First Day of Issue Presidential Dollars

Currin

I need help from register members. I find this First Day of Issue Presidential Dollars as being very confusing. The more that look for help on the PCGS website, the more confused that I am. I need someone that can explain this process to me in very simple terms. I would like to start a register set of First Day of Issue Presidential Dollars. I thought that I could by purchasing the first day sets from the mint, and send them to PCGS through the collector submission program, but it appear that is not the case. Does it really require 100 coins through the bulk program? Or am I missing something. Also, according to the US Mint order site, The American J. Adams Series (other that rolls and bags) will not be available until June 12th. If so, then, how come some sets already have J. Adams certified? This makes no sense.... If someone does not mind explaining this process to me, I would be very appreciative… Thanks

wondercoin

The US Mint First Day covers appear to have coins in them struck on the the First Day of Production of the coin (i.e. months before the coins' release). The PCGS "First Day" slabs contain coins in existence on the First Day of Release of a given President. These coins could have been produced on the first day, the second day, or at any time prior to the release date for the particular President.

So far, the US Mint First Day Covers have proven very popular and, the PCGS First Day of issue coins have also proven very popular with collectors.

Does this answer it for you?

Wondercoin

WinPitcher

. Does it really require 100 coins through the bulk program?

If you send them in on the day of release yes it does, if you send them in at a later date you must send a sealed case of 1000.


You may want to just buy them off ebay already slabbed.

The program turned into a joke after the guidance was changed allowing sealed cases to be sent in at any time.

Thus a person could still send in Washingtons today and get FDI coins.

Steve

19Lyds

<< <i>. Does it really require 100 coins through the bulk program?

The program turned into a joke after the guidance was changed allowing sealed cases to be sent in at any time.

Thus a person could still send in Washingtons today and get FDI coins.

Steve >>



I wouldn't necessarily call it a joke anymore than being able to get First Strike designation on the American Eagle bullion coins. The biggest problem is that the presidential dollars box needs to be sealed so you have no idea what you'll end up with! For Eagles, a grade of MS68 for First Strike should cover the grading fees but a FDOI Presidential dollar at MS65 usually does not bring more than 5 or 6 bucks so it could turn out to be an expensive proposition!

My advice is to pickup 2 or 3 hundred on the release date and then pickout the best 100 if your going to do it at all. Otherwise, get them on EBay as advised.

pf70collector

You can ask for a minimum grade on these also which should cut down on the grading fees. 5% need to meet your minimum grade I believe. If not they are sent back with a no grade. You pay $2 for those that do not meet your miminum. Its no longer cost effective for me to ask for a grade below 66. Authorized Dealers I am sure get a better deal. Sending in a $1000 box and asking for a minimum grade is quite a lot of money unless you are hoping to get a few 67's. You might make out if you get a whole lot 66's but 65's will be a loosing propositon.

19Lyds

I dont believe that "Authorized" dealers get any better of a break on bulk coins than the rest of us.

As for the $2 charge on no-grade coins, if 60% or more coins meet your minimum grade then there is no charge on the coins that do not meet minimum grade.

As for sending in a $1,000 sealed box, I have no idea how this is worked since I believe the maximum number of coins for any bulk submission is 300 or 400. Perhaps multiple bulk submissions on 1 box. This is not a viable option for me so I have not looked into it.