Julia Grant First Spouse Gold Coins

Later today, June 23, 2011 at 12:00 Noon ET, the United States Mint will begin sales of the 2011 Julia Grant First Spouse Gold Coins. This will continue the one-half ounce 24 karat gold coin series featuring the spouses of the former Presidents.

The obverse design features a portrait of Julia Grant designed by Donna Weaver and sculpted by Michael Gaudioso. The inscriptions include her name, the order of the Presidency "18th", years of the term "1869-1877", the mottoes "In God We Trust", "Liberty", the date, and mint mark.

On the reverse of the coin is a scene of young Julia Dent and her future husband Ulysses S. Grant. The two are pictured during their courtship, riding horseback on her family's plantation, White Haven. The inscriptions include "United States of America", "E Pluribus Unum", the legal tender face value, and the weight and fineness of the gold content. The reverse was designed by Richard Masters and sculpted by Charles L. Vickers.

The maximum mintage level has been established at 15,000 coins, across the available proof and uncirculated versions. This is the same level that was in place for the previous release, as well as three out of the four releases for 2010. There are no household ordering limits imposed.

Initial pricing for the coins will be $929 for the proof version and $916 for the uncirculated version. This is based on an average gold price within the $1,500 to $1,549.99 range and may be adjusted throughout the course of sales as the average gold price moves into different pricing tiers. The previous Eliza Johnson gold coins had the same initial pricing, had a one week decrease, and then moved back to the original pricing.

The period of availability for each release of the First Spouse Gold Coin program has been somewhat erratic throughout the series. It seems that whenever a familiar pattern has settled in, the events or circumstances align to change it.

Back in 2007, the first three issues all managed to sell out of their maximum mintage of 40,000 on the first day of availability. The United States Mint responded by lowering ordering limits to one per household, which would remain in place for the next several releases, even after sales had cooled.

The following issues of the series remained available for approximately one year from the initial release date. The US Mint would end sales sales of one particular issue to coincide with the release of the coin one year ahead in the schedule. The only aberration to this pattern was when the US Mint ended sales of both the Letitia and Julia Tyler coins together to adjust for the extra coin issued for that year.

The next change in the pattern of availability came with the 2010-dated releases. Each issue carried a maximum mintage of 15,000 and there was no reason to believe sales would proceed any differently than in the past. In early 2011, the proof version of the James Buchanan's Liberty coin unexpectedly sold out with sales well under the maximum mintage. It turned out that the US Mint had struck fewer than the maximum mintage based on demand forecasts, and no further coins could be produced since it was already 2011. Similar sell outs occurred for the other 2011 issues, and now the only one that remains available is the proof version of the Mary Todd Lincoln coin.

The shifts in availability have contributed to some attractively low mintages throughout the series. It's probably safe to assume that new Julia Grant First Spouse Gold Coins will be available from the US Mint throughout 2011, but after that I suppose anything could happen.

Uncirculated Mary Todd Lincoln First Spouse Coin Sold Out

Late yesterday, the uncirculated version of the Mary Todd Lincoln First Spouse Gold Coin sold out at the US Mint. This continues the string of early sell outs experienced for the 2010 releases of the 24 karat gold coin series.

On February 8, the proof version of the James Buchanan's Liberty Coin unexpectedly sold out. This occurred after just a little more than five months of availability and at a sales level much lower than the maximum stated mintage. With the exception of the first three releases of the series, which sold out immediately at the full maximum authorized mintage, First Spouse Gold Coins had generally remained available for approximately one year.

The reason for the early sell out was because the US Mint had underestimated demand for the coins and did not produce enough to last for the expected duration of the product offering. Since the year 2010 had already closed, no further coins could be struck.

Similar early sell outs occurred for other 2010 releases. In March, the proof Jane Pierce, uncirculated Jane Pierce, and uncirculated Abigail Fillmore coins sold out. In April, the uncirculated James Buchanan's Liberty coin sold out.

In May, sales ended for the proof Abigail Fillmore coin, to coincide with the release of the Eliza Johnson coins. This was one instance where the coin did remain available for the full expected duration of the offering.

The Mary Todd Lincoln First Spouse Gold Coins originally went on sale December 2, 2010. In anticipation of higher demand for the issue, the US Mint had set the maximum mintage at 20,000 coins across the proof and uncirculated versions. This compared to a level of 15,000 set for the other 2010 releases.

The sell out of the uncirculated version occurs after just six months of availability. The latest available US Mint report shows sales of 3,760 coins, which seems very low for a coin that was expected to be one of the more popular issues of the series.

Included below are the last reported sales figures for each of the 2010 First Spouse Gold Coins. The only one that still remains available at the US Mint is the proof version of the Mary Todd Lincoln coin.

Abigail Fillmore Proof	6,143
Abigail Fillmore Uncirculated	3,489
Jane Pierce Proof	4,843
Jane Pierce Uncirculated	3,333
Buchanan's Liberty Proof	7,304
Buchanan's Liberty Uncirculated	5,348
Mary Todd Lincoln Proof	6,236
Mary Todd Lincoln Uncirculated	3,760

Eliza Johnson First Spouse Gold Coins

Today at 12:00 Noon ET, the US Mint will begin sales of the Eliza Johnson First Spouse Gold Coins. This release honors the spouse of the 17th President of the United States.
The obverse design features a portrait of Eliza Johnson designed by Joel Iskowitz. The inscriptions include her name, order and dates of the Presidential term, "In God We Trust", "Liberty", the date and mint mark.

