Collector's hit with price increase for First Spouse Coins
Collector's were hit witha big price increase when trying to purchase the Dolley Madison First Spouse Coins. The proof Dolley Madison coins went on sale for $529.95,while the uncirculated Dolley madion coins went on sale for $509.95. This represents approximately a 25% increase in price from the first three coins in the series. The reason for the increase is the increase in the cost of gold bullion.First Spouse Coins
Images from the US mint.
This year will mark the beginning of two new series of coins. Over a billion presidential dollars will be minted this year depicting the first four presidents of the United States. These are designed as circulating coins. Of course, Americans haven't been interested in circulating dollar coins for the last two centuries, so I'm not sure why they will start now. For each presidential coins made, there will be a "First Spouse" ten dollar gold coin. Originally, they were to be called the "First Lady" coins. The mint quickly changed the name to "First Spouse" coins after polls showed Hillary Clinton with a chance to win the democratic nomination for president.
Investment potential for first spouse coins
Originally, the mint offered a "subscription" program, where people could subscribe to the 20007 series of 4 coins. In the first three days, the mint received thousands of orders. They responded by cancelling the subscription program in order to ensure a distribution that was "more fair." Now individual coins can be ordered starting at noon on the official release dates. The mint is limiting orders to 5 coins per type per adress.
My view of this is that the mint feels demand will be heavy. If the series catches on, it is likely that the first year's coins will be relatively scarce and in highest demand. Martha Washington, Abigail Adams, and Dolley Madison are well-known figures in American history. When the Abigail Fillmore coin is released, it is not clear if the demand will be as intense.
Proof vs. uncirculated First Spouse Coins
For the first year, the mintage of each coin is limited to 40,000, which is the total of uncirculated and proof coins. For the first three coins in the series,the mint produed equal numbers of proof and uncirculated coins. This fact, however, was not announced prior to the sale. The Dolley Madison coins are explicitly limited to 20,000 proof coins and 20,000 uncirculated coins.
Martha Washington First Spouse Coin
The Martha Washington coin will be released simulatanously with the Abigail Adams Coin on June 19, 2007. The reverse of the Martha Washington coins shows Martha sewing a button onto George's military uniform.
During the Revolutionary War, Martha Washington organized sick wards and persuaded the society ladies of Morristown to roll bandages from their fine napkins and tablecloths, as well as to repair uniforms and knit shirts for the poorly equipped Continental soldiers.
Abigail Adams First Spouse Coin
Abigail Adams was first lady from 1797 to 1801. The coin will be released on June 19,2007 (along with the Martha Washington coin). The reverse of the coins shows Abigail Adams writing a letter. She is best known for writing to her husband insisting that he "remember the ladies" when creating the framework for the new government.
The Jefferson Liberty coin
When Thomas Jefferson was president (1801 to 1809), there was no first lady. Jefferson's wife, Martha, died in 1782. The coin has a depiction of liberty from a half cent that circulated at the time of Jefferson. The coin was supposed to be released August 16, 2007.
Dolley Madison First Spouse Coin
Dolley Madison was First Lady from 1809 to 1817, although she also served as a White House Hostess for events under Thomas Jefferson. George Washington makes an appearance on the reverse of the coin. In 1814, Dolley Madison saved the painting (a portrait of Washington by Gilbert Stuart) and the Cabinet papers (which she clasps in her hand). The coin is expected to be released November 15, 2007.
This is Dolley Madison's second appearance on a coin. She appeared on a commemorative dollar in 1999.
