First Spouse Meltdown
by Joseph Bakes
Elizabeth Monroe, wife
of President James Monroe, is on the new
Spouse Coin. With the price of gold approaching
$1,000 an ounce, the temptation increases to
sell gold coins to be melted down.
Coin World reports this week that thousands of
the first three
First Spouse gold coins, which
sold out quickly last year when they were
offered by the U.S. Mint, have been melted down
by a private concern. Gold was hovering at just
over $600 an ounce when those half-ounce coins
were sold for between $410.95 and $429.95.
Collectors who are holding the coins may be
calculating whether to cash in on the gold value
while it is high or to hold on to their stashes
in the hope that the value of the remaining
coins will increase due to their rarity.
The mint also has suspended sales on some
platinum coins due to a spike in the cost of the
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