Today, November 15, 2012 at 12:00 Noon ET, the United States Mint will begin sales of the 2012 Frances Cleveland First Spouse Gold Coin representing her husband’s first term in office. A second coin will be issued at a later date to represent her husband’s second term in office, since it was nonconsecutive.
The release of this year’s First Spouse Gold Coins comes after a lengthy delay due to production problems. The first 2012-dated release featuring Alice Paul Suffragist was released on October 11. Today’s release will be followed by the Caroline Harrison Coin scheduled for December 6. The fourth design for this year for Frances Cleveland (second term) has not yet been scheduled. Previously, the US Mint indicated that all four designs would be minted and released within the calendar year.
The Frances Cleveland (First Term) Gold Coin features a portrait of the First Lady on the obverse with inscriptions indicating her name, the motto “In God We Trust”, “Liberty”, the order of the Presidency, dates of the term, the date, and mint mark. The obverse was designed by Joel Iskowitz and sculpted by Don Everhart.
The reverse design depicts a scene from one of the working women’s receptions that the First Lady often held at the White House. Inscriptions include “United States of America”, “E Pluribus Unum”, the denomination of “$10”, and the precious metal content “1/2 oz. .9999 Fine Gold”. The reverse was designed by Barbara Fox and sculpted by Michael Gaudioso.
Available in either proof or uncirculated versions, the coins have a maximum mintage of 13,000 across both versions. No household ordering limits are imposed.
Pricing for the coins will begin at $1,029 for the proof version and $1,016 for the uncirculated, which is based on an average market price of gold within the $1,700 to $1,749.99 range. Pricing will be subject to potential weekly adjustment based on the market price of gold.
The previous release of the series featuring Alice Paul recorded the highest opening sales for the series in years. The strong opening was likely the result of pent up demand after the long delay in the series as well as some excitement about the unexpected sell outs and mintage lows established by the uncirculated Lucy Hayes and Lucretia Garfield coins.
Today’s release may also see a strong start, but a factor weighing on sales may be the frequency of release for the coming issues. In previous years, releases were staggered three to four months apart. For this year, the releases will come about a month apart or less.