On the reverse is a scene from a children's ball organized by Eliza Johnson for her husband's 60th birthday. The image includes three children dancing and a Marine band fiddler playing. The reverse inscriptions indicate the legal tender face value, weight and fineness of the gold content, "United States of America", and "E Pluribus Unum". The reverse was designed by Gary Whitley.

The US Mint has set a maximum mintage of 15,000 coins across both proof and uncirculated versions. This is the same level that was used for last year's issues, except for the Mary Todd Lincoln coin, which was limited to 20,000. There have been no First Spouse Gold Coins to reach the maximum mintage since the first year of the series in 2007.

Pricing has been set at $929.00 for the proof version and $916.00 for the uncirculated version. This is based on an average gold price within the $1,500 to $1,549.99 range. Pricing may be adjusted weekly based on changes in the gold price. There are no household ordering limits in place for the release.

Along with the 2011-W Uncirculated Gold Eagle being released today, this will be another interesting coin to watch. There are a number of factors that will possibly lead to low sales and low mintages.

The Eliza Johnson First Spouse Gold Coin is being released after a two month delay. Providing a similar delay is not experienced for the first 2012 issue, this should shorten the period of availability for collectors. If an earlier sell out does not occur, the US Mint generally ends sales to coincide with the release of the corresponding issue in following year.

Initial pricing for the coins will be the highest on record, with an increase of $75 from the last release. The escalating cost of the series may cause attrition to the collector base.

Lastly, many collectors have expressed negative opinions about the design. This is the first reverse design for the series that does not include an image of the spouse (with the exception of the Liberty subset coins issued for Presidents who served in office without a spouse). Holding a children's ball was also less historically significant than some of the other things Eliza Johnson did in her life. The US Mint clearly struggled with the designs for this particular coin and had to create a second set of design candidates, after criticism of the first design set for historical inaccuracies.

In general, the First Spouse Gold Coins that have performed best on the secondary market have had both low mintages and designs which collectors find pleasing. There seems to be a small but dedicated following for the entire series, but additional demand and higher prices for particular issues that meet these criteria.

Coin Update News Featured Article
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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.

Eliza Johnson

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.

Price Increase

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

More First Spouse Gold Coins Sold Out

Two of more of the 2010 First Spouse Gold Coins are now listed as sold out on the US Mint's website. The latest coins to sell out are the uncirculated versions of the Abigail Fillmore and Jane Pierce coins. Earlier sell outs included the proof versions of the Buchanan's Liberty and Jane Pierce coins.

The Abigail Fillmore coins originally went on sale March 18, 2010, resulting in just over a year of availability. The Jane Piece coins went on sale June 3, 2010, resulting in about nine and a half months of availability.

When the first of the 2010 issues started to sell out, it came as somewhat of a surprise. After the first year of the series, most issues followed a typical pattern of availability. Since none of the coins ever reached the maximum established mintage of 40,000 coins, they remained available "for approximately one year." In practice, the US Mint would end sales to coincide with the release of the issue one year ahead in the schedule.

For the 2010 releases, the US Mint reduced the maximum mintages to 15,000 per issue across proof and uncirculated versions, with the exception of the Mary Todd Lincoln coins which were set higher at 20,000.

The Mint apparently did not strike the coins to the full maximum mintage, but rather based on demand forecasts. It's becoming obvious that these forecasts have fallen very short of the mark. Currently, only four out of the eight coins issued for 2010 remain available: Proof Abigail Fillmore, Uncirculated Buchanan's Liberty, and the Proof and Uncirculated Mary Todd Lincoln coins.

Despite the early sell outs, none of the 2010 issues will establish a new mintage low for the First Spouse Gold Coin series. The last reported sales figures for each coin are shown below.

	Unc	Proof	Total
2007 Martha Washington	20,000	20,000	40,000
2007 Abigail Adams	20,000	20,000	40,000
2007 Thomas Jefferson’s Liberty	20,000	20,000	40,000
2007 Dolley Madison	12,541	18,355	30,896
2008 Elizabeth Monroe	4,519	7,933	12,452
2008 Louisa Adams	4,223	7,454	11,677
2008 Andrew Jackson’s Liberty	4,754	7,806	12,560
2008 Martin Van Buren’s Liberty	4,334	7,515	11,849
2009 Anna Harrison	3,537	6,250	9,787
2009 Letitia Tyler	3,152	5,163	8,315
2009 Julia Tyler	2,861	4,830	7,691
2009 Sarah Polk	3,501	5,157	8,658
2009 Margaret Taylor	3,430	4,787	8,024
2010 Abigail Fillmore	3,663	5,874	9,537
2010 Jane Pierce	3,491	4,843	8,334
2010 James Buchanan’s Liberty	5,579	7,304	12,883
2010 Mary Todd Lincoln	2,709	5,639	8,348

Proof Jane Pierce First Spouse Coin Sold Out

The US Mint's website is now showing the proof version of the 2010 Jane Pierce First Spouse Gold Coin as sold out. These coins originally went on sale June 3, 2010.

