"Early Releases" label gripe and a suggestion
numismapiddler
Posts: 79 ✭✭
First, thanks to our host for providing this forum free of charge to everyone.
I do have a gripe about these "Early Releases" labels from the various TPG services. What is the point of this? There is absolutely no difference in an "Early Release" coin and the same coin of the same grade in a regular holder. These coins are not even necessarily the first ones minted. They are simply the first ones shipped. In actuality, they may be the last minted depending on how they are stored at the distribution center, since the first minted are likely at the bottom of the stack.
as an alternative, I would much rather see a "From OGP" designation rather than "Early Release" "Early Strike" etc. This would have some nominal value to me as a collector as I would know the coin came straight from the mint and directly into the holder.
Comments
The labels exist because people pay money for them. I agree with you completely, but if I have any available, I have no problem taking extra money for them.
I agree with your point about the label designation... however, it is a marketing tool that seems to generate some premium value. Cheers, RickO
They are coin slang for "Early Submission," normally within 30 days of mint release. PCGS has its own version, "First Strike."
NGC started out in 2006 with "First Strikes" (for one year only) but I believe was forced to change it because it was very close to a competitor's early submission label.
You are not the first nor likely the last to "gripe" about this on the forum. The TPGs are likely looking at the overall mintage when they say Early Releases or First Strike.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The business of coins is about making money. As long as there are people who are willing to pay premiums for things such as "first strikes" or "early releases" such things will proliferate.
If you you don't like such things ... just say no and ignore them and, especially, their premiums.
I do ignore them. I think they are just plain silly.
Of course, if you had told me 30 years ago you were going to put water in a plastic bottle and sell it for $1 I would have said you were a fool. So, what do I know?
I sold a 2009 UHR once way back when I collected such things. I worked out a verbal deal with a dealer at a show. He saw it and paid more than agreed because it happened to be in a first strike holder. Made no difference to me, but I pocketed the money. Funny hobby sometimes.
A dealer paid more than agreed?? My brain just crashed...
One has to imagine that special labels are a nice profit center. You see it on first strike issues. You see the signature labels (mint director, JFK signature). You are also seeing custom labels for special collections (Hansen, Pogue). Demand for the service is there, profit is easily realized, and the implementation costs are minimal.
Thus, a smart business practice.
Like diamonds, "labels are forever."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
collectors of a slabbed series tend to want the same labels for their collection. Once they buy into a special label many of them are trapped.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If the host can make money on these labels, great for them. I won’t be paying for them, but am glad others are.