Am i the only one that thinks labels such as first strike are a scam?

I can almost see paying more for a MS70 vs MS69 but paying more for a first strike label, or any other label for that matter is a scam.

 

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No, you are not the only one. There are at least two of us already in this thread.

 

I agree, but there's money in it. Who am I to refuse someone's money?

 

It is really starting to get out of hand. Mercanti autographed, flag, portrait, early releases, first strike, etc, etc. If someone wants to collect labels that's fine with me, but I will stick to coins. TC

 

Not a bad deal when you can get First Strike slabbed 5oz. at $2.99 / oz over spot when it was at $27

 

Post similar sentiments over on the PCGS board and you will get banned.
First Strike is nothing more than a sleazy marketing ploy thought up by the scum that run PCGS.
I'm not crazy about the registry set concept either.
How many times to people need to hear "BUY THE COIN, NOT THE LABEL" before it sinks in?

 

Yeah, it's somewhat of a gimmick for most of the newer releases, to get people excited about sending their coins in for that to be on the label. Just think of the way the tpgs handled the 25th anniversary coins. You evidently had to send in the box you received unopened, and within a certain period of time just to get that nice label. And the labels with first strike imply that you are getting some sort of superior coin, which may or may not be true, but is based on the coin itself.

But, on the plus side, if someone wants to collect coins based on the labels, well, that's just another set of criteria that person has put on their collection. And if they pay or will be able to resell for more money based on that label, then fine for them. I think it's good for some people who put a premium on having a select type (or limited edition, if you will) of collectible because they feel they are superior at having a good collection that others can't afford or who don't have the ability to 'discern' what the best implies. Bully for them.

 

If people like the label then let them buy it. It does bring more when resold compared to "regular" label....Still a label.
I do buy the First Strikes on secondary market when prices go down. I have many of my mint orders still sealed in orginal shipping boxes so they qualify for FS. Of course I will not pay the HIGH fees per coin to get these graded but I know I can resell that box at a premium if I decide to.
For what a volume dealer pays for that label is peanuts compared to what the little guy has to pay. So I wait until prices are down a bit and buy one of each ASE in 69.
Still have my 20th anniversay & 25th anniversary ASE sets sealed & they qualify for FS. Let them sit. I bought the key coins seperately so I can look at them, :smile.
And one way to beat the label issue is to Buy the STOCK. CLCT has done alright by me! Buy after dividend is payed & sell just before next ex-dividend date.

Cheers

 

You are by no means alone in that opinion, but as was already mentioned, there is a market for it. The reality is, to my understanding, it cannot be known for sure which coins were struck first and the sequence of which the remainder of the coins were struck. If that is true, the designation is meaningless. However, as is often the case, perception determines the reality, even though it is not the reality.

Regardless of what is true, there are people who think the designation is important and are willing to pay more for it when they have coins graded and when they buy coins as well. That's their belief and it is their right to have it. On the other hand, there are many, myself included, who feel it is a marketing gimmick; just as there are many of us who feel paying more for graded modern bullion is silly. To each their own.

 

IMO these gimmicks simply turn coin collection into money pits for everyone involved imagine how much $$ it would take to complete set of any bullions'.

 

I'm gonna say you have a motion and a second. It's Bullion, it is meant to be worth no more than the silver, yet they mint proofs and stuff. Sure its nice it has a design, but people shouldn't pay extra for pretty designs, a silver nugget is pretty too. sorry for my loud opinion.

 

Although I don't agree with the designation, your emotional hatred for everything PCGS is clouding your brain. It isn't a marketing ploy. They are giving the customers what they want. There is obviously a market for this stuff. Why shouldn't the please their customers?

 

Unless the actual coin has a designation, it's just paying for the slab, so yes it's a scam. Besides, i like the traditional brown labels from ngc .

 

Make me #13. The "Early Releases" by NGC are similar. I just don't see who would get something worth only bullion graded, maybe TPGs will soon start grading gold nuggets. Technically, only one coin of each denomination, year, etc. can truly be the first struck. Maybe they will start counterstamping them with "FS".

 

The simple fact is the "First Strike" designation is 100% meaningless. The chances are just as good that your "FS" labeled coin was minted at the end of the die run than at the beginning. However, this is a highly profitable gimmick for PCGS (as is ER for NGC). Remember NGC's first strike labels? Ever wonder what happened to them? Google it.

 

PCGS already has....

 

I would guess that when they set up a production run they would have to fiddle a little before they got the strikes just the way they envisioned them. So the first struck coin could be weakly struck or have other problems taken care of before they started the production run.

 

And how does one grade a nugget? Lol. But as for those labels, it's clever marketing and I can't fault them for that. They are a business who's goal is to make money. They aren't making anyone buy them, so if you don't like them, don't buy them.

 

Seriously? any pics?