Why anyone would buy Louisa Adams Gold for $600 is beyond me
Goldbully
Posts: 18,069 ✭✭✭✭✭
I saw several auctions tonight for PCGS graded MS69FS Jefferson Liberty's and Martha Washington's that sold for $450 del'd.
Other than collectors looking to complete their sets of First Spouse Gold, what would be the incentive here????
These Adams coins could be the lowest mintage yet......that's the best thing.
Ok, FLBuff, where am I wrong????
Other than collectors looking to complete their sets of First Spouse Gold, what would be the incentive here????
These Adams coins could be the lowest mintage yet......that's the best thing.
Ok, FLBuff, where am I wrong????
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Just wait until we get to the prez's who had two first spouses (I think Tyler is the first next year). Those I think will be the lowest sellers given that there will presumably be two coins released the same day.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
<< <i>So do you only buy a coin if there's an incentive beyond the entertainment and enjoyment of the hobby? >>
First of all, the design is actually pretty nice....but not enough to persuade me to buy.
And, I believe the raw coin is grossly overpriced in comparison to the PCGS graded Martha and Jeff Liberty.
I will spend $600 for the next two liberty First Spouses, as I will enjoy the coin and be entertained to boot!!
JMHO
<< <i>So do you only buy a coin if there's an incentive beyond the entertainment and enjoyment of the hobby? >>
oh shucks, you have to admit discussing what gets coin collectors
into a mish mash and what affects the run up in price makes for good
bboard chatting.
It is part of the hobby after all... pricing for coins.. because we do pay
good money for them on occasion ;-)
<< <i>Why anyone would buy Louisa Adams Gold for $600 is beyond me >>
People actually buy gold plated State Quarter Sets, Hand Painted Silver Eagles, Kennedys with Elvis painted on them, and all sorts of other trash. Is it so hard to imagine that someone might actually want genuine Gold Bullion from the US Mint?
Hey did you hear the one about a 1933 bullion piece selling for a cool $7 mill ? And then 10 more showed up?
It takes all kinds.
PS - I wouldn't touch one of these bullion pieces but I can see how someone might. I think in the future these will sell like Franklin Mint stuff - which isn't good for maximum return on your speculative dollar. One final thought, how long will the Mint continue to offer these after their introduction? Will they challenge the 2001 Kennedy Halves - which are STILL on sale?
The only incentive I have for buying any coin is for either the enjoyment that the coin brings me and at times completion of a set may be part of that enjoyment. Buying a coin or coins for any other reason is to be an investor or speculator, which aside from bullion values, these people are dependent on the existance of collectors for any possible financial returns.
you could find some articles with a search, although i dont think that has anything to do with it.
Mintages should be low for the next few coins, and people really don't have money to buy gold.
On the other hand silver is cheap when compared to gold.
China agreed to a increase in iron prices, and yesterday agreed to a increase of steel prices, again they agreed to higher prices of oil, copper, and nickel. Its going to get ugly for anyone short silver... IMO
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
.
I intend to collect the whole set, Unc and Proof. I think it will be quite an accomplishment if I am able to finish it.
http://ProofCollection.Net
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
``https://ebay.us/m/KxolR5
<< <i>DO we know if there will be a limit on these out of the gate? >>
Yes, one and one for the first week..........................
This one-half ounce, proof coin features First Spouse Louisa Adams in 24-Karat Gold. This is the sixth coin in the First Spouse Series and the second of 2008. The coin is limited to 40,000 units, which will be divided between proof and uncirculated based on customer demand.
The obverse of this coin, designed by Artistic Infusion Program Master Designer Susan Gamble, and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill, is inspired by a portrait of Louisa Adams circa 1816. The reverse, designed and sculpted by United States Mint Sculptor-Engraver Joseph Menna, depicts Louisa Adams with her young son Charles on an arduous journey across much of Europe to join her husband in Paris.
First Spouse Gold Proof Coins are available in limited mintages. Each First Spouse One-Half Ounce Gold Proof Coin is encapsulated and packaged in a custom-designed, highly polished, plush-lined presentation case and accompanied by a Certificate of Authenticity signed by the Director of the United States Mint.
