Philip N. Diehl | |
---|---|
35th Director of the United States Mint | |
In office June 1994 –March 2000 | |
President | Bill Clinton |
Preceded by | David J. Ryder |
Succeeded by | Jay W. Johnson |
Personal details | |
Born | Dallas,Texas,U.S. | June 11,1951
Political party | Democratic |
Spouse | Jacquita Pearson |
Children | 2 |
Education | Austin College (BA) University of Texas at Austin (MA) |
Philip Noel Diehl (born June 11,1951) is an American businessman and former monetary policy advisor who served as the 35th director of the United States Mint. He is the president of U.S. Money Reserve,a published analyst of gold markets and a member of the boards of the Industry Council for Tangible Assets,the Coalition for Equitable Regulation and Taxation and the Gold and Silver Political Action Committee.
Diehl was born in Dallas,Texas to Will A Diehl,a decorated World War II pilot who flew The Hump,and the former Wandah Marguerite Findley.
Diehl graduated from Lubbock High School in Lubbock,Texas and earned a Bachelor of Arts degree from Austin College where he was a member of Sigma Tau Epsilon and active in political organizing on campus and in the community. He earned a Master of Arts degree in government from the University of Texas at Austin and received a fellowship for post-graduate work in political science at Stanford University.
Diehl's involvement in the Democratic Party began at Austin College where he worked in the re-election campaign of United States Senator Ralph Yarborough. In 1973,Diehl joined Bob Bullock's first campaign for Texas Comptroller of Public Accounts.
When Diehl returned to Austin from Stanford,he worked for Bullock at the Texas Comptroller's Office. Later,he held positions as assistant to Commissioner Dennis L. Thomas and director of telephone regulation at the Public Utility Commission of Texas (PUC).
At the PUC,Diehl oversaw changes in the regulation of telecommunications utilities in the wake of the Bell system divestiture. He was the PUC's liaison to the Texas Legislature during a major reform of state laws regulating the telecommunications industry,and he led the commission's opposition to AT&T's attempt at deregulation by the legislature. The proposal was defeated,and the legislature mandated the PUC to hold a market dominance case to determine whether AT&T retained market power. [1] Diehl led the case against AT&T's deregulation. The PUC determined that AT&T retained market power,and the decision was upheld on appeal in state district court.
Diehl also led the PUC's adoption of Lifeline rates and Link Up Texas,the state's first programs to make telephone service affordable to low-income households,and he spearheaded creation of Texas Relay Service,the state's program making telecom service available to the deaf. In 1988,Diehl joined Dallas-based International Telecharge,Inc. as Vice President of Regulatory Affairs where he was responsible for state regulatory and legislative matters and was the company's expert witness in administrative law and appeals court proceedings.
In January 1991,Diehl was named legislative director to U.S. Senator Lloyd Bentsen. In September 1992,the Senator promoted him to majority staff director of the Senate Finance Committee. [2] On the first day of the Clinton administration,Diehl moved to the U.S. Treasury Department and was named Chief of Staff to Treasury Secretary Bentsen. [3]
After serving as staff director of the Senate Finance Committee and chief of staff of the U.S. Treasury,Diehl was nominated by President Bill Clinton to be Director of the United States Mint. He was unanimously confirmed by the United States Senate and served in the position until March 2000. [4]
Diehl led a dramatic turnaround of the Mint. By the time he left the agency in March 2000,he had persuaded Congress to exempt the Mint from all procurement regulations and annual appropriations, [5] [6] eliminated nine of ten political patronage positions, [6] and resolved the Mint's long-standing financial management weaknesses. [7] [8] Diehl also persuaded Congress to reform the Mint's troubled commemorative coin program [6] and oversaw the Mint's launch of one of the Internet's most successful E-commerce sites at the time. [6] [9] In 1998,a four-year customer service initiative Diehl launched culminated in the Mint earning the second-highest customer satisfaction rating on the University of Michigan School of Business American Customer Satisfaction Index in 1999., [6] trailing only Mercedes Benz,and he was named by Vice President Gore to lead a governmentwide customer satisfaction initiative. [10]
During his term as director,the Mint increased annual profits,which are returned to the American taxpayer,from $727 million to $2.6 billion. [6]
