Why Grade Bullion coins & 1st Strike???

I have never been one that has to have there billion graded.I buy rolls and keep them sealed
why is 1st strike so important for a billion coin.
I think it a waste of money unless it is Proof bullion,there minted in smaller numbers.
tell me what you think??

 

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By "First Strike" are you referring to the traditional term (first few coins struck by new dies) or the modern marketing term (coins of a new design that were struck before a certain date no matter whether they were among the first coins struck by new dies or coins struck by very worn dies)?

 

"First Strike" is something of a scam. Strike is what it is based on the appearance of each individual coin. I would never have a bullion coin graded, but I would buy a graded bullion coin if it is within a dollar or two of the price for the same coin ungraded.

 

Being that bullion coins such as ASEs are being collected as regular coins these days, I can see someone getting a near perfect (or perfect) example slabbed. I do agree with 'sweeper that "first strike" is for the most part a scam. If there was a huge difference between the first strike, and the second or tenth strike, it wouldn't even have to be mentioned on the slab. It is just another way for the televised shopping shows to have another gimmicky product to sell.

 

I concur with cloud and the rest that this is a marketing scam. That's all. There is no way an outside vendor can make the determination what coin is a first strike or a later strike. In this day and age, it really makes no difference as it did back in the 50's and before. First Stirke is something that major vendors are willing to pay NGC to provide and NGC, sluts that they are, are willing to take the money.

peace,

rono

 

i think grading bullion and paying a crazy premium is stupid but thats jut my opinion

 

I agree buying bullion coins at a premium makes no sense, who cares if it,s high grade
Or not what it is is what it is!

 

Bullion is just that, bullion. It makes no sense to pay a premium for bullion. But one thing I have learned is there are lots of people out there with no sense at all.

 

I say let the people pay premiums. I'll pay a couple bucks over melt for an ASE with a few scratches or dings in it. It still weighs the same as the $200 slabbed version.

 

Wow! I could NOT have said this any better! Only to add that the ASE, AGE, and APE programs produce coins at a minimum grade of MS-67. I reckon that a large majority of these coins, if handled properly, will grade MS-69. There are millions of them in this high-end condition and therefore I doubt that they are worth any premium now nor will they ever be. Slabbed or not.

 

No sense and money to throw away.

 

Anyone can collect what ever they so desire to collect and elect to pay whatever they deem it worth to obtain those things.

Collecting in general can be perceived as illogical human behavior. Collectors can be deemed irrational in their decision making. Collectors who pay a premium for any material object can be looked down on it by others for their decisions. It matters not what the thing in question is. The reasons why people collect and pay what they are willing to pay for things can be viewed and debated as senseless by one camp until they're blue in the face. Such repetitive threads stand as a testament to this.

That one collector turns their focus on collecting objects which others use to invest in but value no higher than its marketplace value today doesn't make it wrong for the collector to pay what they see it is worth to them.

That others calling themselves collectors agree to buy something of the exact same material specifications for a premium but for its finish, a proof version, while simultaneously putting down other collectors who buy another versions for a premium, the bullion version, are simply creating flaccid superficial reasoning to justify their actions above those of others.

It doesn't make an ounce of sense to pay a premium for a proof version of the exact same material specification coins, a bullion ASE and a proof ASE, as they are after all, just bullion.

 

Some say the same about coin collectors. Go figure!

 

Very true! The guys at work looked at me like I was nuts when I told them what I paid for the '09 Lincoln commem with a $1 face value.

 

I have to say that I disagree with all who say that bullion is just bullion and condition doesn't matter. Condition always matters and the MS69-70 coins of today might [just might] be the hot collectible of the future. I see ASEs tossed around and scratched up. Over the coming years, many if not most may be melted. High grade bullion can be obtained for little to no premium at this time. Someday, that probably won't be the case. A few years ago, I purchased several ASEs graded MS64-65 for a discount to bullion value, probably because they graded so low. Go figure. I would never submit a bullion coin to be slabbed, but I sure would buy one if the price is close to the same price as bullion for an MS69 coin.

 

The only "FirstStrike®" slabs I own are from PCGS, and in fact U.S. trademark 78406455 for the Word Mark "First Strike" is registered to Collector's Universe, Inc. I didn't pay anything extra for them.

Having Bullion slabbed is a straightforward arbitrage play between the bullion market and the collector's market. The person paying for the slabbing is betting that the collectors will pay enough extra for a "certified" piece to make slabbing profitable. But then again, many bullion coins are designed, minted, and marketed in an attempt to "win" the same bet.

 

I know people who buy slabbed bullion coins because they feel that they have some kind of "certificate" of authenticity...

 

I feel the same way, but do you think the price graded ASEs are going for on TV can be justified?

 

I would say, at best they have a nice, protective holder at a not so nice price.

 

I don't buy coins from TV shows, and I don't know what they are charging.