PCGS Guidance for Presidential Dollar Coins

CoinKing · February 13, 2007 1:09AM

PCGS GUIDANCE FOR PRESIDENTIAL DOLLAR COINS

Effective February 13, 2007

BACKGROUND

Beginning in 2007, the U.S. Mint will produce a series of circulating one-dollar coins to honor each of the American presidents. The coins will be issued in the order in which the Presidents served. Four Presidential coins will be issued each year until the series is completed. The first coin, the Washington $1, is expected to be released on February 15, 2007. Each of the Presidential coins features an edge incused with the mottoes “E Pluribus Unum”, “In God We trust”, the date and the mintmark.

INNOVATIONS AND OPTIONS

PCGS offers a variety of new innovations and options for this exciting series. Innovations include a new, three-prong gasket that will afford a clear view of the edge of the coins, where the incuse date and mintmark will be located. Options include colorful, collectible inserts and a First Day of Issue option. PCGS offers the following guidance for submissions of the new Presidential $1 coins:

1. Tri-ViewTM Gasket (standard). All Presidential Dollars will be holdered with a new, three-pronged gasket. The coins will be oriented in the gasket so that the date and mintmark are clearly visible.
2. First Day of Issue (optional). Presidential coins delivered to PCGS on the first official day of their release (February 15 for the Washington $1) or sent in sealed packages postmarked on that date will qualify for a special First Day of Issue designation.
3. Custom Inserts (optional). PCGS offers custom-designed, colorful inserts to form a collectible subset of the Presidential coin series.

SUBMISSION REQUIREMENTS

Single Presidential Coins may be submitted under any service level. These coins will bear the regular blue PCGS insert and are ineligible for either the First Day of Issue or the Custom inserts.

First Day of Issue and Custom Inserts are only available through the PCGS Bulk Submissions program. Each order must contain a minimum of 100 coins. All bulk orders should be submitted directly to the PCGS offices and cannot be accepted at shows. If you have any questions about submitting bulk coins, please contact us at (949) 567-1216.

Cladiator · February 13, 2007 1:10AM

<< Innovations include a new, three-prong gasket that will afford a clear view of the edge of the coins,... Tri-ViewTM Gasket >>

Is this available for any coin?

claychaser · February 13, 2007 1:15AM

Are there any pictures of the holder available?

MajorDuty · February 13, 2007 1:16AM

<< 

<< Innovations include a new, three-prong gasket that will afford a clear view of the edge of the coins,... Tri-ViewTM Gasket >>

Is this available for any coin? >>

Good question.

CoinKing · February 13, 2007 1:18AM

Short-term answer = no

Long-term answer = yes (qualified)

It's very easy for us to create different sizes of the Tri-ViewTM gasket, but on larger coins there is insufficient room in the holder to accommodate this special gasket. However, there are numerous instances (i.e Bust Half Dollars, many Colonials, and other smaller-sized coins) where this gasket will be especially useful and we're certainly willing to move in that direction as demand dictates.

richardshipp · February 13, 2007 1:19AM

This thread has the potential for 100 with no problem. It all depends on who asks the obvious question(s).

tmot99 · February 13, 2007 1:25AM

<< Short-term answer = no

Long-term answer = yes (qualified)

It's very easy for us to create different sizes of the Tri-ViewTM gasket, but on larger coins there is insufficient room in the holder to accommodate this special gasket. However, there are numerous instances (i.e Bust Half Dollars, many Colonials, and other smaller-sized coins) where this gasket will be especially useful and we're certainly willing to move in that direction as demand dictates. >>

As long as you have the technology and there is a missing third side of a coin that is never seen (it's obviously more important on coins with lettering on the edge), why even hesitate to use this "new technology" on the coins that you mention? Is there anyone that is really going to say, "Nah, I'd rather have the edge hidden."

