Maximum Mintages for 2015 First Spouse Gold Coins

kennedyThe United States Mint has established the maximum mintage levels for the 2015 First Spouse Gold Coins. A higher figure has been set for the Jacqueline Kennedy First Spouse Gold Coin in the expectation of higher demand.

Next year, the First Spouse Gold Coin Program will enter its ninth year of release. When the series launched in 2007, the first three releases reached quick sell outs at a mintage level of 40,000 coins each. The early enthusiasm for the series quickly fizzled and no subsequent releases have come close to meeting their maximum mintage, despite the level being ratcheted lower over the years.

From 2007 to 2009, a maximum mintage was established at 40,000 coins across proof and uncirculated versions. After each of the 2009 releases failed to sell even 10,000 pieces across both versions, the maximum was reduced in the following year. From 2010 to 2011, a maximum mintage of 15,000 was established, with the exception of the Mary Todd Lincoln release which was set at 20,000. For 2012, the maximum was reduced to 13,000. In 2013, the level was reduced further to 10,000 pieces per issue.

For the upcoming 2015 First Spouse Gold Coins, the maximum mintage will remain at the 10,000 level for the coins honoring Bess Truman, Mamie Eisenhower, and Lady Bird Johnson. The coin honoring Jacqueline Kennedy will have a higher maximum mintage of 30,000 pieces. These maximums apply across both proof and uncirculated versions with the split to be determined based on customer demand.

While a higher mintage level for the Jacqueline Kennedy coin may have been expected due to her popularity as First Lady, the US Mint also cited the possible impact from the release of this year’s 2014 50th Anniversary Kennedy Half Dollar Proof Gold Coin. The Mint suggested that customers seeking to make special Kennedy gold sets using both of these coins may drive a sharp increase in demand. By setting a higher maximum mintage, the Mint would have the flexibility to increase production if demand exceeds the levels of the other three coins.

In announcing the maximum mintages, the US Mint stressed that they are not obligated to mint and will not mint to the maximum levels unless supported by customer demand.

At this point, final designs for the 2015 coins have not yet been selected. The design candidates for the coins can be viewed here.

As it stands, the lowest mintage for a sold out issue of the First Spouse Gold Coin Program is held by the uncirculated 2011 Lucretia Garfield coin at 2,168 pieces. This is closely followed by the uncirculated 2011 Lucy Hayes coin at 2,196. It is possible that new lows may be set by the 2013 or 2014 issues, which still remain available for sale at the Mint.

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Comments

  1. gary says

    That’s too bad that the Mint has decided to make the Jackie Kennedy up to triple the mintage of the other 2015 First Spouse coins. If it should sell anywhere close to the maximum mintage of 30,000 the coins will probably take a hit in the aftermarket with so many made & available.

  2. stephen m says

    I agree. With the higher mintage it just doesn’t seem fair to all that have supported this series by tripling the mintage for this one. I know you can’t blame the mint. Jackie was one classy lady in my opinion.

  3. Brad says

    I wouldn’t say all is lost on the Jacqueline Kennedy higher maximum mintage. Logic would dictate that anyone who does try to build a Kennedy gold set like the Mint suggested will buy the proof version. That would leave very little room for the uncirculated coin’s mintage. We could end up with extremely lopsided totals of 28,000/2,000.

    Another silver lining is that those of us who have been faithful to the series since 2007 will likely not be shut-out in the ordering process. The ultimate slap in the face would be failing to get the Kennedy coins from the Mint due to an extremely fast sellout to speculators, and having to buy them in the inflated aftermarket just to keep the sets we’ve been building all these years intact.

    Regarding lowest mintages, Lucretia Garfield and second place Lucy Hayes will definitely be dethroned. None of the 2013 uncirculated coins will reach sales of 2,000. One of the Wilsons will end up the new low-mintage queen, at least for now. Of course that all may depend on the Mint following past procedure of pulling the coins off-sale after a “last chance” sale in December. Even if they don’t, I would wager the actual mintage by the end of 2013 was no more than 2,000 each on the uncirculated coins.

  4. says

    I don’t think higher mintage will play a big factor in the added value of the coin simply because it will have a broad buyer base. The good thing is that many buyers won’t buy the FS coin, even if it is Jacqueline Kennedy. Her popularity will be enough to maintain it’s value.

