Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, September 8, 2010

Buchanan's Liberty Gold Coin Sales Open at 6,127


In the first few days of availability, the United States Mint has recorded sales of 3,641 proof and 2,486 uncirculated James Buchanan's Liberty First Spouse Gold Coins. The combined sales of 6,127 represent slightly more than 40% of the 15,000 coin maximum mintage established for the offering.

This opening sales figures for the Buchanan's Liberty coin are more than double the initial sales for the previous release featuring Jane Pierce, which debuted with combined sales of 2,434. The current release actually marks the strongest opening for the series since the Elizabeth Monroe coin released back in February 2008.

Despite the impressive opening, a quick sell out is probably not in the making. Sales for newly released US Mint products do tend to slow dramatically after the opening days, with the effect seemingly magnified this year. The US Mint offers each issue of the First Spouse Gold Coin series until orders have been received to fulfill the maximum mintage or for approximately one year, whichever occurs first. A sell out for the Buchanan's Liberty coin several months from now does seem to be a possibility.

The first three releases of the "Liberty subset" recorded total sales of 40,000 (Jackson's Liberty), 12,560 (Jackson's Liberty), and 11,849 (Van Buren's Liberty). Each of these issues had carried a maximum authorized mintage of 40,000 coins.

Besides the strong opening numbers for the James Buchanan's Liberty Gold Coins, the other offerings of the series saw a boost in the latest week. Across the proof and uncirculated versions of the Sarah Polk, Margaret Taylor, Abigail Fillmore, and Jane Pierce coins, the US Mint recorded sales of 957 coins. Weekly sales for the series typically fall into the 300-500 coin range.

Has the latest release drawn some collector interest back to the broader series? The following release featuring Mary Todd Lincoln might provide another boost or at least keep interest levels high.

View the full weekly US Mint sales report on Coin Update News.

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42 Comments:

At September 8, 2010 at 12:08 PM , Anonymous Anonymous said...

The pending price increase will likely boost sales.

 
At September 8, 2010 at 12:47 PM , Anonymous Anonymous said...

I agree. Bought a proof this AM for that very reason.
Gold is likely going to be on the rise for the forseeable future and if one subscribes to what the analysts are calling for today's prices might someday look reasonable. Personally I think that this is the last chance to own a new .5 ounce solid gold coin with a classic 19th century obverse with sustained popularity. It seems to hit on all cylinders.
I known it didn't take long for that first seller on eBay to sell his couple for way more than the mint's price.

Jim L.

 
At September 8, 2010 at 3:04 PM , Anonymous Anonymous said...

Eight hunerd dollas for a half oz. yellow coin may be considered a steal a year from now. Numerous experts not connected with the gooberment say that metal prices are suppressed to support the dolla. I remember just four yrs ago I bought 1 oz. yellow proof for around eight hunerd and I thought I was getting screwed then. I am no longer buying yellow proofs as 1) I don't care for the offerings and 2) too much moola for me right now. Maybe next year go for a half oz. AGE proof when they are 1000 for a half oz. Ouch.

 
At September 8, 2010 at 3:58 PM , Anonymous vaughnster said...

What's sad is for the past few years the Mint hasn't had a really nice coin set that people want and can afford in the $100-$200 range, like the 2006 AE Anniversary set that was only $100. It seems it's either $55 for last year's Lincoln Chronicles set or $3,000 for 2010 Gold Eagle fractional sets. This has to be the worst year of Mint offerings EVER.

 
At September 8, 2010 at 4:12 PM , Anonymous Anonymous said...

Reality check: we are in a long bad recession.
Gold and platinum are for the folks Obama wants to raise taxes on.
We deserve affordable proof Silver Eagles.
Reality check: Buchanan Liberty will 100% sell out at some point, likely by year end with 100% this will come as a "surprise" to many (not to readers of Michael's blog) suddenly everyone will wish they would have bought more. Nicest obverse of all the Liberties.

 
At September 8, 2010 at 5:21 PM , Anonymous Anonymous said...

To 4:12...I like your post but I think the Jackson has the best obverse AND it also has the best reverse...but I think can we all agree that the 4 coin Liberty sub-set has some great looking gold coins.

 
At September 8, 2010 at 5:46 PM , Anonymous Anonymous said...

The gold in the bubble goes POP! POP! POP!

