First Strike Designation

Discussion in 'Bullion Investing' started by Newcoinboy2018, May 13, 2018.

  1. Newcoinboy2018

    Newcoinboy2018 Active Member

    Is it worth obtaining first strike designation for a 2018 American Buffalo Proof 1 oz Gold Coin? It was purchased on May 10th, the day they became available. If so, does it really add much to the investment?
     
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  3. CoinBlazer

    CoinBlazer 0101000001001101001000000110110101100101

    No, just a hype scheme. Unless you collect FS but they won't help too much. I somewhat consider bullion grading unnessacary but don't only take my word for it
     
  4. Santinidollar

    Santinidollar Supporter! Supporter

    Regular bullion coins, I agree, don’t need to be graded. But I’d get the $50 gold buffalo and American Gold Eagle proofs graded.

    But as far as First Strike goes, that’s hype, unless you later want to sell it. Somebody might be willing to pay you a bit more for it — your humble narrator here not among them.
     
  5. CoinCorgi

    CoinCorgi Derp, derp, derp!

  6. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    I'm not a graded bullion guy, just don't do it or see the value.

    As an aside, this seems to be the consensus on just about every message board I post on or read. Just about everyone on them doesn't believe in buying graded bullion or having bullion graded. That stated, somebody is buying them because there sure are plenty sold.
     
  7. Santinidollar

    Santinidollar Supporter! Supporter

    There’s thousands of graded ASEs being offered on eBay. How many are being sold, I don’t know.
     
  8. Newcoinboy2018

    Newcoinboy2018 Active Member

     
  9. Newcoinboy2018

    Newcoinboy2018 Active Member

  10. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    this shows 11,000 + in ms69
    https://www.ebay.com/sch/i.html?_from=R40&_nkw=Silver Eagle ms69&_sacat=0&LH_Sold=1&LH_Complete=1

    and this shows 10,000 + in ms70
    https://www.ebay.com/sch/i.html?_fr...dkw=Silver Eagle ms69&LH_Complete=1&LH_Sold=1

    and that doesn't take into account the special sets, proofs or anything that didn't fall into the search of "Silver Eagle ms69" or "Silver Eagle ms70".
     
  11. Santinidollar

    Santinidollar Supporter! Supporter

    Interesting. Thanks!
     
    Newcoinboy2018 likes this.
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER" Supporter

    First Day of issue, First Strike all buzz words to get you to buy !! not worth anymore money then the second day of issue...LOL
     
    Garlicus likes this.
  13. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    They must be worth more to some people as they sometimes do command more money. They're not worth anything more to me, neither is the plastic or the grades, but some people are buying them and paying more for them. Whether they're wasting their money or not will be determined at some point...I don't know when...but it doesn't matter to me as I'm not a player in that market
     
    Newcoinboy2018 likes this.
  14. Clawcoins

    Clawcoins Well-Known Member

    I believe to get first strike you have to send it in to get graded in it's US MINT shipping box so they can see that it was postmarked correctly.

    So as long as you didn't open it you can move forward.

    Of course, IMHO the more knowledgeable investor/collector the less likely they'll buy a "first strike" coin for additional costs.
     
    Newcoinboy2018 likes this.
  15. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER" Supporter

    As i stated in my previous post, It,s buzz word, to get you to buy or pay more for
    The same thing, you can get for a lesser price, if someone wants to pay the extra $$$
    Go for it, but more often then not you wont get the premium back.
     
    Last edited: May 14, 2018
  16. TheFinn

    TheFinn Well-Known Member

    Agreed. If you collect them, then it is something worth getting. There just isn't a secondary market for them. I have purchased bullion from major dealers and received graded FS slabs in the lot at the same price.
     
  17. Newcoinboy2018

    Newcoinboy2018 Active Member

    Correct, clawcoins
     
  18. Newcoinboy2018

    Newcoinboy2018 Active Member

    As a side note to your conversations above, it’s very surprising to me that some numismatists don’t believe as a die is used during different minting seasons for the same coin, that second or third season minting strikes using the same die may not have the same relief displayed before the die breaks or deteriorates. After all, this is why they have different minting seasons for such coins. Just a thought on how some do and don’t value the meaning of such striking terms.

    I thought I would post a photo because I don’t plan on obtaining first strike designation, or even a grading option. I have all the documentation I need to prove both first strike and mint condition. More than likely, I won’t even be the one to redeem them. They will be passed on to my children who will certainly believe when and where the coins were purchased, and whether or not they will want to have them professionally graded considering they have never been taken out of those capsules. At the end of the day it is simply a matter of trust. Some people need a world of ways in securing trust with their possessions. While some people can be content with the trust they have already secured.
     

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    Last edited: May 15, 2018
  19. Santinidollar

    Santinidollar Supporter! Supporter

    I love those Buffalo gold proofs. I have a 2006 PR70.

    One thing: I’m not sure but check to see if there is a time limit to claim a First Strike designation. I seem to recall there is — but I might be not only in left field, but in the parking lot. The grading service websites should answer it.
     
    Newcoinboy2018 likes this.
  20. Newcoinboy2018

    Newcoinboy2018 Active Member

    Me, too. A 2006 pr70?! Way cool! They do have a time limit for FS. It is typically 30 days from the date of when they are first available for purchase. I see no reason for FS designation when an owner obtains such coins from a reputable source that can provide a certificate of authenticity, and retains their purchase receipt. Even though first strike designation can add 20 to 30% of value to each coin because it can confirm each coin’s credibility, I don’t want to send gold coins to a grading company that haven’t been taken out of capsules since purchase. It does seem like a “buzz word” to one degree or another depending on purchasing sources and credibility of each coin in question.
     
    Last edited: May 15, 2018
  21. Casman

    Casman Member

    The PCGS FS eligibility lasts forever as long as the outer brown us mint shipping box remains sealed and the coin was received by you within the first 30 days.

    If you send your coin in within the first 30 days of release you do not need to send the US mint packaging "if" that was the only way it was released.

    I've recently sold a bunch of Graded 70 Buffs and realized zero premium. In fact a few of the raw ones did equal or better. The one exception is the 2008W Buff's where having the FS designation adds a substantial premium, figure throughout the fractionals $4-6K per oz. But that was an unusual year.

    NGC rules are different.

    From the PCGS site:

    [​IMG]

    The package mailed to PCGS has a postmark date prior to the PCGS cutoff date for that particular coin/issue. Only the coins need to be mailed to PCGS and received within the first 30 days of issue.

    [​IMG]

    Submit the coins in the original unopened shipping box from the U.S. Mint with a postmark date prior to the specified PCGS cutoff date.
     
    Last edited: May 15, 2018
    Newcoinboy2018 likes this.
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