Dolley Madison First Spouse Gold coins went on sale exactly two weeks ago. The previous Martha Washington, Abigail Adams and Thomas Jefferson’s Liberty spouse coins sold out within hours of their release.
Why are both the Proof and Uncirculated versions of the Dolley gold coins still available?
No one can really get into the psyche of buyers, but different indicators are exposed now compared to the previous spouse coins that sold out like hot cakes.
Price factors: Dolley First Spouse Gold coins cost more
The Dolley proof is $529.95 while the uncirculated is listed for $509.95. That averages to $100 above previous spouse coins.
Although the Mint didn’t indicate why the Dolley gold coins were higher, they were understandably driven up by the increasing cost of gold.
Interestingly, since the Dolley spouse coins went on sale, gold prices (London Fix) have swung from $780 an ounce to $830 and now back closer to $780. That’s a volatile swing and a heavier consideration when evaluating the benefit of buying a collector coin. Especially when you can wait. Why?
The demand is down: You can still find older First Spouse Gold coins
First Spouse Gold coin demand is down. Yes, that’s a rather obvious statement considering the Dolley First Spouse coins are still available from the Mint. But the spouse series demand is down as well.
Remember how the previous spouse coins initially faired on the secondary market? They once commanded huge premiums. Since, however, calm and reality have poked their heads up. Prices are substantially down.
Not only can you still find previous spouse coins to buy easily, you can actually find bargains where they’re CHEAPER than a Dolley.
Why buy a Dolley Madison First Spouse coin when you can purchase a Martha Washington AND spend less?
And naturally, and perhaps most signifiantly, those who first purchased spouse coins solely to make a quick profit are no longer buying them as readily. That’s affecting demand as well.
The time of the year slowing sales? Will they sale out eventually?
Let’s face it… It’s the holiday season and it’s more likely for many that disposable cash will be spent on gifts for others, instead of buying a rather pricey gold coin for oneself.
And then, consider this… It probably wouldn’t go over well with the spouse you live with every day to buy a $500 coin for yourself and then not spend at least as much for Christmas on them. A $500 purchase suddenly becomes twice as expensive!
For more information regarding the gold coin series, visit the U.S. Mint or the CoinNews sister site about First Spouse Gold Coins.
