SilverTowne Melts Thousands of Gold First Spouse & Commems

could be a perfect storm for collectors though. As gold goes up more and more of these will go into the melting pot and the mintages will get smaller and smaller. We could end up with only a few thousand surviving examples of each of these.:smile

 

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Even if there are just a few remaining coins, imagine in 2020 some new collector comes along and wants a complete set of this series... 20+ ounces of gold at melt value, plus a premuim! (Today is ~$20,000+) Highly unlikely anyone would start something like that! Even today for a few hundred dollars I can assemble most complete old circulation sets... I doubt these will ever have a very high demand and just remain undercollected... I agree with everyone above... 1/2 oz. gold is just way too much for a planned 40 coin set, especially for coins having no circulation counterpart!

 

Congress out of touch ?

What is the most important job of any elected official ? Getting reelected ! The economy always has to look good even though the once uniformed know where to look for four or five signs that point to a recession.
As with most countries the mint system is a pain to handle but a necessity to crank out coin.
When it comes to gold and silver, no one knows what remains from the original mintage of any thing for the most part. The markets through auction, show what is rare and what they will bring ( Not what they are worth ).

 

That's nice if you're one of the few that can actually afford one lol... but if you can't afford it, it doesn't matter if the mintage is 2 or 2 billion. Like someone on ths board said once, "A mintage of 2 is still too high if only one person wants one." Same if only one person can afford one.

Speaking for myself personally if these never drop in value to the point I can realistically afford any, as far as I'm concerned, they may as well not exist. I may as well dream about the future value of 1804 silver dollars for as good as their value fluctuations will ever do me.

 

Do not forget there is a Bronze Metal version of these..... they are quite nice and very affordable. I collect these.

 

forgive me if someone already said this, but the thing that strikes me as odd is why would you melt a .9999 gold coin??? Wouldn't the assayer just put it off to the side? No real sense in melting it, is there?

 

unless of course you need the gold to make somethign else that will give you a highe rprofit and it will also get you a chance to get out if your locked capita in the gold

 

melting it

since they need gold to process other gold products. and they have their own melting factory. instead of ordering gold from other company. they just use what they have and can not be sold to melt it down.

 

I find it almost hilarious how that so many people bad-mouth the first spouse gold coins. They are still the fastest sellout coins in the US Mint's history, and probably will be for quite some time. And we also tend to forget that they just started releasing them for sale last June of 2007.

They are still beautiful coins, and 24kt (.9999 fine) gold, and will always have a high worth. Personally if people want to melt them, that is their decision, but for the remaining coins that survive, they will be worth a lot some day.

 

wesley, I don't know that I can agree. They may be indeed rare someday, but they have to be sought after in order to be valuable. 3- cent nickel pieces anyone??? These will likely not be worth more than buillion in our lifetimes, and maybe not even in our children's.

 

They might be the fastest selling coin of all time, but it was simply the speculators... there can be no better proof to this fact that once these coins started to sell at pretty much melt value, the 4th issue has yet to sell out almost 4 months after its release date while the 1st coin sold out in about 4 hours... Remove the speculators/flippers and keep only those interested in collecting the set (at whatever release price), and you have a very few people left...
They are pretty I admit, and if you buy them for your interest, thats wonderful! But commanding a premium price... probably some day, but not in the next few decades... Maybe it will be like the half dollar commems back in the 1930s...the huge glut meant that noone really wanted them then... but as time went on, it all changed..

 

I appreciate your comments, I really do. I guess I look at it like this.....The first three spouse coins are going for well over issue price, and even if they only go for melt value, when gold is well over $1000/oz and approaching $2000/oz, I'll be just fine with that. Plus, if so many are being melted, the few remaining will be worth something. Remember nobody wanted the Sacagawea's for years, nobody really wanted the Gold Proof Buffalo's for a while, and "nobody" seems to want the Presidential dollar coins. I like the coins that aren't as popular, as it increases their rarity.

 

We'll see when most people finally wake up and realise the economy has tanked, how these things sell. Have a feeling they could all become stockroom queens.

 

Myself, I cannot afford the First Spouse Gold Coins, but that is not the mints fault.....it is the state of our economy & the price of bullion.

I am however saving all my "pennies, nickels, dimes, & quarters" in anticipation of the Jacqueline Kennedy release. Won't that be a hot/high demand release.

Where does it stand on a Nancy, Barbara, & Hillary coin? I haven't really checked the legislation on when/if they will be produced.

Do we get a Bill coin down the line if Hillary wins?? Wouldn't that be cool!!


Only in America...God Bless.


CHEERS

 

I remember reading somewhere that the first spouses must be dead before they are honored on the coin. There may even be a time limit as to how long they have to be dead before being recongnized on the coin as well (not sure about that one though).

Chances are both Nancy and Barbara may be dead by time the series is nearing the end and may be added to the series. Unfortunately, the series may end before we see a Hillary coin.

God help us all if the day comes where we see a Bill coin!

 

You are correct. You cannot be honored on a coin and still be alive. So by the time the series is in it's 10th year or so, there may not be any more spouses to put on coins that have passed away. I think I read that they will still make first spouse coins for them, even many years later, after they have passed away. Same way with the presidential dollars.

Unfortunately we will see a Bill coin, for being president. Who knows about him being first spouse too? Personally, I do not want to see that happen.

 

How fine will you be if gold is at $400 an ounce? You are aware that gold can go down just as quickly as it went up?

Rarity doesn't equal demand. I own multiple coins with original mintages under 10. I'll trade any one of them for any First Spouse coin. Any takers?

 

It's really very simple. The First Spouse coins, as well as the Presidential dollars, will be minted in the order the Presidents held office. Four coins will be released each year. Both series will stop when a President has not been dead for at least 2 years when the time for his dollar coin comes up.

If Jimmy Carter dies before mid-August 2014 he and Rosalynn AND Ronald and Nancy Reagan will get coins in 2016. (If Jimmy Carter lives past mid-August 2014 the programs will end with Gerald and Betty Ford.) Likewise, if Jimmy Carter meets the 2-year requirement George Bush (Sr.) and Barbara Bush will get coins in early 2017 if Bush Sr. dies at least 2 years prior to the scheduled release of his coin.

 

Jimmy Carter and George Bush Sr. have a say as to whether Bill Clinton will get a Presidential Dollar. If either of them does not die 2 years before the scheduled release of their coin the series will stop at either Ford or Reagan.

 

Yes you can. Eunice Shriver is still (technically) living and she is on a coin. Some of the early commemoratives featured living people.

You must be dead to be on a stamp, but not a coin. However, Congress may have included the "must be dead" language in the authorization of these coins.