US Mint: First Spouse 1/2 oz vs American Gold Eagles 1 oz

9 posts / 0 new
Last post
#1 Thu, Jun 23, 2011 - 7:28pm
Moiliili Quarry
Offline
-
Honolulu, HI
Joined: Jun 14, 2011
25
191

US Mint: First Spouse 1/2 oz vs American Gold Eagles 1 oz

For the guys with some numismatic experience ... 

I'm debating whether to acquire some First Spouse 1/2 oz gold coin today from the US Mint. Today, they began selling Julia Grant gold coinage. I prefer the proof, never owned one before. But at $929 for the half-ouncer, that's roughly $170 over spot (per oz). I don't mind paying premium for the 5-oz America The Beautiful silver coinage, but the First Spouse gold? It's a tough call, especially when American Gold Eagles are available much cheaper. There's a side of me that is practical and has remained sealed to lower bullion prices. But a small part of me is digging the numismatic flavor of coins. Tough call. In addition, a new ATB is out next Wednesday, and on Thursday, new American Silver Eagle proofs go on sale. (I've been also buying junk silver, and silver and gold at lower prices.) 

Did some checking on eBay regarding the First Spouse coins. There have been previous series (2007, '08, '09) of First Spouse half-ounce gold coins, and some of them are selling below spot. They include a half-ounce Dolley Madison ('07) currently going for $676 (with 2 days left). This site lists the Dolley Madison mintages at 18,355 for proof, 12,541 for uncirculated. I think that Dolley coin will get much higher before the deadline. Paying $170 over spot for a new Julia Dent proof or even a Mary Todd Lincoln proof doesn't make sense, especially with the possibility of Spot Gold prices dropping this summer.  Leaning toward waiting a day, a week or longer. If spot prices tank again tomorrow, I'll avoid premium prices; US Mint's prices are locked and will not adjust to the spot. In that case, I'm better off waiting and getting American Gold Eagles elsewhere at "only" $100 over spot. If I wait, I may miss out on the First Spouses, but I like my chances by being patient.  Input welcome :)
Edited by: Moiliili Quarry on Nov 8, 2014 - 5:31am
Fri, Jun 24, 2011 - 7:24pm
No1Hunter
Offline
-
Dark Side of the Moon, WA
Joined: Jun 16, 2011
142
1321

Wrong on one point

"US Mint's prices are locked and will not adjust to the spot."

They will not adjust TO spot but they do adjust the price of gold and platinum (not silver) coins depending on what the spot price is.

https://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/GoldCoinGrid.pdf

Tue, Aug 2, 2011 - 12:37am (Reply to #2)
Moiliili Quarry
Offline
-
Honolulu, HI
Joined: Jun 14, 2011
25
191

Up up and away

US Mint upped the price of the First Spouse proof 1/2 oz proof from $929 to $954 ... then again up to $979 recently. 

https://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?cata...

$979 for a half-oz gold coin. I can't dig it. 

Tue, Aug 2, 2011 - 4:09pm
No1Hunter
Offline
-
Dark Side of the Moon, WA
Joined: Jun 16, 2011
142
1321

Mint Gold Price increase

If you are going to buy, you should buy today as you can expect an increase in the Mint prices by at least $50 tomorrow based upon the current spot price for the last week..

Tue, Aug 2, 2011 - 4:59pm (Reply to #4)
Silver bear of very little brain
Offline
Joined: Jun 15, 2011
41
293

What is this First Spouse

What is this First Spouse nonsense? Are you going to have a second wive's club issue? If you are going down this route think of the ramifications of finding a coin capable of fitting Michelle's............. Oh never mind!

I like my honey solid and golden
Tue, Aug 2, 2011 - 8:05pm
Dr Durden
Offline
-
Twin Cities, MN
Joined: Jun 14, 2011
730
5371

I bought an NGC slabbed Abby

I bought an NGC slabbed Abby Adams about a month ago and I paid under spot net on eBay for it. I buy numi's if I can find them for the same price as those out of tubes. So far, I've found quite a few...so i'd say look around before paying out your ass on the premium. 

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Wed, Aug 3, 2011 - 6:10am (Reply to #6)
Moiliili Quarry
Offline
-
Honolulu, HI
Joined: Jun 14, 2011
25
191

Yes!

Will do Doc! I'm not paying that premium. Can't do it. But I'll shop like you advised. 

Sat, Aug 20, 2011 - 2:10am
Cccmachine
Offline
Joined: Aug 19, 2011
3
2

I ordered a 1 oz gold eagle

I ordered a 1 oz gold eagle for $1787 right before this big run up.The mint keeps pushing back the shipping date on my order. Has anyone else had this problem? What are the chances of me getting my coin?

Sat, Aug 20, 2011 - 2:10am
Cccmachine
Offline
Joined: Aug 19, 2011
3
2

I ordered a 1 oz gold eagle

I ordered a 1 oz gold eagle for $1787 right before this big run up.The mint keeps pushing back the shipping date on my order. Has anyone else had this problem? What are the chances of me getting my coin?

Become a gold member and subscribe to Turd's Vault

Contribute

Donate  Shop

The TFMR Silver Round
Doc and TF Partnership Advertisement

Recent Comments

by Mr. Fix, 32 min 38 sec ago
by Joseph Warren, 1 hour 19 min ago
by Green Lantern, 2 hours 47 min ago
by Green Lantern, 2 hours 57 min ago
by SilveryBlue, 5 hours 13 min ago
randomness