I searched, but did not find anything on this. I have been seeing the "first stike" monicker on PCGS silver eagles, and from what I can find, it is a relatively new program. When did they start labeling pre Jan-31 coins as "first strike". Here is an "old friend" touting one from 1994. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=39488&item=3971224376&rd=1 Were they doing the "first strikes" back in 1994? I have never seen the PCGS label on one until they recently started showing up on Ebay. Also, other than a high MS, will there be any benefit to "first strike" silver eagles?
They seem to me to be designed for Ebay. I do want to get some high mint state silver eagles, but that is normal for me. I bought a roll that was minted in october 2004, so I have some "first strike" quality. I read where it is a new program, but bluemoon had that one ebay from 1994. Notice the bid history on that; went from $531 to $1250. To me, that reaks to high heaven. If they have a higher value, I would consider it, but I wouldn't pay hundreds of dollars for one. From what I have read about the "first strke" coins, basically everything that is minted before Jan 31 can be called first strike. So I don't think there will be a big shortage of them. I would think "first strike" would be more for just the first coin, or maybe even the first day. But until Jan 31, that is a lot of coins. But then, it does make them a little more rare since only a certain percentage are minted before Jan 31. If it is new, I predict it will fall on its face and PCGS will stop it after mucho criticism.
This first strike nonsense is just that - nonsense. It is nothing but a bunch of hype and a cheap, underhanded and decptive advertising scheme to convince collectors that don't know any better to buy these coins and pay outrageous prices for them. The definition of a first strike is a coin that is struck with a new pair of dies. But the way the minting process works, the dies are changed several times a day for every day that the coins are being minted. So you can have a first strike July just as easily as you can in Dec. ( yes they start minting the new coins the year before ) or Jan. It's rediculous to label these coins as first strikes as many of them are actually LAST STRIKES ! Don't buy into it.
How long has PCGS been doing this? I wouldn't pay more for a "first strike" than any other PCGS MS-69..... But I bet they get a premium on ebay.
ridiculous, lotsa people on Ebay on cheap drugs #1, and many are fools for over paying for anything & everything#2--shills are often involved hoping to suck in some poor sap, and there r plenty of those, then there r idiots with lotsa money and no brains--- Many don't even do any basic research on what the hell they are buying, are overpaying big time will have a super rude awakening when they try to sell thier ms69 1994 SAE, or any other dum purchase they have made--- In the end, only the true collector will get screwed--
Actually Cisco, if they try and sell it on ebay, they will probably find someone else willing. In this case, PCGS is a party to the whole mess. Which who knows, it may be a way to make some Silver Eagles seem "more rare" and at some point may be beneficial to whomever had them labelled as a first strike. So is the 1994 "First Strike" in the link above a fraud? Not just an ebay scam, but a complete fraud because PCGS was not doing "First Strikes" in 1994. The price that poor bidder paid should make it grand larceny or at the least maill fraud if shipped via USPS. If PCGS was not doing it in 1994, Blue Moon auctioned a fraud and Ebay should be notified. I couldn't find any information about the "First Strike Program", or when it started, at the PCGS website.
I've been waiting to acquire a 2005 ASE in PR69-DCAM to add to my collection. But I'll keep waiting (for the 2nd, 3rd or 4th strilkes) before I pay the premium they are getting for the 1st strike load of bull.
I totally agree with you mitchell!!--It is a PCGS scam--Thats why I am no longer a member of their services. They tend to under grade everything, and their items are way over priced--It is an enviable position to be in and one I am sure PCGS will want to keep. I however will not feed their scam machine. I am no longer and will NEVER send any more coins to them for certification. They have lost all trust I had with them couple years ago, and this new scam from them is final nail in their coffin with me. Like they really needed this, how come these new labels have "suddenly" appear?? How do we know that THAT 1994 SAE IS a first strike?? Because of a PCGS label?? come on gimme a break!! They have labeled "other" items that they have made mistakes on, like some pedigrees for Ex: then they ran under a rock when they removed this "label", this attribute--it took months to correct, under pressure they finally relented and made a "secret" deal with dealer that was screwed--that is all I'll say bout PCGS---grrrrr ---grrrrr
The First Strike designation was given to all 2005 ASE submitted in January. It was not based on strike characteristics or box number or date on boxes. First in, First Strike. I dont know about other years.
The First Strike program began Jan 1st of this year. That 1994 most be a reguler submission that got put into a First Strike label by mistake.
Could the seller in the link above resubmit a coin that PCGS certified in Jan of 1994, and request the "First Strike" label?
No, because there would be no way for the submitter to know that their coin had been submitted in Jan of 1994. You can't tell by the serial number and the label style in use in Jan of 1994 was used for that entire year. In order to know that it had been labbed in Jan of 94 they would have had to have been the ones who submited it and then held it for the past 11 years. Then they would have to bring it to PCGS's attention when they submitted it for the First Strike designation. You can't ask PCGS because they will not tell you when a particular slab was produced. Even if you did tell them, I still doubt that they would do it.
I am frankly disappointed with PCGS and this First Strike nonsense. Something to consider...if you get the 10,000th strike in the first month of production, does it mean it will be better than strike #1 in the second month of production? I had alot of respect for PCGS...but between the Jessica Lynch signed slabs to this First Strike marketing gimmic...it is all hype at the expense of collectors.
Not knowing PCGS's actual "rules" for first strike, I say this hesitantly. But if all that is required is a sealed box of SAE's with an enclosed packaging slip dated within a specified time frame, to be opened in the presense of a PCGS rep, blah blah blah. It would be possilbe for "pre first strike program" SAE's to be slabbed. That being said, I have to agree the the first strike program is a bunch of...ummm how to put this so that it conforms with forum rules........
