First Spouse gold...Are they Bullion or Collectibles??

I'm just curious about what you think about the coins vs the proofs. If I read correctly the difference for the 1st spouse is $15, why would you then buy the coin and not the proof if you are going to collect?

 

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I've been buying one of each uncirculated and one of each proof, all to collect

Actually, my lotto group at work is convinced we're going to win the $252 million sorry yakpoo

 

If you have to make a choice get the unc.

 

At this rate, the growth of these coins are out performing my stocks! :headbang:

 

I think that is also irrelevant to the decision about whether to purchase the coins or not under present conditions. It is what it is.

 

I just checked my $30 of Megamillion tickets...I won $2 ...talk about a lousy premium! I hope you do better.

I "basically" buy one each (Unc & Proof). I started buying Spouse coins after the Monroe closed out...so I had to catch up on ebay. I was happy to get the Unc Monroe for $679.

I doubled up on the Liberty Proofs and Uncs...and the Louisa Adams Proof & Unc...when it looked like it would be the new "Key Date". I'll probably do the same when a new key date gets near closing. I suspect I'm not the only one doing that.

One possible scenario might be that this series becomes more popular due to the low mintages and the mintages start going back up again. 2009 may be the ideal time to buy from the mint. In this scenario, the premium we pay now may be insignificant down the road.

In support of danr's point...

I needed the Proof Abigail Adams coin and saw five (5) from the same seller ending about the same time. I bid $500 each, never expecting to get any of them for that. I ended up winning four (4) of the auctions; $470-$490 each.

 

I just checked my work lotto group's tickets ($70 worth) and we also won a big $2 Good news is that nobody won it so we'll have a chance at $325 million Friday... maybe I'll just buy up the entire mintage of the Polk spouse coin after we win

 

And then give them away as Christmas gifts to all your good friends here on CT.....or at least the ones who collect the FS coins anyway! :thumb:

 

yes. they were collectible. but to complete a series is quite expensive. anyway. i just keep collecting the spouse four liberties. now i am only missing the 2010 one.

 

That will become a bigger problem over time. I don't think that many collectors collect entire series of gold coins. They only buy for type sets, or to obtain individual high quality examples, or as a bullion substitute. And if a collector trys to sell a long set of gold coins, there will be very few buyers. So no matter how low the individual mintages are, I don't think the entire set will become a popular collection with a high numismatic premium.

 

I think everything you've said is quite accurate. Many of the issues will be held in smaller groups by a variety of collectors/investors. That will make owning the entire collection (proofs & uncs) that much more special. Worst case scenario, I don't see prices dropping much below the issue prices. Best case scenario...who knows?

The great thing about this series is that the Mint has to make them; it's mandated by Congress. There are certain fixed costs associated with producing coins. As bullion prices rise (and I suspect they will), sales will "most likely" continue to decline (especially as collectors get "burned out" on the series). This should put an upward pressure on premiums and further downward pressure on sales (mintages).

Granted, that's all a guess on my part, but I still want to be one of the few people that has the complete set seven (7) years from now. I'll probably take the entire series, lock it away in a 100 year time capsule, and let my decendants fight over it. :hatch: The name "Yakpoo" shall be spoken reverently well into the 22nd century!

 

..on the other hand those very considerations could continue to drive down mintages.

 

Ultimately, values will be determined by not only the low mintages but also by the demand. Demand will be a huge part of the equation. If nothing else, we will still have the gold value in the coins what ever it shall be. I don't suspect to see these coins for selling less than the value of gold and any given time and like Illini said, show me the way and I will gladly pay the price.

 

Here we go!!! All the Spouse coins are showing these messages...and I don't think the prices are coming down. Higher prices = Lower mintages :hail:


2008 First Spouse Series One-Half Ounce Gold Proof Coin Van Buren’s Liberty (X23) More Info.
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2008 First Spouse Series One-Half Ounce Gold Uncirculated Coin Van Buren’s Liberty (X24) More Info.
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I could never melt! thats way we lost so many silver and gold coins. If you melt them they will be gone. So I say collect them and buy bullion.
Bob

 

Here's a nice price guide if someone hasn't already seen it...

http://www.firstspousecoins.us/price-guide/

 

Although the mint has been very reasonable all year about the pricing of their gold and platinum coins, they jumped the gun by one day here. Not that I was going to buy anything, but they broke their own rule and possibly screwed someone who was going to buy today.

 

Me...for instance. :crying: I bought another proof & unc Van Buren today, anyway...I love the design. With five (5) coins out there, who knows if they might close out the Van Buren early to spur sales for the others. After the Jackson debacle, I don't want to take any chances. Besides, the prices may go up again in a week or two.

 

Great thread. Interesting debate.

 

I think many many people, especially the ones who will go running after those silly ATB silver bullion coins or Boy Scout coins, underestimated the potential of the FS gold coins. There have been many FS coin collectors who have been laughing at such notions, all the way to the bank.