CoinKing · February 13, 2007 1:26AM

<< Are there any pictures of the holder available? >>

I'll work on getting a picture for you later this morning. I believe you'll love the Tri-ViewTM gasket. We'll be able to show the date and mintmark of the coin, yet still orient the coin properly in the holder. This is especially useful on the Mint State versions of the Presidential Dollars, where the placement of the date and mintmark are random. The fixed location of the prongs in some of our competitors' holders means that they'll have to either cover up some or all of the date and mintmark to orient the coin properly, or rotate the coin to an awkward position to reveal the date and mintmark.

CoinKing · February 13, 2007 1:30AM

<< 

<< Short-term answer = no

Long-term answer = yes (qualified)

It's very easy for us to create different sizes of the Tri-ViewTM gasket, but on larger coins there is insufficient room in the holder to accommodate this special gasket. However, there are numerous instances (i.e Bust Half Dollars, many Colonials, and other smaller-sized coins) where this gasket will be especially useful and we're certainly willing to move in that direction as demand dictates. >>

As long as you have the technology and there is a missing third side of a coin that is never seen (it's obviously more important on coins with lettering on the edge), why even hesitate to use this "new technology" on the coins that you mention? Is there anyone that is really going to say, "Nah, I'd rather have the edge hidden." >>

Not a bad question. The physics works well with a coin the size of the new Presidential Dollar...it may not work as well with coins of other sizes. The last thing we want to do is create a new "rattler" holder.

Barndog · February 13, 2007 1:33AM

by the way, it's Tri-View™ gasket

I like the idea for lettered edge coins and "rarities" like the RE 1836 half.

MajorDuty · February 13, 2007 1:33AM

<< The last thing we want to do is create a new "rattler" holder. >>

There are many who are quite fond of the "rattler". For more reasons than one!

tmot99 · February 13, 2007 1:38AM

<< 

<< 

<< Short-term answer = no

Long-term answer = yes (qualified)

It's very easy for us to create different sizes of the Tri-ViewTM gasket, but on larger coins there is insufficient room in the holder to accommodate this special gasket. However, there are numerous instances (i.e Bust Half Dollars, many Colonials, and other smaller-sized coins) where this gasket will be especially useful and we're certainly willing to move in that direction as demand dictates. >>

As long as you have the technology and there is a missing third side of a coin that is never seen (it's obviously more important on coins with lettering on the edge), why even hesitate to use this "new technology" on the coins that you mention? Is there anyone that is really going to say, "Nah, I'd rather have the edge hidden." >>

Not a bad question. The physics works well with a coin the size of the new Presidential Dollar...it may not work as well with coins of other sizes. The last thing we want to do is create a new "rattler" holder. >>

Well, why don't you holder a few hundred bust halves and colonials and I'll test them out for you and send a report.

bluelobster · February 13, 2007 1:38AM

messydesk · February 13, 2007 1:41AM

<< 2. First Day of Issue (optional). Presidential coins delivered to PCGS on the first official day of their release (February 15 for the Washington $1) or sent in sealed packages postmarked on that date will qualify for a special First Day of Issue designation. >>

Is there an additional charge for this?

Would a dated teller stamp or post office cancellation on a roll dated 2/15/07 allow me to take the rolls home, package them, then ship them on a later date?

bluelobster · February 13, 2007 1:45AM

I'm just getting back in to coin collecting after many years(mid70s) and while I get the idea of grading and believe it is a necessity, but for the life of me I can't get the first day/strike/release labels....it just seems so HSN and cheesy with no real value added to the coin.... maybe it's just me. Of course I realize it's profitable for the slabbers, but does it help anyone else?

CC2GO · February 13, 2007 1:48AM

<< First Day of Issue (optional). Presidential coins delivered to PCGS on the first official day of their release (February 15 for the Washington $1) or sent in sealed packages postmarked on that date will qualify for a special First Day of Issue designation. >>

Does the Mint ship the same day you place your order?

