2022-W Proof Gold Buffalo - PCGS Advanced Release
ProofCollection
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Saw this "Advanced Release" offered at APMEX. What is "Advanced Release?" Is this coins released at a show? How would Advanced Release compare to First Day of Issue? Seems like the Advanced Release would precede the first day of issue and actually be the first day of issue. APMEX puts a $1300 premium on the AR vs the FDOI. That's got to be pure profit just for being special enough to get an Advanced Release? What does it take to be eligible to receive an advanced release from the USM?
https://www.apmex.com/product/252128/2022-w-1-oz-proof-gold-buffalo-pr-70-pcgs-ar-black-diamond
Per USM, the release date is May 12.
Does this mean that APMEX was able to get their coins before May 12? And if so will that reduce the amount of time for First Strike eligibility?
So many questions...
Comments
My question is, who wants one badly enough to pay that kind of premium? The original issue price is stiff enough, laying aside the special label artificial rarity premiums that will in most cases never be regained when sold down the line.
RIP Mom- 1932-2012
OK, I found some answers at theCoinVault.com.
> While the Numismatic Bulk Purchase Program is a well-established program, it opened the door for the Mint to create a new program called the Authorized Bulk Purchase Program (ABBP). This system allows those qualifying bulk purchasers to order a limited number of numismatic Mint products prior to their official release date. Stipulations include being an active member of the existing Bulk Program, having a two-year consecutive revenue average of at least $500,000 a year, and compliance with the Mint’s returns policy. Not all numismatic products are offered through this new elite program and discounts and shipping do not apply. Authorized Bulk members who qualify for this program must pick up their own products at the Mint’s fulfillment center three days prior to the official release date.
So there we go... 3 days before the release date. Seems to me that would make FDOI not really FDOI and first strike deadline should be 27 days after the release date. Could that be a possible class action lawsuit for FDOI buyers?
I believe Advance Release is reserved and sold to a small set of authorized dealers. Sold before available to the public, but not released until available to the public. They may get sent directly to graders in the gov't pkg, and these "special" people get that text in their holder labels.
Another ploy for people who collect the plastic / label and not just the coin IMO, separate them from their ca$h.
(Unlike 1st Day of Issue or 1st Strike which I believe you or I can get on our labels, if we follow the rules.)
Mint press release about the ABPP ...
Another treasure for label collectors. Cheers, RickO
Another profit making scam for sure. FDOI is no longer as claimed to be. The intention and the way these are sold is they were the first coins available. Just another BS scam in my opinion. To be honest they now have to be called
"FDOI after Advanced Release" or at least "FDOI after official release" Just calling them FDOI now is just a lie period.
All that is needed is a generic slab to authenticate the coin and it's condition.
A fool and his money are easily parted for BS labels and slab inserts.
Hmmmm. FDOPA, First Day of Public Availability?
Yeah I think PCGS can get in legal trouble using FDOI for anything other than an Advance Release coin.
Well y’all were too slow on the cherry pick, APMEX is now sold out!
yet they were all likely struck on the same day. lol
It will happen suddenly
All that is needed is a generic slab to authenticate the coin and it's condition.
The AR Big Man and Buffalo are back!
Wow ! A $ 2,000 slab. The slab costs more than the spot price of 1 oz of gold. Does not take much financial knowledge to
Premium price for a premium slab.
know which end of the stick you are getting.