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If you have to think, you won’t buy

One week from today the Mint will put the next First Spouse gold coins on the market. Because Andrew Jackson, our seventh President, was a widower at the time, his First Spouse gold coin will feature a Capped Bust design that was used on coinage during his term of office, 1829-1837.

Will this classic design help sales? The Mint needs a boost from somewhere. Each new issue is being purchased by fewer and fewer collectors.

The Louisa Adams total is just about 7,000 coins. This number includes both the proofs and the uncirculateds.

When the first First Spouse coin was offered for Martha Washington, the 40,000 maximum was sold out the same day. The same held true for Abigail Adams and Thomas Jefferson.

Since Dolley Madison went on the market late last year, the pace of sales and the number of coins sold have declined. Dolley is only about three-quarters sold. Elizabeth Monroe is hardly more than Louisa Adams at just over one-quarter sold.

Will we ever have another sellout? That is a good question, but we will have to wait for approximately 33 more issues over the next eight or so years to find out.

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One Response to If you have to think, you won’t buy

  1. Bradley R. Hutson says:

    According to the press release that I read on the U.S. Mint website, the prices for the Jackson’s Liberty First Spouse Coins will remain the same as the previous two offered this year, $619.95 for a proof and $599.95 for an uncirculated. This is despite the fact that the market price of gold has plummetted in recent days, and at the time of this writing is much lower than it was shortly before the Elizabeth Monroe coins went on sale. It was at that point that the market price of gold helped determine what the issue price of those coins would be. Since gold spot is much lower now, common sense would dictate that the prices of the soon to be released coins should have been lower than the earlier 2008 coins as well. I don’t know why I even bothered to cling to the hope that the Mint might lower the prices somewhat this time, seeing as how they expect this design to be much more popular than the previous 2008 designs. They know that the die-hards (in other words, those of us who have bought the Monroe and Adams coins already despite the inflated prices) will buy this one too at the same price. They also know that those who want the classic designs but not the spouse designs will be more likely to buy this one despite the higher price. That being the case, why not gouge the buyers for as much money as they can get out of these coins? With each new release, the percentage markup over gold spot is getting higher and higher. It’s frustrating.

    What is interesting to note this time around is the higher order limit. Unless what I saw in the press release was a typo, the Mint plans to limit sales to 10 per product option per household for the first week. That is a far cry from the limit of 1 per option per household that the Jefferson through Adams coins had, and is in fact the highest initial order limit yet for ANY spouse gold coin (remember that Martha Washington and Abigail Adams had limits of 5 per option.) I guess the way the Mint is always preaching about "fair access" to their products has now gone out the window due to the fact that the coins are "sitting on the shelves" now. I figure they are gambling that the higher order limit might help ensure that these coins will move fast. At 10 per option per household, theoretically a mere 2,000 buyers could wipe out the entire issue. That doesn’t sound like very "fair access" to the coins to me. Chances are the demand won’t be that great, but if enough speculators gamble on this classic design and order the limits, the issue COULD sell out in a few hours, leaving a lot of people out. That would likely result in a repeat of the Martha Washington/Abigail Adams situation, at least in the short-term.

    Sorry that I got a little long-winded there. Obviously, this is a topic I love to write and talk about!

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