That's never happened to me and didn't think they
ship that quickly. What if they find they have to delay
shipping to packaging problems or other issue?

holeinone1972 · February 13, 2007 1:50AM

<< I'm just getting back in to coin collecting after many years(mid70s) and while I get the idea of grading and believe it is a necessity, but for the life of me I can't get the first day/strike/release labels....it just seems so HSN and cheesy with no real value added to the coin.... maybe it's just me. Of course I realize it's profitable for the slabbers, but does it help anyone else? >>

While I am not thrilled with the first strike/ first day of release, it does add value to these coins. Look at all other first strike coins and see that the premium received in sales prices are higher than those coins without the designation.

You have to pay to play.

20th anniversary sets are a great example.

JoeLewis · February 13, 2007 1:52AM

<< I'm just getting back in to coin collecting after many years(mid70s) and while I get the idea of grading and believe it is a necessity, but for the life of me I can't get the first day/strike/release labels....it just seems so HSN and cheesy with no real value added to the coin.... maybe it's just me. Of course I realize it's profitable for the slabbers, but does it help anyone else? >>

shhhhhhhh...

kimon1230 · February 13, 2007 1:53AM

It may be a dumb question with an obvious answer but, from reading the OP it appears that the only way to get the "First Day of Issue" on the coin is to submit at least 100 coins. Is this correct?
I'm confused because with the 20th ann. ASE set one was able to send a single set into the bulk department.

CC2GO · February 13, 2007 1:56AM

Does this apply to both Proof & Uncirc's?

BECOKA · February 13, 2007 2:05AM

Is the first day of issue only available on the circulated/UNC coins? Is there a way to get it on the Proof coins if we order on the first day but receive them several weeks later?

Type2 · February 13, 2007 2:06AM

Looks like we have to go to the banks and buy some rolls and ship to PCGS that day. Not much time for looking at them to find the high Grads as long as it's post mark that day you can get the lable its all about the lable.I am going out today to see if I can get some. Did he say how much its going to be per submission.

RYK · February 13, 2007 2:07AM

<< I'm just getting back in to coin collecting after many years(mid70s) and while I get the idea of grading and believe it is a necessity, but for the life of me I can't get the first day/strike/release labels....it just seems so HSN and cheesy with no real value added to the coin.... maybe it's just me. Of course I realize it's profitable for the slabbers, but does it help anyone else? >>

Nice knowing you.

Clemente was my favorite player of all time.

19Lyds · February 13, 2007 2:07AM

Is there an additional charge for the First Day of Issue label as there is on the First Strike labels?

Also, will the same pricing standards apply along with the minimum grade acceptable?

BigDaddyz · February 13, 2007 2:11AM

So you have to send them on the first day...you submit 100 coins in new rolls that you didn't get to cherrypick, only 20 of them make the grade, so you pay the penalty fee on the other 80. That gets expensive.

holeinone1972 · February 13, 2007 2:11AM

There seems to be almost no way to get these from the mint and labeled first day of issue. Banks may be the only option. So no proofs, because even if the mint sells them on the 15th, you know they are not shipping then, so they will not have the date of the 15th on it. So no chance at first issue.

TwoSides2aCoin · February 13, 2007 2:16AM

<< It may be a dumb question with an obvious answer but, from reading the OP it appears that the only way to get the "First Day of Issue" on the coin is to submit at least 100 coins. Is this correct?
I'm confused because with the 20th ann. ASE set one was able to send a single set into the bulk department. >>

just follow the rules, don't question them

Hi Ron.... I like it when you or Mr Hall post something out here. It opens up so many cans of worms.
LOL

Type2 · February 13, 2007 2:16AM

Yes, Banks!!! or HSN with specail shipping

19Lyds · February 13, 2007 2:21AM

<< So you have to send them on the first day...you submit 100 coins in new rolls that you didn't get to cherrypick, only 20 of them make the grade, so you pay the penalty fee on the other 80. That gets expensive. >>

Bulk is way different than regular submissions.

Call Bulk Submissions for prices.