The maximum authorized mintage across both proof and uncirculated versions was set at 15,000. As of the most recent sales report, the US Mint had sold 4,828 proof coins and 3,238 uncirculated coins for a combined total of 8,066.

The final sales for the Jane Pierce proof coin will be amongst the lowest for a proof issue of the series so far. The proof version of the Margaret Taylor coin had last reported sales of 4,787, and the proof Julia Tyler had last reported sales of 4,830.

In the past, First Spouse Gold Coins have generally remained on sale until the entire maximum mintage had been sold or for approximately one year. For the latter criteria, the sales ending date has typically coincided with the release date for a new issue of the series.

After the similar, unexpected sell out for the proof version of the James Buchanan's Liberty Gold Coin, it now seems that the US Mint has under estimated the demand for some of the 2010 issues. Since the US Mint cannot strike more of the 2010-dated coins, sales are only able to continue as long as supplies remain available.

About a week before the current sell out, a reader had noticed that the proof Jane Pierce coins were shown as back ordered on the US Mint website. At various times, this status has suggested various things, but in this case it preceded a sell out. Currently, the uncirculated version of the Abigail Fillmore First Spouse Gold Coins are showing backorder status.

Proof James Buchanan's Liberty Coin Sold Out

According to the US Mint's website, the proof version of the James Buchanan's Liberty First Spouse Gold Coin has sold out. This is very unexpected as the coin has not reached the maximum authorized mintage and has only been available for about five months.

Although the proof version of the coin is sold out, the uncirculated version remains available for sale.

The maximum authorized mintage for the James Buchanan's Liberty coin was set at 15,000 across both the proof and uncirculated versions, with the ratio determined based on customer demand. As of the latest US Mint sales report, sales had reached 7,317 proof coins and 4,461 uncirculated coins, for a combined total of 11,778.

The general policy of the United States Mint for the First Spouse Gold Coin Program has been to allow sales of each release to continue until the maximum authorized mintage has been sold or for approximately one year, whichever occurs first.

During the course of the series, there were only three releases that sold out of the maximum authorized mintage- Martha Washington, Abigail Adams, and Thomas Jefferson's Liberty. Otherwise, sales were generally allowed to continue for the period of "approximately one year." In practice, sales for a particular issue would typically conclude to coincide with the start of sales for the issue one year ahead in the schedule.

There were two instances when sales ended earlier than expected. Sales of the proof version of the Andrew Jackson's Liberty Gold Coin ended about two weeks before the Sarah Polk coins went on sale. The second instance was for the Julia Tyler First Spouse Coins, which saw sales conclude after about ten months. This was because there were five coins issued in 2009 and four issued in 2010. To put the schedule back on track, the US Mint ended sales of both the Letitia and Julia Tyler coins when sales of the Jane Pierce coins began.

Sales of the James Buchanan's Liberty Gold Coins had been stronger than usual for the series due to the classic depiction of Liberty used on the obverse. The coin also represented the final issue of the "Liberty Subset". The four coins included use images of Liberty from classic U.S. coins since the Presidents served in office without a spouse.

Coin Update News: Latest US Mint Sales Report

2011 First Spouse Gold Coins

The United States Mint has announced the design selections for the 2011 First Spouse Gold Coins. The coins will feature Eliza Johnson, Julia Grant, Lucy Hayes, and Lucretia Garfield, the wives of the 17th to 20th Presidents.

These designs are announced somewhat later than usual, perhaps as a result of a longer design candidate review phase. When the Citizens Coinage Advisory Committee (CCAC) had reviewed the designs for the 2011 First Spouse Coins and 2012 Presidential Dollars, they only supported two out of the 55 candidates provided by the United States Mint.

They had voiced concerns that many of the obverse portraits seemed to be copies of portraits done by other artists. Of even greater concern were the glaring historical innacurracies present on some of the reverse design candidates, such as a scene which contained a sewing machine years before its invention.

As a result of the meeting, the CCAC formed a subcommittee on design excellence. Their task was to produce a visual definition of design excellence and develop specific recommendations for addressing the design quality for future coins. (The recommendations included in this report will be discussed in a future Coin Update article.)

The United States Mint also responded by providing newly prepared design candidates for two of the 2011 First Spouse Gold Coins. These were discussed by the Commission of Fine Arts (CFA) and the CCAC at meetings held in late November.

Due to a delay in obtaining information, articles covering theCCAC's discussion and recommendations for the follow up design candidates were just published today. You can read the separate articles covering Eliza Johnson and Lucy Hayes coins.

The final design selections which were made by the Secretary of the Treasury, after weighing the input of the CCAC, CFA, and United States Mint, are shown below.


The Eliza Johnson First Spouse Gold Coin features her portrait on the obverse and a scene from the children's ball held for President Andrew Johnson's 60th birthday. Three children are shown dancing, with a fiddler in the background. The obverse was designed by Joel Iskowitz, and the reverse was designed by Gary Whitley.

The CFA had supported the chosen obverse, while the CCAC had selected a different portrait. For the reverse, the final selection matched the CCAC's recommendation, while the CFA had chosen an alternate scene from the children's ball which included the First Lady.


