 already thinking about a master's degree. Alina Selyuk, NPR News. The Smithsonian's National Portrait Gallery has acquired the first known photograph of an American First Lady for more than $450,000. It's a daguerreotype, which is the word for an early form of photography. So cool, light is exposed to a chemically treated metal plate and makes an image. This one dates back to 1846, and the first lady in that photo was the wife of President James Madison.