Buying the coin or the label?

Discussion in 'US Coins Forum' started by Dima, May 29, 2020.

  1. Dima

    Dima Member Supporter

    Got an email offer I found funny enough to share; great example of buying the label/holder instead of buying the coin --

    Identical 2020 ASE, both graded MS69 by PCGS, priced $31 apart because of a different label...?


    I'll admit, I was interested in owning one of the "emergency" issues (feel like that needs an extra set of quotes), but I feel this markup is ridiculous; way overpriced.


    I know this is just one dealer, but I've seen this price gouge across several other sites as well.
    john65999 and TypeCoin971793 like this.
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  3. messydesk

    messydesk Well-Known Member

    There's nothing new about paying extra for a label. Distinction without a difference. I just refer to it as an active field of exonumia.
  4. baseball21

    baseball21 Well-Known Member

    I won't comment on what the prices should be, but no those are two different coins. One was minted in West Point one was minted at Philly
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  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    Personally I find the label with the higher price ridiculous. I know there are those who would argue but please don't.
    johnmilton and Santinidollar like this.
  6. Dima

    Dima Member Supporter

    I can't argue that fact; technically you're right.

    Some what related - I'd read somewhere that back in '65-'67 to make up for the shortage of circulating coins, West Point struck millions of Washington quarters -- without any mintmark or indication of being different from Philadelphia coins.

    Yall are right too; not trying to argue it. Just pointing out the price delta. Ultimately, if there's demand and folks are buying these coins for $x, then they're worth exactly $x. We arbitrarily assign value to these objects based on our desire to own them and the (sometimes) limited quantity of them.
    Collecting Nut likes this.
  7. ddddd

    ddddd Member

    That's exactly it. Many of us don't see the value of these but enough people do to pay a premium. If they are selling for $50-$70, then that is the current market value.

    In 2015 a similar Eagle was released (also from Philly and also only distinguished by the monster box label). I just checked on eBay and those are selling at $290-$400 for PCGS/NGC MS 69 (although the mintage was lower at 79,640).
  8. calcol

    calcol Supporter! Supporter

    So if you crack'em out, put'em in flips, fill out the form specifying the correct mint for each, and send'em for grading, ... how's it gonna be handled? Think you'll get back one holder that says West Point and one that says Philadelphia on it? Just askin'. o_O

  9. mynamespat

    mynamespat Dingus

    Basically the same as the 2000 Cheerios cent, no?
    baseball21 likes this.
  10. Dima

    Dima Member Supporter

    They'll both come back as regular 2020-(W). The only way to get that special label is for ASE bullion shipped directly from US mint to PCGS by 3rd party vendors and dealers. From what I understand, PCGS was able to confirm where the coins were minted based on the actual date they were minted and the shipping labels used by the Mint.
  11. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    Question? Which is more important, the coin, or the label? To me, it seems like fundraising by TPGs to have the “first strike”, or “first day of issue,” or “early release” labels. Even sillier, is the fact that coins with that designation, that are exactly the same date, condition, mint, and appearance sell for different amounts is ludicrous. It is like trying to create a variety of the coin that does not exist.
    UncleScroge likes this.
  12. Dima

    Dima Member Supporter

    I see it as "to each their own." Some folks like the ancient coins; some like type coins; some gold; others specific TPGs. Other folks like stamps; etc.

    I'm a big fan of late 19th/early 20th century stuff where 'first strike' doesn't really exist. But I've also picked up a few 2019-W and 2020-W quarters which are labeled "First week of discovery" or "Early find."

    Yes - you're right. But it clearly sounds like there's a market of people hunting specifically those special labels and pedigrees.
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    I did not mean you would argue but there are those that will. :)
  14. baseball21

    baseball21 Well-Known Member

    There have been instances where west point did make some circulation coins and if we could figure out which ones they'd have more worth than normal.

    I believe they'd actually just have the date as mint's aren't assumed when there are multiple ones
    Dima likes this.
  15. Razz

    Razz Critical Thinker

    One word: Bullion.

    Today price of 1 oz of Silver is $17.88.

    These are minted in the millions. Think about it. If you like it buy it, but be aware unless you have a matching set of plastic labels for the entire series, no real premium for just a one year label. IMO. And those that do have a matching set will never need to buy yours in the future because they already have theirs.
  16. TypeCoin971793

    TypeCoin971793 Just a random nobody who doesn’t know anything...

    Sometimes the label is worth paying a premium for.

    254B9D89-ACDA-4DAD-9E6C-21B477A160B0.jpeg 8A68B289-41B6-46FD-9C0E-A5C704E43FB1.jpeg
  17. Conder101

    Conder101 Numismatist

    West Point didn't start striking coins until 1975. They did cents from 1975 to 1986 and quarters 1976 to 1979. San Francisco also struck cents without a mintmark from 1978 to 1983.
    Dima, UncleScroge and slackaction1 like this.
  18. COOPER12

    COOPER12 Active Member

    I will say with older coins I like trying to find a graded coin when I am buying on line . Internet photos often hide things so I prefer finding coins that look as attractive as I can see that are graded so I know I have less likelihood of getting a cleaned or altered coin . If I am buying online ungraded it has to have return privileges . Newer coins I don't care as much what the label says .
  19. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    That is an unusual case of special labels. I think we are talking about the “first strike,” or “first day of mintage” labels. Yours is a legitimate variety.
  20. baseball21

    baseball21 Well-Known Member

    While I appreciate the ground zero coins and the history, to claim they are a legitimate variety and dismiss the P W S mint ASEs just isnt correct.
  21. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    Says, who? If they were minted with different source metals, I would call that a variety.
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