare compared with other coins out there.
What is the Most Expensive James Madison Dollar Ever Sold?
In 2012, a James Madison dollar coin with a missing edge lettering error was sold for $7,500, making it the most expensive James Madison dollar ever sold. The coin was graded PCGS MS68, which is the highest grade possible for a coin with this error. This flaw is incredibly rare, and it ultimately made this particular coin much more valuable than other examples in similar condition.
This particular error occurred during the minting process, when the edge lettering was not properly applied to the coin. As a result, this coin is very rare and highly sought-after by collectors. It’s no wonder that it sold for such a high price.
How to Know if My James Madison Presidential Dollar Coin is Worth Anything?
If you have a James Madison Presidential dollar coin, you may be wondering if it’s worth anything. Here are some ways you can tell what the James Madison dollar coin 1809 to 1817 worth.
Compare to Recently Sold Pieces
The first step is to compare your coin to recently sold pieces. Check online auction sites and coin dealer websites to see what similar coins have sold for in recent months. Pay attention to factors like condition and grade, as these can affect a coin’s value.
Let’s take a look at some examples:
- Uncirculated 2007 P James Madison dollar coin sold for $3,75.
- A 2007 S James Madison presidential coin with a mirror like cameo sold for $4.
- A lot of 12 uncirculated 2007 P James Madison presidential coins sold for $15.
Consult Guide Books
There are a variety of guide books available that can provide you with an estimated value for your coin. Of course, the actual value of your coin may be higher or lower than the guide book estimate, but it can give you a starting point for negotiating with potential buyers.
Here are some helpful resources that we recommend:
- Coin Collecting for Beginners: A Complete Guide to Start Your First Coin Collection for Hobby or Business and Learn how to Find and Value the Best Coins by Matthew Gray
- Coin Collecting: The Complete Guide by John N. Russell
- The Coin Collector’s Survival Manual, Revised Seventh Edition by Scott A. Travers
Get it Appraised
As a collector, you may be wondering if your James Madison Presidential Dollar coin is worth anything. After all, it is a Presidential Dollar coin, and those can be worth quite a lot. The best way to find out for sure is to get it appraised.
An appraisal will take into account the condition of the coin, its rarity, and other factors to determine its value. Once you have an appraisal, you’ll know exactly how much your coin is worth and can make decisions about whether to keep it or sell it.
FAQ
Where is the mint mark on a James Madison dollar?
The 2007 James Madison $1 coin was minted at three different facilities: Philadelphia (P, Denver (D), and San Francisco (S). The mint mark is located on the edge inscription of the coin.
Will presidential dollar coins be worth anything?
While it’s impossible to say for sure, there is potential for the coins to increase in value over time. For one thing, presidential dollar coins are no longer being produced, which makes them more collectible.
As a result, collectors may be willing to pay handsomely for presidential dollar coins in the future. Of course, only time will tell whether or not these coins will become truly valuable.
What year is a James Madison dollar coin?
The James Madison dollar coin was first minted in 2007. It is the fourth coin in the Presidential dollar series, which began being released in 2007.
What is the most expensive dollar coin?
The most expensive dollar coin is the 1794 Flowing Hair Silver Dollar, which was the first dollar coin issued by the United States federal government. The coin is made of 90% silver and 10% copper, and it is believed that only a few of these coins exist today.
What is the rarest coin in the United States?
The 1849 Coronet Head Gold $20 Double Eagle is the rarest coin in the United States. Only a handful of these coins are known to exist, and they are highly prized by collectors. The Double Eagle was minted in relatively small numbers in 1849, and most of the coins that were produced were melted down soon after they were struck.
Final Thoughts
The James Madison dollar coin was introduced in 2007 as part of the Presidential Dollar Coin Program. The program was intended to honor all of the past presidents with their own coin. However, due to a lack of interest in the coins, production was halted after only a few years. As a result, the Madison dollar coin is relatively rare and highly sought after by collectors.
Most coins are only worth their face value. However, in uncirculated condition, they can be worth up to $5 depending on the condition. Error coins can be even more valuable, with some selling for hundreds or even thousands of dollars. So if you come across a James Madison dollar coin, it might be worth taking a closer look. Who knows, you could end up with a small fortune!