Working with Representative Michael Castle,Diehl overcame opposition from the Treasury Department to enact the 50 State Quarters program and oversaw its successful launch. [6] He negotiated agreements with Walmart and General Mills that led to a highly successful launch of the Sacagawea dollar,though the effort fizzled later. [11] [12]
Diehl also co-authored with Rep. Castle a law authorizing the Mint to produce the nation's first platinum coin,the American Platinum Eagle bullion coin. Within six months of its launch the Platinum Eagle had taken an 80% share of the world market for platinum bullion coins. [13]
In January 2013,the platinum coin law received widespread media attention when Paul Krugman,a Nobel Prize–winning economist,and Laurence Tribe,a prominent constitutional law professor at the Harvard School of Law,endorsed a proposal to use the law to mint a trillion-dollar coin. The idea was proposed as a way to neutralize Republican threats to block an increase in the statutory debt ceiling thereby causing the nation to default on its debt. Diehl was widely cited in the media as an expert on the issue,debunking criticism of the proposal and its legality under U.S. coinage law and its constitutionality. [14] [15] [16] [17] [18] [19]
Upon leaving the Mint,Diehl was named president of Zales.com,the online business platform of the Dallas-based jewelry retailer. [20] In the wake of the dot-com bubble,he returned to Washington,DC to join the international public relations firm FleishmanHillard as president of the company's government relations department. [21] He also established the company's B2G (business-to-government) practice and opened its Middle East office in Cairo,Egypt. In 2007,he formed a consulting firm with clients in the Middle East and the U.S.
Diehl is now a consultant to companies in the precious metals industry and an analyst of gold markets. His work has appeared in The Wall Street Journal [22] and Institutional Investor. [23] He serves on the boards of the Industry Council for Tangible Assets (ICTA) and the Coalition for Equitable Regulation and Taxation (CERT),and he is a co-founder of the Gold and Silver Political Action Committee.
Diehl has been recognized by Advertising Age as among its Top 100 in Marketing [24] and received the American Society for Public Administration Government Executive Leadership Award, [25] the Faith and Politics Institute's [26] St. Joseph's Day Award for values-based leadership,and the Treasury Medal for Outstanding Public Service awarded by Treasury Secretary Lawrence Summers. Austin College has named him a Distinguished Alumni. [27]
His work at the Mint has been featured in Fast Company, [5] [8] the New York Times, [28] The Washington Post, [29] The Leadership Challenge by James M. Kouzes and Barry Z. Posner, [30] The Art and Science of Leadership (5th Edition) by Afsaneh Nahavandi,and at the National Press Club luncheon series. [31]
He is married to the former Jacquita Pearson. They have two sons,Soren Michael and Alex Douglas.[ citation needed ]
Lloyd Millard Bentsen Jr. was an American politician who was a four-term United States Senator (1971–1993) from Texas and the Democratic Party nominee for vice president in 1988 on the Michael Dukakis ticket. He also served as the 69th United States Secretary of the Treasury under President Bill Clinton.
A nickel is a five-cent coin struck by the United States Mint. Composed of cupronickel,the piece has been issued since 1866. Its diameter is 0.835 inches (21.21 mm) and its thickness is 0.077 inches (1.95 mm).
The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce,as well as controlling the movement of bullion. It does not produce paper money;that responsibility belongs to the Bureau of Engraving and Printing. The first United States Mint was created in Philadelphia in 1792,and soon joined by other centers,whose coins were identified by their own mint marks. There are currently four active coin-producing mints:Philadelphia,Denver,San Francisco,and West Point.
The dollar coin is a United States coin with a face value of one United States dollar. Dollar coins have been minted in the United States in gold,silver,and base metal versions. Dollar coins were first minted in the United States in 1794.
The 50 State quarters was a series of circulating commemorative quarters released by the United States Mint. Minted from 1999 through 2008,they featured unique designs for each of the 50 US states on the reverse.
Michael Newbold Castle is an American lawyer and politician who was governor of Delaware from 1985 to 1992 and the U.S. representative for Delaware's at-large congressional district from 1993 to 2011. He is a member of the Republican Party.
The American Liberty Dollar (ALD) was a private currency produced in the United States.
