<< <i>So, can you send them in anytime if they are sealed to get the FDI? >>
Rules for presedential coin cover bulk submissions.-
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
Never teach a pig to sing. You'll waste your time and annoy the pig
For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin....
I put my order in on First Day, Backordered, I just collect for the fun and am not going to worry about what PCGS does with the 100 Set minimum bulk order. To me They are the First Strikes, unlike the FDI sets selling, as most people couldnt get them from Banks until Feb 16th So i don't know how so many people got them on the First day, Anyway that is my spin on things .Good Luck everyone
<< <i>I don't understand why anyone would break these out for grading, unless you are sure you have a 68+ or something.
If you get the FDI from PCGS all you will have is what there are already thousands of.
In my opinion, the MINT is saying these ARE ACTUAL first day strikes. NOT some made up label from a grading company, where the coins were minted over a number of days/weeks/months.
I think you keep these sealed, unopened. (each set comes in a sealed white cardboard envelop). That is what will bring the $$ on ebay.
But heh, that's just me, do what you want. >>
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep.
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
Casman where did you get this info from? Has PCGS released the details of the Prez proof submission program?
If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels, they will almost certainly tarnish the allure of the FDI designation. Penny wise, pound foolish (more cert fees now, dramatically less later - as many who submitted under orig rules will not submit again).
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions.
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels, they will almost certainly tarnish the allure of the FDI designation. Penny wise, pound foolish (more cert fees now, dramatically less later - as many who submitted under orig rules will not submit again).
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions. >>
The coin covers are giving you another opportunity to receive the FDI insert through bulk in case you were unable to get a bulk order in on the day the were made avaliable to the public. Alot of people were unable to get both P & D coins from the bank rolls on the FDI due to the geographical Federal Reserve Bank distibution. The coin covers contain legitimate FDI coins that were from the first day of production, unlike the FDI from bank rolls that could have been minted at any time prior tot he FEB 15th release date. The coin covers don't tarnish anything, on the contrary the add legitimacy and give more people an option to obtain the insert IMO. You can still send in the presedential dollars from bank rolls on the day they are issued if you decide to.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels... >>
But these are not just first day of issue, these are first day of production. Perhaps they should warrant their own label? (pssst... hear that PCGS?) >>
an actual 'First Day Strike' designation would go a long way.
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels... >>
But these are not just first day of issue, these are first day of production. Perhaps they should warrant their own label? (pssst... hear that PCGS?) >>
an actual 'First Day Strike' designation would go a long way. >>
If they did that alot of people would opt for that designation in lieu of the FDI.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement. >>
WOW, your right. My $10 is only for FS label. Add $5600 for grading. ===> $11,000 to get 100 sets (400 coins) graded FS. You'd have to sell them for $27.50 each or $110 a set to break even, plus add ebay and paypal fees. And that's just to break even.
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement. >>
WOW, your right. My $10 is only for FS label. Add $5600 for grading. ===> $11,000 to get 100 sets (400 coins) graded FS. You'd have to sell them for $27.50 each or $110 a set to break even, plus add ebay and paypal fees. And that's just to break even.
Good luck to who ever is doing it. >>
The $10 additional fee for the 'First Strike' designation applies on standard submissions which do not have a minimum quantity requirement. Bulk submission are all inclusive in the grading fee.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels, they will almost certainly tarnish the allure of the FDI designation. Penny wise, pound foolish (more cert fees now, dramatically less later - as many who submitted under orig rules will not submit again).
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions. >>
The coin covers are giving you another opportunity to receive the FDI insert through bulk in case you were unable to get a bulk order in on the day the were made avaliable to the public. Alot of people were unable to get both P & D coins from the bank rolls on the FDI due to the geographical Federal Reserve Bank distibution. The coin covers contain legitimate FDI coins that were from the first day of production, unlike the FDI from bank rolls that could have been minted at any time prior tot he FEB 15th release date. The coin covers don't tarnish anything, on the contrary the add legitimacy and give more people an option to obtain the insert IMO. You can still send in the presedential dollars from bank rolls on the day they are issued if you decide to. >>
So how many First Day coin covers would a person need? 50 or 100 total sets? 100 of each P&D?