Four one-half ounce, $10 24-karat Gold First Spouse Coins will be minted and released annually in the order the spouses served in the White House. The coins are minted in proof and uncirculated condition and are available individually. Each First Spouse Gold Coin coincides with the release of the corresponding circulating Presidential $1 Coin. In 2008, the United States Mint will release the next four coins in the series which include Elizabeth Monroe, Louisa Adams, Andrew Jackson’s Liberty and Martin Van Buren’s Liberty.
A limit of one coin per product option per household is in effect for the first week of this product’s release. At the end of this period, the United States Mint will reevaluate this limit and either extend, adjust or remove it.
If paying by credit card, please be sure your credit card information remains current to avoid any delays in processing your order. If your credit card has expired by the time of shipment, your order will be cancelled. To update credit card information after an order has been placed, you must call 1-800-USA-MINT (872-6468).
To ensure that all members of the public have fair and equal access to United States Mint products, any order placed prior to the official on-sale date and time (May 29, 2008, 12:00 Noon ET) shall not be deemed accepted by the United States Mint and will not be honored.
Price: $619.95
This product will be available for sale on May 29, 2008 at 12:00 noon (ET).
Mint Link
<< <i>You need a Happy Meal, huh ? >>
"The coin is limited to 40,000 units, which will be divided between proof and uncirculated based on customer demand."
Or did they start this in 2008? I know last year it was 20,000 each for UNC and proof. Now they're conceivably saying
they could make 38,000 proofs and just 2,000 UNCS if that's what the market wants. Could have EVEN lower issues in
future, especially when we get to Leititia Tyler.
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
<< <i>Is this new?
"The coin is limited to 40,000 units, which will be divided between proof and uncirculated based on customer demand."
Or did they start this in 2008? I know last year it was 20,000 each for UNC and proof. Now they're conceivably saying
they could make 38,000 proofs and just 2,000 UNCS if that's what the market wants. Could have EVEN lower issues in
future, especially when we get to Leititia Tyler. >>
They've been saying that since the beginning, but as far as I can tell the mintages have always been split for the issues that sold out.
I am curious about sale for the prior to releases which have not sold out. Anyone have the numbers?
http://ProofCollection.Net
Unc =20K; Proof=20K
Abigail Adams
Unc=20K; Proof=20K
Thomas Jefferson Liberty
Unc=20K; Proof=20K
Dolley Madison
Unc=11,160; Proof=17,513
Elizabeth Monroe
Unc=3,910; Proof=6,666
**Per NN 5/22/08
Well, just Love coins, period.
<< <i>Yes, the mint says that orders will be limited to the total of 40,000 and mint versus proof will be determined by the orders received. >>
For what the mint is charging, they will sell only a small fraction of what they are authorized.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Yes, the mint says that orders will be limited to the total of 40,000 and mint versus proof will be determined by the orders received. >>
For what the mint is charging, they will sell only a small fraction of what they are authorized. >>
Tomorrow's the big day!!!
Bet the Mint can handle the traffic!!!
"Could have EVEN lower issues in
future, especially when we get to Leititia Tyler. "
This is one of the nicest looking coins of the series, but if you think Leitatia Tyler is tough to work with, wait until they have to put Eliza Johnson, Abigail Filmore, and Julia Grant on these coins. I fear there is not too much the mint can do to make these ladies attractive. And then we have Eleanor Roosevelt...
Very different from the Martha Washington sale.
Gardnerville, NV
=========================
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http://ProofCollection.Net
<< <i>Up close and personal......sweet looking lady!!!!!!
Nice looking coin except for the 5 o'clock shadow on her neck..
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
.
<< <i>Collections are personal descisions, every collector should buy what they like and what they feel is right for them. If you are asking why I collect the First Spouse Proofs, it is because I find them to be a low minatge modern Proof series struck in pure gold with appealing designs. If you are looking for a financial incentive, the PCGS First StrikeSM PR70's routinly go for twice the issue price or more. The Elizabeth Monroe being the lowest graded First StrikeSM population of the series so far, the Louisa Adams may be even lower. Controversially, the Liberty Spouses thou having broader appeal also have a higher graded population and thus have a lower marketvalue in the 70 grade. >>
Well I cleaned out the closet and think I still have about 16 of these various in Mint sealed boxes and they are first strike eligible, I gonna take a look but wonder if there is any premium for sealed?