The 2011 Julia Grant First Spouse Gold Coin features her portrait on the obverse, designed by Donna Weaver. The reverse of the coin features a scene of Julia Dent and Ulysses S. Grant riding on horseback at her family's plantation. This was designed by Richard Masters.

The CFA had supported the chosen obverse design, but was not satisfied with any of the reverse design candidates and made no recommendation. The CCAC did not make a recommendation for any of the provided obverse or reverse designs at their first meeting. In this case, the US Mint did not provide a second batch of candidates for the November meeting.


The Lucy Hayes First Spouse Gold Coin includes the First Lady's portrait on the obverse and a scene of the first White House Easter Egg Roll on the reverse. The obverse is designed by Susan Gamble, while the reverse is designed by Barbara Fox.

Both the CCAC and CFA had recommended the selected obverse and reverse designs. The reverse design was one of those included within the second batch of candidates reviewed in November.


The 2011 Lucretia Garfield First Spouse Gold Coin will be the last release of the series for the year. Her portrait appears on the obverse, designed by Barbara Fox, with a scene of her painting on the reverse, designed by Michael Gaudioso.

Both the CFA and CCAC had recommended a different obverse design, although both had supported the selected reverse design. The CFA did make a recommendation that the reverse design should be simplified by removing some background elements. The US Mint did act on this recommendation by eliminating the windows, drapery, and furniture that were originally present in the design.

Mary Todd Lincoln First Spouse Gold Coin

The US Mint will begin sales of the Mary Todd Lincoln First Spouse Gold Coins today, December 2, 2010 at 12:00 Noon ET. This will represent the final release of the year for the 24 karat series and one of the most well known First Ladies.



The obverse of the Mary Todd Lincoln Gold Coin features her portrait, as designed and sculpted by Phebe Hemphill. Inscriptions include "Mary Todd Lincoln", the motto "In God We Trust", "Liberty", order of the Presidency "16th", years served "1861-1865", and the date and mint mark.

On the reverse of the coin is s scene of Mary Todd Lincoln bringing books and flowers to wounded Civil War soldiers, designed by Joel Iskowitz and sculpted by Phebe Hemphill. The surrounding inscriptions include "United States of America", "E Pluribus Uumu", the face value "$10", bullion weight "1/2 oz", and fineness ".999 fine gold".

The coins will be available in proof or uncirculated versions, priced at $854 and $841, respectively. This will be the highest initial pricing for a coin of the series to date. The price is set based on an average gold price within the $1,350 to $1,399.99 range. Coin prices could change weekly based on the price of gold.

Sales levels for the 2010 releases of the First Spouse Gold Coins series have been outpacing the previous year, and the current release will no doubt continue the trend.

The US Mint has established a maximum mintage of 20,000 coins across both versions. This is 5,000 coins higher than the levels established for the other 2010 releases, but still just half of the limits established for the first three years of the series.

The Mary Todd Lincoln First Spouse Gold Coins are offered with no household ordering limits. The coins will remain available for sale until the maximum mintage has been sold, or approximately one year, whichever occurs first.

So far, the First Spouse Gold Coins that have experienced the best secondary market performance have been those with low mintages. Mintages reached their lowest point with the Julia Tyler Gold Coin, which was only available for about ten months due to scheduling.

Looking ahead to next year, the First Spouses honored will be Eliza Johnson, Julia Grant, Lucy Hayes, and Lucretia Garfield. With no obvious "hot spots" like this year's schedule and ever escalating prices, will a new mintage low be established?

2010 First Spouse Bronze Medal Set

Today, the US Mint will begin sales of the 2010 First Spouse Medal Series: Four Medal Set. This will coincide with the release of the Mary Todd Lincoln Gold Coin and individual bronze medal.
This year's set will include bronze medals featuring Abigail Fillmore, Jane Pierce, James Buchanan's Liberty, and Mary Todd Lincoln. Each of these medals is currently (or will soon be) offered for sale individually priced at $5.50. The medals are also included in the Presidential $1 Coin & First Spouse Medal Sets for each presidency.

The four medal set is priced at $15.95, which is a better value than purchasing the medals individually.

Duplicate bronze medals have been issued for each coin in the First Spouse Gold Coin series. These have provided an affordable option for collectors who wish to have an example of designs used on the one-half ounce 24 karat gold coins. Some of the medals, usually as incorporated into certain sets, have also marked strong secondary market price gains.

Each of the prior year annual medal sets seems to trade for at least some premium above the original issue price.

The annual sets have also sold out relatively quickly compared to other US Mint products. Last year's set went on sale December 3, 2009 and sold out by the first week of May 2010. While this was a six month period, it still represents a shorter availability than some other US Mint products, which can linger for a year or more.

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.

Buchanan's Liberty First Spouse Gold Coin

On September 2, 2010 at 12:00 Noon ET, the United States Mint will begin sales of the 2010-W James Buchanan's Liberty First Spouse Gold Coins. This will represent the 16th release in the overall series and the 4th and final release of the "Liberty subset".

The obverse design of the coin is based on Christian Gobrecht's Liberty Head Quarter Eagle, minted from 1840 to 1907. Inscriptions have been added indicating "15th Presidency", the years of the term "1857 1861", the motto "In God We Trust", and the date of issue "2010".