Having Fun At Other Peoples Expenses, One Day At A Time!
Something does not add up, the coins were produced in Nov. of 2006, the covers were probably post marked as stated on 2/15. The coins and the covers were re-united during the next ~1.5 months, then went on sale 4/4.
I would have guessed, shipping could have started on 4/5 and 4/6 (not sure if they work on Sat.), only a few people have reported actual shipping on 4/5.
In my own case, the order # 24796XXX was placed at 12:01 PM on 4/4, at first, expected ship date was shown as 4/5.
The following day (4/5), the expected ship date was changed to; in-stock and reserved, no change in status as of today.
CC shows a pending transaction, but not completed.
It would seem these items should have been on a shelf, waiting for shipping labels to print out at the fulfillment center, then packaged and sent on their way.
<< <i>Something does not add up, the coins were produced in Nov. of 2006, the covers were probably post marked as stated on 2/15. The coins and the covers were re-united during the next ~1.5 months, then went on sale 4/4.
I would have guessed, shipping could have started on 4/5 and 4/6 (not sure if they work on Sat.), only a few people have reported actual shipping on 4/5.
In my own case, the order # 24796XXX was placed at 12:01 PM on 4/4, at first, expected ship date was shown as 4/5.
The following day (4/5), the expected ship date was changed to; in-stock and reserved, no change in status as of today.
CC shows a pending transaction, but not completed.
It would seem these items should have been on a shelf, waiting for shipping labels to print out at the fulfillment center, then packaged and sent on their way.
Does this seems reasonable? >>
They probably had only a portion of the 50,000 produced ready for shipping. Anything having to do with the presedential dollars is extremely popular ATM.-
Surprisingly, sales have been very brisk for the presidential first day covers. Anything Presidential $1 coin is selling better than expected and better than quarters. Forecast for GW rolls doubled. Now it's George W. who is incredibly popular so I'm sure that's the major factor driving the numbers, but subscriptions for Proof Presidents are over 250K - huge subscription number. Have to see what Adams does.
Remember not to open the sealed coin cover if you want to send them in for the FDI insert.-
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
Never teach a pig to sing. You'll waste your time and annoy the pig
Yowza, I don't have that kind of cash. Forget that idea. I'll just have to hold on to my 10 sets and see what happens with them. They are kinda cool after all.
Having Fun At Other Peoples Expenses, One Day At A Time!
<< <i>It would seem these items should have been on a shelf, waiting for shipping labels to print out at the fulfillment center, then packaged and sent on their way.
Does this seems reasonable? >>
Perfectly reasonable, if we weren't talking about the government. In my experience, the Mint almost never does the things that actually make sense...like making a product BEFORE they sell it.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
<< <i>Of course if 50 of us buy 1000 sets, we could corner the market. One day sell out !! >>
I ordered 2000 last night, then sent my buddy an email recommending he take a plunge here. He ordered 2000 this morning. We both did them in 50 per order increments.
What would happen if I had my dealer send 10 sets in, would they deny the First Day Issue designation even if they we're still in the original packing?
Having Fun At Other Peoples Expenses, One Day At A Time!
and what will you all do if pcgs changes thier position on this fdcc getting fdi designation?
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these.
<< <i>What would happen if I had my dealer send 10 sets in, would they deny the First Day Issue designation even if they we're still in the original packing? >>
I would imagine unless your dealer has 90 more sets to send in to meet the 100 coin minimum it wouldn't qualify for a bulk submission to be able to have the FDI insert. You can try asking the bulk dept. though.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>Of course if 50 of us buy 1000 sets, we could corner the market. One day sell out !! >>
I ordered 2000 last night, then sent my buddy an email recommending he take a plunge here. He ordered 2000 this morning. We both did them in 50 per order increments.
FloridaBill >>
Are you serious? I'm sure the Mint is happy. Congratulations, you are now the majority stock holder of the G.W. FDCC's .. ( I hope the stock starts paying a divident soon .. I only ordered 20 )
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>and what will you all do if pcgs changes thier position on this fdcc getting fdi designation?
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these. >>
What are you talking about? I'm talking the First Day coin covers, you must be mistaken. What else would I be talking about and why couldn't they qualify if I have 10 sets or 100?
