Hello World!!! I have always been told that I should only pay for the coin and not the plastic its in. I wonder how important is it to get a coin graded. Most dealers tell me the coins should be worth at least 2-3 hundred dollars. I have always wondered about the Silver Eagles. Now I would love to put together a MS-70 collection, but I would have to sell my house to come close to that. I am attempting to put together a First Strike MS-69 Collection, because it is much easier to put together... But I wonder why these companys would grade these coins, since most of them are worth about 20 dollars. Plus, what does First Strike really mean. Each dealer tells me something different. I have always though First Strike coins were minted the first thirty days with a new die. I would like to learn the importance of PCGS and NGC? Plus, what does First Strike truely mean and how it affects the value of a coin? Would I as a invester/collector have a better return on an MS-68 First Strike Complete Set minus any proof coins, or a MS-69 First Strike Complete Set minus any and all proof coins? Finally how does the First Strike coins affect the premium of the coins? Thanks Tyler D Hess
Welcome to the forum! You might find the article below interesting. You can also google "NGC first strike" and "PCGS first strike" to get their definitions , although NGC has discontinued the use of the phrase. http://www.lipcon.com/news_archive/news_article84.php The premium on the coin is illusionary in my opinion. The 99,999th first strike coin will be on the average, much worse than the first tens of thousands on the second set of dies. You are paying $25 for the coin and $175 for the slab and label. There will be thousands of people who (IMO) in the future will find that once the hype has lowered that their labeled coins will not be valued at what they were told they would. There will probably still be people who will pay a premium for them, but I predict much less. Jim
Tyler: Welcome to CT! It is really hard to distinguish an MS69 and an MS70 especially with the ASEs. Also, many think that the bottom is going to drop out of the slabbed bullion market soon and you may be setting yourself up for a risky venture going for the MS70s. Save yourself some big money and consider collecting them raw (uncertified) as bullion. TC
I think getting ASE's raw are better to collect if you don't wanna loose your shirt or worse, house. AMPEX has reasonable prices on raw ASE's and you can get a mix of dates for around $22 a coin.
The only importance of "First Strike" being slapped on a label is for a quick turn around sale, usually at outrageous prices; especially if the coin grades MS/PR-70. As Jim pointed out, this frenzy will die down before too long and people who gamble for MS/PR-70 from a top TPG, are going to lose their shirts. I don't submit coins for slabbing and grading because I can't see the expense involved in submitting coins that will remain in my collection and are not for sale. I do own some slabbed coins; however, I bought them for at fair market value, not inflated prices.
I'll 2nd that! The TPG'ers first strike designation has nothing to do with the coin being a first strike from a die, which could protentially be a high grade. Glad to hear NGC has stopped this misleading practise.
It is simply another way of upping the cost of the coin, unless you are physicaly in the mint and you physicaly remove the 1st coin struck then you have no idea if in fact it is realy THE 1 srt Strike the same in reality can be said for Early relese!! is the coin sold before any other of that run? I doubt it very much. If you are going to buy a coin in a coffin then simply buy it by grade
Early release is a possible designation for a coin that NGC receives for slabbing ( includ. extra charges) within 30 days of release by the mint. This page will give you a listing of all of the "special labeling NGC does " http://www.ngccoin.com/services/earlyrelease.asp
I would say sell them "Early Releases" NOW for whatever profit you may garner (or loss) and buy yourself some nice coins that will retain their value in the future.
$21 is what they're worth!!.stop falling into the hype of these modern coins. if you wanna find out the true value on these coins just ask the seller "what is your buy price for this coin? "and...i'll bet my A$$ that it won't be anywhere near $300 bucks!!!. how can these dealers sleep at night when they are selling a $21 coin for $200-$300? sad,really sad.
Since the only criteria they use for First Strike or Early Release is that it must either arrive to them before Jan 31st, or be an unopened green monster box that was packed before Jan 31st, AND since the mint starts striking them in SEPTEMBER the year before the first FIVE MONTHS worth of production could technically qualify for First Strike or Early Release designation. That is patently ridiculous. Are you really willing to pay a big premium of a coin struck in the fifth month of production but unwilling to for one struck in the sixth month?
