FIRST STRIKE Lawsuits - Interesting Observation

Strike

Class actions are to get a feeling of being vindicated. Proceedes pay the lawyers. The govt. hands out fines and the problem usually stops. To some it is worth it, to others it is well.......... not justice , but JUST US !

 

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I was party to a class action lawsuit against American Express. Deep pockets! My share of the settlement was 40 cents. I saved the check as a souvenir. It wasn't even worth taking it to the bank to deposit it.

Class action lawsuits mainly benefit the plaintiff's attorneys, although the attorneys will tell you that they serve an important deterrant function for bad behavior.

 

until someone stops them, lots of peple will think that label makes them something special.

 

Like the Omaha Bank Hoard? :goofer: :goofer:


Ben

 

The Only Real First Strike Is The Very First Coin Struck. So There Should Only Be One.
Mike

 

I believe that someone around here said it best.

"FIRST RELEASED"

This would be a much more accurate term to use than "FIRST STRIKE".

From what all I understand regarding the hobby, nearly all collectors would agree that the TPG'ers are misusing a general term used by collectors that referrs to coins first off the new die as "First Strikes". To what end? To confuse the newest collectors to the hobby and generate more bucks from the likes of The Coin Vault and others.

I attended the Santa Clara coin show on Saturday and was surprised to see very few FIRST STRIKE encapsulated coins available. Also, I didn't see ONE SGS slabbed coin.

BTW, the bulk of the slabbed items were by PCGS and NGC. I saw few ICG and ANACS products at the tables.

 

I agree

 

Hey group please do not band me from the forum but i have two 70 buffalos gold coins One mint state and one proof. They are NGC certified and it say "fine first strikes." Technically it could mean about what you wanted it to. how many is strikes

I not understand it when i bought it becouse that is the first certified coins i had ever bought, may be the last. did not understand it then and certainlly does not interest me now that i have learned a little bit.

 

I've bought only one first strike coin -- a 2005 PCGS MS69 American Eagle.

 

Yea like were all perfect here

We all have bought something with our emotions rather then thinking it through. Maybe one day there will be just a few of the "First Strike" coins and what will remain will become a collectors item.

 

Off the top of my head, I think the Buffalos were struck 4 or 5 times, so 'First Strikes' is technically correct. Edit: The Mint website says each is struck at least 3 times.

And regarding the lawsuit mentioned by others, one problem is regarding damages. If sucessful in his/their case, how much in damages should the plaintiff/s be awarded?

 

Same show, same day, same observation. :hail:

I only recall one dealer with the Golden Buffalo coins that said that. I almost laughed at him. Had to bite my tounge.

 

Totally agree here.

 

If you struck one hundred coins each one time the first coin would be a first strike.
If you stuck one hundred coins mutiple time the first coin would be a first strike.
A proof is a manufacturing difference created to enhance the appearance of the coin. If dies for both proof and uncirculated coins are made from the same material , the proof die should fail at a determined rate of how many times the die is engauged compared to the uncirculated coin. Each die probably carries a different hardness depending on what it is creating and how much the mint is willing to pay for exotic die steel.