Having Fun At Other Peoples Expenses, One Day At A Time!
first, pcgs will not take less than a 100 set submission for fdi designation - apparently - as some members have said on thier posts.....
personally, unless pcgs updates it's official guidance on the website, I wouldn't be so sure they are accepting any of these covers for fdi designation
the fdcc's have been real dogs since they started with these for the state qtrs in 1999-2000. most have not exceeded thier issue price.
i think the risk of that capital would have been much better spent on limited issues later this year. >>
Because they produced to dam_ many...100,000 per State Quarter for the first 4 or 5 years & then they reduced it to 75,000 & now the latest I believe is 30,000....
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
if you plan on using bulk for 100 or more sets/coins......plan on having them there for at least 2 months.
my submissions are still not done and they arrived in cali on 2/20. >>
No I'm not...gonna give 10 to the kids & grandkids as a stocking stuffer, along with the next 3 for this year (I may get them interested in coin collecting this way) & hold on to the other 10. Who know's they may become this years "sleepers."
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>and what will you all do if pcgs changes thier position on this fdcc getting fdi designation?
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these. >>
I would like it just fine--it is not the job or duty of PCGS to create scarcity. It is their job to accurately grade coins for what they are, regardless how many zillions of them are submitted. The FDI designation already means absolutely nothing and the market is already loaded with these things, and many collectors have no idea that so far all PCGS "first day productions" and "first strikes" may well be nothing of the sort.
if you plan on using bulk for 100 or more sets/coins......plan on having them there for at least 2 months.
my submissions are still not done and they arrived in cali on 2/20. >>
No I'm not...gonna give 10 to the kids & grandkids as a stocking stuffer, along with the next 3 for this year (I may get them interested in coin collecting this way) & hold on to the other 10. Who know's they may become this years "sleepers." >>
<< <i>first, pcgs will not take less than a 100 set submission for fdi designation - apparently - as some members have said on thier posts.....
personally, unless pcgs updates it's official guidance on the website, I wouldn't be so sure they are accepting any of these covers for fdi designation >>
This is the PCGS internal memo regarding the presedential first day coin covers I was given by the bulk department.-
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
Never teach a pig to sing. You'll waste your time and annoy the pig
basestealer....you are waaaayy off base.....pardon the pun
why do you think these designations exist ???????
the market is being made in these designations, whether we agree or not.
using fleabay as a guide does not make for a flooded market.
I would guess and say that w/o fdcc coins, there would be no more than 50,000 fdi labels......the rumored decision wreaks havoc with a very new designation and marketing strategy......people have to buy into it or they do not grade the coins.
you are very naive to think that this designation means nothing in the market place....just look at first strike labeling and how much $$ that brings.....
we have all been told to buy the coin, not the holder......
well boys and girls that has all just changed - whether we like it or not.
Comments
<< <i>So, can you send them in anytime if they are sealed to get the FDI? >>
Rules for presedential coin cover bulk submissions.-
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
and am not going to worry about what PCGS does with the 100 Set
minimum bulk order. To me They are the First Strikes, unlike the
FDI sets selling, as most people couldnt get them from Banks
until Feb 16th So i don't know how so many people got them on the
First day, Anyway that is my spin on things .Good Luck everyone
<< <i>Order Status: Your order request has been shipped. >>
<< <i>Both orders I placed on April 4th have shipped
<< <i>Order Status: Your order request has been shipped. >>
>>
Mine are still on order & reserved...
<< <i>I don't understand why anyone would break these out for grading, unless you are sure you have a 68+ or something.
If you get the FDI from PCGS all you will have is what there are already thousands of.
In my opinion, the MINT is saying these ARE ACTUAL first day strikes. NOT some made up label from a grading company, where the coins were minted over a number of days/weeks/months.
I think you keep these sealed, unopened. (each set comes in a sealed white cardboard envelop). That is what will bring the $$ on ebay.
But heh, that's just me, do what you want. >>
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep.
<< <i>
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement.
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
Casman where did you get this info from? Has PCGS released the details of the Prez proof submission program?
Thanks
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions.
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels, they will almost certainly tarnish the allure of the FDI designation. Penny wise, pound foolish (more cert fees now, dramatically less later - as many who submitted under orig rules will not submit again).
