Buying first strikes yearly

A few years ago I started buying 20 MS-70 FS Silver Eagles. I just thought it was something cool to do. I am shocked at how much some of them will go for now.

Any reason why?

 

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People like them. Just the market dictating value

 

The attribute, "First Strike" is meaningless. Coins slabbed with that moniker can number in the tens of thousands, but don't let us stop you from collecting them!

Chris

 

No worries, I wasn't.

 

I just saw a slabbed World coin - I don't remember from which country, but it said on the NGC slab that it was one of the first 200,000 struck. I had to chuckle.

 

I just like buying the MS70's from each year an putting them away. I find they hold better value than an ungraded version of the ASE.

 

People are dumb?

 

Not too sure about that. I've sold some MS70 2012's and 2013's for a nice profit. I do not think that could be said for ungraded ASEs from those years so quickly.

 

Liking something doesn't make people dumb. The market and collectors are well aware of what it means and what it is (the PCGS slab even says so right on the label) they like it anyway.

 

It is all based on hype. Like some of the earlier posts, the label is meaningless. If you are happy with them and they have greater value (for the moment) great. See what the value in 20 yrs is. Collect what you like, collecting for investment or financial gain is risky a best.

 

No doubt. Sell some, keep some. I buy them in lots of 20, so I have more than enough.

 

Am I correct in assuming that MS70s can carry a premium because -- based on the entire mintage of ASEs -- only a relative fraction of them have been graded at all?

 

You could grade the entire mintage and they would still carry a premium.

 

Grading bullion is already ridiculous, but paying a premium for a "first strike" ASE is total nonsense.

 

Christ on chruches YES

 

I got a kick out of seeing a slabbed HOF Baseball Silver Dollar AUTOGRAPHED by Babe Ruth...

 

When the Mint produces a run, they usually strike the entire run before there is any distributation. First strikes are first releases and may be actually the last strikes of a run. If you can visualize thousands of boxes of coins, the first strikes are likely in the back of the pallots and are lost in the stack.

 

I agree with this and with what (Chris) cpm9ball said. I have no doubt that the first coins sold by the Mint are not the first ones minted. The collectors who buy these coins are paying the premium for the NGC label. I see nothing wrong with it, but then again, I don't buy MS70 SE's. I do have a set of NGC MS69 SE's with the 'First Strike' red label. And I also buy the early release NGC coins which were purchased for pretty much the same price as any other NGC MS69 SE.

 

They have a premium because, like the OP, many collect them and would prefer the FS designation on the slab. I'm with the grading bullion is ludicrous crowd, but it doesn't really matter what I like or think. Clearly there are plenty of others who disagree and have set the market for the slabbed version. As long as the series continues, there will be a premium, if it ever ends, I would expect them to drop in value tremendously. This has been the case with just about every modern series that the mint releases. Smart marketing, but I feel a bad long term investment. Knowing when to get out of them will be the key to profitability.

 

"Not too sure about that. I've sold some MS70 2012's and 2013's for a nice profit. I do not think that could be said for ungraded ASEs from those years so quickly."


I think this may be the "greater fool" theory in action.

One has to fall for the belief that these are "first strikes" when they are not, and then you have to be into collecting plastic instead of collecting coins.....