Letita Tyler First Spouse Gold Coins
The release of the 2009 Letitia Tyler First Spouse Gold Coin will mark the end of the month-long dry spell for US Mint products. The coins will go on sale July 2, 2009 at 12:00 Noon ET. This will be the second of five releases for the First Spouse coin series during 2009.
The obverse of the coin features a portrait of Letitia Tyler, designed and sculpted by Phebe Hemphill. The reverse features a scene of Letitia Tyler and two of her children on Cedar Grove Plantation. She had supervised the operation of the 1,200 acre plantation, allowing her husband to focus on his political career. The reverse was designed by Susan Gamble and sculpted by Norman E. Nemeth.The Letitia Tyler First Spouse Coin will contain one-half ounce of 24-karat gold. Coins will be available in uncirculated or proof, with both versions produced at the West Point Mint. The maximum authorized mintage will be 40,000 coins across both options. The US Mint has not announced any ordering limits, however the last release carried an initial household limit of 10 coins per option.
Pricing for the coins will be determined under the US Mint's pricing policy for gold and platinum numismatic products. If the average London Fix price of gold from last Thursday to this coming Wednesday falls within the $900-$949.99 range, then the proof coins would be priced at $629.00 and the uncirculated coins would be priced at $616.00. If the average price of gold falls within a higher or lower $50 tier, the prices of the coins would be adjusted by $25 for each increment.
A bronze medal featuring the same design, less some inscriptions, will be released at the same time. The medals are priced at $3.50, with no household ordering limit.
When the Letitia Tyler coins go on sale, it is expected that sales of the Louisa Adams coins will end. The Louisa Adams First Spouse Coins originally went on sale May 29, 2008. The US Mint has stated that First Spouse coins will remain on sale for approximately one year or until the maximum authorized mintage has been sold. In this case, "approximately one year" will be stretched beyond 13 months, trying the patience of some collectors.
After sales of the Louisa Adams coin officially end, collectors will be able to determine if this coin represents the new mintage low for the series. The most recent sales figures for the Louisa Adams coins show 4,214 uncirculated coins and 6,931 proof coins sold. These levels are still below the low mintage leader for coins that are no longer available. This is the Elizabeth Monroe coin with 4,519 uncirculated coins and 7,933 proof coins sold.
As the popularity of the First Spouse series has declined, some have been watching for the low point of the series. Low mintage gold coins have often attracted attention after the fact, creating new demand for the coins and driving secondary market prices higher. On the other hand, some have argued that the First Spouse series is different than other gold series, and will never attract this additional demand. This topic has been debated frequently in the comments of other posts on the First Spouse Gold Coin series.
On a separate note, I will be leaving on a three week vacation this afternoon. While I am away, I plan to continue posting to Mint News Blog, although there may be some gaps and some posts may be less timely than usual. Please stay on board during this period, and feel free to post any breaking news over on Coin Network to keep the discussion going!
Labels: First Spouse Gold Coins
posted by Mint News Blog @ 5:11 AM
18 Comments:
I still don't see why the Mint didn't just go ahead and release BOTH Letitia and Julia Tyler coins on the same day, especially now that the Letitia coins were delayed an additional month. To get back on schedule (and to prevent the Andrew Jackson's Liberty coins from being sold for much longer than they should be), the Sarah Polk coins need to be released no later than early September. With these delays, it doesn't look too likely things will be back to "normal" anytime soon.
Have a great vacation!!!
ALL THE COINS & MEDALS PRODUCED BY THE MINT RESEMBLE CARTOON CHARACTERS. THEY DO NOT HAVE DETAIL, AND EFIGIES ARE NOT LIFE LIKE AT ALL.
WE NEED TO EXPRESS THIS TO THE U.S. MINT. OTHER MINTS ARE MAINTAINING THE DETAIL AND LIFE LIKE BEAUTY AND IN THE FUTURE, IN OUR GLOBAL SOCIETY THEY U.S. COINS WILL DECREASE IN PRICE AND VALUE DUE THE LACK OF EXPRESSED ARTISTRY
Someone commented that the 2008 Sacagawea rolls didn't look like there was much of a profit margin these days. I've been watching the last few days and it looks like they are bringing $80+ per roll on ebay. I notice the bids come in close to the end of the auctions. I hope the Native American Sacagawea, Lincoln Silver Comm, and Tyler do as well. Over 100% increase in value is not bad. Can't do that at a bank. Looking forward to the American Eagle Proof this year. ;0)
what the heak happened to the Tyler rolls? They are selling as low as $35 now on Ebay.
