Did you see the new prices for the Elizabeth Monroe First Spouse Coins? $619.95 for the Proof, and $599.95 for the Unc. Up another $90 since the Dolley Madison's. I have a feeling this will drive even more people out of collecting the First Spouse series.
I am afraid to see what the 2008 American Gold and Platinum Eagles will go for. Scary. Plus, the 2008 W Silver Eagle, when it is released, and the Gold Proof Buffaloes. Perhaps people will not want the new mint issues, and will go more for the older coins.
I have been collecting the First Spouse coins but I may have to rethink that plan in light of the new prices. Completing the set was daunting enough at a little over $400 per coin. Do I not buy at $600 and hope gold prices drop and buy then? But then the price of the coins may be driven by rarity rather than by gold content. What to do? What to do? I guess I have a week to decide before Liz Monroe goes on sale.
I know people who were buying 5 or 10 of each gold spouse coin, in unc and proof, and that really adds up now.
That's the key. (No pun intended). The later issues may turn out to be quite rare. At this point, the original 3 issues were good buys. Their melt value (as of today $472/coin) is greater than the original purchase price. I'm not sure what to do either. I'm just thinking about what else I could buy for what now amounts to about $4800/year for the set of 8 coins. In 10 years, will we have a $50,000 coffee-table book, 40 oz. of gold bullion or a highly desired collection of rarities worth much more?
The original prices already drove me away lol... I really wish they made these 1/4 oz. gold rather than 1/2 oz. I'm sticking to the bronze medal versions of the First Lady series, that I can reasonably afford at least.
some people just wait and buy them off ebay from people trying to flip or dump them. Maybe you could buy them below mint issue price that way. Then again, maybe not.
I wish they had made them as silver dollars. That would take away all the frenzy, speculation, and ultimately disappointment that have afflicted this series from the beginning. What's gotten lost in the whole thing is appreciation for the artistic and historical virtues of the series, which I think are really positive.
Did you get the Dolley? Mintage is like under 10,000 for the unc and 14,000 so far for the Proof and still old price. I'm getting tempted
The price might go up but the mintage will be 40,000 just like the rest. The mint will sell them until they are sold out whether that be in 2008, 2009 or 2010.
I did buy the Dolley coins (one each unc and proof). I was wondering how long the mint would sell them.
Are you sure about that? I suppose that could be true if the Mint has already struck the coins. But it is my understanding that the Mint cannot strike coins in a year other than that appearing on the coin. (Yes, I know it has been done in the past.)
This is only my belief, I do not know for sure. After seeing the sell out of the first three spouse coins, the US mint made all 40 thousand Madison coins. They would do this because 1) They would want to ship them ASAP (expecting another sellout) 2) It is more expensive to resetup the 'assembly line' I also do not believe they will melt the coins down as that will be expensive. Thus, my conclusion is they will sell them untill they are sold out. ALL 40,000 of them.
Typically with bullion items the mint will only strike a small number of coins and then wait and see how orders go. Rarely if ever do they strike the full mintage allotment precisely for the reason you mentioned - they don't want to have to melt the coins.
That actually would have been a good idea... it probably would have made the Mint more money than the gold ones too, since they could sell a whole lot more.
Here is an ironic story.... When the first spouse coins were first released, I scraped up enough money to purchase 2 of each coin... one for my set and one to trade for sets that I was not "lucky" enough to buy in time. Like most coins of limited production from the mint, there was always a race to how fast you could buy the coins before they sold out. Now I have these 4 coins, that nobody wants, let alone, nobody can afford.... and nobody is buying the newest coins. My point being.... I bought the coins thinking that every first spouse coin will sell out and if I missed one, I could trade one of the ones I have for one that I missed. Sounds like buying future first spouse coins will not be a problem and I will always be one of the "lucky" ones! :headbang: Like Dreamer said, I can only hope that these will be rarities later on and become high in demand. On a side note, I bit the bullet and bought both the Monroe coins, but can't see how I can continue at these prices. What a disappointment because I really think these coins are beautiful and will make a great set to pass onto my kids.....
