The First Strike desination
That designation should not exist!!!
(Poll at bottom)If you think about it, this question will pop into your head. What exactly is a First Strike? If the term "First Strike" was in the dictionary it would read:First Strike (adj.)- a term used by certain third party grading services to help coin dealers make a large profit on thier coins.If you think about it a first strike is a PCGS designation given to coins that come out of the coin presses in the first month. Just because a coin was minted in the first month doesn't make it a first strike a first strike. For example, over 300 million of the the new presidential dollar coins came out in the first 2 weeks!! I would not classify that as a first strike. on top of that, a person that is VERY important to numismatics said the designation shouldn't exist. That person happened to be the founder of PCGS himself. The only thing that really makes the designation worth while is the premium that dealers make on them. For example, in an August 2006 issue of COINage magazine the 2006 24Kt 1oz $50 Buffalo gold piece in PCGS MS-70 First Strike was going for $ 200 more than a not First Strike one. That's $200 for a two word designation!! That's $100 a word, or $18.18 a letter!!!! The point I'm trying to make is that the First Strike designation should not exist....yet. In the future it might be a good idea for the mint to take the first 100 or so of the coins of a series and sell them for a higher premium.Perhaps a designation of something like it is in order. Perhaps instead of "First Strike" it should be "Early Stike". NGC has already taken steps against this problem and have changed their first strikes label to Early Releases, will PCGS do the same?Now what do you think?A.) The First Strike designation shouldn't exist overall.B.) The First Strike designation should remain. C.) The First Strike designation should have a change in the title.Please E-Mail your response to:Eatoncoinman@Yahoo.com
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