  5. Sith says

    I’m not sure why everyone is so upset, I doubt they will get even close to the 30K mintage but if they do that means IMHO that the secondary market for the coin will be through the roof. Why do people confuse low mintage with increased demand? The low mintages of most of the FS coins has not increased their secondary values in comparison to the “liberty” FS coins. I don’t collect these coins, so take my 2 cents with a grain of salt.

    As far as making special collector sets either the mint reads this blog or read my mind, or their are a whole bunch of people with the same idea. I’m looking at breaking up my Kennedy gold if I get a Jackie O and doing just this…secondary market values be damned (they will be removed from their OGP), then again this would be one of the times I would actually pay for a special label, but definitely look at having them graded just for the ability to display them in their slabs (rather than capsules) within a nice wooden case.

  6. Blair J Tobler says

    Jon in CT,

    Regarding your post in the last thread about the Gold and Platinum pricing grid – If you go to the American Eagle Coins page , under the description it says “Read more”. Click that, and in the resulting paragraph is a link to the grid.

  7. Louis says

    The Mint’s mission is not to enrich collectors. It is to sell as many coins as possible and distribute them as widely as possible. And I also agree they will not come close to selling 30K. That is just a max like 100K for $5 gold commems that sell less than 10K.

  8. Ikaika says

    @ Louis

    Thank you for the reminder that the Mint’s mission is not to enrich collectors 🙂

  9. Joseph says

    Don’t agree with you on this, the 1st and foremost goal of mint now is MAKING MONEY,

    The Mint’s mission is not to enrich collectors. It is to sell as many coins as possible and distribute them as widely as possible. And I also agree they will not come close to selling 30K. That is just a max like 100K for $5 gold commems that sell less than 10K.

  10. Jon in CT says

    Blair J Tobler wrote on October 17, 2014 at 12:28 PM:

    Jon in CT,

    Regarding your post in the last thread about the Gold and Platinum pricing grid – If you go to the American Eagle Coins page , under the description it says “Read more”. Click that, and in the resulting paragraph is a link to the grid.

    Ah… I see. If one navigates to one of the following three pages:

    Shop / Coin Programs / American Buffalo Coins
    Shop / Coin Programs / First Spouse Coins
    Shop / Coin Programs / American Eagle Coins

    and happens to peek behind the small Read more text button, then the link to the Gold and Platinum price grid is revealed.

    None of the product pages for individual gold or platinum products contain that link and it cannot be found using the Mint catalog’s search function.

    Thanks, Blair.

  11. VA Rich says

    Three of my lessons learned for the year (among many)

    1. Buy a coin that excites you, or one’s theme you believe in & support.

    2. If looking for considerable price appreciation, look to the World mints.

    3. You can’t make chicken salad out of chicken s$!t, so choose what you collect very cautiously, this is a high priced game

    TGIF!

  12. TimTom says

    I don’t think they’ll come close either if they are barely doubling that max mintage on a gold Kennedy coin, I doubt there will be much of a non-collector draw to the Jackie O coin. Now the speculator/flipper, that’s the wild-card. Coin by itself though is definitely a winner. Who cares what these clowns choose to do.

  13. MN says

    I went to the US Mint site, pointed to Featured / clicked on Upcoming products then on the “50th Anniversary Kennedy 2014 Half-Dollar Silver Coin Collection” link; I placed the K13 in my account’s “Wish List”, along with other products I will be ordering on 10/28. The K13 shows “In stock” on my Wish List …a quantity will have to be filled in before placing the order but the saved list should still speed up the ordering process.

  14. Tinto says

    @TimTom

    I agree the Jackie O coin by itself is a winner. I just hope those clowns at the Mint will do the image justice when transferring (or whatever one calls it ) the drawing to the coin.

  15. Sith says

    Oh and I’m buying based the selection of the image Michael is showing, none of the other images would cause me to depart with my cash.

  16. gary says

    @VaRich… Your “3 lessons learned this year” is very excellent advice for anyone who collects coins. Your point #1 is really important. Don’t buy any coin that does not fit with your plan of collecting because it may just become a money pit. As to your point #2, yes, certain World Coin issues can be great to collect & invest in but some of the limited mintage precious metal coins are quite pricey over bullion prices so watch out there!