The reverse design features an image of a young James Buchanan working as a bookkeeper in his family's country store. Surrounding inscriptions include "United States of America", "E Puluribus Unum", and the coin's bullion weight, fineness, and legal tender face value. The reverse was designed by David Westwood and sculpted by Joseph Menna.

The maximum authorized mintage for the Buchanan's Liberty First Spouse Gold Coin has been set at 15,000 across proof and uncirculated versions. Based on the recent average price of gold, the coins will be priced at $779 and $766 for proof and uncirculated versions, accordingly. There will be no household ordering limits imposed.

On the same date, the US Mint will also begin sales of a 1-5/16 inch bronze medal duplicate. This medal will feature the same design as the gold coin, but with some inscriptions removed. The bronze medals are priced at $5.50 each.

The First Spouse Gold Coins "Liberty Subset"

While the broader series is intended to honor the First Spouses of the United States, four issues of the series feature depictions of Liberty taken from circulating coins issued during the corresponding Presidential term. These designs are used for Presidents who served in office without a spouse. Previously, this has included Thomas Jefferson, Andrew Jackson, and Martin Van Buren. The 21st President Chester A. Arthur also served without a spouse, but the authorizing legislation specifically calls for a design bearing the likeness of Alice Paul, who led a successful campaign for women's suffrage. She was born during the Presidency of Chester A. Arthur.

The previous designs used for the Liberty subset were from the Draped Bust Half Cent (Jefferson), Capped Bust Lettered Edge Half Dollar (Jackson), and Liberty Seated Dime (Van Buren).

These previous issues each had maximum authorized mintages of 40,000 coins across both proof and uncirculated versions. Only the first managed to reach the maximum, while the others had combined sales less than the maximum established for the upcoming Buchanan's Liberty coin. The last reported sales figures for the first three issues of the Liberty subset are shown below.

	Unc	Proof	Total
Jefferson's Liberty	20,000	20,000	40,000
Jackson's Liberty	4,754	7,806	12,560
Van Buren's Liberty	4,334	7,515	11,849

Sarah Polk First Spouse Gold Coins

On a final note, when sales of the Buchanan's Liberty coins begin, sales of the Sarah Polk First Spouse Gold Coins will likely end. These coins originally went on sale September 3, 2009. The US Mint has stated that sales of each issue of the series continue until the maximum authorized mintage is reached, or for approximately one year, whichever comes first. In practice, the Mint has ended sales of each issue when sales for the corresponding issue of the current year begin.

Through September 29, 2010, the US Mint has recorded sales of 3,395 uncirculated and 5,060 proof Sarah Polk coins, for a combined total of 8,455. This amount is higher than the current mintage low for the series, the Julia Tyler First Spouse Gold Coin, which had last reported sales of 2,861 uncirculated and 4,830 proof coins, for a combined total of 7,691.

Coin Update News: Latest US Mint Sales Report

Prices for 2009-W Julia Tyler First Spouse Gold Coins

Secondary market prices for 2009-W Julia Tyler First Spouse Gold Coins have moved substantially higher, following the conclusion of US Mint sales on June 2, 2010.

Recently completed auctions show prices for uncertified coins ranging from a low of $960 for an unopened proof coin to a high of $1,595 for an unopened uncirculated coin. For certified examples, prices range from a low of $795 for an example graded PCGS PR68DCAM to a high of $1,727 for an example graded PCGS MS70.

These prices come from a total of 11 completed eBay auctions from the past 15 days. The date, selling price, and basic details of each auction are shown below.

Completed Auction Prices for Julia Tyler $10 Gold Coins

July 3, 2010	$ 960	unopened proof
July 4, 2010	$ 795	PCGS PR68DCAM
July 4, 2010	$ 890	PCGS MS69
July 4, 2010	$ 925	PCGS PR69DCAM
July 7, 2010	$ 1,495	unopened unc
July 9, 2010	$ 1,595	unopened unc
July 10, 2010	$ 999	unc
July 10, 2010	$ 1,727	PCGS MS70
July 11, 2010	$ 999	proof
July 11, 2010	$ 2,326	unopened proof and unc
July 12, 2010	$ 1,600	NGC MS 70

Admittedly, as with many other issues of the First Spouse Gold Coin series, the availability and the market for the Julia Tyler coins is somewhat thin. Prices exhibit a very wide range and only a relatively small number of coins are bought and sold each week. Nonetheless, all prices are higher than the last available US Mint prices, in most cases by a wide margin. Just before the conclusion of sales the proof coins were available form the Mint for $779 and the uncirculated coins were available for $766.

The Julia Tyler First Spouse Gold Coins do have a number of positive aspects contributing to the higher prices.

These coins have the lowest reported sales figures among the First Spouse Gold Coins that are no longer available for sale at the Mint. The last reported sales figures (through May 30, 2010) indicate 4,820 proof coins and 2,861 uncirculated coins sold by the US Mint. These figures represent an extreme low on an historical basis for US Mint issued gold coins. The figures will also remain a low point for the First Spouse series for at least the next few months. The Sarah Polk First Spouse Gold Coin, which is expected to see sales end on September 2, 2010, already has sales figures exceeding the levels of the Julia Tyler coin.