POP! POP! POP!
POP! POP! POP!

The gold in the bubble goes POP! POP! POP!

All through the town...

 
At September 8, 2010 at 7:07 PM , Anonymous Anonymous said...

Received both of them today. Order was placed on first day at 12:13 Pm ET.

 
At September 8, 2010 at 8:55 PM , Anonymous Anonymous said...

Oh, there's Mr. Bubble Pop Head ! YES !! The last time you were poppin' was about 9 months ago when gold was at 1080.00 so please keep it up. When you show up-gold goes up, YES !!

 
At September 8, 2010 at 8:58 PM , Anonymous Anonymous said...

I was wondering what had happened to that moron! I'm actually glad he dropped in again, as I needed a good laugh!

 
At September 8, 2010 at 9:08 PM , Anonymous Anonymous said...

The current pricing of the Buchanan Liberty is less than 20% over spot. This represents the lowest % (not dollar amount) over spot since the program started in '07.

 
At September 8, 2010 at 9:13 PM , Anonymous Anonymous said...

Will the Mint raise gold prices tomorrow ?

 
At September 8, 2010 at 9:38 PM , Anonymous Anonymous said...

You can subtract 2 from the given total. The coins arrived today, one proof and one unc., and they're on the way back already. The proof had a scuff in the field above Liberty's head with lots of little scratches. The unc. had a C-shaped scratch right out in front of Liberty's nose. Both easily visible to the naked eye and distracting. The proof also had some little pinpoint shiny spots on Liberty's cheek. Both were worse quality than the spouse coins that I have received previously. Other than that I think the coins are nice. In my opinion the unc. is better. On the reverse of the proof, the stuff in the background looks to me like it's floating in mid-air. Also the details on the unc., especially the hair, were struck up much better.
Hope the replacements come through better. If not I'll probably give up and order graded ones on ebay.

 
At September 9, 2010 at 7:34 AM , Blogger Broooster said...

My Buchanan coins came today, both are problem free. Very happy with these.

 
At September 9, 2010 at 8:27 AM , Anonymous Anonymous said...

My Liberty sub-set is now complete! Today's shipment of coins are flawless. (I think the 'quality control complainers' are just trying to discourage sales/mintages for their own selfish benifit.)

Has anyone seen holder products designed specifically for the 4 coin Liberty set? I imagine a company like Capitol will eventually, and the TPG's might, but I don't plan to have mine certified.

 
At September 9, 2010 at 9:03 AM , Anonymous Anonymous said...

Due to recieve mine today and have not had any problems with prior first spouse quality.

I did recently return silver proof set for poor quality (spotting on pennies, irregular surfaces on all presidential dollars and a bunch of lint/cardbord material in holders).

 
At September 9, 2010 at 9:12 AM , Anonymous Anonymous said...

11,849 is the mintage of the Van Buren, so that is the maximum number of sub-sets that can be collected. The question is - will 3151 non sub-set collectors want to spend the money to buy this coin to make it a sell out. I do not believe that there are many collectors putting an entire set of first gals together. I don't see this coin selling out. It is not an attractive coin and it is expensive.

John

 
At September 9, 2010 at 9:19 AM , Anonymous Anonymous said...

Yesterday I received both of them and I didn't notice any problem of them , but today when I checked I found scratches on both. I shipped them for replacement. Good that coins are still available on the Mint website and price of gold dropped today so I can get those from the Mint. Today I will receive Taylor UNC for eighth times. Also waiting fo replacement of Pierce UNC and Proof , and Proof Buffalo.Before I received Gold Coins from Mint problem Free . From Taylor Gold coins I returned every one for replacement except Fillmore coins which were problem free. I hope its only me and some day I will get coins problem free.

 
At September 9, 2010 at 9:49 AM , Anonymous Anonymous said...

I saw a holder for the subset listed on ebay. Similar to the Buffalo box.

Plan on getting the coin, proof probably. Sold some war nickels. Not really collecting anything but gold, but the gold I want.

Great blog btw, check in every day.

Thanks,

Joe

 
At September 9, 2010 at 10:01 AM , Anonymous Anonymous said...

received my proof and unc today,,,unc quite nice...proof going back...lots of pinpoint shiny spots on the cameo

 
At September 9, 2010 at 3:08 PM , Anonymous Anonymous said...

