22 February 2008 - 9:51US Mint Raises Prices for Elizabeth Monroe Coins
The US Mint has just released the new pricing for the upcoming Elizabeth Monroe First Spouse Gold Coins. These coins will first be available from the Mint on February 28, 2008.
The price for the proof version of the coin will be $619.95. The price for the uncirculated version of the coin will be $599.95.
This represents a significant increase over prior coins in the series. The most recent Dolley Madison coin was offered at $529.95 and $509.95 for proof and uncirculated coins, respectively. The previous Martha Washington, Abigail Adams, and Thomas Jefferson’s Liberty coins were offered at $429.95 and $410.95 for proof and uncirculated coins, respectively.
The main culprit for the increasing price is the cost of gold. Each coin contains one-half ounce of gold and since the series inception, the price of gold has substantially risen.
Many are predicting that these higher prices will be a drag on the series. This may be true in the short term, but since the series will run for about 10 years, who knows what will happen in the interim.
1 Comment | Tags: Elizabeth Monroe, Pricing
02 Mar 2008 - 16:06
It appears that in part the whole reason for making the Lizzy Monroe coins so pricey was to spur sales of the Madison coins. And now with gold at 974 (487 per half ounce), the Mint has suddenly halted sales of the uncirculated Dolley. I suspect that his will be a very pricey coin in the future, as the final count for production will be much lower than comparable coins in the first 3 spouses.