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.

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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

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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.

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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?

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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.

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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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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

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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.

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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

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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

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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.

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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

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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.

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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.

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Opening Sales Figures for Abigail Fillmore Gold Coins

The latest weekly US Mint sales report published on Coin Update News provides the opening sales figures for the recently released Abigail Fillmore First Spouse Gold Coins. So far, the reduced maximum mintage has failed to inspire materially stronger sales.

From the initial release date on March 18, 2010 through the sales reporting date of March 21, 2010, the US Mint sold 1,824 proof coins and 1,057 uncirculated coins. This makes for a total of 2,881 coins and accounts for 19% of the overall 15,000 maximum mintage. Previous releases of the series had maximum mintages set at 40,000.

I was surprised that the reduced maximum mintage had so little impact on the opening sales figures. When I wrote prior to the release of the Abigail Fillmore coins, I offered the opinion that sales would be stronger than the previous release. This turned out to be true, but not by a material amount.

The opening sales figures for the Margaret Taylor First Spouse Coins were 1,791 proof coins and 1,048 uncirculated coins for a combined total of 2,839. Looking back further, opening sales for the Sarah Polk First Spouse Coins were 1,684 proof coins and 921 uncirculated coins, for a combined 2,605.

At this point, it seems like the First Spouse Gold Coin series has stabilized, with low but steady demand across recent releases. Later in the year, this may change when the James Buchanan's Liberty and Mary Todd Lincoln coins are released. Whether the popularity of these two issues has an impact on the broader series remains to be seen.

Updated figures were not provided by the US Mint for the Anna Harrison First Spouse Gold Coins. Sales for this offering recently concluded on March 18, 2010. The last reported figures covered sales through March 14, 2010 and showed sales of 3,537 uncirculated coins and 6,250 proof coins. For now, these will remain the last available sales figures.

Check out the full US Mint Sales Report.

America the Beautiful Quarters Unveiling Ceremony

On a separate note, today March 24, 2010 at 12:00 Noon ET, the United States Mint will be unveiling the reverse designs for the first five America the Beautiful Quarters.

The event is apparently only open to members of the media, however, there will be a webcast available online at http://americathebeautifulquarters.gov/webcast . I have been told that this new site will go live about 15 minutes before the start of the ceremony.

I will be back with another post later today to showcase the released designs. For now, you can take a look at the 2010 America the Beautiful Design proposals.

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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

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Abigail Fillmore First Spouse Gold Coins

The United States Mint will begin sales of the 2010 Abigail Fillmore First Spouse Gold Coins later this week on March 18, 2010 at 12:00 Noon ET. This will be the first release of the series for the year. Recently revealed product information suggests that this release may present an important shift for the series.

The Abigail Fillmore coin features the First Lady's portrait on the obverse designed by Phebe Hemphill. The reverse, designed by Susan Gamble, features an image of her shelving books at in the White House Library that she established. Abigail Fillmore was the First Lady during the Presidency of her husband Millard Fillmore.

As with the prior releases of the series, proof and uncirculated versions will be available, with both versions struck at the West Point Mint. Each coin will contain one-half ounce of 24 karat gold. If the average price of gold remains within the $1,100 to $1,149.99 range, then the proof version will be priced at $729 and the uncirculated version will be priced at $716.

In an unexpected shift, the US Mint has announced that the maximum authorized mintage will be set at 15,000 across both the proof and uncircualted product options. The split between proof and uncirculated coins will be determined based on demand. There will be no household ordering limits imposed.

In the past, the US Mint has set the maximum authorized mintage at 40,000 coins across both options. Furthermore, they have usually begun sales with an ordering limit of ten coins per option per household in place.

By setting a maximum mintage only slightly above the sales level for the past few issues and removing the initial household limits, the US Mint is providing a much more tantalizing product.

This might be just the boost that the series needs to bring attention to the extremely low mintage of some of the prior issues. The current mintage low among the coins no longer available for sale is the Louisa Adams First Spouse Coin with combined final sales of 11,677 (4,223 uncirculated and 7,454 proof).

