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First Strikes... Will this matter in the future?
JoeForex
Posts: 90
anyone think this will effect the value of the coin in the future. Do you believe a high grade with the first strike sticker attached will be more appealing than the same coin with a higher grade?
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If it ain't about the money lord knows i've gone insane
If it ain't about the money lord knows i've gone insane
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And it doesn't now.
The gulliable public will continue to get taken by these Vultures <sigh>
Just kidding, I have no interest in this stuff at all! I also think the "First Strike" thing is demeaning to the hobby.
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
It is a marketing device. If the collecting public likes it it will be successful and will bring premiums, especially from people who buy from TV coin sellers.
The fact is it does make a difference in sale price today. Whether it SHOULD is greatly debated---whether it DOES is clear.
I don't see a problem. PCGS states first strikes are coins sold in the first month of release. Big deal
Collectors that want that label should already be aware that it means only that.
Delusional people might think the are buying the first coins off the presses But like the saying goes" there is one born every minute. "
The Government should cash in on the craze and offer a first strike of the die coins or first 100 coins coin or number the coins by the batch.Then they could jack up the premium and offer the chance to buy them by lottery drawing. Now that would be a gas:
And I really agree with what he said!
<< <i>anyone think this will effect the value of the coin in the future. Do you believe a high grade with the first strike sticker attached will be more appealing than the same coin with a higher grade? >>
Whether you like it or not, “first strike” designations demand a premium over non first strike and have for years. Therefore, if you plan to hold on to your coin until death, it doesn’t make any difference, but if you plan to sell it at one point in the future, it does make a financial difference. I’m in for the “buck” & if I have a choice, I’ll take the “First Strike” over the non first strike any day. The coin is only worth what some one else is willing to pay for it & if “First Strike” is a selling tool .. why look a gift horse in the mouth?
Don't you like the cool flag?
It is not just moderns. If there were something similar for classics, odds approach certainty that the coins with the "graded once" label would trade for significant premiums over the other coins.
If offered two coins for the same price, I'll pick First Strike every time, unless the coin is clearly inferior, and that is rarely the case with moderns.
<< <i>Yes, it matters now, and it will matter more as time goes on. Why? Because first strike means almost certainly graded once. Which would most collectors prefer a coin that makes the grade on the first try, or one that makes the grade on the fifth resubmit? I know which I want, and am willing to pay more for that.
It is not just moderns. If there were something similar for classics, odds approach certainty that the coins with the "graded once" label would trade for significant premiums over the other coins.
If offered two coins for the same price, I'll pick First Strike every time, unless the coin is clearly inferior, and that is rarely the case with moderns. >>
Just because it is first strike does not mean it was only graded once. You can send it in for re-grade and keep the first strike label.
<< <i>Yes, it matters now, and it will matter more as time goes on. Why? Because first strike means almost certainly graded once. Which would most collectors prefer a coin that makes the grade on the first try, or one that makes the grade on the fifth resubmit? I know which I want, and am willing to pay more for that.
It is not just moderns. If there were something similar for classics, odds approach certainty that the coins with the "graded once" label would trade for significant premiums over the other coins.
If offered two coins for the same price, I'll pick First Strike every time, unless the coin is clearly inferior, and that is rarely the case with moderns. >>
This sounds an awful lot like the gambler's fallacy. The probability that a coin c will receive grade g on submission n should be independent of any previous grades.
Ed. S.
(EJS)
<< <i>Yes, it matters now, and it will matter more as time goes on. Why? Because first strike means almost certainly graded once. Which would most collectors prefer a coin that makes the grade on the first try, or one that makes the grade on the fifth resubmit? I know which I want, and am willing to pay more for that.
It is not just moderns. If there were something similar for classics, odds approach certainty that the coins with the "graded once" label would trade for significant premiums over the other coins.
If offered two coins for the same price, I'll pick First Strike every time, unless the coin is clearly inferior, and that is rarely the case with moderns. >>
I'm sorry, but I think this has absolutely no merit whatsoever.
If it ain't about the money lord knows i've gone insane
Short term, yes to some.
Long term, to fewer.
Longer term, who knows? Crazier things happen all the time and also repeat themselves.
<< <i>i didn't mean to upset anyone but I did enjoy it >>
If all first strike buyers read what the mint said about the so called first strikes, no one would buy them and they would be much more upset
Actually, I am just as concerned about the microscopic differences between ms-69 and ms-70 bullion coins. As far as I'm concerned, an ms-65 bullion coin (if one were to exist in such a lowly state of preservation!) would be perfectly acceptable.
As people finally figure out that these were nothing more than marketing hype, I think it will matter less and less and less and less and less and less - ad infinitum.
I never have and never will pay a premium for a First Strike coin holder. In fact, I only have one for my holder collection and I paid market for it.
Note how quiet PCGS has been on the topic - that speaks volumes.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Also look at the FS Buffalo Gold in MS. These are going for about the same in FS and non FS.
Although with a much lower population the FS Buffalo Gold in Proof is selling at a substation premium especially in PR70.
The equality is getting much closer.
<< <i>Yes, it matters now, and it will matter more as time goes on. Why? Because first strike means almost certainly graded once. Which would most collectors prefer a coin that makes the grade on the first try, or one that makes the grade on the fifth resubmit? I know which I want, and am willing to pay more for that.
It is not just moderns. If there were something similar for classics, odds approach certainty that the coins with the "graded once" label would trade for significant premiums over the other coins.
If offered two coins for the same price, I'll pick First Strike every time, unless the coin is clearly inferior, and that is rarely the case with moderns. >>
BUT, can't you tell a low-end coin from a high-end coin? Why do you need the label to tell you that? If you can't tell the difference between a low-end coin and a high-end coin then maybe you shouldn't be concerned about it in the first place.
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
It will only matter to those who are ignorant of the true meaning in why they were labeled as such. Word spreads fast and a public dealer would lose face very fast selling them otherwise. Sellers on the internet may take longer to realize this. In the end, the last cat holding the bag will be the source from whence they were manufactured.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Especially for those graded 69 that have not milk spotted and its only a question of time before PCGS includes all the other First Strike coins in the registry set instead of just the 2005 and 2006.
Collecting First Strike labels has nothing to do with coin collecting but eveything to do with collecting the slab. Plain and simple.
The name is LEE!
Not to me, meaning I would like to have a few first strike slabs, but I would not pay a premium for them!
2006-W 20th Anniversary Gold Eagle PR70DCAM $50 from the 20th Anniversary Set
The "First Strike" label is worth thousands over the non-First Strike
I kick myself in the A$$ daily for not getting one when the price was right.
Well spoken! I know that I hope for a future numismatic community that doesn't put value into gimmicky marketing, but I also don't put much faith in that ever happening..