Liquid crystalline copolyesters were melt-synthesized from low cost materials ($ ho$-acetoxy-benzoic acid (ABA), diacetoxy biphenyl (DABP), isophthalic acid (IA), and terephthalic acid (TA)). The synthesis was continued under vacuum to increase molecular weight. The transition temperature was decreased by partially substituting IA for TA monomer and the transition temperature of 60/40 IA/TA was 301 $^{circ}C$. Fibers were melt spun on a laboratory fiber spinning apparatus. The processing temperatures were 310 $^{circ}C$ for 75/25 IA/TA. 320 $^{circ}C$ for 60/40 IA/TA, and 335 $^{circ}C$ for 50/50 IA/TA, respectively. The tensile strength of the 60/40 IA/TA copolyester fiber was half of that of commercialized HBA/6-hydroxy-2-naphthoic acid (HNA) copolyester fiber. Moderate strength copolyester fibers were produced by stepwise annealing near the crystal-liquid crystal transition temperature under minimal stretching (below 0.1 % elongation).