First Spouse legislation, Lincoln Cent changes

Here is the legislation for these coins:

First-Spouse Bullion Coin. Public Law 104-52, which established the U.S. Mint Public Enterprise Fund, requires the Mint to transfer any excess funds to the general fund of the Treasury at least annually. Based on information from the Mint and the numismatic community, CBO expects that the First-Spouse gold bullion coin would generate sales similar to recent commemorative coins. In addition, the Mint could sell bronze duplicates to the public; however, based on the sales of previous duplicates, we do not expect that those sales would be large. CBO estimates that the Mint would produce about 10,000 gold coins per design annually generating about $1 million a year in excess funds that would be recorded in the budget as offsetting receipts.

Abraham Lincoln Bicentennial 1 Cent Coins. S. 1047 would direct the U.S. Mint to change the design of the current 1 cent coin beginning in calendar year 2009 to celebrate the 200th anniversary of the birth of Abraham Lincoln. Four pennies would be issued to reflect the four major periods in Lincoln's life. The legislation also would require the Mint to produce a new copper penny in 2009 with the same metallic content as the 1909 penny (Lincoln cent) in amounts appropriate for the numismatic community.


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Interesting they want to limit the first spouse coins to 10,000. I hope they do limit them to that amount or even less, not sure many can afford the entire collection. I think if they have high mintage to start the series then it will drop off in mintages later as people can't afford the rest.

 

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That's interesting about the new pennies. I was just wondering today if there would be something done to the penny similar to the westward journey nickels in 2009. However, it will be hard to get much of a design on that little coin. I guess they will probably start with a log cabin for the first one, followed, by lawyer, something with civil war, and who knows for the last one.

I wish they would do a silver coin for the first ladies. I really can't afford to dump $10,000 on gold coins when I should be dumping that kind of money into my 401(k) over that ten year period! Unless I was sure they would increase in value the same way ten grand in my 401(k) would! I'm sure there's a lot of other collectors who would like to have the companion pieces to the presidential coins, but can't justify the outlay.

 

I'm just going to get the bronze versions.

 

Any update on what is going to happen with the penny in 2009? Thanks. davdo.

 

I'm sure that dealers like Coin Vault will buy all of the 10,000 if we do not

 

Think I read somewhere that their will be like 30 different gold coins available this year when one combines the Buffalo's, eagles, spouses and the commemoratives. Way more than last year.

 

Put the emphasis on "would direct", "would require", etc. Unlike a Public Law which has been enacted by the House and Senate and signed by the Preisent, a Senate Bill is not a law, and may or may not become one depending on future action of the House, Senate and President. If it does become law, it may or may not be in the form presently being considered.

 

S 1047

Bill Status
May 17, 2005 ☑ Introduced
Jul 29, 2005 ☑ Scheduled for Debate
Nov 18, 2005 ☑ Passed Senate
Dec 13, 2005 ☑ Passed House
Dec 22, 2005 ☑ Signed by President
Final Status: Enacted
This bill became law.

 

ND.
Will the spouse coins have the letters on the edge same as the GW Dollar ?

Bruce.

 

The law dosen't call for edge lettering but it dosen't forbid it either.

`(3) DESIGN REQUIREMENTS-

`(A) COIN OBVERSE- The design on the obverse of each coin issued under this subsection shall contain--

`(i) the name and likeness of a person who was a spouse of a President during the President's period of service;

`(ii) an inscription of the years during which such person was the spouse of a President during the President's period of service; and

`(iii) a number indicating the order of the period of service in which such President served.

`(B) COIN REVERSE- The design on the reverse of each coin issued under this subsection shall bear--

`(i) images emblematic of the life and work of the First Spouse whose image is borne on the obverse; and

`(ii) the inscription `United States of America'.

`(C) DESIGNATED DENOMINATION- Each coin issued under this subsection shall bear, on the reverse, an inscription of the nominal denomination of the coin which shall be `$10'.
.

`(F) INSCRIPTIONS- Each bullion coin issued under this subsection shall bear the inscription of the year of minting or issuance of the coin and such other inscriptions as the Secretary may determine to be appropriate.

 

Section (F) will cover "E Pluribus Unum", "Liberty", and "In God We Trust". :thumb:

 

Never mind, I totally missed something which made my original post invalid.

 

You are always right my man thanks.

Bruce.

 

Why call the companion issue to the Presidential Dollars the 'First Spouse' issue? There hasn't yet been a woman elected as President,so it should really be called the 'First Ladies' issue.

Does anyone else agree with me on this?

Aidan.

 

Doug.
It seems as though everything in our country now has to be politically correct.

 

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Political comments may only be made in the Politics, Religion and World Events opt-in forum.

 

If Hilary Clinton were to be elected, and Bill ended up on the gold coin, then the series would indeed be first spouse coins.