First Spouse Gold Coins Update
There are several items of interest related to the First Spouse Gold Coins. Another issue has sold out, the long delayed Eliza Johnson coin has a release date, and a price increase will likely take place shortly.
James Buchanan's Liberty
As of Monday, the uncirculated version of the James Buchanan's Liberty First Spouse Gold Coin has sold out. This joins the proof version of the coin which sold out more unexpectedly on February 8, 2011.
Based on the most recent US Mint sales report published yesterday, the US Mint has sold 5,364 of the Buchanan's Liberty uncirculated coins. The proof version of the coin had last reported sales of 7,304.
On the same sales report, figures for some of previously sold out First Spouse coins were adjusted lower by significant amounts. The uncirculated Jane Pierce coin was lowered by 158 to 3,333. The uncirculated Abigail Fillmore was reduced by 98 coins to 3,489.
When the US Mint published their initial product release schedule for 2011, the Eliza Johnson First Spouse Gold Coins had a release date of March 3, 2011 indicated. A few weeks before the expected launch, the date was changed to "TBD". Although no confirmation was ever provided by the US Mint, the delay was presumably related to the second round of design candidates prepared for review by the CFA and CCAC.
A release date of May 5, 2011 has now been indicated for the Eliza Johnson gold coins and bronze medal. This will represent a very late start for the series this year. From 2008 to 2010, the first release of the year had taken place by mid-March.
No modification has been made to the release date for the Julia Grant First Spouse Gold Coin. At this time, it is still listed as June 2, 2011, less than a month after the Eliza Johnson release. However, as we know, all release dates are subject to change.
The average London Fix gold price for the prior week and the current market gold price suggest that another pricing adjustment for the available First Spouse Gold Coins.
The price increase, which should take place shortly, will bring the cost of the proof versions of the First Spouse series to $904 and the uncirculated versions to $891. These will be the highest issue prices on record for the series.
The only First Spouse coins still available for purchase from the US Mint are the proof Abigail Fillmore and the proof and uncirculated Mary Todd Lincoln Coins.
Pricing for the 2010 Proof Gold Buffalo would also be adjusted higher to $1,760 per coin. When first offered for sale on June 3, 2010, the coins were priced at $1,510 each.
Coin Update News article
Last, I wanted to highlight an article by Louis Golino just published on Coin Update News. He suggests that the size of the coin should be reduced to one-quarter ounce in order to ensure the sustainability of the series. The suggested change, which could only be accomplished by an Act of Congress, would likely put US Mint issue prices around the levels that were in place for the start of the program in 2007.
Read the full article:
First Spouse Gold Coins Should Be Changed to Quarter Ounce Size
Labels: First Spouse Gold Coins