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions. >>
The coin covers are giving you another opportunity to receive the FDI insert through bulk in case you were unable to get a bulk order in on the day the were made avaliable to the public. Alot of people were unable to get both P & D coins from the bank rolls on the FDI due to the geographical Federal Reserve Bank distibution. The coin covers contain legitimate FDI coins that were from the first day of production, unlike the FDI from bank rolls that could have been minted at any time prior tot he FEB 15th release date. The coin covers don't tarnish anything, on the contrary the add legitimacy and give more people an option to obtain the insert IMO. You can still send in the presedential dollars from bank rolls on the day they are issued if you decide to.
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels... >>
But these are not just first day of issue, these are first day of production. Perhaps they should warrant their own label? (pssst... hear that PCGS?)
<< <i>
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels... >>
But these are not just first day of issue, these are first day of production. Perhaps they should warrant their own label? (pssst... hear that PCGS?) >>
an actual 'First Day Strike' designation would go a long way.
<< <i>
<< <i>
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels... >>
But these are not just first day of issue, these are first day of production. Perhaps they should warrant their own label? (pssst... hear that PCGS?) >>
an actual 'First Day Strike' designation would go a long way. >>
If they did that alot of people would opt for that designation in lieu of the FDI.
<< <i>
<< <i>
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement. >>
WOW, your right. My $10 is only for FS label. Add $5600 for grading. ===> $11,000 to get 100 sets (400 coins) graded FS. You'd have to sell them for $27.50 each or $110 a set to break even, plus add ebay and paypal fees. And that's just to break even.
Good luck to who ever is doing it.
<< <i>
<< <i>
<< <i>
<< <i>For the Proof Sets, you will need "100" coins of each president, so 400 total, you will only get the slabs back, no coins, and it will be $18 per coin.... >>
I didn't realize this.
I thought 100 coins total would work, thus 25 sets sent in, I have a 'pre-order' for 25, thinking I'd take a chance, but 100 sets I'm not doing.
400 coins at a minimum of $10 each = $4000 + $1500 for the coins is a minimum outlay of over $5500+. (ebay fees, paypal fees, etc)
You'd have to sell each set for $60 to break even. I think this is doable, expecially because you are bound to get some 70's. I think a FS PF69 set of all four coins could easily sell for $60. It's just $6K to find out is steep. >>
I believe I read somewhere PCGS will issue the 'First Strike' label for the presidential proof sets versus FDI insert since the proofs are only obtainable from the mint. You can send them in under any grading tier with no minimum required. The standard additional $10 fee for the 'First Strike' label would apply. For a bulk order, the 400 coins may be required since you can't mix coins to obtain the minimum 100 coin requirement. >>
WOW, your right. My $10 is only for FS label. Add $5600 for grading. ===> $11,000 to get 100 sets (400 coins) graded FS. You'd have to sell them for $27.50 each or $110 a set to break even, plus add ebay and paypal fees. And that's just to break even.
Good luck to who ever is doing it. >>
The $10 additional fee for the 'First Strike' designation applies on standard submissions which do not have a minimum quantity requirement. Bulk submission are all inclusive in the grading fee.
<< <i>I am afraid that the only winner will be the tpgs. >>
They, and the mint are the only SURE winners. If you want to play, you got to pay the piper.
<< <i>
<< <i>If PCGS is to allow coin covers to be submitted for the coins to receive FDI labels, they will almost certainly tarnish the allure of the FDI designation. Penny wise, pound foolish (more cert fees now, dramatically less later - as many who submitted under orig rules will not submit again).
I wouldn't be surprised if they reverse thier rumored position on coin cover submissions. >>
The coin covers are giving you another opportunity to receive the FDI insert through bulk in case you were unable to get a bulk order in on the day the were made avaliable to the public. Alot of people were unable to get both P & D coins from the bank rolls on the FDI due to the geographical Federal Reserve Bank distibution. The coin covers contain legitimate FDI coins that were from the first day of production, unlike the FDI from bank rolls that could have been minted at any time prior tot he FEB 15th release date. The coin covers don't tarnish anything, on the contrary the add legitimacy and give more people an option to obtain the insert IMO. You can still send in the presedential dollars from bank rolls on the day they are issued if you decide to. >>
So how many First Day coin covers would a person need? 50 or 100 total sets? 100 of each P&D?
the covers were probably post marked as stated on 2/15. The coins
and the covers were re-united during the next ~1.5 months, then went
on sale 4/4.
