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 Replies: 9 / Views: 1,889 |
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Pillar of the Community
United States
1116 Posts |
In my opinion the mint has effectively killed off the 1st spouse coin without ever issuing any of the 2012 coins. There are really two issues at work here with this coin. First they are unpopular with a number of collectors. Even so according to legislation the mint is required to issue these coins provided there is no cost to the government. Being a gold based coin that shouldn't be an issue otherwise both the Buffalo and Gold eagles wouldn't be being sold today. I for one have been looking forward to this issuance of the 2012 coins but the procrastination of the mint in not issuing these coin in union with their supporting presidential coins means that if they do decide to issue these coins they will be done so in spurt and this will have the effect of not one wanting these coins. I believe that this issue will be both the shortest lived and lowest volume in the history of the mint. If you have any of these coins you will be owning a rare American coin. The mint has done this spurt issueance with the 5 ounce silver ATB and so the sales volume has suffered because of it. |
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Pillar of the Community
United States
2077 Posts |
I think they release them at the end of the year. Mark your calendar!
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Moderator
 United States
14463 Posts |
the mint's site is still showing their Availability Date as TBD. Don't give up hope yet.
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Pillar of the Community
 United States
1116 Posts |
Fuzzy isn't that the sign over the gates at the last stage of Dante's "Inferno". No wait that's the "Abandon all hope" sign.
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Bedrock of the Community
United States
17884 Posts |
I believe the authorization law requires they be produced. It isn't up to the Mint whether to make them or not.
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Valued Member
United States
132 Posts |
Yes, unfortunately they have to finish the run..
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Pillar of the Community
United States
1116 Posts |
The question still remains because I'm now wondering if the mint has any intention of releasing what they are required to mint to the general collecting public.
The only caveat that I'm aware of in this situation is that the mint should not be creating coins at a loss to the Federal Government and therefore if they are that point should be reported to the congressional oversight so that the mintage laws can be corrected.
It's not up to them to ignore what they are required to do. If we could do that how many of us would pay income taxes.
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Bedrock of the Community
United States
17884 Posts |
What they could do to keep the number very small (It is already small) and still satisfy the mandate is to release them as a set late in the year as a mint to order. A lot of the people that buy them are picking a choosing which ones they want and if they have to buy all four or all eight at once mintage would drop even lower. The mint wouldn't need as many dies, or as much packaging or as many planchets, or have to devote as much time to them etc. The high price of the set(s) should help keep the orders down. Say $3500 for the four piece Unc, $4000 for a the four piece Proof, and $7250 for the 8 piece set. Even those that have been buying each one may balk when they have to lay out that much lump sum instead of being able to spread it out through the year.
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Pillar of the Community
United States
1027 Posts |
Amazing, information from the mint. My bet is they will never tell us what the "problems" were.
---------------------------------Announcement---------------------------------
The United States Mint has encountered problems with producing some of the 2012-dated First Spouse Gold Coins. Once the problems are resolved and final trial strikes approved, the First Spouse Gold Coins will be struck at the United States Mint at West Point and bear the "W" mint mark.
The West Point facility has production capacity to strike all four coins in proof and uncirculated qualities. As soon as we are certain the quality of these coins meets the standards you have come to expect, we will announce on-sale dates for each one. We apologize for the delay in releasing these coins.
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Pillar of the Community
United States
1817 Posts |
Why is there a production "problem" in the middle of the series? The Mint has had five full years of this series already under their belt, this should be old hat to them, no? This fish smells badly, something is not being told. The 4/4/8 coin set does seem likely, probably with little fanfare on Nov. 1st for a limited "window.," and that'll effectively kill off what remaining collector enthusiasm there is.
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Replies: 9 / Views: 1,889 |
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Posted 08/03/2012 7:01 pm
