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Message:: [QUOTE="19Lyds, post: 1788439, member: 15929"]Here goes my take on the subject. "First Strike" in the strictest sense of the term, refers to the first coin off of a fresh die set. "First Strikes" would mean the first 50 or so coins off of a fresh die set. The term was more than likely coin with regard to the Cameo frost on proof coins which, back in the 50's, was the first feature to wear off of a die set. Fast Forward to 2005. When the US Mint began producing bullion coins in 1986, many folks began collecting them. In 2005, PCGS figured out a method of "extending" collector interest in these bullion coins by producing "special" slab labels. These labels were called "First Strike", which has absolutely nothing to do with "when" the coin was struck and has everything to do with "when" the coin was submitted for grading AND what fee's were paid for that grading. This program served two purposes. 1. It insured an influx of grading submissions at specific times through out the year. More specifically, in January of each year. PCGS could count on volume dealers to make bulk submissions at a time when most folks are tightening their belts after the Christmas spending and those bills starting coming in. This more of less guaranteed PCGS a positive cash flow in a tough month of the year. 2. For the bullion collector that purchased PCGS slabbed coins, it added another dimension to the collecting of Silver and Gold Eagles since, some folks may want a collection in standard slabs AND a collection in First Strike slabs. Assembling a collection in First Strike slabs would prove to be very challenging in that, since the program was introduced in 2005, how could years 1986-2004 be added. Remembering that PCGS First Strike Status required that the coins be received from the US Mint during the 30 day window of when they were first made available to the public. Well............with Silver Eagles (and possibly Gold Eagles), each box is inspected prior to being sealed at the West Point (or) San Francisco facilities. These inspection slip, which are physically in the box, also have the date of the inspection.PCGS stated that if a sealed box were submitted for grading AND the date on the inspection were before the end of the 30 First Strike window, then the coins in the box would be eligible for First Strike Slabs. As such, some of the "sealed" boxes submitted for grading have qualified for First Strike "before" the program WAS EVER IMPLEMENTED! This means that, even though the program started in 2005, it is possible to have a 1986-2004 First Strike qualified coin. I used to chase these down and used to own 1988, 1990, 1991, 1993, 1996, 1997, 1998, 1999, 2001, 2002, 2003, and 2004 First Strike Silver Eagles. Some, much to my disappointment, I paid a hefty premium for which was never recovered. Others I paid zero premium for but were able to resell for a hefty premium. As for the program being a "marketing" gimmick. I don't know that I'd say that as much as I'd say it offered an alternative "type" of collection. BTW, you'll NOT see any 1986 or 1987 First Strike Silver Eagles, but, if you did, they would command very strong premiums (like it or not) since, given the spotting problems that plague the Silver Eagles, finding a sealed box that was shipped within the first 30 days of release and ultimately finding spot free coins within that box, will be next to impossible. I chased these for a long time and the oldest I'd ever seen was 1988. It had a population of 93 back then and still has a population of 93 today. Is it worth the premium? Sure. If you collect First Strike Slabs. However, numismatically speaking, the coin within the slab is the same as one produced and shi[[ed later in the year. For those that like to diss the First Strike Program, there are plenty of other programs to diss. 40th Anniversary Eisenhowers50th Anniversary Kennedy's(S) Mint slab labelsSignature Presidential DollarsFirst Day of Issue Presidential DollarsAmerican Hero's Silver EaglesWorld Trade Center Silver EaglesJohn Mercanti Silver Eagles Now, the program was so popular, NGC jumped on the band wagon. However, they were sued by a collector in Florida and as part of the settlement (since the coin wasn't really a first strike numismatically speaking, NGC agreed to drop the program and instead, start the "Early Release" program. Of course, "Early Release" is just as deceiving as First Strike in that the coin within the slab ISN'T and "Early Release (meaning released before anybody else got them) as much as its an "Early Submission".[/QUOTE]

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