I would have guessed, shipping could have started on 4/5 and 4/6
(not sure if they work on Sat.), only a few people have reported actual
shipping on 4/5.
In my own case, the order # 24796XXX was placed at 12:01 PM on 4/4,
at first, expected ship date was shown as 4/5.
The following day (4/5), the expected ship date was changed to; in-stock
and reserved, no change in status as of today.
CC shows a pending transaction, but not completed.
It would seem these items should have been on a shelf, waiting for shipping
labels to print out at the fulfillment center, then packaged and sent on their way.
Does this seems reasonable?
<< <i>Something does not add up, the coins were produced in Nov. of 2006,
the covers were probably post marked as stated on 2/15. The coins
and the covers were re-united during the next ~1.5 months, then went
on sale 4/4.
I would have guessed, shipping could have started on 4/5 and 4/6
(not sure if they work on Sat.), only a few people have reported actual
shipping on 4/5.
In my own case, the order # 24796XXX was placed at 12:01 PM on 4/4,
at first, expected ship date was shown as 4/5.
The following day (4/5), the expected ship date was changed to; in-stock
and reserved, no change in status as of today.
CC shows a pending transaction, but not completed.
It would seem these items should have been on a shelf, waiting for shipping
labels to print out at the fulfillment center, then packaged and sent on their way.
Does this seems reasonable?
They probably had only a portion of the 50,000 produced ready for shipping. Anything having to do with the presedential dollars is extremely popular ATM.-
Quote:
--------------------------------------------------------------------------------
Surprisingly, sales have been very brisk for the presidential first day covers. Anything Presidential $1 coin is selling better than expected and better than quarters. Forecast for GW rolls doubled. Now it's George W. who is incredibly popular so I'm sure that's the major factor driving the numbers, but subscriptions for Proof Presidents are over 250K - huge subscription number. Have to see what Adams does.
--------------------------------------------------------------------------------
Both of the orders I placed on April 4th at Noon (ET) have shipped
<< <i>Both of the orders I placed on April 4th at Noon (ET) have shipped >>
Same here, I'll be holding them by 10:30 AM EST
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
<< <i>100 FDCC's >>
Yowza, I don't have that kind of cash. Forget that idea. I'll just have to hold on to my 10 sets and see what happens with them. They are kinda cool after all.
<< <i>It would seem these items should have been on a shelf, waiting for shipping
labels to print out at the fulfillment center, then packaged and sent on their way.
Does this seems reasonable? >>
Perfectly reasonable, if we weren't talking about the government. In my experience, the Mint almost never does the things that actually make sense...like making a product BEFORE they sell it.
<< <i>Of course if 50 of us buy 1000 sets, we could corner the market. One day sell out !! >>
I ordered 2000 last night, then sent my buddy an email recommending he take a plunge here. He ordered 2000 this morning. We both did them in 50 per order increments.
FloridaBill
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these.
<< <i>What would happen if I had my dealer send 10 sets in, would they deny the First Day Issue designation even if they we're still in the original packing? >>
I would imagine unless your dealer has 90 more sets to send in to meet the 100 coin minimum it wouldn't qualify for a bulk submission to be able to have the FDI insert. You can try asking the bulk dept. though.
<< <i>
<< <i>Of course if 50 of us buy 1000 sets, we could corner the market. One day sell out !! >>
I ordered 2000 last night, then sent my buddy an email recommending he take a plunge here. He ordered 2000 this morning. We both did them in 50 per order increments.
FloridaBill >>
Are you serious? I'm sure the Mint is happy. Congratulations, you are now the majority stock holder of the G.W. FDCC's .. ( I hope the stock starts paying a divident soon .. I only ordered 20 )
the fdcc's have been real dogs since they started with these for the state qtrs in 1999-2000. most have not exceeded thier issue price.
i think the risk of that capital would have been much better spent on limited issues later this year.
<< <i>and what will you all do if pcgs changes thier position on this fdcc getting fdi designation?
