Hello, Was wondering how to determine if a coin is a First Strike.. Do I have to open the box to do this, or can I just use the purchase receipt? I am new to coins and don't really see what the big deal is with the "First Strike". I noticed some of gold buffalos have a "F" mark below the date, what is this for? Any info would be appreciated, thanks!
Jase, first strike simply means that the coin was one of the early mintages. There is absolutely no way of knowing if your coin falls into the category of first strike unless you know when you ordered your coin. The quality of a first strike coin should not differ from a non "first strike" coin. The F is the initial of the designer of the coin fraser as noted below (I thought it was felix schlag, but he is the jefferson nickels)
It might be helpful zane if you clarified that the definition you are using for First Strike is the definition that grading companies use as a marketing tool - not the definition that the numismatic community or the US Mint uses. There is a huge difference between the two definitions. According to the grading companies a first strike is any of coins shipped in the first month of availability. According to the US Mint, and the rest of us, a first strike is the first coin struck with a new pair of dies.
Oops. I definitely should have clarified that, as I think some people think they are getting a coin struck with from a brand new die when they buy a coin certified by the TPG's as first strike.
Thx for the info, but I am still a little confused... So there is no way to determine if a coin is first strike (first month) by the package labeling or purchase receipt? Why is there an "F" mark on some gold buffalos and not on others? And just a few more questions.... If I am not going to send the coin in to be graded: would it be better to not even open the package? Will this increase its possible resell value "a little" or " alot"? That's it, no more questions (promise). Thanks.
Right---because the mint can mint a good many coins with one set of dies so the date it was minted really doesn't mean a thing. I don't know of any that doesn't have it.... Most collectors are buying the coin so the packing doesn't mean a thing....now if you are talking about the hard case that the coin is in then I wouldn't open that but if you mean the package that the coin came in from the mint with your name and address on it right from the mail man then I would for sure open it....you can't enjoy the coin without doing that. Speedy
The F is the initial of the designer Fraser. It is on all Buffalo nickels and Gold buffaloes. Always keep the receipt. If the coin was described by the mint as a First Strike there should be papers of authentication accompanying it. Clinker
According to the U.S. Mint website concerning the issue of "first strike" coins, there is no record or numbering system in place at the production level to tell if one coin was struck before the other. Any time I hear the claim of "first strike", whether it be from the television sales stations, whether or not it's packaging in the N.G.C. or P.S.G.S. or I.C.G. services, or any one else for that matter it makes my blood boil. There is no such thing, except if you're the guy working on the press at the U.S. Mint and you put the "first struck" coin in your pocket and take it home after work. They may be referring to a batch of coins struck on the first die, or the first ones to be packaged (by a seperate entity not necessarily in any sort of order). The whole concept is simply a marketing scheme to charge a premium for the item.
I'm in total agreement!! I’m paraphrasing Coin World. They are finding no differences in price between the first strike and other strikes.
Consumer Alert Us Mint Says Bogus 'first Strike' BEWARE EBAY'S 'FIRST STRIKE' BUFFALO COINS--DON'T PAY THE HIGHER PRICE--BOGUS CLAIMS SEE CONSUMER ALERT FROM US MINT BELOW "First Strike" http://www.usmint.gov/consumer/index...ction=HotItems The United States Mint has received inquiries from consumers regarding use of the term "first strike." The term has appeared in connection with the advertising and grading of 2005 and 2006 silver, gold, and platinum proof and bullion American Eagle Coins, and the new 2006 24-karat proof and bullion American Buffalo Gold Coins. Currently, there is no widely-accepted and standardized numismatic industry definition of "first strike." Coin dealers and grading services may use this term in varying ways. Some base its use on dates appearing on United States Mint product packaging or packing slips, or on the dates of product releases or ceremonial coin strike events. Consumers should carefully review the following information along with each dealer’s or grading service’s definition of "first strike" when considering a purchase of coins with this designation. The United States Mint has not designated any 2005 or 2006 American Eagle Coins or 2006 American Buffalo Coins as "first strikes," nor do we track the order in which we mint such coins during their production. The United States Mint held a launch ceremony for the 2006 American Buffalo Gold Coin on June 20, 2006, two days before its release on June 22, at which two proof coins and two uncirculated coins were ceremonially struck. However, those coins were not individually identified and were put in regular inventory after the ceremony. The United States Mint did not hold any striking ceremonies for the 2005 or 2006 American Eagle Coins. The United States Mint strives to produce coins of consistently high quality throughout the course of production. Our strict quality controls assure that coins of this caliber are produced from each die set throughout its useful life. Our manufacturing facilities use a die set as long as the quality of resulting coins meets United States Mint standards, and then replace the dies, continually changing sets throughout the production process. For bullion American Eagle and American Buffalo Coins, the United States Mint makes an average of about 6,000 coins from one die set. For proof versions of the 2006 American Buffalo Coins, the yield is an average of about 1,500 coins per die set. For proof versions of the American Eagle Coins, the yield is an average of about 300-500 coins per die set. This means that coins may be minted from new die sets at any point and at multiple times while production of a coin is ongoing, not just the first day or at the beginning of production. To put this in context, in 2005 the United States Mint produced approximately 356,500 one-ounce gold, 8,891,000 silver, and 6,300 one-ounce platinum American Eagle Bullion Coins. American Eagle and American Buffalo Coins are not individually numbered and the United States Mint does not keep track of the order or date of minting of individual bullion or proof coins. The United States Mint begins production several weeks before these coins are scheduled to be released. By the release dates for 2005 and 2006 bullion coins, the United States Mint had already minted approximately 50% of the projected sales numbers for these coins. Any dates on shipping boxes containing uncirculated bullion coins sent to Authorized Purchasers are strictly for quality control and accounting purposes at the United States Mint at West Point. The date on the box represents the date that the box was packed, verified as 500 ounces and sealed, and the date of packaging does not necessarily correlate with the date of manufacture. The date on shipping labels and packing slips for proof coins, which are sent directly to United States Mint customers from our fulfillment center, is the date the item was packed and shipped by the fulfillment center. The other numbers on the shipping label and packing slip are used to track the order and for quality control.
PS: ebay's administrators have been notified. ebay was provided the Consumer Alert from the US Mint. BUYERS BEWARE "first strike" dcam ucam pf70 are selling for up to $3,600. per coin. Outrageous! The mint is only issuing 300,000 buffalo at any rate. "first strike" coins shipped with 30 days of issue are in no way superior in quality to those shipped after.