I thought sure the Tyler rolls would be right up there with the Harrison rolls, but NOT. I'm hoping in time Tyler will catch up and at least double for a roll. Harrison did pretty ok for only being in office some thirty days - just yesterday I saw a $177 for one Harrison roll.
Tyler mint roll is actually doing little bit better than 1 or 2 weeks ago. Most of them sold around $50. Hope it can go little bit higher.
People will realize the mintage and buy them now before they hit the Harrison prices!
I guess I was a little lucky and sold two rolls (P&D) at $108 with free shipping. But I noticed some were not so lucky and not even breaking even. I'm holding on to the two sets I've got left for a better market, or I'll just hold them forever.
Yeah, I'm not going to sell mine at the current prices, either. It just goes to show how PERCEPTION is so vital to a product's performance. If the public perceives an item to be scarce, they will go crazy trying to get it. It's totally BIZARRE, because there are the EXACT same number of U.S. Mint rolls for John Tyler as there are for W.H. Harrison. You can't argue that what I'll call the "second chance" sale by the Mint to resell rolls that were cancelled the first time for whatever reason was the culprit, because the exact same thing happened with the Harrison rolls, too. Unfortunately for me, I did not buy ANY Harrisons during either availability period. I DID buy 5 of each Mint Mark for the Tylers, though. Now it appears I will have to hold on to those until people come to their senses and realize that they are just as scarce as the Harrisons.
In a nutshell, people are crazy!
I'd say the current Tyler price is kind of normal for this kind of product. Harrison roll is the crazy one. People won't buy those at all if there are more interesting offerings from the Mint.
I ordered 10 rolls when Tyler roll went on sale the second time, still backordered. I guess the Mint will cancel it sometime soon. Does not matter to me if the price is this low. If it goes much higher, I won't feel good.
Go Tyler, go! I have 20 rolls backordered.
Wow, I didn't realize that the Mint still had unfulfilled Tyler rolls backordered! You're probably right, by now the chances are good that those orders will not be able to be filled.
That is extremely likely to be what is keeping prices so low right now. The Mint must have taken orders out the wazoo during those few days of "second chance" sales. As soon as those orders still on backorder status are officially cancelled, the frenzy for the available supply of Tyler rolls should resume, probably even surpassing the price level reached prior to the "second chance" sale. But as long as those poor buyers have the faintest glimmer of hope that their orders with the Mint will be filled, they aren't buying on the secondary market and prices are pretty much in the toilet.
I feel better about my 5 rolls of both P and D Mint now. I was starting to think ordering them had been a mistake. Now I have confidence that the higher prices will be back!
Even if it doesn't happen, at least these rolls have a built-in "stop loss" of $25!
Ahhh! That explains a lot, I was about to cancel my order from the mint which is back ordered due to the price decrase. Thank you for the clarification.
You're welcome. I'm sorry to burst your bubble about the backorders, but there is no way at this point that the Mint will be able to fill every order they must have took during the "second chance" sale. The product is still listed as "sold out" at the 30,000 unit level in Numismaster Mint Statistics, as it always has been.
I was starting to have second thoughts about buying any of the James K. Polk rolls, but now that I know that the Tyler decrease is due to heavy backorders at the Mint, I'm leaning back towards buying some Polk rolls again. My money is on those selling out at the 30,000 unit level too, maybe even 25,000 units. The overall mintage of the Polk coins will undoubtedly be lower than that of Tyler. That being the case, the Mint might not allocate as many coins to the roll program.
If the Mint cuts off sales of Polk rolls at only 25,000 units, watch out! This will be especially true if they sell out as fast as the Tyler rolls did!
I have my GAE $5 backordered since January and still on backorder. I thought long time ago it was canceled, but still there on backorder. Strange.
Tyler roll will settle down somewhere $50-60 in the near term. I don't see bright future for them in long term either. My concern is that not many people are really interested in them. They just follow the fad when the mint offerings are limited.
For Pork roll, I will pick up some. Mintage should be at least 30,000 each mint, if not more.
While you're picking up Pork rolls, be sure to pick up some Polk rolls, too! :)
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