First Strike Eagles coins more scam then not?
Griv
Posts: 2,804 ✭
Maybe it took the Presidents Series and the FDI to clarify this issue that seems to suggest that the First Strike Program is going the way of sub-pime mortgages but with a higher percentage of debt. Consider early FS Silver Eagles that sold for $3,500 and above now valued at $40. Is this another lesson in buying the coin and not the plastic? What does this mean to CAC? Games? Politics? Who knows.
Rumor has it that the top FS Eagle Registry Sets are considering this same dilemma and may pull their sets as well.
Rumor has it that the top FS Eagle Registry Sets are considering this same dilemma and may pull their sets as well.
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Which is why I personally supported PCGS NOT including the coins in the registry a few years ago when I was asked about the coins by PCGS, which, IMHO, saved countless collectors countless thousands upon thousands of dollars. Good job PCGS! Wondercoin
<< <i>If they want to price these coins at $40 then fine but they need a place in the Registry for any coin they've graded First Strike including the 2005 Gold proofs. How many of those do you reckon are out there in PR70DCAM???? >>
Gardnerville, NV
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NO (and if you don't know it "First Strike" doesn't mean first struck).
Hopefully not the price guide.......................I for one am grateful that these have been included but the prices are simply not right. Both you and I know what a 1993 FS Silver Eagle goes for in MS69. Many have been sold on teletrade for over $1,000.
The name is LEE!
The name is LEE!
statement regarding new policy..
Therefore a flood of 2004 ASE should now qualify for the grade.
The coins I have in ms 70 have no milk spotting at all.
Good luck.
Effective June 28, 2007, PCGS began grading Mint State Silver American Eagles for the years 2006 and 2007 based on their condition at the time of grading, without regard to the probability of future spotting. In the past, PCGS was reluctant to grade any Silver Eagles MS-70 because of the significant possibility of future milk-spotting on the surfaces of the metal, which often seem to appear after the coins are minted and even after they have been graded. While milk spots are still an issue for Silver Eagles, the quality of the 2006 and 2007 Silver American Eagles is fantastic and the coins merit consideration at the top grade of MS-70 (the PCGS grading standard for MS-70 requires “flawless surfaces under 5x magnification”).
<< <i>PCGS expects to find a fair number of MS-70 examples of the Silver American Eagles, based on the quality of the coins submitted thus far. >>
<< <i>the quality of the 2006 and 2007 Silver American Eagles is fantastic >>
<< <i> PCGS was reluctant to grade any Silver Eagles MS-70 because of the significant possibility of future milk-spotting on the surfaces of the metal, which often seem to appear after the coins are minted and even after they have been graded. While milk spots are still an issue for Silver Eagles >>
Is there a contradiction in these statements? (The loosing of grade reflects the future of the MS70 ASE..) was it only for fear of milk spotting?
Non milk spot coins should cross! I implore you to break out your 10X microscopes and look for flaws in your ASE collection. You know have the standard that exceeds all expectations of the 5X test...
In order to find the average total of the so called fair Number that should exist, its time to make the comparison.
The 2006 estimate comes in at an average of 4% out of 158059 coins graded.
The 2007 comes in at an average of 5% out of 92566 coins graded.
The 2008 comes in at an average of 9% out of 64991 coins graded.
The 3 year average total comes in at 5% out of 315616 coin graded.
For the year of 2004 2.2% come in at MS70 out of 81013 coins graded.
Its a reasonable assumption that the 2004 ASE was of slightly lesser quality, and 2.2% seems Like the, so called fair Number that should exist. Thats More than 50% less then the total average # of coins graded for the 3 previous years. IMO it is now a fact, and by merit should reflect in the population report..
<< <i> the quality of the 2006 and 2007 Silver American Eagles is fantastic and the coins merit consideration at the top grade of MS-70 >>
IMO this statement should merit all previous years according to the new standard.
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
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Gardnerville, NV
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Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
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Like the old Addams family trading cards. You dont need the gum, just the card.
How much can be debated for a long while.
Gardnerville, NV
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Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
Check it out --> Our eBay Auctions
I believe that what Griv is alluding to is that, even though there is a "Silver Eagles Complete Set with First Strikes™, Circulation Strikes and Proof (1986-Present)"
and
PCGS has graded First Strike SAE's prior to the implementation of the program in 2005,
those First Strike™ slabs are NOT included in the registry. Yes you can register those coins but they have no weighted value's.
From my standpoint I simply do not understand why not.
After all:
o The coins did meet the stated requirements for the designation.
o Someone did spent a lot of money to get the coins graded as First Strike slabs. (A sealed box of 500 can get a bit pricey even in bulk)
o Someone else then turns around and buys these First Strike™ coins, usually paying a premium depending upon the populations.
From my stand point, if PCGS is going to grade pre-2005 SAE's as First Strike™then I see no reason why they do not have weighted values in the First Strike™ Registries.
The name is LEE!