<< <i>Nothing at the mint as of 8:15AM Pacific time, am I to early? >>
That would be 11:15AM Eastern, and you have to wait until 12:00 Eastern.
http://ProofCollection.Net
<< <i>With the price of Gold tanking today at $882 per oz, I'll wait to see if the Mint will adjust their prices before jumping in. After all, they will be available until 5/09. >>
Ditto. I'm really astonished they didn't lower the prices for this--and the last--issue. Really no way to justify it. The sooner they get onto a "spot-plus" system, the more they'll sell.
<< <i>With the price of Gold tanking today at $882 per oz, I'll wait to see if the Mint will adjust their prices before jumping in. After all, they will be available until 5/09. >>
still dropping...now at $877 ... 1:20PM EDST
<< <i>
<< <i>With the price of Gold tanking today at $882 per oz, I'll wait to see if the Mint will adjust their prices before jumping in. After all, they will be available until 5/09. >>
still dropping...now at $877 ... 1:20PM EDST >>
The current spot price of gold is of no consequence to the First Spouse pricing. Given the requirement of the enabling legislation, the Mint must sell the coins at a profit over what they cost to produce and since the gold used was previously purchased, I would not expect that to happen. They have also stated each First Spouse coin will remain on sale until sellout of the maximum authorized mintage or for one year from the issue date, if there are any coins that have not sold they would be melted.
<< <i>Not me....that price is ridiculous!!!! Only a fool or a serious collector would buy at that price. God Bless the serious collectors
Think the Mint would offer a credit adjustment(within 30 days of purchase) for those that bought at today's high price in relation to spot???
Or will the "Product Not Available" rear its head until prices have stabilized?
I will be shocked if any forum members bought today, unless "First Strike" designation is important to them.....
Hey, why couldn't gold go back up????
<< <i>
<< <i>Not me....that price is ridiculous!!!! Only a fool or a serious collector would buy at that price. God Bless the serious collectors
Think the Mint would offer a credit adjustment(within 30 days of purchase) for those that bought at today's high price in relation to spot???
Or will the "Product Not Available" rear its head until prices have stabilized?
I will be shocked if any forum members bought today, unless "First Strike" designation is important to them.....
Hey, why couldn't gold go back up???? >>
Gold and Oil are headed south.......mark my words, or something like that
Link
<< <i>PCGS PR70's show no sign of slowing down:
Link >>
<< <i>
<< <i>Not me....that price is ridiculous!!!! Only a fool or a serious collector would buy at that price. God Bless the serious collectors
Think the Mint would offer a credit adjustment(within 30 days of purchase) for those that bought at today's high price in relation to spot???
Or will the "Product Not Available" rear its head until prices have stabilized?
I will be shocked if any forum members bought today, unless "First Strike" designation is important to them.....
Hey, why couldn't gold go back up???? >>
Prior to the release of the Elizabeth Monroe spouse the two-month average spot price of gold was $868. For the Louisa Adams the two-month average was $910 since the Mint left the price the same. Louisa Adams has less of a markup than the Elizabeth Monroe, and therefore less room for the Mint to lower the price.
<< <i>PCGS PR70's show no sign of slowing down:
Link >>
Yahoo, guess I had better get mine up on e-bay soon.
Anyway, I'm in for 4 of these (2 proof, 2 unc), just waiting until next week so I can purchase them in one order and save a few dollars in shipping
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
<< <i>Based on my interpretation of the law cited above, it would seem that regardless of gold prices over the next year, the mint will not and cannot raise or lower the prices on each particular First Spouse coin. Not sure if that's correct or not though. Of course if gold rises enough, these will sell out at the current offering price as the bullion buyers grab them up (sort of the reason why Madison started to sell when gold hit $1000/oz.)
Anyway, I'm in for 4 of these (2 proof, 2 unc), just waiting until next week so I can purchase them in one order and save a few dollars in shipping
Are you grading with PCGS for First Strike?...just curious!!!
eBay Link
ps. Who still thinks this series is a good investment????
<< <i>
<< <i>Based on my interpretation of the law cited above, it would seem that regardless of gold prices over the next year, the mint will not and cannot raise or lower the prices on each particular First Spouse coin. Not sure if that's correct or not though. Of course if gold rises enough, these will sell out at the current offering price as the bullion buyers grab them up (sort of the reason why Madison started to sell when gold hit $1000/oz.)
Anyway, I'm in for 4 of these (2 proof, 2 unc), just waiting until next week so I can purchase them in one order and save a few dollars in shipping
Are you grading with PCGS for First Strike?...just curious!!!
Nah, keeping all mine raw.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448