The 2007 P Presidential Dollar featuring James Madison is part of the United States Mint’s Presidential $1 Coin Program. This series began in 2007 to honor each U.S. President with a specially minted golden dollar coin. The James Madison dollar is the fourth coin in the series, celebrating and honoring an iconic leader in American history. Here’s a closer look at the features, history, and value of this unique coin.
Who Was James Madison?
James Madison, often called the “Father of the Constitution,” served as the fourth President of the United States from 1809 to 1817. He played a crucial role in drafting the U.S. Constitution and was instrumental in creating the Bill of Rights. His leadership extended into the War of 1812, where he helped guide the young nation through one of its most challenging conflicts. Madison’s legacy is one of intellectual prowess and dedication to the democratic principles that form the foundation of American governance.
It’s fitting that James Madison would be commemorated with his own Presidential dollar coin, part of a series designed to educate the public and honor the country’s greatest leaders.
Coin Design and Features
The 2007 P James Madison Presidential Dollar is a gold-colored coin made from a combination of metals, including copper, zinc, manganese, and nickel. Although it looks like gold, the coin does not contain any actual gold. The coin was struck at the Philadelphia Mint, as indicated by the “P” mint mark on the edge of the coin.
Design Features Table
Feature | Description |
---|---|
Obverse (Front) | A portrait of James Madison, designed by Don Everhart. Madison’s name and “4th President 1809-1817” are inscribed. |
Reverse (Back) | Features the Statue of Liberty with the inscription “United States of America” and the denomination “$1” at the bottom. |
Edge Lettering | Includes the inscriptions “E Pluribus Unum,” “In God We Trust,” and “2007,” along with the mint mark “P.” |
The golden finish and elegant design make these coins both aesthetically appealing and historically significant.
Mintage and Availability
The 2007 P James Madison dollar had a substantial mintage. Around 84,560,000 coins were struck at the Philadelphia Mint. This large production run makes the coin relatively easy to find today, though some varieties and high-grade examples can be valuable to collectors.
Mintage Details Table
Mintage Location | Total Coins Minted | Common Value (Circulated) |
---|---|---|
Philadelphia Mint | 84,560,000 | Around $1 |
Coins in uncirculated condition or those graded highly by professional services, such as MS65 or MS67 (Mint State), can command higher prices due to their rarity in perfect condition. These coins were also released in special Presidential Dollar sets and proof sets, which are highly sought after by collectors who prefer coins in pristine condition.
Errors and Varieties
Like any mass-produced coin, some James Madison Presidential dollars feature errors that make them more valuable to collectors. Common errors associated with this coin include:
Error Types Table
Error Type | Description | Potential Value |
---|---|---|
Missing Edge Lettering | Edge lacks standard inscriptions, making it rare. | Can be worth $50-$100+ |
Weak Edge Lettering | Faint or poorly struck edge inscriptions. | Value varies by rarity. |
Misaligned Die | Off-center design on the obverse or reverse. | Can increase collectibility. |
If you come across a 2007 P James Madison dollar with any of these errors, it could be worth having it evaluated by a professional coin grading service.
Collecting the James Madison Dollar
The James Madison Presidential Dollar is an essential part of the Presidential $1 Coin Program and a great addition to any collection focusing on U.S. history or presidential memorabilia. Collectors often seek these coins for their historical value, aesthetic appeal, and affordability. While some rare coins may be worth thousands or even millions of dollars, the James Madison dollar is generally accessible to both novice and experienced collectors alike.
Tips for Collecting Presidential Dollars
Tip | Description |
---|---|
Focus on Condition | Look for uncirculated or Mint State coins. |
Complete the Series | Try to collect coins of all U.S. Presidents. |
Look for Special Sets | Consider special proof sets for added value. |
Coin Value and Pricing
As of now, most 2007 P James Madison dollars in circulated condition are worth around $1, as they were intended for everyday use. However, coins in uncirculated or near-perfect condition, especially those graded MS65 or higher, can be worth more.
Pricing Overview Table
Condition | Estimated Value |
---|---|
Circulated | Around $1 |
Uncirculated (MS65) | $2 to $4 |
Error Coins | $50 to $100+ |
Coins with errors or varieties, such as missing edge lettering, can be worth considerably more. Some error coins have sold for $50 to $100 or more, depending on the specific variety and the condition of the coin.
If you believe you have a rare or error coin, it’s a good idea to have it appraised by a professional coin grading service to determine its true value.
Conclusion
The 2007 P James Madison Presidential Dollar is not just a piece of currency but a symbol of American history, honoring one of the nation’s founding fathers. With its unique design, edge lettering, and historical significance, it’s a favorite among collectors and history enthusiasts alike. While not inherently valuable in circulated condition, uncirculated or error coins can be worth more, making it an exciting addition to any collection.
Whether you’re a seasoned collector or just getting started, the James Madison dollar offers an accessible entry point into the world of numismatics. Its connection to one of America’s most influential Presidents, combined with its distinctive features, ensures its lasting appeal. So, keep an eye out for these golden coins—you never know what treasures you might find!
FAQs
What is the 2007 P James Madison Presidential Dollar?
The 2007 P James Madison Presidential Dollar is part of the U.S. Mint’s Presidential $1 Coin Program, which honors each U.S. President with a gold-colored dollar coin.
How many 2007 P James Madison dollars were minted?
Approximately 84,560,000 coins were minted at the Philadelphia Mint. This large mintage makes the coin relatively easy to find in circulated condition.
What is the value of a 2007 P James Madison dollar?
In circulated condition, the 2007 P James Madison dollar is generally worth around $1.
What are some common errors to look for in the 2007 P James Madison dollar?
Common errors include missing edge lettering, weak edge lettering, and misaligned dies.
How can I start collecting the James Madison dollar and other Presidential dollars?
To start collecting, look for uncirculated or high-grade coins at coin shops, online marketplaces, or through numismatic shows.