Question for First Spouse Collectors

This is a message for first spouse collectors who do not have slabbed coins.

I noticed that the mint has offered 4 coin proof and UNC boxes for each year the coins come out. Is anybody getting these? Are they worth it?

I bought a set for last years coins, and they look great, but the one thing that I don't like is the fact that they don't have a single COA for the set. Minor - yes - but I'm crazy like that. I called the mint to suggest this and they said they didn't think it would happen. I haven't gotten rid of my single boxes yet and don't know if I should. Any comments would be great.

 

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There are no first spouse collectors...

 

I take exception to that statement and would like to know what facts you have to back it up. I personally am not collecting the entire series, but am in fact COLLECTING certain ones.

In response to the original post, I do not personally intend to buy any additional packaging from the mint to house whatever first spouse coins I purchase. I will say, however, that I always like to see the original C.O.A. for any mint product, if it was intended to be included with the coin, or set or whatever. If I was to purchase a box to contain all the coins for display purposes, I would also save all the original packaging.

 

I'm planning on collecting the set of uncirculated coins for the lower cost. This is not much
individually but over the set accounts for quite a few $.

 

I've got 2 UNC and 2 Proof Jeff Liberty coins. I still haven't taken them out of their original mailing boxes as they were shipped on the first & second day. I've only seen these gov't boxes on ebay and in my dreams. If I decide to keep them I would have them graded by a top TPG since they are not increasing in value due to collectors interest but by the increase in the price of gold. The MS 70s and Proof 70s are getting a much higher sell price than ungraded coins. I do believe that in years to come they will appreciate dramatically as a low mintage coin usually does and because of the thousands that have already been melted.

Bruce

 

Most gold , platinum and silver coins now are only worth melt, or a little over. The rise in precious metal price is what is driving up their price. Only the very highest condition coins are selling for much over melt. I personally do not care for third party grading companies grading my coins, as they are too subjective, and not consistent over time.

 

Funny! :mouth:

I know I'm not the only one collecting these. I like these coins...

 

You are not the only one. I am too collecting them because I like them. But, the higher prices is discouraging.

 

I hear ya brother! :hail:

 

You can find them for UNDER melt on Ebay if you are patient. I love it, these are being melted by the thousands and long term that is a very good thing for guys like us.

 

hya:

In the end though, how will know how many were melted and how many were saved? Is there any type of data than can predict this?

 

It's true.

 

In time, these coins are most likely to sold like this

http://www.apmex.com/Product/14078/Gold_US_Mint_Commemorative_500_Coins_Years_of_our_Choice.aspx
http://www.apmex.com/Product/9580/Gold_US_Mint_Commemorative_1000_Coins_1984_US_Olympic.aspx

Where they will be sold by weight and type, not by the spouse that is on them.

There may be a few exceptions for the particularly popular spouses, especially in the later years where there are plenty still alive who remember the spouse like kennedy's and reagan's spouses.

Don't get me wrong, I have bought several of these coins, I just have no delusions about how the scarcity will drive the price too much.

 

I collect the bronze medals at least lol...

 

Sales numbers for the Monroe First Spouse coin are out and so far the UNC has sold more than the Proof.

UNC 4837
Proof 2931

This is surprising as the Madison is selling at 60% more Proof than UNC. I think this may show gold prices are hitting a level where proof sales will fall off perhaps and buyers are opting to continue the series in UNC unless the price of gold falls. I can't imagine bullion buyers are going for this coin as it is priced well over spot.

 

Unless you are buying the Madison Proof's, they are not much over melt now. I think the mint may stop selling them, either for good, or to re-price them.

Plus, of course, now you can buy 10 of each of the Madison's and the Monroe's, instead of the one they limited you to for the first couple of weeks of sales.

 

My comments are really directed at collectors of the series, as a collector of the series would be purchasing one coin from each spouse. So a collector of the series would have to purchase a Monroe at some point. It may be some are waiting for gold to drop or will try to purchase in the aftermarket at bullion levels, either wouldn't surprise me. The prices of these coins as you say though are very high so what it shows to me is less people may be collecting this series than was hoped for.

 

I am a collector of this series, and it does not bother me one bit if there are less people than expected collecting the First Spouse coins. Nor, if they do not sell out.

Good luck, even if the price of gold drops in seeing the mint lower the price of them. When is the last time the mint lowered the price of an item?

They will be available on the secondary market of course, but at what price? Especially if gold continues to go up?

 

you forget me

 

Hi, I didn't mean to say you weren't a collector of the series only that I was talking about the collector base as a whole [sorry - not directed at you personally]. The collector base as a whole appears to be dropping and that might mean lower sales and possibly lower mintages. I say that because last night I saw them already hawking the Monroe on HSN so all of these sales are not purchased by collectors but also dealers. The real collector base must be even smaller than this, but this is only the first week.