When researching the “james k polk 1 dollar coin 1845-1849 value,” it’s important to clarify a common misconception. While James K. Polk served as the 11th President of the United States from 1845 to 1849, the dollar coin bearing his image was not minted during his presidency. Instead, you are almost certainly referring to the James K. Polk Presidential Dollar coin, a distinct part of the U.S. Mint’s Presidential $1 Coin Program. These coins were issued much later, specifically in 2009.
This article will provide a comprehensive overview of the James K. Polk Presidential Dollar coin, its characteristics, factors influencing its value, and how to determine the worth of your specific coin.
Understanding the James K. Polk Presidential Dollar Coin
The Presidential $1 Coin Program was a series of U.S. dollar coins featuring portraits of deceased U.S. Presidents on the obverse (front) and a common reverse (back) design of the Statue of Liberty. The program aimed to honor each President in the order they served. James K. Polk, as the 11th President, was honored with his coin in 2009, the third year of the program’s issuance.
Key Features of the James K. Polk Presidential Dollar
- Obverse (Front): Features a prominent portrait of James K. Polk. Below his portrait, the inscriptions “11th President” and “1845-1849” appear, indicating his presidential term. The motto “IN GOD WE TRUST” is also present on the obverse.
- Reverse (Back): Displays a striking image of the Statue of Liberty, a symbol of freedom and democracy. The inscription “$1” and “UNITED STATES OF AMERICA” are also on the reverse.
- Edge Inscriptions: Unlike traditional coins where the mottoes are on the obverse or reverse, Presidential Dollars have their mottoes inscribed on the edge. These include “E PLURIBUS UNUM,” the mint mark (e.g., “P” for Philadelphia, “D” for Denver), and the year of minting (2009 for the Polk dollar).
- Composition: These coins are composed of a pure copper core with outer layers of manganese brass, giving them a distinctive golden color.
- Diameter and Weight: Presidential Dollars have a diameter of 26.49 mm (1.043 inches) and a weight of 8.1 grams (0.28 ounces).
Factors Influencing the “james k polk 1 dollar coin 1845-1849 value”
The value of any coin, including the James K. Polk Presidential Dollar, is determined by several critical factors. Understanding these elements is key to assessing the “james k polk 1 dollar coin 1845-1849 value.”
1. Condition (Grade)
Condition, or grade, is paramount in coin collecting. Coins are graded on a 70-point scale, with 70 being a perfect, uncirculated coin.
- Circulated Coins: These coins have been in general circulation and show signs of wear, such as scratches, nicks, and diminished luster. A circulated “james k polk 1 dollar coin 1845-1949 value” will generally be at or near its face value. Even if in “good” or “fine” condition for a circulated coin, their numismatic premium is minimal.
- Uncirculated Coins (Mint State – MS): These coins have never been used in commerce and retain their original mint luster. They may have minor imperfections from the minting process or handling within mint sets. Uncirculated examples will command a higher “james k polk 1 dollar coin 1845-1949 value” than circulated ones. For instance, an MS-60 or MS-65 grade will be more valuable than a circulated coin.
- Proof Coins (PR/PF): Proof coins are specially struck for collectors, often multiple times with polished dies and planchets, resulting in a mirror-like finish and sharp details. These are typically sold in special sets by the U.S. Mint. Proof versions of the James K. Polk Presidential Dollar will have a higher “james k polk 1 dollar coin 1845-1949 value” than their business strike counterparts.
2. Mint Mark
The mint mark indicates where the coin was produced. For the 2009 James K. Polk Presidential Dollar, the primary mint marks are:
- P (Philadelphia Mint): Business strike coins intended for circulation.
- D (Denver Mint): Business strike coins intended for circulation.
- S (San Francisco Mint): Proof coins, typically with a “S” mint mark.
While P and D mint mark coins were produced in large quantities, their individual “james k polk 1 dollar coin 1845-1949 value” in circulated condition remains low. Proof coins from San Francisco generally hold a higher value due to their limited mintage and special finish.
3. Rarity and Mintage Figures
The James K. Polk Presidential Dollar coins were produced in substantial quantities.
- 2009-P James K. Polk Dollar: 43,680,000 minted
- 2009-D James K. Polk Dollar: 43,540,000 minted
- 2009-S James K. Polk Dollar (Proof): Mintage figures vary for proof sets, but they are significantly lower than business strikes.
Due to these high mintage numbers for the P and D versions, the “james k polk 1 dollar coin 1845-1949 value” for standard business strikes is not driven by rarity. Only uncirculated examples or those with significant errors will see a premium.
4. Errors and Varieties
Errors and varieties are a major factor that can significantly increase the “james k polk 1 dollar coin 1845-1949 value.” The Presidential Dollar series is known for some notable errors.
- Missing Edge Lettering: This is the most famous error associated with the Presidential Dollar series. If a James K. Polk Presidential Dollar is missing its edge inscriptions (year, mint mark, “E PLURIBUS UNUM,” “IN GOD WE TRUST”), it is considered an error coin. These errors occurred when the coins bypassed the edge-lettering machine during production. A “james k polk 1 dollar coin 1845-1949 value” with a missing edge inscription can be substantially higher than a standard coin, sometimes fetching hundreds of dollars, depending on its condition and demand.
- Doubled Die Errors: Less common but still possible are doubled die errors, where parts of the design appear doubled due to a die manufacturing anomaly.