  17. Ends in Error says

    Does the Mint think it actually has real Collectors of the First Spouse series? There may be a handfull but I believe most are makers and flippers of First Strike and Early Release stuff.

    First Pets might be a big seller. Lets bring something like that into the marketplace.

  18. Jerry Diekmann says

    Sith – i feel the same as you do about the Jackie coin – I have never bought any of the FS gold coins and this is the only one that I would pay this much cash for, but only if it is the same design that Michael showed at the top of this blog.

  19. Clark says

    I agree that mintage limits for First Spouse gold coins have been proven irrelevant to secondary mkt value for every single gold spouse coin minted to date. Other factors, like actual mintages, have been relevant, but not limits.

    If the 2014 gold Kennedy debacle taught us anything, it is that the allure of JFK and Camelot has faded to the extent that it simply does not move related coins much beyond the usual modern coin collector base.

    As a First Spouse series collector, I would like to see record breaking sales of Jackie O gold coins to boost interest in the series, which might help increase the value of other coins in the series…but, I don’t think it is likely to happen.

  20. Hawkster says

    I have have not purchased any of the FS coins because of my total lack of interest in this series. I see no reason to change my view and purchase the Jackie Kennedy FS coin, despite her popularity.

  21. Hawkster says

    Let’s face it, the so called collector base for the Jackie O. FS will be the “more mature” collectors or, to put it more bluntly, us old farts who were at least into their early teens during the Camelot years.

  22. Jerry Diekmann says

    Hello, Hawkster – you’re right – from one old fsrt to snother. Nostalgia has a way of making the past look better than it actually was, and the Camelot years weren’t all that good, especially after the October 1962 Cuban missile crisis, and they presaged a terrible decade ahead for the American people. The younger people will not have any idea of just how traumatic the late 1960s and early 1970s actually were.

  23. merryxmasmrscrooge says

    Jackie Q looks very intelligent This coin will hold it’s value whatever the mintage.
    Look at the 2001 silver 1 oz Buffalo Commems. another great design.
    High mintages, but high value.

  24. jeff says

    What would make the set is if the mint made the Jacqueline Kenney in one ounce gold . I know pipe dream I agree with most nice design wish the pictorial was from earlier in her life ..

  25. thePhelps says

    I must be in the rather small minority… Jackie holds no fascination for me at all. Other than being pretty (which seems to be rare in this coin series)… the coin holds no more interest to me than any of the rest.

    I agree with others – the nostalgia collectors might be stepping up, but I am not going to spend the money to get a 1 off coin in this series.

  26. Hidalgo says

    Is the US Mint required to sell all First Spouse coins by the end of the year that they are minted? Can a 2014 First Spouse coin be sold in 2015? I believe there is no restriction on the sales period.

  27. thePhelps says

    Hidalgo – they can sell them for as long as they want. I don’t believe they can make more after the year is over though.

  28. bg35765 says

    Louis – If the mint’s mission is to sell as many coins as possible, then why do they have mintage limits for anything?

    A one day 10,000 coin sellout would give the whole series some much needed positive attention.

  29. Brad says

    Right, the First Spouse coins are minted in the year stamped on them, but they are sold for “approximately one year or until sold out.” That’s why I’m confident that the 2013 uncirculated coins will all come in lower than the current lows of 2011. Whether they’re pulled off sale in December or not, the actual quantity of coins available to be sold is most likely lower anyway. After the number of coins they must have had to melt for 2012, logic would dictate that they backed off on 2013 production, especially with five designs instead of the usual four.

  30. Ikaika says

    @ thePhelps

    I do respect your opinion, but for many us that were around in the 60’s and 70’s still have memories of the JFK presidency and the day he was assassinated. Jackie was a big part of it. As you mentioned, she was also pretty.

    One might assemble a subset with all the beautiful FS. It would not be difficult or too expensive 😉

  31. VA Rich says

    If JK-R-04-C is chosen that could be the game changer for sales, would be the only Reverse design that links back to the Presidency that I can think of and creates relevance to the entire JFK ’14 series effort. Just a thought…

  32. thePhelps says

    Ikaika – I was around as well… still don’t have any fascination with Jackie. I think the draw to the Kennedy’s is more to do with how good they looked and how young they were. Not to mention what happened to JFK… which naturally drives up interest.