<< There seems to be almost no way to get these from the mint and labeled first day of issue. Banks may be the only option. So no proofs, because even if the mint sells them on the 15th, you know they are not shipping then, so they will not have the date of the 15th on it. So no chance at first issue.
>>

Ron said nothing about a ship date from the MINT, only a shipping date of 2/15. This means, you go to the bank on the 15th, pick up your 4 rolls, fill out a submission form for the bulk program and then mail the unopened rolls on that day.

I would suggest buying 5 rolls so that you can see what grades to expect and what prices to pay.

Gemineye · February 13, 2007 2:27AM

****1. Tri-ViewTM Gasket (standard). All Presidential Dollars will be holdered with a new, three-pronged gasket. The coins will be oriented in the gasket so that the date and mintmark are clearly visible.****

Great idea PCGS.......

BECOKA · February 13, 2007 2:28AM

Don't forget that these have been for sale in-hand for several days on e-bay and many local coin shows have already had these for sale.

While it is morally wrong people have still obtained them out of greed so it is only people like us that can't take advantage of this first day thing without taking a day off of work to sort through hundreds of coins just for a few good examples.

Bear · February 13, 2007 2:40AM

I do not believe that the MS Presidential dollars

will be going anywheres worthwhile, regardless of the label.

After an initial bump, it will flat line. Better situations will become

clear by mid year. Hold on to your cash and be patient.

richardshipp · February 13, 2007 2:46AM

<< I do not believe that the MS Presidential dollars

will be going anywheres worthwhile, regardless of the label.

After an initial bump, it will flat line. Better situations will become

clear by mid year. Hold on to your cash and be patient. >>

It's usually wise to listen to a "wise old bear"...... (closest thing I could find to a bear

)

19Lyds · February 13, 2007 2:51AM

Funnier things have happened in the past old wise one.

basestealer · February 13, 2007 2:54AM

People say "buy the coin, not the holder", yet if any of these presidential dollars in a PCGS holder with a "first release" label sell for more than a dollar, that won't be the case. Does the holder add value to the coin? No. But you could argue the service must be passed along to the buyer--so let's add $10 to the $1 coin--I think $11 is a fair price. Anything above that is buying the holder, not the coin, no?

Bear · February 13, 2007 2:55AM

No guarantee offered or implied, with recomendation.

I believe that the Gold 1st Hags, may hold more promise.

BECOKA · February 13, 2007 2:55AM

<< I do not believe that the MS Presidential dollars

will be going anywheres worthwhile, regardless of the label.

After an initial bump, it will flat line. Better situations will become

clear by mid year. Hold on to your cash and be patient. >>

With a production run of 300,000,000 I don't doubt this wisdom. The point here is there is no room for following 1/3 of these rules.

Bear · February 13, 2007 3:05AM

I wonder if PCGS can make first strike, any more restrictive

on these coins. Perhaps postmarked before 12 noon on the 15th

and delivered in person, to Sir David of Hall's, home.

tmot99 · February 13, 2007 3:10AM

<< I wonder if PCGS can make first strike, any more restrictive

on these coins. Perhaps postmarked before 12 noon on the 15th

and delivered in person, to Sir David of Hall's, home.

>>

Is that 12 noon Eastern time or local time in California?

richardshipp · February 13, 2007 3:14AM

I don't believe the OP actually used those 2 words. It was more along the lines of "first day of issue" I think.

richardshipp · February 13, 2007 3:43AM

Oh.............. I killed the thread. Sorry.

19Lyds · February 13, 2007 3:47AM

<< 1. Tri-ViewTM Gasket (standard). All Presidential Dollars will be holdered with a new, three-pronged gasket. The coins will be oriented in the gasket so that the date and mintmark are clearly visible. >>

Looks like Ron needs some instruction on using the ™ mark?