In addition to the low sales levels, the conclusion of sales for the Julia Tyler coins may have been unexpected for some collectors (although not to Mint News Blog readers). When the Jane Pierce coins were released on June 2, 2010, sales of both the Letitia Tyler and Julia Tyler coins were concluded. Typically, the US Mint has ended sales of the longest available coin to coincide with the release of a new coin. In this case, the US Mint ended sales of the longest available two coins. The change was necessary because five coins were issued for the series during 2009 instead of the usual four. It's also worth noting that the Julia Tyler coins were only available for about 10 months, compared to the usual 12 or 13 months for previous issues of the series that did not reach the maximum authorized mintage.

The combination of low mintage, unexpected conclusion of sales, and a nice design may have woken up some collectors to the potential of the Julia Tyler coin. Demand and prices for the coin will bear watching, but for now it looks like adherents of the First Spouse Coin series have a winner on their hands.

First Spouse Gold Coins - Last Reported Sales Figures

With this post, I wanted to summarize the last reported sales figures for each release of the First Spouse Gold Coin series. This now includes a total of fifteen different coins in proof and uncirculated versions. Eleven of the coins are no longer available for sale at the US Mint, and four coins remain currently available.

The US Mint has not yet provided sales figures for the recently released 2010 Gold Buffalo Proof Coin, which many readers have been waiting for. Additionally, the last available sales figures for the Letitia Tyler and Julia Tyler First Spouse coins remain unchanged from the prior week. For a while now, the US Mint has not been reporting final updated sales figures for products which had sales end during the weekly reporting period.

Until final audited mintage figures are reported, these figures will remain the best available numbers. I think the final numbers will probably be very close to these, if not lower. In the past, whenever final audited numbers have been released for collectible gold and silver coins, they have been a few percent lower than the last reported sales figures.

First Spouse Gold Coin Sales Figures

	Proof	Unc	Total
Martha Washington	20,000	20,000	40,000
Abigail Adams	20,000	20,000	40,000
Jefferson's Liberty	20,000	20,000	40,000
Dolley Madison	18,355	12,541	30,896
Elizabeth Monroe	7,933	4,519	12,452
Louisa Adams	7,454	4,223	11,677
Jackson's Liberty	7,806	4,754	12,560
Van Buren's Liberty	7,515	4,334	11,849
Anna Harrison	6,250	3,537	9,787
Letitia Tyler	5,163	3,152	8,315
Julia Tyler	4,830	2,861	7,691
Sarah Polk	4,687	2,841	7,528
Margaret Taylor	3,851	2,294	6,145
Abigail Fillmore	4,292	2,365	6,657
Jane Pierce	1,579	855	2,434

Lines listed in italics are coins that remain available for sale.

The Julia Tyler coin sets a new (perhaps temporary) sales low for the series with 4,830 proofs and 2,861 uncirculated coins reported sold, for a combined total of 7,691. This is less than 20% of the maximum authorized mintage level of 40,000 coins. Starting with the 2010 releases the maximum mintage levels were decreased.

Julia Tyler First Spouse Coins were only available from the US Mint for roughly ten months, contributing to the lower sales. It seems likely that Sarah Polk sales will surpass the numbers at some point, although it will be less certain for the Margaret Taylor release.

The newly released Jane Pierce coins have set a low for initial sales figures. The coins went on sale June 3, 2010 and sold a combined 2,434 coins through June 6. The previously released Abigail Fillmore coins sold 2,881 during its debut sales period. Higher prices likely contributed to the decline, causing some buyers to take pause or drop out of the series. The Jane Pierce coins carried the highest initial prices for any release of the series at $779 for proof coins and $766 for uncirculated coins.

This week's full US Mint sales report, which also includes debut figures for the Yellowstone National Park Quarter products, is available at Coin Update News.

There has been a continual debate within reader comments about whether or not the extremely low mintages of the First Spouse Gold Coins will eventually translate into substantially higher secondary market values.

One side of the debate is that on a historical basis, commemorative or collectible US Mint coins which have been unpopular during their period of release and experienced low sales have later become desirable, low mintage rarities which sell at big premiums. Examples of this include the 1995-1996 Olympic Commemorative Coins or the 1997-W Uncirculated Jackie Robinson $5 Gold Coin.

The other side of the debate is that First Spouse Gold Coins are unpopular now and will always remain unpopular despite the low mintages. Even though there are very few coins available, this amount will be sufficient to satisfy the continued low demand. The coins will never attain the allure of other low mintage rarities because rather than a single low mintage issue amongst a broader series with higher mintages, nearly all coins of the series will have low mintages.

Personally, I continue to sit squarely in the first camp. I collect the series for a number of reasons, and the prospect of higher secondary market prices is one of them. So far the prices for low mintage issues that are no longer available for sale have crept higher in line or sometimes faster than the rise in the price of gold. In the future, hopefully prices will continue to move upwards gradually or perhaps there will be a spark or interest that creates a more dramatic move. I will continue to be patient and collect the series for the duration.

New Content on CoinUpdate.com

I wanted to take an opportunity to mention new content which will be appearing at CoinUpdate.com. Michael Alexander of the London Banknote and Monetary Research Centre will be contributing a series of interviews with various world mint leaders and others within the coin industry, as well as ongoing coverage of new coin releases from a selection of European Mints.

