Once again I searched the threads and didn't see this topic in a Title (if I'm retreading on an old thread sorry). I see First Strike used often on ebay. Can someone explain to exactly what that means? If i purchased a 2006 gold buffalo is that considered first strike as its the first time this coin has been created in history OR are these some special certified coins that where the first to get minted by a new die (ie every die would produce one "first strike") and if so are these only given to dealers? OR does this mean something else all together? For ref: check out this coin going for approx 4-500% more than it's initial worth. http://cgi.ebay.com/2006-PCGS-PR-70-DCAM-50-1oz-24kt-Proof-Gold-Buffalo_W0QQitemZ150012821979QQihZ005QQcategoryZ3360QQrdZ1QQcmdZViewItem
You might try searching in US COIN FORUM---I think there was a thread about this topic that was a few pages long that might have the info you are looking for. Speedy
Hi twentyseven, and to CoinTalk. The short answer to your question is that giving a coin a "first strike" designation is nothing more than a marketing tool, designed to attract the kind of person who has to be first kid on the block with a new toy. As you so correctly point out, every die produces one (and only one) first strike, but that's not what is being marketed - for the very good reason that there is no way for even mint employees to identify the first piece, or the first several pieces, coming from the coin press after a die change. The advertising gimmick is to simply claim that a coin was "among" the first strikes of that particular combination of design/date/mint mark. Sad to say, some of the top third party graders go along with this gimmick, and will put a "first strike" designator on the first batch of a particular coin submitted for grading by a seller who will pay them a good price.
I dunno what first strike is...all I know is that I got a roll of 1st strike nickels in Febuary...the dealer said that only 5,000 1st strike rolls were minted I gotta say the reverse dies new for 2006 are VERY NICE
Your dealer is pulling legs---no one knows what coin is first struck or not....a coin can be struck on DEC 31st and be a first strike. Speedy
WOW. I wonder how the mint rolls? I know coins are minted but how do they mint a roll. Could this be something done by Wonder Bread? And 5,000 all at the same time to assure all are 1st.
Here's an interesting thread on the e-Bay forum.., http://forums.ebay.com/db1/thread.jspa?threadID=2000186985&tstart=0&mod=1153968810175
The Frist Strike is all NONSENSE. Coin World just did a great editorial about this. Regarding the Buffalo $50 gold, they are suppose to change the dies after 5,000 strikes, but how would anyybody know if you received coins minted during the first run of this process, or if you received 4,999th struck coin of the die's life, minted in the first 30 days? Unless a mint official takes that very first coin directly off line and labels it as strike #1, there is no way to know. For me, I could care less if my coin was minted during the 4th quarter of the year as long as it was made right after a die was changed. So how would you or I or anybody else know that? What the TPG's like PCGS and NGC did was sure B.S. PCGS started with jessica lynch signed slabs and then quickly went into this nonsense. Other TPG's figured, why not? People will buy them.
I think that IF there actually were such things as 'first strike' coins it would have to be something like the quaarters that are placed in the uncirculated, proof and silver sets that the mint produces and ships out, way before they are released to the public or any body else. Example is the set that has the North and South Dakota quarters has been released and these coins have already been minted. It would seem that these MIGHT be considered 'first strike' coins. That is as far as it goes. JMO
Hello, quick question... First day coin covers in britain... Am I right in believing that these are coins from the first day of minting? That would indeed make them 'first strikes'
Due to lawsuits over this scam, their new thing is "Early Releases" now, as opposed to "First Strike", for what it's worth.
saw some 2006 NGC buffalos that now have the "first year of Issue" on them. I guess they did not qualify for the famed "first stikes" thing ah ma gig. Lots to be said about the raw ungraded stuff for sure.
No, not really. All it means is that these coins were struck on the first day of production. But you need to realize, they can produce millions of coins in one day going thru many dies. And since the proper definition of a first strike is the first coin or coins (depending on how you wish to define it), struck by a new pair of dies, then millions of them would hardly qualify. But there would be a few, stress few, first strikes from among this group. Trouble is, you have no way of identifying which ones they are.
I am surprised the mint does not jump on the bandwagon and start putting aside (say the first 100) coins when they run a new die. They could label them and seal them and sell at a premium. I am sure collectors would pay more for them if they could be confident they were getting the real first struck coins. The mint is obviously catering to collectors - so why not.?.
