If the First Spouse coins are “bullion coins,” why are they being issued as commems?
Overdate
Posts: 7,034 ✭✭✭✭✭
The enabling legislation clearly and repeatedly states that First Spouse coins are bullion coins.
Link. (See Section 103.)
Notice that the wording of the First Spouse section is very similar to the wording, in the same legislation, of the section authorizing the $50 Indian Head/Buffalo gold coin, which has been marketed as a bullion coin since the series began in 2006.
The definition of "bullion coin" on the Mint's website is: "precious metal coin traded at current bullion prices."
Link.
First Spouse coins – both uncirculated and proof – are sold like commemoratives, in very fancy packaging at a considerable premium to their precious metal value. Was this the original legislative intent? If so, why were they specifically designated as bullion coins, and why are they the only bullion coins not released through regular bullion channels at a modest premium to their precious metal content?
Link. (See Section 103.)
Notice that the wording of the First Spouse section is very similar to the wording, in the same legislation, of the section authorizing the $50 Indian Head/Buffalo gold coin, which has been marketed as a bullion coin since the series began in 2006.
The definition of "bullion coin" on the Mint's website is: "precious metal coin traded at current bullion prices."
Link.
First Spouse coins – both uncirculated and proof – are sold like commemoratives, in very fancy packaging at a considerable premium to their precious metal value. Was this the original legislative intent? If so, why were they specifically designated as bullion coins, and why are they the only bullion coins not released through regular bullion channels at a modest premium to their precious metal content?
My Adolph A. Weinman signature 
0
Comments
<< <i>They seem to be more like the old bullion medals from the American Arts Medallions series of the 1980s. >>
The American Arts Medallions were intended to compete with bullion coins such as the Krugerrand, and were sold at a modest premium to the price of the bullion they contained.
First Spouse coins have always been packaged and marketed as a premium product with a price tag to match, despite being authorized as "bullion coins."
My Adolph A. Weinman signature
<< <i>Because things labeled as "coins" sell much better than things labeled as "medallions". >>
And at higher prices.