The United States Mint announced that its 2012 Presidential $1 Coin Proof Set will launch at noon Eastern Time on Tuesday, April 24, 2012 for $18.95. The release date may sound familiar because at the same time, the U.S. Mint is also releasing another set, the 2012 America the Beautiful Quarters Uncirculated Set.

U.S. Mint image of the 2012 Presidential $1 Coin Proof Set

This year’s set contains four new 2012 Presidential dollars honoring Chester Arthur, Grover Cleveland for his first term, Benjamin Harrison, and then Grover Cleveland again but for his second term. Cleveland was the only President to serve two non-consecutive terms.

Like several other 2012 products, the Presidential set is being offered at a reduced price. The difference is only $1, but many collectors will appreciate the decrease nonetheless. Last year’s set is still for sale at $19.95.

The Presidential $1 Coin Program started in 2007 as a result of Public Law 109-145, otherwise known as the Presidential Dollar Coin Act of 2005. By it, the U.S. Mint strikes four new dollars each year that feature the Presidents in chronological order of their administrations. 2012 honors the 21st through the 24th Presidents.

One factor that separates this year’s dollars from others is the fact that they are no longer being minted for circulation. It was announced last winter that production of the dollar coins in previous years exceeded consumer demand and the surplus was being stored in government vaults. Therefore, the Department of the Treasury suspended dollar production except for what was ordered by the public directly from the U.S. Mint.

For reference, the U.S. Mint press release about the Presidential $1 Coin Proof Set follows.

Sales for the 2012 United States Mint Presidential $1 Coin Proof Set will begin at noon Eastern Time (ET) on April 24 online at http://www.usmint.gov/catalog. The set contains four proof quality Presidential $1 Coins with the bold portraits of Chester Arthur, Grover Cleveland – first and second terms – and Benjamin Harrison featured on their obverses (heads side). The reverse (tails side) of each Presidential $1 Coin features a striking rendition of the Statue of Liberty.

The term “proof” refers to a manufacturing process in which specially treated coin blanks are struck multiple times with specially polished dies to create sharp relief and a mirror-like background. A frosted, sculpted foreground gives proof coins a special “cameo” effect. The “S” mint mark, representing production at the United States Mint at San Francisco, is inscribed on the edge of each coin.

The United States Mint Presidential $1 Coin Proof Set is priced at $18.95. In addition to the secure Web site, customers may also place their orders at 1-800-USA-MINT (872-6468) or at 1-888-321-MINT (6468), the bureau’s dedicated line for hearing- and speech-impaired customers with TTY equipment. All orders include a fee of $4.95 per order for shipping and handling. There is no household order limit for this set.

The United States Mint also offers an Online Subscription Program to customers who wish to receive automatic shipments of the United States Mint Presidential $1 Coin Proof Set and other select products as they become available. To learn more about this convenient shopping method, visit http://www.usmint.gov/catalog.