22 May 2008 - 9:232007 & 2008 First Spouse Gold Mintages
The First Spouse Gold Coin series launched in 2007 with much fanfare. The first two coins released sold out within the first day of sales at the US Mint. This built up anticipation for the third coin of the series, which also sold out on the first day. However, by the fourth coin of the series, enthusiasm had clearly diminished.
This post will take a look at the mintage figures (or sales figures to date) for the all of the coins released so far in the First Spouse Gold Coin series.
The table below is accurate as of May 22, 2008. The figures come from those reported by Numismaster.
2007 & 2008 First Spouse Gold Mintages
| Unc | Proof | |
|---|---|---|
| 2007 Martha Washington | 20,000 | 20,000 |
| 2007 Abigail Adams | 20,000 | 20,000 |
| 2007 Thomas Jefferson | 20,000 | 20,000 |
| 2007 Dolley Madison | 11,160 | 17,513 |
| 2008 Elizabeth Monroe | 3,910 | 6,666 |
There were numerous factors that have caused the decline in popularity of the series. I think that the primary reason is the increase in prices. When the coins were first offered fro sale, they were priced at $410.95 and $429.95 for uncirculated and proof coins respectively. The price for the latest release was $599.95 and $619.95, an increase of nearly $200.
Further exacerbating the increasing price was a recent sharp decrease in the price of gold. Even though the price of gold dropped by almost $200 per ounce the Mint did not readjust prices to lower levels. This definitely had a negative impact on sales.
Other reasons for the declining sales statistics may include: the tendency for a series to lose interest as it moves on, the appearance of other popular series such as the Bald Eagle Commemorative, and the diminishing premiums paid for the prior sold out First Spouse Gold Coins.
At the end of the day, the decreased mintages may actually present an opportunity. Everyone will recall one of the modern rarities is the 1997-W Jackie Robinson Gold Coin. This coin had a mintage of only 5,174 and is considered quite scarce today. Something to keep in mind as we watch the First Spouse Gold Series continue.
07 Jun 2008 - 10:53
At what point after release, if ever, will the mint destroy unsold first spouse coins?
If all 20,000 were not minted, then at what point do they decide to never mint those coins again?
That would make the Madison and Monroe coins very exciting.
09 Jun 2008 - 13:04
I can’t seem to find a definitive answer to this even after checking some info at the Mint and the enabling legislation.
Judging solely based on other similar US Mint products- I would think that during the calendar year of issuance, the Mint has numerous production runs throughout the year, minted in advance of anticipated demand for the coins. (i.e. they don’t mint the entire maximum authorized mintage immediately)
Once the year is over, they stop minting additional coins and sell off the remaining inventory. Once the final batch is gone, that would be it.
Again, just an educated guess. If anyone else has a more definitive answer, please post.
11 Jun 2008 - 20:32
I had the question as Joseph. I have searched the US MInt site and other sites, and I can’t find any answer either. Perhaps the Mint wants to keep everybody guessing. I guess it does make the sport of collceting the First Ladies a little interesting.
18 Jun 2008 - 10:27
I would think the US Mint would choose to cut off at least the Dolley Madison sales, if anything to increase excitement and help initial sales of the next set. The upcoming liberties may have better sales and keep the madison, monroe and adams around longer.
18 Jun 2008 - 13:49
It’s all very strange in that it’s easy to find mintage #’s on the US Mint web site for American Buffalos and all of the American Eagles in every metal and demomination sold.