First Spouse Coins Update
I wanted to take another post to discuss some developments related to the First Spouse Gold Coin series.
Abigail Fillmore First Spouse Gold Coins
As written previously, the Abigail Fillmore First Spouse Gold Coins will go on sale tomorrow. There will be a maximum mintage of 15,000 coins across both proof and uncirculated versions, with no household ordering limits. Both of these represent changes in procedure from prior releases of the series, which had maximum mintages set at 40,000 and ordering limits imposed for at least the first month of availability.
Since the price of gold has remained within the same average range, the proof coins will be priced at $729 and the uncirculated coins will be priced at $716. The US Mint now provided the product pages here and here. Ordering options won't be available until the official start of sales on March 18, 2010 at 12:00 Noon ET.
I do not think an opening day or even opening month sell out will occur, but I do think that opening sales will be stronger than the previous release. By lowering the maximum mintage, collectors of the series will be less inclined to delay purchases, and collectors who purchased coins earlier in the series may give the coins a second look.
Perhaps more importantly, the idea of a sell out has put back on the table. This is something that would not have even been considered or debated under the old 40,000 maximum mintage. For at least some people, this will change the perception of the offering.
Anna Harrison First Spouse Gold Coins
If past US Mint procedures hold, tomorrow may also mark the end of sales for the Anna Harrison First Spouse Gold Coins, which originally went on sale March 5, 2009. The US Mint has stated that coins of the series will remain available for sale for approximately one year or until the maximum mintage has been sold, whichever occurs first. In practice, they have ended sales of the oldest coin when a new coin is released.
The last reported sales for the Anna Harrison First Spouse Coins show combined sales of 9,787, made up of 3,537 uncirculated coins and 6,250 proofs. In the latest weekly sales period only 15 coins were sold. Sales had been running at a pace of about 100 coins per week before the recent numismatic gold coin price increase.
While I think there are likely to be future issues with even smaller mintages, the Anna Harrison uncirculated coin will establish a fresh low amongst the coins no longer available for sale. The current low is held by the Louisa Adams uncirculated coin with last reported sales of 4,223.
2010 First Spouse Gold Coin Mintages
As a final update and a new development, more information about the newly established maximum mintages for the series has been revealed. The 15,000 maximum mintage will apply for the Abigail Fillmore, Jane Pierce, and James Buchanan's Liberty coins. A higher maximum mintage of 20,000 will apply for the Mary Todd Lincoln First Spouse Coin. Maximum mintage levels will be determined each year for future releases.
See the full article on Coin Update: US Mint Cuts First Spouse Gold Coin Maximum Mintages
Labels: First Spouse Gold Coins