First Strike Designation

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

  1. Newcoinboy2018

    Newcoinboy2018 Active Member

    I may not have first strike designation on these proof coins, but the date of the purchase receipt and coins not taken out of their capsules will at least give my children information on how to better make their decision on grading them professionally when/if they choose to do have them graded. Besides, aren't proof coins suppose to be in mint condition upon purchase from the mint? Seems pointless to buy proof coins that aren't in mint condition the day they are available for purchase. Also, I don't expect my photo to prove the condition of said coin.
     
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  3. Casman

    Casman Member

    They are in Mint condition, however that may not meet the TPG's criteria for the 70 grade.
     
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  4. Newcoinboy2018

    Newcoinboy2018 Active Member

    Interesting. Guess it depends on how often the coin has been handled out of a protective container before it is originally purchased from someone. I don't put mishandling a coin past mint workers, either:facepalm:;) After thinking and sleeping on the grading option, with gold I would rather take it and have it graded by someone professionally right before selling it. I don't put mishandling past anyone. lol
     
  5. baseball21

    baseball21 Well-Known Member

    Despite what has been written and people's personal opinions, yes First Strike does generally sell for more and certainly more than the label cost with the gold coins. People don't have to agree or like it but that is what the market shows.

    So yes I would get it for the Buffalos if I sent them in for grading
     
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  6. Newcoinboy2018

    Newcoinboy2018 Active Member

    I understand the designation can bring a higher sale price. I don’t think I will buy any first strike designated coins after seeing fs designated prices. I don’t believe in another party opening anyone’s first purchased gold coin.
     
  7. Casman

    Casman Member

    Sure they sell for more but you should take into account the additional costs. There's grading fees, $30 + $18 +10 + $23.05 + Ship to at Min $7 (uninsured) Flat rate=$88.05, and the membership cost, unless someone else submits it.
    Then there's the ebay paypal fees and if you don't have a store or receive other discounts that's negative 13 percent so assuming on a sale of $2K that's $260 + $88.05 and you're $348.05 in the hole before you get started + the coin @ $1700.

    Now you could utilize other venues for the sale but the bidders back off their bids to account for the buyers premium. Also, buy prices from dealers doesn't help because they have to make their profit and do not plan on keeping it.

    Keep in mind the numbers working for the regular sellers are less that plus they'll likely submit in bulk to receive further discounts, and make a small profit on each sale, but for the avg Joe expecting to make more by having them graded is generally not gonna happen. I for one do not like the idea of spending say $2K to maybe profit $100 years later...and keep in mind by then the POPs are established and you generally come out about even. Don't forget there's also a tax aspect.

    So this is my take on what the market shows and if there's some fanciful sale numbers which show otherwise after fees etc I'd like to see those. This of course presumes we are not discussing low mintage examples such as the 2008 W's. Then gackkk, if it comes back 69 it's even a worse scenario. IMHO the labels look nice but in real world numbers there's no benefit.
     
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  8. PlanoSteve

    PlanoSteve Well-Known Member

    Wait until 1/1/2019 then send it in and ask them to label it "Last Strike" (for bullion who's going to know). Then it's guaranteed someone on the planet (or maybe even a visiting alien) will pay a major premium for the bullion coin! :happy::eek::rolleyes:
     
  9. Newcoinboy2018

    Newcoinboy2018 Active Member

    Lol
     
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