Michael Alexander's first article published today is an interview with someone well known to U.S. coin collectors and Mint News Blog readers.

Read the article: Interview with Edmund Moy, Director of the United States Mint

2010 Jane Pierce First Spouse Gold Coin

Tomorrow June 3, 2010 at 12:00 Noon ET, the 2010 Jane Pierce First Spouse Gold Coin and Bronze Medal will go on sale at the United States Mint. This will mark the second release of the year for the 24 karat gold coin series, and the fifteenth release since the series began in 2007.

The Jane Pierce First Spouse Coin features a portrait of the First Lady on the obverse, as designed by Donna Weaver and sculpted by Don Everhart. The reverse depicts her sitting and listening to debates in the visitor's gallery of the Old Senate Chamber in the U.S. Capitol Building. This image was also designed by Donna Weaver, but sculpted by Charles L. Vickers.

The gold coins are struck at the West Point Mint and carry the "W" mint mark. Each coin contains one half ounce of 24 karat gold and is available in either proof or uncirculated format.

Based on recent gold prices, the proof version will be priced at $779 per coin and the uncirculated version will be priced at $766 per coin. These will represent the highest initial offering prices for an issue of the series. The prior release featuring Abigail Fillmore had coins initially priced at $729 and $716. The Margaret Taylor coins had previously carried the highest initial pricing at $754 and $741.

There is a mintage limit of 15,000 coins set across both proof and uncirculated versions of the Jane Pierce First Spouse Gold Coins. There will be no household ordering limits imposed. This year the US Mint lowered the maximum mintages after maintaining the level at 40,000 coins for the first two years of the series.

To coincide with the new release, sales of the Letitia Tyler and Julia Tyler coins are expected to end tomorrow. These coins will be notable in that they will once again set a new mintage low for the First Spouse Gold Coin series.

As of the latest US Mint sales report, the Letitia Tyler First Spouse Coin has sold 3,152 uncirculated and 5,163 proof coins for an overall total of 8,315. The Julia Tyler First Spouse Coin has sold 2,861 uncirculated and 4,830 proof coins for an overall total of 7,691. In comparison to other gold coins issued by the United States Mint during the past few decades, these levels are undeniably minuscule.

Coin Update News: Complete US Mint Sales Report

Another First Spouse Gold Coin Price Increase Tomorrow?

The price of gold broke above $1,200 per ounce last week and has continued to move higher today. Based on the available London Fix gold prices, it is once again possible that the US Mint will adjust prices higher for available First Spouse Gold Coins.

The last price increase took place a just week ago on May 5, 2010, when the average weekly price of gold came in above $1,150 per ounce. Another price increase will take place if the average of the London Fix prices from the prior Thursday AM to the current Wednesday AM (tomorrow) is $1,200 or greater.

Here are the relevant prices for this weekly period:

Thurs AM - May 6	1,178.00
Thurs PM - May 6	1,185.25
Fri AM - May 7	1,199.60
Fri PM - May 7	1,202.25
Mon AM - May 10	1,188.25
Mon PM - May 10	1,196.50
Tue AM - May 11	1,209.00
Tue PM - May 11	1,222.50
Wed AM - May 12	?

By my calculation, a London AM Fix price of $1,218.65 or higher for tomorrow morning would trigger a price increase. Price increase are generally put into effect by the US Mint on Wednesday around mid-morning.

An increase would put price levels for First Spouse Gold Coins at the highest levels ever. The uncirculated coins would be priced at $766 each and the proof coins would be priced at $779 each.

The lowest prices for First Spouse Coins this year were in effect from January 27 to February 23, 2010 while the average price of gold was in the $1,050 to $1,099.99 range. The prices were $691 for uncirculated coins and $704 for proof coins.

If higher gold prices persist, this will also impact upcoming gold numismatic products. The US Mint plans to release the 2010 Proof Gold Buffalo on June 3, 2010. If gold remains within the current range, the coins would be priced at $1,510 each. When the 2009 Proof Gold Buffalo was released late last year, the initial price was $1,360.

Also scheduled for release on June 3, 2010 will be the Jane Pierce First Spouse Gold Coins. The previous release of the series featuring Abigail Fillmore was initially priced at $716 and $729 for uncirculated and proof coins, respectively.

2009 First Spouse Bronze Medal Set Sold Out

The 2009 First Spouse Bronze Medal Set has recently sold out at the United States Mint. This set contained all five of the First Spouse medals issued for last year.

The sets were first offered for sale at the US Mint on December 3, 2009, which means the set had a relatively short offering period of about six months.
Each set contained the 1- 5/16 inch bronze medals for Anna Harrison, Letitia Tyler, Julia Tyler, Sarah Polk, and Margaret Taylor. The designs of the medals are taken from the corresponding First Spouse Gold Coins, but with some inscriptions removed.

An interesting aspect to this set was the pricing. Effective March 18, 2010, the US Mint increased the prices of the individual First Spouse medals from $3.50 to $5.50 each. However, the five medal set remained priced at $15.95, making it seem like a bargain relative to the higher individual prices.

At the time of the price increase (and currently), three of the five First Spouse medals issued during 2009 still remained available for sale individually. These are the medals for Julia Tyler, Sarah Polk, and Margaret Taylor. After the pricing change, collectors could have purchased the full five coin set for less than the cost of the three individual coins.