An interesting question is also raised by the newly set maximum authorized mintage- will the US Mint use this for all coins of the series going forward? The Mary Todd Lincoln First Spouse Gold Coin slated for release in December was already expected to be popular. If the maximum mintage is set at 15,000, this would contribute to a quick sell out and likely swift secondary market appreciation.

Separately, the US Mint will begin sales of the Abigail Fillmore Bronze Medals on the same date. The medals will be priced at $5.50 each. This is an increase of $2 from the price of last year's individual medals.

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US Mint Price Increase and Anna Harrison First Spouse Coin Sales

Tomorrow around mid-morning, the prices for the US Mint's numismatic gold coins will likely be raised. Under the US Mint's pricing policy, the prices for numismatic gold and platinum coins may be adjusted once per week in response to changing precious metals prices.

The Mint calculates the average price of gold based on the London Fix prices from Thursday AM of the prior week to Wednesday AM of the current week. The relevant prices so far are indicated below:

Thurs Feb 18 AM	1,105.50
Thurs Feb 18 PM	1,118.00
Fri Feb 19 AM	1,107.00
Fri Feb 19 PM	1,112.75
Mon Feb 22 AM	1,119.75
Mon Feb 22 PM	1,115.25
Tue Feb 23 AM	1,112.00
Tue Feb 23 PM	1,107.00
Wed Feb 24 AM	?

As long as tomorrow's London AM Fix comes in above $1,002.75, then the average price will be within the $1,100 to $1,149.99 price range, prompting an increase. The coming price increase would take place after two price decreases on December 16, 2009 and January 27, 2010.

The price for the 2009 Gold Buffalo Proof Coin would be raised from $1,360 to $1,410. The price for the proof First Spouse Gold Coins would be raised from $704 to $729. The price for the uncirculated First Spouse Coins would be raised from $691 to $716.

For the past few weeks the spot price of gold has increased while the prices for US Mint numismatic gold coins has remained stable. This has led to elevated sales levels for the available gold products.

One particular coin that I wanted to point out is the uncirculated version of the Anna Harrison First Spouse Gold Coin. In the past three weeks, the US Mint has recorded sales 295 coins, bringing total sales from 3,153 to 3,448. In each reporting period, this particular coin had the highest sales out of all available First Spouse Gold Coins. Before the recent surge in demand, the Mint had been selling fewer than 15 coins per week.

The higher interest in this coin can be attributed to several factors. First, along with other gold coins, collectors are placing orders with the rising price of gold and ahead of the impending price increase. Second, sales of the coins are expected to end next month when sales of the next issue of the series begin (or sooner as happened on one occasion). Third, the coin will likely mark a new mintage low for the First Spouse Gold Coin series. The current low mintage (for coins no longer available directly from the US Mint) is held by the Louisa Adams uncirculated coin with last reported sales of 4,223.

I have been closely watching the First Spouse Gold Coin series for a while, since I believe that some of the low mintage coins and the Liberty subset will eventually gain more widespread appreciation. While I am not convinced that the Anna Harrison uncirculated coin will represent the exact low mintage point for the series, it will probably be among the lowest and worthy of some consideration ahead of the price increase.

Today on Coin Update News: Full US Mint Sales Report

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2009 Proof Platinum Eagle and Margaret Taylor First Spouse Gold On Sale Today

Today December 3, 2009 at 12:00 Noon ET, the United States Mint will begin sales of the 2009 Proof Platinum Eagle and the Margaret Taylor First Spouse Gold Coin. These will be two of the final major product releases for the US Mint this year.

2009 Proof Platinum Eagle

The last time I wrote about the 2009 Proof Platinum Eagle, the projected price of the coin was $1,692. Since the average London Fix price of platinum has moved into a higher range, the price of the coin will be $1,792.

The coins will be packaged differently than in prior years. Based on images posted on the US Mint's website, the one ounce proof coin will be placed in a tri-fold binder. One side will display the narrative "To Form a More Perfect Union" by Chief Justice John G. Roberts, Jr., which inspired the reverse design. The other side will have the certificate of authenticity and the coin specifications.

The 2009 Proof Platinum Eagle will be limited to 5 coins per household for at least the first week of sales. After this time, the US Mint will re-evaluate the limit and extend, adjust, or remove it. The maximum authorized mintage for the coin is set at 8,000 coins.

