Coin Blog

The US Mint just released the 2010 Jane Pierce First Spouse Coins, which honor the wife of President Franklin Pierce, the 14th President of the United States. This is the fifteenth release in the broader series since one preceding President had a first and second wife.

The First Spouse Gold Coin series hasn't really resonated with collectors. Some have attributed this to the subject matter, others to the high price tag. The latest coins to go on sale cost $779 for proof versions and $766 for uncirculated versions. The initial releases of the series were actualy priced at $429.95 and $410.95, but the rising cost of gold has caused pricing to be adjusted.

While it will take a strong stomach or wallet to see the series through to the end, it might pay off in the long run. After 2007, sales for First Spouse coins declined substantially, resulting in extremely low mintage levels. Historically, unpopular coins with low mintages have eventually found an audience and price appreciation after the low mintages added a new allure. Will this series prove the same, or provide the first exception?

Tomorrow the United States Mint will release the latest issue of the First Spouse Gold Coin series. The coin will honor the spouse of President Millard Fillmore, Abigail Fillmore. She served as the First Lady from 1850 to 1853.

The obverse of the coin features Abigail Fillmore's portrait, the order of the Presidency, and years served as First Lady. The reverse features an image of her shelving books in the White House Library that she founded. As with other coins of the series, each is struck in one-half ounce of 24 karat gold.

As a change from prior releases, the US Mint has set a maximum authorized mintage of just 15,000 across both proof and uncirculated versions. There will be no household ordering limit in place for the start of sales on March 18, 2010. All previous releases of the series had maximum authorized mintages set at 40,000.

Even though the recent releases of the series have not reached sales of 15,000, I think the lower maximum mintage might inspire higher sales and possibly set up a situation for a sell out.

The issues which have most recently concluded sales (the 2008 releases) have sold around 11,000 to 12,000 coins. By setting the maximum just above this level, the perception of collectors might change. Before a sell out was barely considered, now it becomes a distinct possibility. This might add a new spark to the four year old series.

The United States Mint has released the designs for the upcoming 2010 First Spouse Gold Coins. These issues will cover the 13th, 14th, 15th, and 16th Presidencies of the United States. The coins will feature three First Ladies and one of the "Liberty" designs issued for James Buchanan who did not marry.

The three spouse coins feature a portrait of the First Lady on the obverse paired with a reverse design featuring a scene or image emblematic of their lives or work.

Abigail Fillmore First Spouse Coin
13th Presidency
1850-1853

The Abigail Fillmore gold coin reverse features an image of her shelving books in the White House Library. She had purchased the first volumes for the White House collection with an appropriation received from Congress. Designer of the obverse was Phebe Hemphill with the reverse by Susan Gamble.

Jane Pierce First Spouse Coin
14th Presidency
1853-1857

The Jane Pierce First Spouse Gold Coin features an image of the First Lady watching Senate debates within the US Capitol Building. She is known to have sat to listen to the heated debates on the topic of slavery. The obverse and reverse designs are by Donna Weaver.

James Buchanan's Liberty Gold Coin
15th Presidency
1857-1861

The James Buchanan's Liberty coin features the image of Liberty used for the Liberty Head $2.50 Gold Quarter Eagle, originally designed by Christian Gobrecht. This represents the fourth coin in the Liberty sub set of coins, issued for Presidents who served without a spouse. The reverse features a young James Buchanan working as a bookkeeper in the family store. This was designed by David Westwood.

Mary Todd Lincoln First Spouse Coin
16th Presidency
1861-1865

The final First Spouse release for the year 2010 will feature Mary Todd Lincoln. This is expected to be a popular issue, as she was the wife of President Abraham Lincoln, a figure popular in history and numismatics. The reverse depicts the First Lady visiting some wounded Union soldiers bringing flowers and books. This was designed by Joel Iskowitz. The obverse was designed by Phebe Hemphill.

The final release of the First Spouse Gold Coin series came last week, when the US Mint released the coin honoring Margaret Taylor. The one half ounce 24 karat gold coins were released on December 3, 2009.

Margaret Taylor was the wife of the 12th President Zachary Taylor. For 30 years, she followed her husband during his military career, even going to hardship outposts and living in tents, cabins, and forts.

The obverse of the Margaret Taylor First Spouse Coin features her portrait, the order of the Presidency, and the years she was First Spouse. The reverse of the coin depicts the First Lady in her younger years as she nursed wounded soldiers returning from the battlefield during the Seminole War.

The coins carried the high issue price of $654 for proof coins and $641 for uncirculated coins due to the higher price of gold. Recent coins in the series have sold only 11,000-12,000 coins across both options. Some collectors believe the low mintages will eventually translate into higher values.

The fourth First Spouse Gold Coin of the year went on sale yesterday. This year there will be a total of five different coin designs released, so another one is coming in the winter months. This release was the Sarah Polk First Spouse Gold Coin.

Sarah Polk devoted much of her marriage to furthering the political career of her husband, James K. Polk. After he was elected President, she served as his personal secretary, the only First Lady to take on this capacity. The reverse of the coin depicts her working with her husband in the White House.

The coins are minted in 24 karat gold and contain one-half ounce of gold. They are minted in uncirculated and proof version at the West Point Mint. The coins were priced at $654 for the proof coin and $641 for the uncirculated coin. This was an increase over the recent prices for the coins due to the higher market price of gold.

Mintage for the recent First Spouse coins have been dwindling, which might make this series more interesting in the long run.