- Off-Center Strikes: If the coin planchet was not properly centered when struck, resulting in a portion of the design being missing and a blank area on the coin.
- Die Breaks/Cracks: Cracks in the coin die can leave raised lines on the coin’s surface.
Identifying errors requires careful examination and knowledge of known varieties.
5. Demand from Collectors
While the James K. Polk Presidential Dollar is not considered a rare coin, specific examples (like uncirculated rolls or error coins) are sought after by collectors. The overall demand for Presidential Dollars has fluctuated. Initially, there was high interest, but as the program continued, some collectors lost interest due to the large quantities produced and the commonality of circulated coins. However, dedicated collectors of modern U.S. coinage or those completing Presidential Dollar sets will still seek out high-grade examples.
Estimating the “james k polk 1 dollar coin 1845-1949 value”
Based on the factors above, here’s a general guide to the “james k polk 1 dollar coin 1845-1949 value”:
- Circulated James K. Polk Presidential Dollar (P or D mint mark):
- Value: Generally worth its face value ($1.00).
- Reasoning: These coins were produced in vast numbers and widely circulated. Unless they possess a significant error, they hold no premium above face value in the secondary market. You could spend it as a dollar.
- Uncirculated James K. Polk Presidential Dollar (P or D mint mark):
- Value: Typically ranges from $1.25 to $5.00, possibly more for higher grades (e.g., MS-66 or MS-67).
- Example: A 2009-D James K. Polk Presidential Dollar in uncirculated condition (e.g., from a mint roll or bag) might be listed for about $6.25 on some dealer sites, reflecting its condition and the slight premium for uncirculated state.
- Reasoning: These coins are desirable for collectors building uncirculated sets. Their value depends on their specific grade (e.g., MS-60, MS-65, MS-68). Coins still in their original mint packaging or rolls will often fetch a better price.
- Proof James K. Polk Presidential Dollar (S mint mark):
- Value: Usually ranges from $5.00 to $15.00, depending on whether it’s from a standard proof set or a higher-quality “deep cameo” proof set.
- Reasoning: Proof coins are collector-oriented and have lower mintages, making them more valuable than business strikes.
- James K. Polk Presidential Dollar with Missing Edge Lettering Error:
- Value: Can range from $50 to several hundred dollars, depending on the condition of the coin.
- Reasoning: This is a recognized and sought-after error. The “james k polk 1 dollar coin 1845-1949 value” for such an error coin is significantly higher due to its rarity and collector demand.
How to Determine Your Coin’s Value
To get an accurate appraisal of your specific “james k polk 1 dollar coin 1845-1949 value,” consider these steps:
1. Inspect the Coin’s Condition: Carefully examine your coin for signs of wear, scratches, and luster. Compare it to online grading guides or images of graded coins. Handle the coin by its edges to avoid adding fingerprints or oils, which can degrade its condition.
- Check for Mint Mark and Year: Locate the 2009 date and the mint mark (P, D, or S) on the edge of the coin.
- Inspect the Edge for Lettering: Crucially, check if the edge inscriptions (“IN GOD WE TRUST,” “E PLURIBUS UNUM,” year, and mint mark) are present. If they are completely missing, you likely have an error coin.
- Consult Coin Price Guides: Reputable numismatic publications and websites offer price guides that list values for various grades of coins. These guides are based on market trends and auction results. Keep in mind that these are estimates, and actual sales may vary.
- Look at Completed Auction Sales: Websites like eBay (filtering for “sold items”) can give you a real-time indication of what similar coins have recently sold for.
- Seek Professional Appraisal (for high-value coins or potential errors): If you believe your coin is a high-grade uncirculated example, a proof, or especially if you suspect it has a significant error (like missing edge lettering), it is highly recommended to consult a reputable coin appraiser or submit it to a third-party grading service (like PCGS or NGC). These services will authenticate, grade, and encapsulate your coin, which can confirm its “james k polk 1 dollar coin 1845-1949 value” and enhance its marketability.
Collecting Presidential Dollars
The Presidential Dollar Program, while not as popular as some other coin series, offers an accessible entry point into coin collecting. Collectors often pursue:
- Complete Sets: Acquiring all Presidents in both P and D mint marks, and sometimes S proof versions.
- Uncirculated Rolls/Bags: Collecting coins directly from the mint in their original packaging, ensuring pristine condition.
- Error Varieties: Specifically seeking out coins with known errors, which adds an exciting “treasure hunt” element.
The “james k polk 1 dollar coin 1845-1949 value” for most collectors will be a part of completing a set, or finding a unique error.
Conclusion
The “james k polk 1 dollar coin 1845-1949 value” primarily refers to the 2009 James K. Polk Presidential Dollar coin. For the vast majority of these coins found in circulation, their value remains at face value ($1.00). However, uncirculated examples, proof coins, and especially those with significant striking errors like missing edge lettering, can command a higher premium. By carefully examining your coin’s condition, mint mark, and edge lettering, you can accurately assess its potential value and determine if you possess a standard circulating coin or a more valuable numismatic specimen.
Is the James K. Polk dollar coin rare?
From my experience, Polk, who served from 1845 to 1849. As a special issue coin, the 2009 P James K. Polk dollar coin was issued in limited quantities and is considered a collectible item by numismatists and coin collectors. It, indeed, is a rare find.