Buying the coin or the label?

Got an email offer I found funny enough to share; great example of buying the label/holder instead of buying the coin --

Identical 2020 ASE, both graded MS69 by PCGS, priced $31 apart because of a different label...?




I'll admit, I was interested in owning one of the "emergency" issues (feel like that needs an extra set of quotes), but I feel this markup is ridiculous; way overpriced.



I know this is just one dealer, but I've seen this price gouge across several other sites as well.

 

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There's nothing new about paying extra for a label. Distinction without a difference. I just refer to it as an active field of exonumia.

 

I won't comment on what the prices should be, but no those are two different coins. One was minted in West Point one was minted at Philly

 

Personally I find the label with the higher price ridiculous. I know there are those who would argue but please don't.

 

I can't argue that fact; technically you're right.

Some what related - I'd read somewhere that back in '65-'67 to make up for the shortage of circulating coins, West Point struck millions of Washington quarters -- without any mintmark or indication of being different from Philadelphia coins.

Yall are right too; not trying to argue it. Just pointing out the price delta. Ultimately, if there's demand and folks are buying these coins for $x, then they're worth exactly $x. We arbitrarily assign value to these objects based on our desire to own them and the (sometimes) limited quantity of them.

 

That's exactly it. Many of us don't see the value of these but enough people do to pay a premium. If they are selling for $50-$70, then that is the current market value.

In 2015 a similar Eagle was released (also from Philly and also only distinguished by the monster box label). I just checked on eBay and those are selling at $290-$400 for PCGS/NGC MS 69 (although the mintage was lower at 79,640).

 

So if you crack'em out, put'em in flips, fill out the form specifying the correct mint for each, and send'em for grading, ... how's it gonna be handled? Think you'll get back one holder that says West Point and one that says Philadelphia on it? Just askin'.

Cal

 

Basically the same as the 2000 Cheerios cent, no?

 

They'll both come back as regular 2020-(W). The only way to get that special label is for ASE bullion shipped directly from US mint to PCGS by 3rd party vendors and dealers. From what I understand, PCGS was able to confirm where the coins were minted based on the actual date they were minted and the shipping labels used by the Mint.

 

Question? Which is more important, the coin, or the label? To me, it seems like fundraising by TPGs to have the “first strike”, or “first day of issue,” or “early release” labels. Even sillier, is the fact that coins with that designation, that are exactly the same date, condition, mint, and appearance sell for different amounts is ludicrous. It is like trying to create a variety of the coin that does not exist.

 

I see it as "to each their own." Some folks like the ancient coins; some like type coins; some gold; others specific TPGs. Other folks like stamps; etc.

I'm a big fan of late 19th/early 20th century stuff where 'first strike' doesn't really exist. But I've also picked up a few 2019-W and 2020-W quarters which are labeled "First week of discovery" or "Early find."

Yes - you're right. But it clearly sounds like there's a market of people hunting specifically those special labels and pedigrees.

 

I did not mean you would argue but there are those that will.

 

There have been instances where west point did make some circulation coins and if we could figure out which ones they'd have more worth than normal.

I believe they'd actually just have the date as mint's aren't assumed when there are multiple ones

 

One word: Bullion.

Today price of 1 oz of Silver is $17.88.

These are minted in the millions. Think about it. If you like it buy it, but be aware unless you have a matching set of plastic labels for the entire series, no real premium for just a one year label. IMO. And those that do have a matching set will never need to buy yours in the future because they already have theirs.

 

Sometimes the label is worth paying a premium for.

 

West Point didn't start striking coins until 1975. They did cents from 1975 to 1986 and quarters 1976 to 1979. San Francisco also struck cents without a mintmark from 1978 to 1983.

 

I will say with older coins I like trying to find a graded coin when I am buying on line . Internet photos often hide things so I prefer finding coins that look as attractive as I can see that are graded so I know I have less likelihood of getting a cleaned or altered coin . If I am buying online ungraded it has to have return privileges . Newer coins I don't care as much what the label says .

 

That is an unusual case of special labels. I think we are talking about the “first strike,” or “first day of mintage” labels. Yours is a legitimate variety.

 

While I appreciate the ground zero coins and the history, to claim they are a legitimate variety and dismiss the P W S mint ASEs just isnt correct.

 

Says, who? If they were minted with different source metals, I would call that a variety.