Posts Tagged ‘Louisa Adams’

Louisa Adams First Spouse MS

First Spouse Louisa Adams in Uncirculated conditions, this coin came out from the US mint in 2008 and are to have a max population of 20,000 coins in uncirculated conditions but sales of the coin will determine the final population numbers. Because of the economical crises in 2008 maybe the coin will not sell very well and a lower population number will be the result.

Louisa Adams Proof

First Spouse Louisa Adams our 6th first lady in the white house here from the US Mint in Proof condition. Very nice coin

Louisa Adams First Spouse $10 Gold Coin
First Lady, 1825–1829

The only first lady to be born outside the U.S., Louisa Catherine Johnson was born in 1775 in London to an American father and British mother.  The family moved to France when she was three, where she completed her education.  She met John Quincy Adams while he was serving in a diplomatic post in London and they married in 1797.  Her first time on American soil came in 1801 when John Quincy was called back from diplomatic service by President Jefferson.  She finally met her in-laws, former president John Adams and the formidable Abigail Adams, at that time.

Louisa Adams was an accomplished musician whose talents included singing, playing the harp and piano, and composing.  A prolific author, she penned both poetry and drama.  She authored a play titled Suspicion, or Persecuted Innocence while she served as first lady, in which she stressed the strengths of women.  She was the first first lady to write her memoirs, entitled Adventures of a Nobody.

Reverse Design

For nearly six years, from 1809–1815, Louisa and John Quincy Adams lived as American diplomats in the Russian capital of St. Petersburg.  In 1814, John Quincy was summoned to The Hague to participate in peace talks to end the War of 1812.  In 1815, she and her 8-year-old son Charles began an arduous journey across much of Europe to join her husband in Paris.  While alone in Russia, Louisa not only managed the family’s affairs, but her courage and linguistic talents helped the two of them find safe passage through unfamiliar and often dangerous lands.

gold spouse coin

Here are the new release mintage of the First Spouse $10 gold spouse coin, these numbers will change over time and I will publish new numbers. As you can see the coins are not selling as well as the mint thought. That should be a buying opportunity for collectors as the value of these coins with lower population numbers should go up faster.

First Spouse                                      UNC.                               Proof

gold coins first spouse

According to an article in the March 10, 2008 issue of Coin World, thousands of First Spouse Gold Coins have been melted. While this has implications about current demand for the series, it also has implications about the future of the series.

The coins were melted by SilverTowne, a coin dealer and private mint. According to the article, SilverTowne has melted between 5,000 and 7,000 Martha Washington and Louisa Adams coins, including both proof and uncirculated versions. An unspecified number of Thomas Jefferson’s Liberty coins were also melted. In addition, the firm has melted thousands of other recently issued gold commemoratives coins.

According to the president of SilverTowne, the coins were melted after his firm identified little or no retail demand.

I think it’s actually quite saddening that SilverTowne would choose to melt these coins. If they had offered them for sale at melt value prices, I think they would have readily found buyers to deplete their entire inventory. From the firm’s perspective this would have accomplished the same task of liquidating the inventory at the prevailing price of gold without destroying the coins.

As for the implications of the melt, in the short term it seems to indicate a lack of short term demand. In my opinion there is plenty of demand for the coins, as evidenced by the dozens that sell each day on eBay for prices well above the melt value. Perhaps there was just not the kind of bulk demand needed to quickly sell thousands of the coins.

As for the future implications of the melt, a single source has just removed almost 10% of the entire mintage. Mintage figures for these coins will be misleading future collectors, who may find the coins are more scarce than the mintages indicate.

Secondly, the early speculative demand of the series is probably at an end, but this might be a good thing. SilverTowne’s purchases of thousands of the coins no doubt helped fuel the demand. With them and other similar speculators out of the picture, future issues may end up with significantly lower mintages. Eventually there might be super low mintage coins like the Jackie Robinson Gold Commemorative which become worth far more than their weight in gold.

The First Spouse Gold Series is a marathon, not a sprint. It is currently scheduled to run for ten more years. While early speculation has dissolved, I am sure the future has many surprises left in store.

Original Article: http://firstspousegold.us/blog/thousands-of-first-spouse-gold-coins-melted/