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these. >>
What are you talking about? I'm talking the First Day coin covers, you must be mistaken. What else would I be talking about and why couldn't they qualify if I have 10 sets or 100?
personally, unless pcgs updates it's official guidance on the website, I wouldn't be so sure they are accepting any of these covers for fdi designation
<< <i>good luck with 2000 of these.
the fdcc's have been real dogs since they started with these for the state qtrs in 1999-2000. most have not exceeded thier issue price.
i think the risk of that capital would have been much better spent on limited issues later this year. >>
Because they produced to dam_ many...100,000 per State Quarter for the first 4 or 5 years & then they reduced it to 75,000 & now the latest I believe is 30,000....
you cant give those things away at coin shows
I believe the Delaware and Pennsylvania covers were 50K then they pumped them up to 100,000 in 2000 with the NY quarter....again the greedy US Mint
<< <i>and they still aren't worth anything,
you cant give those things away at coin shows
I believe the Delaware and Pennsylvania covers were 50K then they pumped them up to 100,000 in 2000 with the NY quarter....again the greedy US Mint >>
Worth $.50 to me.
if you plan on using bulk for 100 or more sets/coins......plan on having them there for at least 2 months.
my submissions are still not done and they arrived in cali on 2/20.
<< <i>good one opa.....
if you plan on using bulk for 100 or more sets/coins......plan on having them there for at least 2 months.
my submissions are still not done and they arrived in cali on 2/20. >>
No I'm not...gonna give 10 to the kids & grandkids as a stocking stuffer, along with the next 3 for this year (I may get them interested in coin collecting this way) & hold on to the other 10. Who know's they may become this years "sleepers."
<< <i>and what will you all do if pcgs changes thier position on this fdcc getting fdi designation?
if they are to do it (grade them fdi)....how would you then like it if they allowed any mint product that was produced before the 2/15 date to qualify?
you ask what product? how about 75,000+ rolls of wash dollars in white mint boxes stamped with a packing date that may be earlier than 2/15.....
they have to draw the line now. otherwise, fdi designation will mean absolutely nothing and the market will be loaded with these. >>
I would like it just fine--it is not the job or duty of PCGS to create scarcity. It is their job to accurately grade coins for what they are, regardless how many zillions of them are submitted. The FDI designation already means absolutely nothing and the market is already loaded with these things, and many collectors have no idea that so far all PCGS "first day productions" and "first strikes" may well be nothing of the sort.
<< <i>
<< <i>good one opa.....
if you plan on using bulk for 100 or more sets/coins......plan on having them there for at least 2 months.
my submissions are still not done and they arrived in cali on 2/20. >>
No I'm not...gonna give 10 to the kids & grandkids as a stocking stuffer, along with the next 3 for this year (I may get them interested in coin collecting this way) & hold on to the other 10. Who know's they may become this years "sleepers."
Grinch
<< <i>first, pcgs will not take less than a 100 set submission for fdi designation - apparently - as some members have said on thier posts.....
personally, unless pcgs updates it's official guidance on the website, I wouldn't be so sure they are accepting any of these covers for fdi designation >>
This is the PCGS internal memo regarding the presedential first day coin covers I was given by the bulk department.-
<< <i>We will honor the First Day of Issue, but the submission has to meet the following criteria…
Through Bulk
Minimum 100 coins
No minimum grade
Flat rate of $12/coin
The packages they come in (see example below) are sealed, so we do not require that they send the external shipping box. (Customers do need to leave the cover in-tact—if they remove the coins, we will not honor the First Day of Issue.) They will *not* get the post-marked cover back.
If a customer has further questions, please transfer them to Bulk. >>
why do you think these designations exist ???????
the market is being made in these designations, whether we agree or not.
using fleabay as a guide does not make for a flooded market.
I would guess and say that w/o fdcc coins, there would be no more than 50,000 fdi labels......the rumored decision wreaks havoc with a very new designation and marketing strategy......people have to buy into it or they do not grade the coins.
you are very naive to think that this designation means nothing in the market place....just look at first strike labeling and how much $$ that brings.....
we have all been told to buy the coin, not the holder......
well boys and girls that has all just changed - whether we like it or not.
Until they update the official guidance that they released on 2/13 - an internal memo does not fly - and why would a customer have an internal memo?