Use of "First Strike" describing u.s. coins.

I just purchased a mint set which I needed on ebay for $15.05+ shipping.
The seller used the words "FIRST STRIKE" in his description. This didn't influence me one bit but irked me because the mint has no "FRIST STRIKE" program and/or process which exactly keeps track of which coin/s are the first strike coin/s. Sent the seller a message asking him why he used this term. He said some refer to this term because that is what they are when they went on sale on the first day. NOT, NOT, NOT. I informed him that this was misleading and suggested "FIRST DAY ISSUE" would be more appropriate. OPIONS PLEASE.:loud:

 

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the first coins are the most frosty though right.... fresh dies or something? Assuming they are sent out in order that is

 

A number of years ago, certain grading companies began using the "first strike" designation on some modern coins, even though the designation had little, if anything to do with when the coins were actually struck. In essence, they took a long standing numismatic term ("first strike") and, in misleading fashion, changed it's meaning, for marketing purposes.

Personally, I think it was a terrible thing to do. I have spoken out publicly on that subject on a number of occasions, and was booted from the PCGS forums about 3 years ago, as a result.

 

Sheeesh, sort of an extreme reaction to an informed opinion, you might have struck someones last nerve.

See here that is a problem with some marketting fads, it ropes in some people who take it on faith, and when the fad fades they are often disillusioned and then might quit the hobby, thinking what a bunch of ripoffs and con men.

 

Wasn't there some legal issue with the "First Strike" title and one of the companies had to stop using it? I remember people paying crazy premiums for coins with this designation when it meant absolutely nothing.

 

I think that NGC and PCGS were both sued and that NGC settled, but that PCGS did not. I am not certain of that, however.

 

Changing the meaning or the name of a term is just crazy.
It creates confusion with both the new and the old to the hobby.
From a business standpoint, they make money from creating that confusion.

 

If you really think about it there can only be ONE FIRST STRIKE coin. After that the next one is a second strike, then third, etc. Also, this would mean the Mint would have to actually have to make only ONE coin for the first time to make it the first strike coin. Now imagine the Mint stopping everthing to make sure that no other coin gets mixed up with that FIRST STRIK coin. Ever wonder why there are so many FIRST STRIKE coins out there if that were true? About the same realistic statement as UNSEARCHED COINS on ebay.
I've always said why worry about the first strike anyway. If the mint makes zillions of those coins, a first one is just one of zillions. NOW it's the last strike that is important for now you may know that there are only a few thousand or even less made. So a last strike is more important.

 

Also, FIRST STRIKE can only be used on graded coins. So, it is silly to say that they are FIRST STRIKE. and as stated previously they MIGHT have been some of the first issued. It is just a term to help sell. I will buy stuff knowing that it was represented incorrectly. For example I bought a Common Date Walker 1942 I think and the description said MS 1942 Original Omaha Bank Hoard. Well the picture was of a maybe VG coin so it wasn't bad for $7.00

 

NGC was sued in 2006 and lost, agreeing to stop using the meaningless and misleading "First Strike" designation. They replaced it with the equally meaningless "Early Releases" designation. PCGS was also sued, but reached a secret settlement. PCGS continues to use the deceptive "First Strikes" designation on their labels.

"Early Releases" command a premium but it makes no sense because coins shipped on the first day weren't necessarily the first to be made and aren't different in any way from those released on any other day.

I think the coin collecting community should refuse to have anything to do with either designation.

 

But they are not sent out in that order. The US Mint has repeatedly stated that they do not keep track of the order in which coins are struck from dies. As dies are periodically replaced, there are many coins struck from new dies and they are as likely to be late in the production run as at the beginning.

 

The seller I refered agreed that "FIRST DAY OF ISSUE" is much more appropriate and stated that he would change every listing for his 2006 mint proof sets. I just checked and he is " Aman of his word". Iwill deal with this man everytime he lists coins that I am looking for and I reccomend him to everyone here. zeke

http://cgi.ebay.com/2006-US-MINT-10...QptZCoins_US_Individual?hash=item1c0dcee188he

 

"First Day of Issue" is completely meaningless. It indicates only the day they were sold and has nothing to do with the day they were made or the day they were shipped. The only honest designation is "Direct from the US Mint".

 

I diagree. First Day of Issue is very meaningful when buyers want to know they were the fist to purchase an item. When a collector considers the time and date important, it means a lot. What's meaningless to you may be very meaningful to another. "Different strokes for different folks".

 

For the most part saying "first strike" and I will send you $1000 today have

For the most part making a statement such as saying "first strike" and I will send you $1000 today have about the same amount of truth and promise in them, "hold your breath"!

 

AHHHH but what you don't know is the Mint has the First Strike Police standing right there with a First Strike Net and grab the true First Strike coins. This net is specifically designed to only accept true First Strike coins. All others will fall out and become something else. No onw really knows what yet. Those are then taken to the First Strike Coin TPGS people's secret collectors for selling as First Strike coinage. :goof:
I really have a difficult time understanding how a coin could be labled First Strike.

 

I bet that 99.99% of stamp collectors, philatelists, know what " First Day Issue" means.