Following the success of the State Quarters program, the US Mint will be releasing Presidential $1 coins starting this year with the first four US Presidents (Washington through Madison) and four per year until... I guess until they catch up with the current President? Or maybe there's some rule about only dead ones, or only five years out of office like the Baseball Hall of Fame. Anyway, I'm not looking forward to having to carry Reagan coins, let alone GWB. But Chester A. "Muttonchops" Arthur will be fun. And Grover Cleveland gets two different coins, apparently!
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From the US Mint page on the States Quarters, "Regarding designs for the quarters' reverse, Public Law 105-124 specifies that 'no portrait of a living person shall be included in any design.' "