The Eisenhower dollar was a one-dollar coin issued by the United States Mint from 1971 to 1978;it was the first coin of that denomination issued by the Mint since the Peace dollar series ended in 1935. The coin depicts President Dwight D. Eisenhower on the obverse,and on the reverse a stylized image honoring the 1969 Apollo 11 Moon mission based on the mission patch designed by astronaut Michael Collins. Both sides were designed by Frank Gasparro. It is the only large-size U.S. dollar coin whose circulation strikes contained no silver.
The Mercury dime is a ten-cent coin struck by the United States Mint from late 1916 to 1945. Designed by Adolph Weinman and also referred to as the Winged Liberty Head dime,it gained its common name because the obverse depiction of a young Liberty,identifiable by her winged Phrygian cap,was confused with the Roman god Mercury. Weinman is believed to have used Elsie Stevens,the wife of lawyer and poet Wallace Stevens,as a model. The coin's reverse depicts a fasces,symbolizing unity and strength,and an olive branch,signifying peace.
The American Silver Eagle is the official silver bullion coin of the United States.
The American Platinum Eagle is the official platinum bullion coin of the United States. In 1995,Director of the United States Mint Philip N. Diehl,American Numismatic Association President David L. Ganz,and Platinum Guild International Executive Director Jacques Luben began the legislative process of creating the Platinum Eagle. After over two years of work,the 99.95% fine platinum coins were released by the United States Mint in 1⁄10,1⁄4,1⁄2 and 1 troy oz denominations. In late 2008,the fractional denominations were discontinued,leaving only the one ounce denomination. The Platinum Eagle is authorized by the United States Congress,and is backed by the United States Mint for weight,content,and purity.
The Peace dollar is a United States dollar coin minted for circulation from 1921 to 1928 and 1934 to 1935,and beginning again for collectors in 2021. Designed by Anthony de Francisci,the coin was the result of a competition to find designs emblematic of peace. Its obverse represents the head and neck of the Goddess of Liberty in profile,and the reverse depicts a bald eagle at rest clutching an olive branch,with the legend "Peace". It was the last United States dollar coin to be struck for circulation in silver.
The Morgan dollar is a United States dollar coin minted from 1878 to 1904,in 1921,and beginning again in 2021 as a collectible. It was the first standard silver dollar minted since the passage of the Coinage Act of 1873,which ended the free coining of silver and the production of the previous design,the Seated Liberty dollar. It contained 412.5 Troy grains of 90% pure silver. The coin is named after its designer,United States Mint Assistant Engraver George T. Morgan. The obverse depicts a profile portrait representing Liberty,modeled by Anna Willess Williams,while the reverse depicts an eagle with wings outstretched. The mint mark,if present,appears on the reverse above between D and O in "Dollar".
The Sacagawea dollar is a United States dollar coin introduced in 2000,although not minted for general circulation between 2002 and 2008 and again from 2012 onward because of its general unpopularity with the public and low business demand for the coin.
The Walking Liberty half dollar is a silver 50-cent piece or half dollar coin that was issued by the United States Mint from 1916 to 1947;it was designed by Adolph A. Weinman,a well-known sculptor and engraver.
The Kennedy half dollar,first minted in 1964,is a fifty-cent coin currently issued by the United States Mint. Intended as a memorial to the assassinated 35th president of the United States John F. Kennedy,it was authorized by Congress just over a month after his death. Use of existing works by Mint sculptors Gilroy Roberts and Frank Gasparro allowed dies to be prepared quickly,and striking of the new coins began in January 1964.
The Washington quarter is the present quarter dollar or 25-cent piece issued by the United States Mint. The coin was first struck in 1932;the original version was designed by sculptor John Flanagan.
The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar,divided it into 100 cents,and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes,popularly called greenbacks due to their predominantly green color.
The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis of 2011 as a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit,through the minting of very high-value platinum coins. The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions. After reaching the headlines during the week of January 7,2013,use of the trillion-dollar coin concept was ultimately rejected by the Federal Reserve and the Treasury.
The Susan B. Anthony dollar is a United States dollar coin minted from 1979 to 1981 when production was suspended due to poor public acceptance,and then again in 1999. Intended as a replacement for the larger Eisenhower dollar,the new smaller one-dollar coin went through testing of several shapes and compositions,but all were opposed by the vending machine industry,a powerful lobby affecting coin legislation. Finally,a round planchet with an eleven-sided inner border was chosen for the smaller dollar.
{{cite web}}
: CS1 maint: archived copy as title (link)