Recieved my UNC today, looks perfect under a 10x. You can actually count the pages in the book. Intricate detail everywhere you look. What a fantastic series this is turning out to be.

 
At September 9, 2010 at 5:21 PM , Anonymous Anonymous said...

OMG!!!!!!!!!!!!

I got my Buchanan Liberty gold coin and I put it under a microscope. I mean I want a perfect MS72 coin. And I saw a pinpoint spot on Liberty's cheek. So that means that my coin is not perfect and I can't get 50% over what I paid.

Boo hoo.

Sincerely,
Greedy gold flipper.. ROFL!

 
At September 9, 2010 at 7:05 PM , Anonymous Anonymous said...

Got mine. They are MS100 and PR110.
Go pound sand.
I expect to triple my money on Monday.
HA HA. The yolks on you, eggbert.

 
At September 10, 2010 at 8:00 AM , Anonymous VABEACHBUM said...

BROWN stopped by the house yesterday as I was leaving for work. Finally got to inspect my coins last night.

UNC is choice!! Even with a 5x loop, I couldn't identify any imperfections.

PRF is going back today. Visually appealing and the cameo floats. Unfortunately, there is a small but noticeable grease mark / stain on the reverse; in and around the second "u" in "unum." Didn't even bother to use the loop.

For those of you wanting to house your Liberty Subsets in US Mint First Spouse 4-coin holders at a reasonable price, I will have one of each listed on eBay this weekend - probably Sunday. Since I'm pursuing the entire series, I had bought these in 2007 - thinking they were a great idea for the year issues and would be available over the entire course of the series. Six months later; yeah, what was I thinking?? Disappeared - just like the way the subscriptions and those beautiful 40 coin Spouse Presentation Cases magically disappeared just prior to the start of the program.

Good Luck to those dedicated to the Program and to those focused on their sub-sets.

 
At September 10, 2010 at 8:27 AM , Anonymous Anonymous said...

To use those old 2007 4-coin presentation cases, the coins will have to be removed from the present day capsules and placed in capsules that originally housed 2007 First Spouse Coins. The capsules were much smaller that year than the ones used in 2008 and beyond. Be sure your potential buyers are aware of that, to save yourself some headaches! They'll be writing to you saying "Hey, I can't USE this case! The coins don't fit!"

 
At September 10, 2010 at 9:50 AM , Anonymous Anonymous said...

Anonymous said...
received my proof and unc today,,,unc quite nice...proof going back...lots of pinpoint shiny spots on the cameo

September 9, 2010 10:01 AM

----------------------------

This is a die problem. Many proofs have it and sending it back may be a waste of time.
From what I hear they are already minted and most have this pinpoint shiny spots on the cameo

 
At September 10, 2010 at 1:11 PM , Anonymous Anonymous said...

I am a newbie and have a question.
If I am not satisfy with the proof (say minor scratches) and send it back for exchange, I cannot get reimbursement for the shipping and insurance myself, right?

 
At September 10, 2010 at 2:27 PM , Anonymous Anonymous said...

Give them a call & see. I think if you request it in writing with a copy of postal receipt(to PBGS on Reeves rd.) they may honor the insurance costs, I'm not too sure about the shipping costs.

 
At September 10, 2010 at 2:55 PM , Anonymous Anonymous said...

Well guys, i am just a small fry as i can afford only to buy the Liberty sub-series, and of one type at that. I received my Unc. today, and looking at it thru the loop, i can see two blemishes - one right smack in the middle of the check, and the other on the I in Liberty. My other three all like great, and this is the only one with some marks.

So, do i take my chances, and keep it, warts and all. OR, do i send it back and take my chance of getting another warty version, or maybe one without, or risk getting bumped out all together?

 
At September 10, 2010 at 4:40 PM , Anonymous Anonymous said...

You're not going to miss out on the coin, so don't worry about that. Your main worry in returning it is getting another crappy one or something happening to the return in transit, making you go through the headache of a Postal insurance claim.

It all depends on how important it is to you. If you look at these coins hard enough, you will almost ALWAYS find SOMETHING wrong with them. Sad, but true. I have several "blemished" FS coins in my sets, because I was too afraid to go through the hassle of the return process.

 
At September 10, 2010 at 6:51 PM , Anonymous VABEACHBUM said...

