The United States Mint’s $10 gold coin program honoring the First Wives of the United States is set to release the first issues this year in early fall.
The gold coins measure one half ounce of .9999 fine gold and are technically legal tender, meaning it could be used for every day purchases. However since the face value of the coin is $10 and the price of an ounce of gold, as of this writing, is over $1,300 it is assumed it will be utilized by collectors and those who buy gold coins rather than those looking for spending money.
The First Spouse Gold Coin series began in 2007 with the images of the first ladies from Martha Washington through Frances Cleveland. The program was originally created with the idea of minting a maximum of 40,000 coins per release but has been scaled down in 2010 to 5,000 per release.
The latest “first lady” gold coins for minting this year are to include Ida McKinley, Edith Roosevelt, Helen Taft, and both of Woodrow Wilson’s two wives, Ellen Wilson and Edith Wilson.
Each coin has on its obverse (front) a portrait of the First Lady, as well as her name, inscribed on the coin and the order and years of her service as First Lady, as well as the words “IN GOD WE TRUST” and “LIBERTY.”
The reverse (back) depicts something representative of their life and work. They are offered in collector proof and uncirculated versions with the inscriptions “UNITED STATES of AMERICA,” “E PLURIBUS UNUM,” “$10, 1/2 OZ.” and “.9999 FINE GOLD.”
To compliment the $10 gold First Lady coins, the U.S. Mint is releasing on the same schedule the corresponding Presidential $1 program which honors past Presidents, but unlike the First Spouse coins which are struck in 24 karat gold, the $1 Presidential coins have the appearance of gold but are composed of 88.5% Copper, 6% Zinc, 3.5% Manganese and 2% Nickel, which are not so good for those who want to buy gold coins.
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Chief Market Analyst, ITM Trading