WARNING: First Spouse collectors

They were offered this morning for a few hours. This after about a month of being off the market.

 

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Unless you consder the second part of my statement.

 

Ok, lets say that they have an extra 5k of these hanging around. That doubles the mintage of many of these coins.

 

I still think you're living in a dream world if you believe that, but if that's what you think you should definitely wait until the big fire sale whenever the Mint decides to unload them in the next few years. Of course, with the way gold has gone up, they will still probably cost you more then than they do now just based on the spot price.

 

It is simply a fact. The spokes-person at the service number clearly told me that they have these in the warehouse. They are not making these as they go.

Also they were offering these for sale this morning. If you think that is not true just try to access this page from the mint site (you could this morning, and they were for sale).
http://catalog.usmint.gov/webapp/wc...ctId=14602&langId=-1&parent_category_rn=41505

 

Yes, it's a fact they sold a few more today after they were off sale for a couple of weeks. And yes, it's a fact that there are at least a few in the warehouse somewhere.

But it is not a fact and it's quite a stretch to think there may be 5000 in the warehouse that they may sell a few years from now.

 

Not a fact but somewhere between a possibility and a probability.

 

My Father told me long ago, "Collect what inspires you and let history determine its worth". I like the Spouse series and want to collect the entire series. I have to admit I'm attracted to the low mintages, too.

The US Mint has always produced coins and released them years later...Morgan Dollars, for instance. That's fine as long as the mintage figures reflect the correct number of coins "produced" not just sold.

The Mint doesn't even have to produce the coins in the same year...1964 dated silver coins were minted well into 1966. They just need to provide an accurate accounting of the production figures.

Someone correct me here...but I "thought" the Mint was required by law to accurately account for all coins produced. If that's not correct, then I agree with danr's WARNING 100%. I collect US coins because of the accurate accounting.

As far as coins being "warehoused" or put back on sale after they were listed as "sold out", I really don't have a problem with that. Afterall, the US Mint is a manufacturing plant. Inventory control is always an issue. They probably make a run of 1000, warehouse them, then make another run once supplies run low.

I'm sure returned coins present unique problems for the Mint, as well. As long as these coins are accounted for...then no worries. If coins are produced, not sold, then later melted...the "melt" numbers should also be published.

That's my understanding, anyway. If I'm living in a "Fairy Tale Land", please clue me in. :secret:

 

We are worrying about nothing. The value of these coins will never drop below their worth in gold and as long as you recoup your initial investment, there will be no love lost. Don't buy these coins as investments, buy them because you like the coins and like Illini said, it will be a win win.

 

I really want to collect this entire series but everytime gold prices rise like they have this week, I get really really tempted to sell off my entire collection of First Spouse coins (26 coins so far). I just think of all of the other coins I can buy with that money and it gets very very tempting!! But I do like these coins, just don't know if I'll be able to hold back that temptation to sell and buy a really nice 1955 doubled die or a gem 1909-S Indian Cent or a decent 1909-O Half Eagle... this coin collecting stuff is just so frustrating!!!

 

In any case it is wise to figure the possibility of a re-release of low mintage spouse coins into the calculus of you decision.

 

I would assume the mintage figures out there are for coins minted not coins sold. If that is the case they could empty the warehouse and still not change the mintage figures. Someone correct me if I'm wrong.

 

Based on the 2009 Nickels and Dimes (we're not making anymore) the Mint will lie through their teeth to suit their needs. I don't think they can be trusted.

 

This link may clarify the issue...

http://www4.law.cornell.edu/uscode/uscode31/usc_sec_31_00005112----000-.html

Ref: U.S. Code 31; Section 5112; Subsection O-5A

This suggests that the US Code prohibits issuance of any Spouse coin outside the period of issuance of the corresponding President coin. I'm not saying I'm right...it's just my interpretation. :thumb: