I'm so glad that PCGS finally recognizes the Presidential error dollars now, especially the John Adams!pCGS claims on their site that they recognize them now is because of such high demand, rarity, and low mintages(excluding the George Washington MEL Dollars).it was just a matter of time till the return. Now all kneed to do is talk that seller on eBay to sell me his John Adams MEL PCGS MS66 for $500 instead of over $3,000! Lol jk that won't happen, no, but I will search for a high grade one.
what grade are you looking for? I know of a few laying around in places. I didnt realize PCGS didnt slab these, I was using NGC on them.
Yes they did slab until I think they stopped a year ago , but there was in that years time and even more high demand now, umm I know a pcgs ms66 would be darn near impossible so I would like to get a John Adams Missing Edg Lettering pcgs ms65, the next best before I cannot afford one,heck I might not be able to afford one now! Let me know,thanks!
IMO, the John Adams MEL coin is much more rare than its current prices indicate. Less than 1400 have been graded by PCGS across all graded from AU58 to MS66. First Day of Issue slabs are even rarer with only 250 graded. NGC Populations could be quite different but then their grading standards are a bit looser than PCGS.
Correct me if I'm wrong, but I heard in the $7,000 to $10,000 range for the JOHN ADAMS MISSING EDGE LETTERING PCGS MS66!??
1st you need a buyer that what to pay 1-5K. but this should help. http://www.pcgs.com/PRICES/PriceGuideDetail.aspx?MS=1&PR=1&SP=1&c=1650&title=Presidential+Dollars
On the PCGS site listed above by jello, I noticed that the coins are designated as plain, position 1, position 2, PDI pos. 1, PDI pos. 2, Postition A, Position B, FS and SF. Can anyone tell me the significance of these designations?
Well I think instead of PDI you mean FDI which is supposed to stand for "First Day Issue". FS stands for "First Strike". The SF is for "Satin Finish". I got this from the same page just scrolled further down From my understanding the FDI & FS labeling was really just a marketing gimmick because you really could not know for sure when the coins were struck/issued. At least that's what I've read in some of the forums here As for the Satin Finish that wasn't unique condition as far as I know so not sure why they're bringing attention to that factor.
FDI = First Day of Issue. Coins can only receive this label if they were submitted on or before their official issue date. The alternative would be to submit a sealed $1,000 box that has an official government seal stating "Do Not Open Before (the issue date)" Position x = Orientation of the Edge Lettering where x equals: A if the Edge Lettering is right side up when the Statue of Liberty is Face Up. B if the Edge Lettering is right side up when the President is Face Up. Populations for John Adams Missing Edge Lettering Regular Slabs is: AU58 - 1 MS62 - 8 MS63 - 82 MS64 - 714 MS65 - 462 MS66 - 68 . Total - 1335 Populations John Adams Missing Edge Lettering FDI Slabs is: MS64 - 178 MS65 - 70 MS66 - 2 . Total - 250 Yes, FDI Labels are a marketing gimmick designed to increase interest and submissions, limited by specific submission criteria, BUT, just like their First Strike™ counterparts, they receive higher premiums than standard slab labels. An MS64 Missing Edge Lettering FDI Slab will cost you much more than a Missing Edge Lettering Standard Slab simply because there are fewer of them available. The coins are numismatically identical as its the slab which you would be paying for. With only 2 FDI MEL coins graded by PCGS in MS66, I expect that each of these could cost mid 4 figure sums. First Day of Issue by PCGS used to be open to every Authorized Dealer AND Collectors Club member. Coins had to be submitted in lots of 100 or more through the Bulk Submission Program. On July 1st of 2008, PCGS restricted that program to PCGS Authorized Dealers ONLY and to this day, ONLY PCGS Authorized Dealers can submit Presidential Dollars via the Bulk Submission Program. The net result has been a significant drop in submissions and a significant drop in interest since us peons no longer had the opportunity to get our own high grade coins. I was PO'ed and still am regarding this decision.
There are also different fonts used on the edge of the Adams dollars. There is another thread (old) here on CT where there is some detailed information about these dollars if you care to do a search and find it.
Correct me if I'm wrong,but don't you need that FDI paper sent in with your coin for proof, the one that comes in the box??Personally, I think the buying and selling,soaring prices will come from the regulars,just by the numbers, the regulars are a tad bit easier to obtain. IMO
My understanding is that they had a cut off date for submissions, had nothing to do with when the coin was actually struck. If you were one of the first in line to submit you could get the FDI sticker (IMO worthless) all a marketing gimmick. The coin in the slab could of been the 10 millionth struck for all they know or care. I think two months ago I sold one of these (FDI by PCGS) at the local club auction for next to nothing. (Adams)
Yes you are wrong with reference to First Day of Issue but correct if you are referring to First Strike™ as the two are completely different. First Strike™ used to ONLY be offered for "bullion" products and the criteria was that the piece had to have been submitted "within" 30 days from it official release date along with an additional "First Strike™" fee. That fee used to be $10 per coin but now its $14 per coin. (Bullion) When the 4 coin Presidential Proof Sets were released, PCGS, in an attempt to generate interest in the coins, included these in the First Strike™ program. For First Day of Issue, the coins had to have been submitted on (or before) the date they were officially released by the US Mint. They had to be submitted through the Bulk Submission Program (100 or more coins), they had to be in rolls (either bank rolls or coin tubes), you had to specify First Day of Issue on the Submission form AND you were required to specify a minimum acceptable grade. The minimum "acceptable" minimum grade was MS66. (In other words, you couldn't specify MS67 or MS68 as a "minimum acceptable grade") Typical submission cost (from my experience) ranged from $327.20 to $1607.35 as PCGS charged the submitter according to the following scale: Coins not meeting minimum grade = $2.00 (Later Raised to $3.00) Coins grading MS66 = $10.00 (Later Raised to $12.00 then lowered to $10.00) Coins Grading MS67 = $20.00 (Later Raised to $30.00 then lowered to $20.00) Coins grading MS68 = $40.00 First Strike™ did not REUIRE Bulk Submissions. As a side note, PCGS has extended the First Strike™ program to include ALL proof coins which IMO, totally weakens the label. As a First Strike™ collector myself, these just don't seem right. (Photos above were sent to me in an email by Elite Numismatics)
PR69DCAM Presidential Dollars in a First Strike™ slab are a dime a dozen. The real money comes from the PR70DCAM First Strike™ coins although even those do not have a sustaining value.
instead of first strike it should be first date because it has nothing to do with strike, it could be the 10,000 strike on a set of dies.
At this point everything is looking VERY positive for the regular missing edge lettering error coins, especially in higher grades, be interesting to see future prices they way things are going right now with such high demand(Reg.MEL)
Absolutely no informed numismatists will debate that argument since it is spot on. The First Strike™ labels are nothing more than a subset of a collection offering something thats not quite as common as your typical slab. Some First Strike™ Silver Eagle Slabs are much rarer than their non-First Strike™ counterparts and those that collect First Strike™ slabbed SAE's are willing to pay the premium.
