Julia Grant First Spouse Gold Coin in Proof Sells Out

by CoinNews.net on April 1, 2012 · 6 comments

Featuring a portrait of Julia Grant, the first 2011-dated First Spouse Gold Coin sold out Friday afternoon with ending sales under 4,000. Last listed at a price of $1,004.00, the U.S. Mint website is showing the proof version of the Julia Grant First Spouse Gold Coin as "Sold Out" while the uncirculated coin remains available for $991.00.

Julia Grant First Spouse Gold Coin - Proof

The proof Julia Grant First Spouse Gold Coin sold out Friday

The one-half ounce, 24-karat gold proof coin was released with its companion on June 23, 2011. The most recent sales figures as of March 26, 2012 had weekly sales of the proof up a modest 4 to 3,968 and the uncirculated up 5 to 2,580 for a total sales count of 6,548.

The amount is well below the maximum 15,000 mintage announced for both coins when they were released, but the U.S. Mint has shown a recent tendency to produce fewer of the spousal coins given waning demand for the series in general. In the further past, the U.S. Mint had often kept each set of First Spouse Gold Coins on sale for one year or until they were replaced by a newer year’s issues. The U.S. Mint now seems to produce a finite number coins based on early buying trends. When those are gone, no more are produced and a sell-out can then occur.

The U.S. Mint delivers more proof coins than uncirculated, which suggests that the Julia Grant First Spouse Gold Coin sales total could stay below 7,000 even should the uncirculated issue remain available for many more weeks.

On a notable level, Julia Grant’s proof now sports the lowest mintage across all other no longer available proofs. Margaret Taylor’s 2009-dated proof had been most scarce at 4,787 — although the scarcest title could well be earned by another of last year’s issues before all is said and done.

In addition to the uncirculated Julia Grant First Spouse Gold Coin, the United States Mint continues to offer six others in the series. Those and their most recent sales include:

First Spouse Gold Coin Release Dates Latest Sales
Proof Eliza Johnson May 5, 2011 3,811
Uncirculated Eliza Johnson 2,847
Proof Lucy Hayes Sept. 1, 2011 3,116
Uncirculated Lucy Hayes 2,007
Proof Lucretia Garfield Dec. 1, 2011 2,600
Uncirculated Lucretia Garfield 1,640

 

Each of the coins may be purchased at the U.S. Mint’s website, http://www.usmint.gov/catalog, and at 1-800-USA-MINT (872-6468).

An announcement has not been made yet for when this year’s coins will begin to make their appearance.

{ 6 comments… read them below or add one }

jim April 2, 2012 at 10:25 am

So, in fact the coin did not sell out, the mint on their own decided to change the law and mint a smaller number of coins than the law authorizes. I understand the mint’s desire to not mint more than the demand but they can at least honor the law and mint what they said they would (i.e. 15,000 max) up to the same date the associated presidential coin is available for sale. Is this a lame idea from the incompetent deputy director of the mint? They’re not at all hesitant to delay delivery until it suits them so why not mint the coins one final time at the end of the run for all the orders unfulfilled up to that point and then call it quits for that coin?

bill April 2, 2012 at 11:41 am

the law only applies to people not in the government
or if you make below 100,000. /sarc

RonnieBGood April 2, 2012 at 11:49 am

Hello Jim,
This is confusing terminology. You are right. They did not sell out. Should say, “Goes Off Sale”. What happens is that when is not enough demand (not enough sales to meet the 15k max) at a point in time (of the Mint’s determination) they stop selling. They have a mintage run and when that sells out or comes close they stop selling (after 1 year of sales). I am sure that this is cost effective for the Mint but it is very confusing for Collectors. We never know when coins will go off sale! One other point. If they did mint the 15k and only sold 6,548 then they would have to melt the remaining for future coin mintage. I like your idea on an end run, however, there may be an issue with Orders Due to the Price Fluctuations of Gold.

Zaz April 2, 2012 at 3:02 pm

The terminology that is applicable to this process is “forecasting.” The Mint, using available market trends and the precious metal prices of the previous 4-5 months, will predict how many gold coins can be sold, usually within a quarterly period, for about a year’s time. It means they will strike an initial batch of coins then periodically supplement with additional smaller runs during the year the coin is available for sale. The 15K is a maximum guide only, and it won’t be anything near that for each of the 2011 FS coins. The more realistic sales figure is 4,000 per proof and 3,000 per uncirculated.

george glazener April 2, 2012 at 3:39 pm

Sounds good in theory, but knowing this bunch, they probably just pull a number out of their ass. It’s easier that way, and they can get back to texting their friends sooner.

TucsonAZ April 16, 2012 at 12:38 pm

I wonder if the Mint to delaying issuance of the 2012 FS issues so they can ensure that they sell as many of the 2011 issues as possible. There’s been no explanation (or least none I have heard) why the 2012 FS issues are being delayed so long.

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