The Hidden Long Term Value

The true value of the First Spouse program will become apparent gradually over time as political clout of American women grows.

I make my living studying political and social trends. When the FS program was announced, Hillary Clinton still had a decent shot at becoming the first female president. This introduced the prospect of 'his and hers' Clinton presidential and FS coins...with the added bonus of the first male first spouse coin. I'm not arguing that the FS program was launched just for the Clintons, but the political and numismatic possibilities of the duo had to be somewhere in the swirl at the time.

Thankfully, Hillary didn't make the final cut, but she did pave the way for capable women to win larger prizes after a stint as first lady.

As female political clout continues to grow in Congress, states and the private sector, which is absolutely happening, so too will support for continuing the FS program. I can't fathom people like Michelle Obama, Hillary, their spouses and supporters allowing Congress to discontinue the program without an ugly fight. The political symbolism of eliminating a golden tribute to every first lady in American history won't fly.

More important, as future first ladies and other women ascend to higher offices, it's reasonable to envision increased market demand from a growing base of female collectors of FS coins. By then, acquiring complete collections will be an even more expensive proposition than it is today, but the historical value of the series will have taken hold.

Although I agree with many of you that designs for most of the FS coins minted to date have been just awful, as the series increases in popularity and historical importance, I have to believe the US Mint will finally get serious about improving FS design quality. (It can't make modern icons like Jackie O or Nancy Reagan look like comic strip characters.)

In the meantime, I've built and will sustain a complete set of unc and proof FS coins at grades MS/PF 70 and will patiently enjoy watching this often emotionally charged and controversial series evolve.

EJL

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