Today, December 20, 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 second term in office. Since Grover Cleveland served as President during two non-consecutive terms, two separate coins are required to be issued for the Presidential $1 Coin series as well as the accompanying First Spouse Gold Coin Program.
The Frances Cleveland (Second Term) Gold Coin features a portrait of the First Lady which was designed by Barbara Fox and sculpted by Phebe Hemphill. The reverse carries a scene of Frances Cleveland greeting the public by the side of her husband. The reverse design by Joseph Menna is intended to represent her popularity with the public.
The coins carry a limit of 13,000 pieces across both proof and uncirculated versions. There are no household ordering limits imposed.
Pricing for the start of sales will be $1,004 for the proof version and $991 for the uncirculated version. This is based on an average gold price within the $1,650 to $1699.99 range. Each coin contains one-half ounce of .9999 fine gold.
As discussed previously, the four 2012 First Spouse Gold Coins experienced a lengthy delay due to production problems. The first coin featuring Alice Paul Suffragist was released on October 11, followed by Frances Cleveland (First Term) on November 15, and Caroline Harrison on December 6. The latest release will mean that all four coins have been released over the course of only ten weeks, which is sure to put a strain on some collectors.
Looking ahead, disruptions for the series may continue into the following year. None of the five 2013 First Spouse Gold Coins were included on the preliminary 2013 product release schedule recently provided by the US Mint. In fact, the US Mint has not yet submitted design candidates for review to the Commission of Fine Arts and Citizens Coinage Advisory Committee. The series is legally required to continue under the Presidential $1 Coin Act.
Unless the US Mint starts to move more quickly, we may see another hurried release with all five coins issued in the closing days of the year. The 2013 releases will feature Ida McKinley, Edith Roosevelt, Helen Taft, Ellen Wilson, and Edith Wilson.
Today, the United States Mint will also be releasing the 2012 First Spouse Bronze Medal Four Medal Set and the Grover Cleveland (Second Term) Presidential $1 Coin & First Spouse Medal Set. I will have coverage of these products tomorrow.