  33. VA Bob says

    bg35765 – I know your question is for Louis, but if I may add, the commemorative coins the Mint offers are legislated by Congress. Mintages are included in those guidelines, because a portion of those sales goes to the organization that the coin represents.

    The Mint’s own endeavors don’t necessarily (there are exceptions, ASE special anniversary sets come to mind) have mintages pre-set. For example annual proof and mint sets, 2009 UHR, 2014 JFK. Many other coins that show a mintage (like the AGE’s, gold Buffalos, and proof or UNC ASE’s) may or may not have mintages pre-determined, but this is usually base on sales history.

  34. VA Bob says

    Clark I have to disagree with you on declaring the 2014 gold JFK as a “debacle”. Even if one only took the first week of sales (including all the returns), and they never sell another, this coin has be an unmitigated success for the Mint.

    Why? Because for the most part gold commemorative coins have been selling around 30K (both options with some exceptions). The JFK more than doubled that, without the set mintage or unusual hype that benefited BHOF sales. This from a coin that costs more than the usual $5 ($10 in the FS case) gold pieces. This was achieved with commemorative gold sales tending lower this century, Where this coin wasn’t as successful is the secondary market, due to it’s availability (for now). That is not a concern for the Mint, however.

    If you’re curious how many of each type of modern commemoratives are struck over the years here’s the info:
    http://moderncommemoratives.com/modern-commemorative-coin-mintages/
    It’s hard to label the JFK gold a Mint failure when one looks at all the mintages.

  35. Hidalgo says

    I have limited my collection of the First Spouse collectibles to the bronze meals. I have each annual set of First Spouse bronze medals since 2007. The next set (2014) will be available for purchase on October 24th on USMINT.gov. 🙂

    Some of the First Spouse gold coins I previously purchased are worth less now that the price of gold has fallen. I presume that secondary market values will continue to fall if gold prices fall.

  36. Ikaika says

    @ VA Rich

    The Tyler’s FS are also good looking. Make that 4 Liberties + 3 FS

    @ Hidalgo

    Although some of the FS coins are worth less now, they still have their gold content. Some where in the distant future, gold prices will rebound and they will be in the positive again.

  37. VA Rich says

    This time a year ago we were eyeing 5-6 new lows, I believe we ended the year with 6 (unaudited), nothing looking promising this year except the CRs which will likely dispel the low mintage = demand theory (again).

  38. VA Rich says

    Though the low mintage = demand theory seemed to hold for the MacArthur Unc surprisingly, which has maintained a nice premium for a series met with lukewarm fanfare by collectors, a perplexing 501c3 cause, & a less than appealing Douglas design (IMO). I’m comparison, I surely thought the BHOF
    $5 UNC would be knocking it out by now

  39. Jon in CT says

    An editorial commentary (A $4 Trillion Pile) on p. 55 of today’s Barron’s weekly led me to this funny page about cash and coins. The comics frame explaining why the Mint makes so many pennies is priceless.

  40. Clark says

    VaBob–My characterization of the JFK gold coin program as a “debacle” wasn’t meant to suggest that sales were a disaster; I was describing the ignominious ways the US Mint handled this offering and the permanent black eye the launch gave our hobby. I should have clarified my description. You are absolutely correct that relative sales are good.

  41. Clark says

    The actual populations of gold First Spouse coins minted since 2007 is an intriguing aspect of the series that we may never fully understand. During the first year of production well over 30,000 gold spouses were minted. In 2008, mintages dropped to between 10K and 12 K and generally declined thereafter. Because so many are rumored to have been destroyed, the actual number of these coins in existence may never be known .

    In monitoring prices and availability of this series since 2007, I’ve seen large numbers of the ’07 spouses sold at spot values and I also have been told by dealers at several coin shows that they routinely treat those some spouses as junk gold. It isn’t clear if this treatment extends beyond ’07 and ’08 gold spouse coins, but if these often reviled gold spouses have been destroyed in large numbers, time may prove that supplies of surviving coins could be lower than audited mintages, making them more difficult to find in years to come. Only time will tell, but it’s a point worth noting.

    It would be interesting to hear what other loyal collectors of this series and others think.

  42. Hidalgo says

    @VARich – I, for one, love the design on the MacArthur gold coin. I loved the coin so much, that I unintentionally bought a couple of the uncirculated versions of the coin (one of them being a PCGS MS70 First Strike version). Periodically I sell my extras when I run out of room, so in time, I’ll be selling most of them.

