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PCGS say First Strike must be requested and cost $10 per coin
aficionado
Posts: 2,309 ✭✭✭
anybody heard of this?
here's a quote from Ron Guth, I guess he's the President, but he must not know what's going on:
"To qualify as a First Strike, the coin must 1) be submitted to us within 30 days of the release date or 2) come to us in a package postmarked by that date or 2) come to us anytime later in a Mint-sealed box with the slip showing an issue date within the 30 day period (these are the usual requirements for First Strike program). "
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Ron Guth
President
Professional Coin Grading Service
www.pcgs.com
So basically Ron is wrong. You must specify you want a First Strike designation and then pay $10 per coin.
Does NGC charge for this also ??
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Comments
Will’sProoflikes
Russ, NCNE
<< <i>What, precisely, is he wrong about?
Russ, NCNE >>
Ummmm..... the fact that those parameters allow for coins that could be struck at any die state?
<< <i><< What, precisely, is he wrong about?
Russ, NCNE >>
Ummmm..... the fact that those parameters allow for coins that could be struck at any die state? >>
The First Strike designation on the label has never had anything to do with die state.
Russ, NCNE
<< <i>What, precisely, is he wrong about?
Russ, NCNE >>
Ron Guth forgot to mention that you had to include an extra ten bucks to get this phoney designation.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>No, but thats the inferrence that 99% of the people buying these believe. >>
Maybe so, but that still doesn't explain what Guth is wrong about.
Russ, NCNE
"to qualify" I think makes the statement.
how about
4) it must be specified on your form that you want First Strike.
5) you must pay $10 per coin.
To just submit your coin within 30 days DOES NOT QAULIFY you for First Strike.
This is all fine, if those are the rules, but it's not stated on their website and Ron didn't know about it. $10 wouldn't have matter to me and I easily could have written it on the form.
And I agree with how significant the designation is, but if the coins are there, why not get it.
Besides, I kind of like the little flag.
<< <i>To just submit your coin within 30 days DOES NOT QAULIFY you for First Strike. >>
Ah, so Ron is "wrong" because he provided the criteria for qualifying for first strike, but didn't specifically state that you have to request it.
Russ, NCNE
<< <i>
<< <i>To just submit your coin within 30 days DOES NOT QAULIFY you for First Strike. >>
Ah, so Ron is "wrong" because he provided the criteria for qualifying for first strike, but didn't specifically state that you have to request it.
Russ, NCNE >>
Yep,
Why wouldn't I think that sending my coin it within 30 days would get the First Strike. I have absolutly no reason to think otherwise.
Maybe 'wrong' is not the right word, but I'm still blaming him.
This is also a heads up for everyone, so you all know what to do.
The guy did say I could send it back, pay shipping both ways, and add $10 to get First Strike. But what a pain.
Will’sProoflikes
Last time I checked part of the requirement was that you had to submit at least 100 coins in addition to the other requirement to get the first strike label.
1. It is a $10 designation fee
2. It has to be in its mint wrapper
3. It has to be within 1 month of the release, ends in July.
4. You must ask for the designation.
5. Nothing said about quantity.
I had already sent an MS $50 Buffalo for the CC Special, but after speaking to them about getting the designation, they confirmed by e-mail that they would be adding the Designation service to my submission.
I guess they allow single submissions, rather than bulk only.
I sent in a few within 5 days of release, not realizing you had to request it.
All came back in regular PCGS slabs.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>Last time I checked part of the requirement was that you had to submit at least 100 coins in addition to the other requirement to get the first strike label. >>
That's for dealer bulk submissions who aren't ponying up the extra ten bucks.
Russ, NCNE
<< <i>
<< <i>Last time I checked part of the requirement was that you had to submit at least 100 coins in addition to the other requirement to get the first strike label. >>
That's for dealer bulk submissions who aren't ponying up the extra ten bucks.
Russ, NCNE >>
Nope, its about an extra $4 or $5 dollars. Even then with the limited mintages of these coins I can't see there being much of a difference for First Strike. It's just a label. If the Mintages were in the millions then I could see it.
Ed. S.
(EJS)
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
It's a shame, IMHO, that the leading TPG is playing this dishonest game, and I do think it is dishonest to label a coin "FIRST STRIKE" when it is simply "FIRST MONTH".
I for one, hope and trust that the words PCGS puts on its holders mean something. The more this kind of hollow profiteering appears on PCGS holders, well, you get the idea, sorry for the rant.
Sorry, Russ, you're wrong to even stand up for this charade by correctly indicating that Ron didn't fib. That's not the issue. I bet Ron is not proud of this side of the PCGS business plan. I know I'm not. Rob
Questions about Ikes? Go to The IKE GROUP WEB SITE
<< <i>To just submit your coin within 30 days DOES NOT QAULIFY you for First Strike. >>
Yes it DOES. To Qualify means "to be eligible for". If you submit it within the 30 days it IS eligible for first strike designation. It is also eligible for regular submission. So you have to ASK for First Strike. Telling them which service you want is not a qualification just normal instruction.
The $10 is not a qualification either, simply a fee.