First Spouse Gold Coins - Honoring The Nation's
First Lady
First Spouse coins have become popular recently because over 60% of the gold bullion market is concerned with buying 24-karat gold coins. Although the United States has been producing gold coins since 1986 - the American Gold Eagle, they were only 22-karat, and most collectors were choosing the 24-karat Canadian Maple Leaf instead.
In 2005, an Act of Congress was passed that instituted the Presidential $1 program. While the United States had issued dollar coins in the past they have not been popular. Attempting to recreate the success of the State quarter program, it was decided to give the Presidents a try.
In this same act, the First Spouses $10 gold coin program was also instituted (as well a program for a new Gold Buffalo $50 gold coin). Each of these coins is produced in 24-karat gold and .9999 percent pure. The first spouse coins were unveiled by the United States Mint on June 19, 2007.
The First Spouse Coins
The wife of the American president has been known as the First Lady since 1849, when United States President Zachary Taylor referred to Dolley Madison by this time at her state funeral. (He had written her eulogy himself.) Since a woman can also become a President of the United States, her husband would then be called the First Spouse as well. The government, therefore, decided to make the program non-gender specific.
One of the interesting things about the First Spouse coins is that they are to be released concurrently with the $1 Presidential coins. However, it is also an act of law that no living person can be placed on American coinage, so no future presidents or first spouses will receive a coin until two years after they have passed away.
The obverse of the First Spouse coin features a portrait of the spouse, their name, the dates and orders of the terms they served, as well as the normal verbiage - mint mark, year of issuance, IN GOD WE TRUST on the left side of the portrait and LIBERTY on the right side.
On the reverse will be another portrait, full figure, "emblematic of that spouse’s life and work" as well as the words THE UNITED STATES OF AMERICA, E PLURIBUS UNUM, $10, 1/2 oz.," and .9999 FINE GOLD.
A few of the presidents did not have spouses. Thomas Jefferson's wife Martha had died 19 years before he became President. The coin issued bears the image of Lady Liberty as depicted on a circulating coin of that era – in this case the Draped Bust Half-Cent coin (1800–1808), and was originally executed by United States Mint Chief Engraver Robert Scot. The reverse bears the image of Jefferson's tombstone, with verbiage of what he accomplished during his presidency.
Andrew Jackson's wife, Rachel, died just a few months before he became President. His Liberty appeared on the Capped Bust, Lettered Edge Half-Dollar coin (1807–1836) - featuring Liberty in a liberty cap, and was originally executed by United States Mint Engraver John Reich. Martin Van Buren's wife Hannah died 18 years before he became president. His liberty is from the Liberty Seated Dime coin (1837–1891), and was originally executed by United States Mint Engraver Christian Gobrecht.
James Buchanan never married, his Liberty has not been designated yet. Chester Buchanan's wife died before he became President. In this case, the Act specifically states that suffragette Alice Paul will be honored on this coin.
As with all of their gold coins, the United States Mints allows dealers to sell these bullion coins. The Mint only sells the proof versions of these coins. To date, eight of these coins have been released. Next on the tapis are Anna Harrison, and two different versions of the coin matching President John Tyler, as his first wife died while in office and he remarried. Both First Ladies will be honored.