  43. gary says

    Clark… you are probably right. No doubt many of the earlier dated First Spouse coins were sold for junk bullion back when gold was $1,800 – $1,900 per ounce and offered an opportunity to get out of collecting the series. With the very small core of dedicated collectors, those higher mintage coins probably will not be missed by anyone.

  44. Clark says

    gary–A month or two ago, Jon posted a link to an APMEX sale of Washington – Garfield (2007-2011) set of gold spouse coins for $32K, which roughly priced each coin at spot prices. These were raw coins, likely in bullion condition. Other dealers also may be selling later year gold spouses at spot values and diminishing populations accordingly. My personal opinion is that unpopular raw (ungraded) gold spouses have been and remain susceptible to destruction for their gold content and that populations of gold spouse coins are much lower than most people believe them to be.

  45. Hawkster says

    Even if the Mint verified that populations of the gold first spouse coins are lower than believed, I don’t think this would set off a frenzied collector scramble to acquire them. In other words, collectors who never had an interest in this series are not likely to suddenly change their minds and feel the need to have these puppies.

  46. gary says

    @Clark… The example of the APMEX partial set of First Spouse coins selling for approx. bullion price does not surprise me. With the volume of metal that they buy at spot price they could cobble together a short set of the FS fairly easily I would surmise. As to the destruction of the coins that you suggest, there would be little benefit in the expense of melting them because they are .9999 fine gold after all and a convenient 1/2 oz. of gold for stacking purposes.

  47. jeff says

    Lets cancel this series. I can think of other more important people, events ,land marks, these coins are just a novelty like many say not worth more than spot unless graded. I would rather see a vice president commemorative coin but that’s me.

  48. RSF says

    When popularity for the FS series fell off in ’08- ’09 and the spot price for gold more than doubled, many, many thousands of the Washington, Adams, and Madison coins became gold bars. Some dealers saw the novelty of the Jefferson liberty, and fewer of them were melted. In the pit of the recession, many people had to, or were easily convinced to liquidate their early FS coins for a profit.
    In 2010 I was building a few liberty subsets for display and wanted them all to be in the smaller OGP capsules that the Mint used in ’07 for the Jefferson liberty. When asked, staff at a large local dealer brought out a box with hundreds of them and said I could have all I wanted. They were tired of prying them open. That was only one of the boxes, they said.

  49. Ikaika says

    @ RSF

    That is very true. Many FS were melted back then. We might never know how many coins from a particular spouse still exists.

  50. Bernie in FL says

    For those of you that still hate the First Spouse series. I could not be more over joyed. As one thing I have learned in my 45 years in Collecting Coins. Is more often never follow the crowd. Coins that have done better over the long run have been hated for years until the basic Collectors comes to the conclusion as we all eventually do. That “Rarity is Number One” in the Coin Numatistic Environment.

    All this First Spouse bantering of neglect is Music to my ears. Reminds me of Stocks that everyone Loves. They all go Down over the long run and the Stocks that no one follows eventually are Loved and Hoarded. The Same will happen with the First Spouse Series. The Majority of the Numatistic collectors could currently care less about these coins. But for those of us that Collect these, the reward with not be soon, nor in the near future. But eventually this series will be demanded by Collectors near and far for their rarity that demands attention and eventual acceptance.

    But then again, only time will tell. But for those of you that love the series. Stay the course and you will be eventually Well Rewarded! For how many times have we ALL looked back on coins we had a chance to buy at Current Value and just felt sick because we followed the crowd and neglected to buy what we knew were good valued, under minted, and under loved?

  51. CasualCollector says

    Hello,

    I had asked earlier in another thread about criteria that goes into labeling an official “Variation” for a coin. Well, I don’t know how else to describe a “Variation” I am seeing other than to call it the “Kennedy Fingerprint” Variation (not his actual fingerprint, just that there appears to be what looks like a fingerprint on some of the Philadelphia Kennedy Clad coins from the High Relief K14 Set).

    The first one I saw was on one of my graded SP69 ANACS coins, and I thought what a bummer the person who encased the coin got their fingerprint on the coin. But then something strange happened, I noticed a listing on eBay for the 2014-P Kennedy SP69 High Relief graded by NGC — and I saw what appeared as a “fingerprint” in the exact same spot as the “fingerprint” on my ANACS coin. I saved the NGC Image to look on my computer, and overlaid my print, and as forensic science goes, the prints were a match!