Compared to other bronze medals produced by the US Mint, the First Spouse medals have been offered for a more limited time period. Some of the humanitarian/cultural medals have remained available for years and some of the Presidential medals seem to be available indefinitely.

Coin Update News: Mother's Day Commemorative Coin Act

Prices Likely to Increase for First Spouse Coins

Prices for the United States Mint's First Spouse Gold Coins are likely to rise tomorrow, based on the latest available gold price data. Under the US Mint's current policy, gold coin prices may be adjusted weekly if the calculated weekly average price of gold moves across pricing threshholds set at $50 increments.

The average price of gold is calculated based on the London Fix gold prices from the prior Thursday AM to the current Wednesday AM. The prices for this period are shown below. Note that Monday was a UK bank holiday.

Thurs AM, Apr 29	1,170.00
Thurs PM, Apr 29	1,166.75
Fri AM, Apr 30	1,175.25
Fri PM, Apr 30	1,179.25
Mon AM, May 3	N/A
Mon PM, May 3	N/A
Tue AM, May 4	1,184.25
Tue PM, May 4	1,185.00
Wed AM, May 5	?

The average of the above prices comes to $1,176.75. Although one more price remains, it is highly likely that the final average will remain above the $1,150 mark, which will result in higher prices.

The proof versions of the First Spouse Gold Coins would increase from $729 to $754 and the uncirculated versions would increase from $716 to $741. Price changes are usually made around mid-morning on Wednesday.

After the increase, prices will be back to their highest levels ever. Coins were previously priced at these levels from late November to mid-December and then for a one week period in mid-April.

Although the First Spouse Gold Coins are not as popular as some of the US Mint's traditional collector gold coins, the series has developed a following of collectors who are often focused on the extremely low mintages. Some collectors have also taken focus on the "Liberty subset" of the series. This consists of four coins issued for Presidents who served without a spouse, which feature classic coin designs from the era in which each President served. The last coin in the subset will be issued this year for James Buchanan.

The latest sales figures for the available First Spouse Gold Coins are shown below. A full US Mint sales report is available on Coin Update News.

Letitia Tyler Proof	5,078
Letitia Tyler Uncirculated	3,164
Julia Tyler Proof	4,713
Julia Tyler Uncirculated	2,779
Sarah Polk Proof	4,545
Sarah Polk Uncirculated	2,721
Margaret Taylor Proof	3,607
Margaret Taylor Uncirculated	2,168
Abigail Fillmore Proof	3,827
Abigail Fillmore Uncirculated	2,140

Sales activity from the latest week shows that buyers have been focused on the uncirculated Letitia Tyler coins, uncirculated Margaret Taylor coins, and both versions of the Abigail Fillmore coins.

The Letitia Tyler coins will be the next coins to go off-sale at the US Mint. Generally, the Mint has ended sales of the oldest coin once a newer coin is released. This year the procedure may have to be altered since there were five releases during 2009, rather than the typical four. The next coin in the series featuring Jane Pierce is expected to go on sale in June.

The Margaret Taylor coins may be attracting attention as a possible low mintage point for the series. As of last week, sales levels for the more recently released Abigail Fillmore coins exceeded total sales of the Margaret Taylor coins. A strong week for the Taylor coins has narrowed the gap and put the uncirculated version back ahead.

First Spouse Gold Coin Prices Likely To Rise

The recent London Fix gold prices suggest that a price increase will likely take place tomorrow for the United States Mint's available First Spouse Gold Coins. These coins are the only numismatic gold coin offerings currently available from the Mint.

The US Mint's current pricing policy for numismatic gold and platinum coins allows the adjustment of prices as frequently as once per week in response to changes in the price of the metals. The average price is calculated for a one week period from the prior Thursday AM to the current Wednesday AM. If the average price for the period moves into a different tier (set at $50 increments for gold coins), product prices are adjusted accordingly.

The London Fix Gold Prices for the current period are the following:

Apr 8 Thurs AM	1,146.50
Apr 8 Thurs PM	1,148.00
Apr 9 Fri AM	1,156.00
Apr 9 Fri PM	1,152.50
Apr 12 Mon AM	1,163.50
Apr 12 Mon PM	1,158.75
Apr 13 Tue AM	1,149.25
Apr 13 Tue PM	1,148.25
Apr 14 Wed AM	?

As long as the Wednesday AM London AM Fix gold price comes in at $1127.25 or higher, then the average price of gold for the period will be $1,150. Available First Spouse Gold Coins are currently priced based on an average gold price in the $1,100 to $1,149.99 tier.

The First Spouse Coin prices would increase from $729.00 to $754.00 for proof coins and from $716.00 to $741.00 for uncirculated coins. These will bring prices back to their highest levels ever. Prices were previously at these levels from November 24 to December 16, 2009.

The US Mint has generally made price adjustments around mid-morning Wednesday. The current prices would continue to be available today and early tomorrow morning until the update is made.

Currently available First Spouse Gold Coins include the 2009 releases for Letitia Tyler, Julia Tyler, Sarah Polk, and Margaret Taylor, and the 2010 release for Abigail Fillmore.