Always a great selection of U.S. collector coins

July 2007

MARTHA WASHINGTON AND ABIGAIL ADAMS GOLD COINS SELL OUT IN RECORD TIME

If you already knew that the U.S. Mint would strike coins for the first two (and subsequent) first ladies, chances are you probably weren't eager to shell out over $400 for each one.

"First Spouse" coins are required by Public Law 109-145, the same legislation that has brought about the Presidential Dollar series. A 24 karat half ounce gold coin honoring each first lady is to be issued on the same schedule - 4 per year - as the manganese-brass alloy dollar coins for each deceased former President of the United States. For a President who was not married while in office, the corresponding gold coin will feature a design with an allegorical representation of Liberty.

Realizing there could be minimal interest in the half ounce gold coins, the Mint turned to a proven marketing ploy to stoke demand. It set a limit of only 40,000 coins each for the Martha Washington and Abigail Adams coins, which went on sale June 19. Uncirculated coins were priced at $410.95 each, and proof coins at $429.95 each. The Mint experienced the fastest sellout ever for any of its products, with the entire limit of both coins ordered in about 2 hours, mostly to buyers anticipating price appreciation once the coins had sold out. So far, that speculation has been on target, as some of these coins have brought in the neighborhood of $700 in online auctions.

Bronze medal versions of the First Spouse designs are also being struck. Orders for the Martha Washington and Abigail Adams medals were still being accepted on the U.S. Mint web site for only $3.50 each at the time this newsletter was written.

GOOGLE CHECKOUT NOW ACCEPTED

Telesphere Numismatics has recently added Google Checkout to the payment options for orders placed on our web site. This convenient service is completely free to customers and allows users to make online purchases from participating merchants while only providing credit card info to a single business (i.e. Google). Google Checkout accepts major credit cards, including Visa, MasterCard, American Express, and Discover. To learn more about this service, please visit the Google Checkout web site.

To make this payment option possible, some modest changes have been made to our secure online shopping cart. Shipping costs are now determined as items are added to your shopping cart (previously we provided an estimated shipping cost and determined the exact amount after the order was placed), as is any applicable sales tax (in most cases no sales tax is applicable).

You may still pay for orders by having us charge your Visa or MasterCard, as well as through PayPal or by mailing us a check or money order. For PayPal orders, you will now be taken to the PayPal web site to make your payment during the checkout process.

CURRENT SPECIAL

Through July 31, we're adding one each 2007-P and 2007-D Idaho quarters in uncirculated condition free to orders of $45 or more placed with our secure online shopping cart. More info about this offer is available on our Current Special page.

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