The United States Mint will release a gold coin in honor of Sarah Polk at 12 noon Eastern Time (ET) on September 3, 2009. The one-half ounce 24-karat Sarah Polk First Spouse Gold Coin will be available in proof and uncirculated versions.

Both the obverse (heads side) and the reverse (tails) of the Sarah Polk First Spouse Gold Coin were designed and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill. The coin’s obverse features her portrait and the inscriptions SARAH POLK, 1845-1849, IN GOD WE TRUST, LIBERTY and 2009. The coin’s reverse depicts her working in the White House in support of her husband’s career. Inscriptions on the reverse are UNITED STATES OF AMERICA, E PLURIBUS UNUM, $10, ½ OZ. and .9999 FINE GOLD.

Mintage for the Sarah Polk First Spouse Gold Coin is limited to 40,000 units across both the proof and uncirculated product options. Customer demand will determine the ratio of coins produced. Orders will be limited to 10 coins per product option per household for the first week of sales. The United States Mint will reevaluate this limit following the initial sales period and either extend, adjust or eliminate it.

Bronze medals bearing the likeness of the designs featured on the gold coin also will be available for $3.50 each. There is no mintage or order limit for these bronze medals. Collectors may purchase the Sarah Polk First Spouse Gold Coin and Medal at the United States Mint’s secure Web site, http://www.usmint.gov, or by calling 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may call 1-888-321-MINT (6468). A shipping and handling fee of $4.95 will be applied to all domestic orders.

Sarah Childress Polk received an education traditionally available only to the most privileged young women of her time, which made her especially fitted to assist a husband with a political career. She devoted her married life to husband James K. Polk’s political career, organizing his campaigns, writing speeches, handling his correspondence, and developing a network of valuable political friendships. Skilled in tactful conversation, Mrs. Polk enjoyed wide popularity and deep respect. She instituted many changes at the White House, including its refurbishment and the installation of gas lighting.
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Part One of a Three Part Series on the state of the Rare Coin Market. by Greg Reynolds

In early August, while attending the recent ANA Convention in Los Angeles, I spent considerable time interviewing dealers and checking out coins that were being offered. Coin markets are very healthy in that there are plenty of buyers for scarce and rare coins at the current price levels, and there were a substantial number of serious collectors buying at the Convention or being represented by dealers. Certainly, collectors are more active now than they were in March or April, or even in June. Quite a few dealers and collector-sellers refuse to sell many of their coins at the current levels.

Some categories of rare coins have maintained their values or fallen only slightly over the past year; other categories have fallen 20% to 45%. My impression is that markets for scarce and rare U.S. coins, on average, are down 18% to 25% over the last twelve months, though many great coins have held their value.

There has always been a gap between the prices for coins that are mid range to high end for their respective PCGS or NGC assigned grades and those that are low end or have substantial negative characteristics. As is analyzed in my companion article, the price gap between the high end and low end for coins of the same type, certified grade and date (or equivalent date) has widened over the past twelve months and was especially evident in trading at the ANA Convention.

John Feigenbaum, president of David Lawrence Rare Coins, declares that, at the ANA Convention, he “found the market to be a lot more vibrant than expected with many of [his] contemporaries ready to do deals. The key remains that one has to price coins at current market prices, which are generally down from six months ago. But the difference between [the ANA Convention] and say the Central States show was that people were looking to do business. The last nine months have been lethargic at the wholesale level.”
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