I predicted something similar, when First Strike and 30 days become boring, I thought they might go with Very First Strike and 10 days. For the dollars they did one better and went to a one-day window. Right now it is paying off for both PCGS and the submitters, so again, marketing genius. Good for them. Someone likes them enough to buy them. Hard to see where they can go from one day, but I'm sure some smart folks are thinking about the next level.
As I have said before First Strike most likely means graded once. For top grade coins that is worth a premium over coins that may have been sent in ten times to make the grade. How much premium is up to each buyer, each date and mintmark. For First Day coins, a relatively high grade coin will almost certainly trade for a substantial premium over a regularly submitted coin after the first day. There is demand for such items and PCGS is finding a way to tap into it.
As always, the grading companies are primarily marketing companies. Understand that and almost everything else follows.
Big difference is that First Strike™ implies striking of a coin first, which is not known by a given certification service to necessarily be true. First Day of Issue™ implies the coin existed on its first day of issue, which the certification service can know to be true if that's when they saw it.
<< <i>For the dollars they did one better and went to a one-day window. Right now it is paying off for both PCGS and the submitters, so again, marketing genius. Good for them. Someone likes them enough to buy them. Hard to see where they can go from one day, but I'm sure some smart folks are thinking about the next level. >>
I will bet they are revising this first day thing as coinking could not get any rolls from his bank and basically got stuffed for a 'first day' 'first strike' whatever you want to call it.
I think it is stupid as the Mint does not track what was produced when. The stamp on the box means what day it was boxed! I purposely will not but First Strike for that reason, it means nothing. Thanks, Bob
Newbie to the hobby! Please feel free to prevent me from getting 'turf toe'.
Comments
As I have said before First Strike most likely means graded once. For top grade coins that is worth a premium over coins that may have been sent in ten times to make the grade. How much premium is up to each buyer, each date and mintmark. For First Day coins, a relatively high grade coin will almost certainly trade for a substantial premium over a regularly submitted coin after the first day. There is demand for such items and PCGS is finding a way to tap into it.
As always, the grading companies are primarily marketing companies. Understand that and almost everything else follows.
<< <i>Where is "First Day of Issue" printed on the slab ? >>
I agree...should say "First day" or "First Strike" somewhere on the label or its jsut a plain jane.
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
Thank You.
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>For the dollars they did one better and went to a one-day window. Right now it is paying off for both PCGS and the submitters, so again, marketing genius. Good for them. Someone likes them enough to buy them. Hard to see where they can go from one day, but I'm sure some smart folks are thinking about the next level.
>>
I will bet they are revising this first day thing as coinking could not get any rolls from his bank and basically got stuffed for a 'first day' 'first strike' whatever you want to call it.
I think it is stupid as the Mint does not track what was produced when. The stamp on the box means what day it was boxed! I purposely will not but First Strike for that reason, it means nothing.
Thanks, Bob