1. Tri-View™ Gasket (standard).

Steve · February 13, 2007 4:37AM

As a collector and NOT a dealer I am very amused at how all of you out there are jumping around trying to get your hands on these new holders with the first day of issue labels. I bet that Shop at Home and Rob Chambers and the boys will get these to the public very quickly. Of course they will be NGC slabs and if Ron is right about PCGS new holders placement so mint mark can be seen, then maybe SAH will just buy out new holders from PCGS. No need to actually grade the coins either. NGC just calls them BU and they will sell like hot cakes.

As a collector I'll probably pick up ONE of these coins during the summer as a collectible. I figure it will cost me $25 for the chance, but that's OK. I do feel sorry for all the collectors out there who will run to EBAY and spend hundreds of dollars on these coins with no long term value. JMHO. Steve

LALASD4 · February 13, 2007 5:11AM

Coin King,

I have been waiting for your edgeview holder for this nickel. Would you slab it in your new holder at this time if I sent it in?

Thanks.

joeyuk · February 13, 2007 7:45AM

I was considering doing a bulk submission on these as they will sell them in NY at face on the 15th.
I thought First day of issue on slab would be cool. Unfortunately the bulk department is much too
busy to answer questions. I wanted to know about
How to submit them?
Pricing for stated grade?
Pricing for those that do not make the grade?

I think a bit of patience would be in order for someone who is purchasing their product.
I will purchase my 10 rolls at face and perhaps send something in in the future.

CoinKing · February 13, 2007 7:47AM

<< 

<< 2. First Day of Issue (optional). Presidential coins delivered to PCGS on the first official day of their release (February 15 for the Washington $1) or sent in sealed packages postmarked on that date will qualify for a special First Day of Issue designation. >>

Is there an additional charge for this?

Would a dated teller stamp or post office cancellation on a roll dated 2/15/07 allow me to take the rolls home, package them, then ship them on a later date? >>

There is no extra charge for the First Day of Issue or the custom inserts, but the coins do have to go through the Bulk Department.

The postmark has to be on the sealed package, not on the rolls themselves.

CoinKing · February 13, 2007 7:59AM

<< I'm just getting back in to coin collecting after many years(mid70s) and while I get the idea of grading and believe it is a necessity, but for the life of me I can't get the first day/strike/release labels....it just seems so HSN and cheesy with no real value added to the coin.... maybe it's just me. Of course I realize it's profitable for the slabbers, but does it help anyone else? >>

Simply put, the First Strike/First Day of Issue inserts are collectibles. Lots of companies, including the U.S. Mint, make money by satisfying the collecting urge. At least coins have an intrinsic or a face value. Many collectibles have none.

CoinKing · February 13, 2007 8:01AM

<< It may be a dumb question with an obvious answer but, from reading the OP it appears that the only way to get the "First Day of Issue" on the coin is to submit at least 100 coins. Is this correct?
I'm confused because with the 20th ann. ASE set one was able to send a single set into the bulk department. >>

Yes, you must submit at least 100 of the Presidential dollar coins to get the First Day of Issue designation. This is a change from previous policy.

CoinKing · February 13, 2007 8:04AM

<< Does this apply to both Proof & Uncirc's? >>

At this point, we are only talking about the Mint State Presidential Dollars. The Proof versions are at least a couple of months away and we're evaluating the options we'll offer on those coins. The Mint State coins had an official release date. Our experience is that the release dates for the Proofs is a moving target.

CoinKing · February 13, 2007 8:11AM

<< Coin King,

I have been waiting for your edgeview holder for this nickel. Would you slab it in your new holder at this time if I sent it in?

Thanks. >>

Your coin is a perfect candidate for the Tri-ViewTM gasket but, unfortunately, we don't have one yet in your size.

WinPitcher · February 13, 2007 8:16AM

i have had these coins for 3 days now. I did not know I was morally wrong and being greedy. i did afterall post a thread on the b/s/t forum that I could send rolls at cost to anyone.

My bank was not told to hold them until the 15th.

Steve

PCGS Guidance for Presidential Dollar Coins

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