Prospects for the 2009 Proof Platinum Eagle seem mixed. It does represent the only platinum coin that will be issued by the United States Mint this year, which adds a unique aspect. The maximum mintage of 8,000 means that if the entire amount is sold, there would be three one ounce proof Platinum Eagles with lower mintages. This would limit the coins status within the broader series. The lowest mintage is the 2008 Proof Platinum Eagle at 4,769 coins.

Is a sell out possible? Back in 2007, the US Mint released the 10th Anniversary Platinum Eagle Set, which was initially priced at $1,949.95 with a maximum mintage of 30,000 sets. This product managed to sell 14,862 sets in the first week. However, this was hot on the heels of the secondary market success of the 20th Anniversary Gold and Silver Eagle Sets. More recently, the US Mint sold 19,468 of the one ounce 2009 Proof Gold Buffalo in the opening three days. However, the Gold Buffalo coins definitely have a wider collector base than the Platinum Eagles.

Personally, I am leaning towards a sell out for the 2009 Proof Platinum Eagle, but not an immediate one. Opening sales figures should provide a better indication of whether a sell out is possible and when it might occur. This information should be available by Tuesday and will be posted on Mint News Blog.

Margaret Taylor First Spouse Gold Coin

The Margaret Taylor First Spouse Gold Coin will be the final release of the year for the series and carry the highest initial offering price. The one half ounce proof coin will be priced at $754 and the one half ounce uncirculated coin will be priced at $741.

In September, the prior release of the series featuring Sarah Polk carried initial prices of $654. and $641. This will make the Margaret Taylor coins priced a full $100 higher.

The US Mint has placed an initial ordering limit of ten coins per option per household for the first week of sales. This limit will be re-evaluated and extended, adjusted, or removed. The maximum authorized mintage for the coin across both proof and uncirculated options is 40,000. Recently, First Spouse Gold Coins have been reaching around 30% of the maximum.

Due to the higher price of the coin and continuing attrition to the collector base of the series, some have suggested that the Margaret Taylor coin might eventually end up with one of the lowest mintages for the series. To make a counter argument, it's starting to seem that higher gold prices are actually starting to spur additional sales. In the prior weekly reporting period, the US Mint sold 661 First Spouse Gold Coins. This is double the number of coins sold four weeks ago and triple the number of coins sold six weeks ago. The coins were offered at prices $50 and $75 lower during those periods.

On a final note, to coincide with the release of the Margaret Taylor coin, the Van Buren's Liberty First Spouse Gold Coin will go off sale today. The last reported sales indicate 7,515 proof coins sold and 4,334 uncirculated coins sold.

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2009 First Spouse Bronze Five Medal Set

To coincide with the release of the Margaret Taylor First Spouse Gold Coin, the US Mint will also release the bronze medal version of the coin and a complete 2009 five medal set. The products will be available December 3, 2009 at 12:00 Noon ET.

The Margaret Taylor Bronze Medal features the design of the gold coin with some inscriptions removed. The 1 5/16-inch bronze medals will be priced at $3.50 each.

Individual medals have been available for each release of the First Spouse Gold Coin series. Of this year's offerings, only the Julia Tyler and Sarah Polk medals remain available. The Anna Harrison and Letitia Tyler medals have sold out of the individual options.
The 2009 First Spouse Bronze Five Medal Set will include each of the bronze medals released for this year's First Spouse Gold Coins. The five medal set is priced at $15.95. This is an increase of $3 over last year's offering price of $12.95, although last year's set included only four medals.

I have written before about the strong performance for some of the previous First Spouse Bronze Medals. Recent releases haven't experienced the same dramatic price increases as some of the 2007 releases, but the medals seem to remain popular with collectors.

The 2007 Four Medal Set has been selling for around $40 to $50 on the secondary market. The 2008 Four Medal Set has sold for around $20. This set received some attention earlier this year when a mule error was discovered pairing the Abigail Adams obverse with the Louisa Adams reverse. Sets containing the error once sold for more than $500 each.

Today on Coin Update News: US Mint Weekly Sales Report

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