U.S. Mint launches first presidential $1 coin

WASHINGTON (Reuters) - The U.S. Mint said it launched a $1 coin on Thursday featuring George Washington, the first in a series honoring former U.S. presidents aimed at collectors and intended for use in vending machines and parking meters.

Modeled on the mint's popular 50 State Quarters Program, coins depicting each president will be released in the order in which they served, with John Adams, Thomas Jefferson and James Madison scheduled to appear later in 2007. The rest will be released through 2016, ending with Gerald R. Ford.