    OK, since then I see there are 2 more NGC 2014-P SP69 Kennedy High relief coins on eBay (2 separate listings are active right now if you want to see them, one is listed for $9,999.95 and the other is listed at $1,196) and they also have the “fingerprint” on them (same spot – upper right on the obverse around 1:00 – 2:00 o’clock). And I also saw the same print on another separate ANACS 2014-P SP69 Kennedy High Relief.

    So, what is this trange “Fingerprint” that appears to be indentical in markings and position on the coin? Can this be considered a “Variation”?

    Regards,
    CC

  52. cagcrisp says

    @Bernie in FL, ” Reminds me of Stocks that everyone Loves. They all go Down over the long run and the Stocks that no one follows eventually are Loved and Hoarded. ”

    I don’t Even no where to start on this statement.. Let’s just say I Strongly Disagree on so many levels.

  53. fmtransmitter says

    @Casual: Um, no, it’s a fingerprint done AFTER the coin was made so forensic wise, you are the owner of a coin with a print of a Mint employee…

  54. CasualCollector says

    @fmtransmitter

    Well, ok I can understand 2 maybe 3. But what are the odds it’s the SAME EXACT fingerprint on what I have seen on at least 7 different coins in the EXACT SAME PLACE and the EXACT SAME POSITION and EXACT SAME ORIENTATION on each coin? I guess it’s possible… he should be wearing gloves…

    And why do these grading companies (ANACS and NGC) still give them a grade of SP69 if they have a fingerprint on them — doesn’t that stop them from being “Uncirculated”?

  55. stephen m says

    @Jeff, Let’s not cancel this series. The mint will complete the production of the FS gold series. The mint may have their faults but won’t cancel these. I can’t afford them but I can’t see any reason to cancel the series.

  56. Pittsburgh P says

    Cag that does seem very odd – the same fingerprint in the same spot on several coins graded by different companies. I also don’t see how they graded 69 with a fingerprint on them but you’d assume if it was a variation of some sort the TPGs would have jumped on it to create a new “special” label.

    I have not seen the coins, are you sure they are fingerprints? Could it be something else – something on the die or another cause?

    Fmt… Forensic wise, you are the owner of a mint employee fingerprint coin.
    Um, Really? Is that your forensic theory or is it just a hypothesis lol

  57. Joseph says

    The next candidate for junk gold of the dealers, JACKIE KENNEDY gold coins. LOL
    Like I stated before ,Don’t BUY!

    Clark says
    OCTOBER 19, 2014 AT 12:49 PM

    The actual populations of gold First Spouse coins minted since 2007 is an intriguing aspect of the series that we may never fully understand. During the first year of production well over 30,000 gold spouses were minted. In 2008, mintages dropped to between 10K and 12 K and generally declined thereafter. Because so many are rumored to have been destroyed, the actual number of these coins in existence may never be known .

    In monitoring prices and availability of this series since 2007, I’ve seen large numbers of the ’07 spouses sold at spot values and I also have been told by dealers at several coin shows that they routinely treat those some spouses as junk gold. It isn’t clear if this treatment extends beyond ’07 and ’08 gold spouse coins, but if these often reviled gold spouses have been destroyed in large numbers, time may prove that supplies of surviving coins could be lower than audited mintages, making them more difficult to find in years to come. Only time will tell, but it’s a point worth noting.

    It would be interesting to hear what other loyal collectors of this series and others think.

  58. diga4 says

    First Spouse coin with a GREAT looking first lady!
    This will have appeal for the guy who doesn’t get any….

  59. Small time collector says

    I’ve been out enjoying another hobby far in the mountains away from electronic distractions.
    I hope the mint sells the heck out of this coin to ensure the memory of jacki-o lives on.
    re: the mints mission can be found on their “about” page:

    ” Mission – The primary mission of the United States Mint is to serve the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, and providing security over assets entrusted to us. ”

    Seems to me profiteers may have lost sight of this and lust for profits has clouded the definition of collectible ( worth collecting; of interest to a collector).
    While some collectibles are rare, it’s not a prerequisite. It’s enough that some time production of this coin will be ceased and at that point it becomes a limit.

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