Andrew Jackson's Liberty First Spouse Gold Coin Sold Out
The Andrew Jackson's Liberty First Spouse Gold Proof Coin is now sold out at the US Mint. The sell out happened recently and is somewhat unexpected.
The proof version of the Andrew Jackson's Liberty Gold Coins were last available for $629.00 per coin. The uncirculated version of the coin still remains available for sale at $616.00 per coin. The coins first went on sale August 28, 2008, making the sell out almost two weeks earlier than the one year mark.
The US Mint has stated that each First Spouse Gold Coin will remain on sale until the maximum authorized mintage has been sold or for approximately one year, which ever occurs sooner. For the first three releases of the series, the combined maximum mintage of 40,000 coins was sold on the opening day of sales. For each subsequent release, the coins have not reached the maximum mintage and have remained on sale for the one year period.
In practice the US Mint has used the start of sales for a new coin to mark the end of sales for an older coin. This schedule is somewhat thrown off this year, since there are five coin releases instead of the usual four. It was widely expected that the Andrew Jackson coins would be taken off sale on September 3, when the Sarah Polk coins went on sale.
The most recent sales report indicates that 7,749 of the proof version of the coin have been sold and 4,459 of the uncirculated version of the coin have been sold. These numbers come in above the levels set for the prior coin featuring Louisa Adams. Many collectors have favored the "Liberty" releases of the First Spouse series, which feature reproductions of classic coin designs. Although the mintage is higher, there will likely be additional demand for this issue from collectors who assemble the "Liberty" subset.
It will be interesting to see how the Andrew Jackson's Liberty proof coins perform on the secondary market. Unexpected sell outs have tended to perform well, since dealers and collectors don't have the opportunity to place their final orders. There are only a few Andrew Jackson's Liberty coins currently listed on eBay.
Today on Coin Update News:
Professional Life Coin Exchange in Washington DC - by Les Peters
James K. Polk Presidential Launch Ceremony - August 20, 2009 in Columbia, Tennessee
Labels: First Spouse Gold Coins
posted by Mint News Blog @ 5:12 PM
6 Comments:
I am guessing that all of the First Spouse gold coins with a Liberty instead of an actual spouse will sell out. The Liberty versions are generally more attractive IMO. I think they also seem - to some -more like legitimate U.S. coins, rather than souvenirs.
Leave it to the Mint to keep us guessing like that. I noticed the coin had gone on backorder status the other day, but did not think anything of it.
Maybe they're trying to make it up to us for leaving the Louisa Adams coins on sale too long, making their mintage a few hundred coins higher than it should have been.
This is kind of disturbing for me though, because I was comfortable in the whole "approximately one year" business, and the predictable pattern of when the coins would be taken off-sale. This new development throws off the entire scheme. I still haven't ordered any of my 2009 coins yet. I've been comfortable thinking that there is still plenty of time. Now I'm forced to wonder: IS there?
I suggested fellow collectors buy the Andrew Jackson "liberty" last month as I did...this a very beautiful gold coin.
Maybe somebody is listening...
Goldilocks
It didn't "sell out"
It's just no longer available since approximately one year has passed. Didn't come anywhere close to selling out the 40,000 maximum authorized mintage.
You're right, to call it "Sold Out" IS misleading. But, the Mint only has the one way of saying that a product can no longer be purchased from them, and that is the one they use. It replaced their prior phrase of "Product is Not Available".
What I wonder about is WHY the Mint decided to pull the Jackson's Liberty proof coin off sale this week, instead of waiting until September 3rd when the Sarah Polk coins go on sale? Also, why did they only pull the proof coin and not the uncirculated?
The answer COULD be something like this. I wonder if, based on sales patterns recorded throughout the year, the Mint actually struck all of the 2008 First Spouse coins they projected they could sell prior to "approximately one year" for each design by December 31, 2008? That could explain why they decided to delay releasing the Letitia Tyler coin by a few weeks, in an attempt to unload a few more overestimated Louisa Adams coins. It could also explain why the Jackson's Liberty proof coin was pulled early, since the latest Numismaster Mint Stats report shows a sales total of 7,806. That is tantalizingly close to the nice round figure of 7,800. How much you want to bet that next weeks' report shows an even 7,800 of those coins were sold?
It will be interesting to watch if this pattern continues. It could lead to some "sellouts" that occur earlier and earlier, if the Mint only produces enough 2009 coins by December 31st to satisfy what appears to be an ever shrinking demand.
I might not have as much time to buy my 2009 coins as I thought. I just hate to buy them right now, while gold is so darn high! Why can't it take a dive like it has in the past? It always recovers, but in the meantime it would allow me to get my coins without having to spend so dang much on them!
I am using the following definition of sold out:
"Having been entirely sold, so that no stock remains"
The US Mint also defines these products as "sold out".
At some point, I think the US Mint does a final production run, which it estimates will fulfill the product demand for the remaining period of time the product will be available. If they underestimate, their entire remaining inventory is sold and the product goes off-sale earlier than expected.
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