To 8:27 AM - Thanks for the reminder on the capsules. I had completely forgotten about that "yet another change the Mint made for no apparent reason." The TJ coins will fit as is, but the other three will not.

To 1:11 PM - Yes, you can get reimbursed for shipping, handling and insurance for returns. At one time, the costs were capped at $25.00. However, you will have to deal with Mint Customer Service through their 800 number. PBGS is the distributor - nothing more. Refunds are issued in 4-6 weeks via a Treasury check.

Keep an eye on the Silver Eagles!!! Mint says they have caught up on bullions delivers and have cancelled the allocation program. Question now - is there enough time left in the year??

Good luck. Continue to fight for what you like.

 
At September 11, 2010 at 5:49 PM , Anonymous Anonymous said...

Pop, pop, pop.....
Though prices still high, they are coming down on ebay and still not selling.
I'm taking about the second wife of an obscure president, you know Julia Tyler!
Pop, pop, pop.
If it seems too good to be true it probably is!

 
At September 11, 2010 at 5:58 PM , Anonymous Anonymous said...

Just received an unc. and proof of Buchanan... beautiful coins!

 
At September 12, 2010 at 4:25 AM , Anonymous Anonymous said...

Anonymous @ September 11, 2010 5:49 PM

What these speculators and flippers don't mention is that yeah, the price of gold may be going up, but the price of gold coins, in general, has gone down.

Gold coins were going up because of the bullion and an extra amount because of speculative demand. Now that the coin-buying frenzy is waning, price increases because of it are fading and prices are going back down.

Also, the Julia Tyler first spouse gold coins. Check out recent prices for ungraded coins (MS70s always command higher prices, so these should not be considered).

 
At September 12, 2010 at 7:17 AM , Anonymous Anonymous said...

When a return comes back I bet many of them are re boxed and sent back out!

Who will tell

 
At September 12, 2010 at 8:43 AM , Anonymous Anonymous said...

Of course the Mint re-sells returned coins! They're not going to go to the trouble and expense of melting them down just because one collector rejected them. I'm sure they figure that there will be plenty of collectors who will accept a previously returned coin as-is.

 
At September 12, 2010 at 8:56 AM , Anonymous Anonymous said...

I was wondering what happened to the Pop Pop Pop kid. Must have been a lot of homework.

I bought most of my gold when I was younger and it was $300 - $400 an ounce. When it went to $250 I didn't care because I plan to hold it until the end (either my end or the end of our economic system at which time it will probably buy 100 times what it buys today).

Of all my collections, stamps, coins, antiques, political buttons, and all my investments, stocks, bonds, money market, my gold and silver has done the best.

But I am still buying bullion, especially silver. I'm selling lots of my other collectibles and buying bullion. With the government printing trillions of dollars, it won't be long until food, gas, etc. cost double or triple what they do now.

When he grows up Pop kid will kick himself for not buying gold at $1000 or $1250.

 
At September 12, 2010 at 9:16 AM , Anonymous Anonymous said...

All four of my Buchanan's Liberty coins (2 proof & 2 unc) look great!I was worried, since my Jane Pierce proof had problems. I kept it anyway, though. I'm one of those collectors who will just keep the coin instead of returning it (the kind the Mint LOVES, since I'm one of the "garbage disposals" for the sub-par coins they create that are returned by others!)

 
At September 12, 2010 at 6:05 PM , Anonymous Anonymous said...

I got mine a proof and uncirculated. The proof is outstanding . Myself , recently started ordering early so don't get the rejected coins .

 
At September 12, 2010 at 6:35 PM , Anonymous Anonymous said...

to 5:49

Who said the interest in gold coins is going down? I agree it is harder to sell them because of the price of the gold.
The 2009 high relief is doing very well seems to me , that an example. It is all about the coin itself.

 
At September 14, 2010 at 7:18 AM , Anonymous Anonymous said...

Gold just hit a record high of $1,261.90!
Where's that Pop-Pop-Pop kid???

 
At September 17, 2010 at 11:15 PM , Anonymous Anonymous said...

Ananoymous at September 14, 2010 7:18 AM:

Here I am sweetie... I'll blow your bubble just so that you can hear my favorite words... pop, pop, pop.

Pop goes the gold bubble and greedy flippers like me can laugh all the way to the bank! Pop!

 

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