Katie Thornton

He was thinking they'd roll them out five a year for a decade.

But he didn't just want to release them alphabetically.

The Mint needed the Treasury's approval, and the Treasury at the time did not like the idea.

Too many things could go wrong.

They wanted a study done.

So the Treasury ran some numbers.

Philip and his colleagues did, too.

How much seniorage each quarter would net the government, and also how many additional quarters they would get to sell to the banks due to people collecting them and taking them out of circulation.

Each quarter tells something about the state it represents.

This one's New Jersey.

It was the first time in decades that there was any significant change made to a U.S.

coin.

And it was exciting.

Philip and his team had done their research.

They knew people loved the treasure hunt aspect of collecting.

So they worked that into the program.

The states especially loved it.

Governors got their constituents involved, submitting design concepts and voting on their favorites.

That is true.

If you were around when the state quarters first debuted, like I was, you will remember this.