First Strike Certification Questions

[JIM F.]

I know PCGS does, or at least used to, give "First Strike" certifications. Does NGC do this? Now the kicker, I have ninety-nine (99) 2006 Silver Proof sets I ordered the first day they went on sale. I have never opened the two FedEx boxes in which they were delivered (postmarked May 17, 2006). My questions:

 

1) Can these be certified "First Strikes" if I deliver them in the unopened FexEx boxes to PCGS and/or NGC?

 

2) Is there a premium for a "First Strike" certification, and assuming there is, is it worth it?

For that matter if not, is there reason to certify these at all?

 

3) There are also 2006 Proof $1 Eagles in the boxes, same questions as above.

 

Thanks for your opinions in advance.

 

[bsshog40]

I think NGC now calls them "First Day of Issue". I also think that there is a time limit when these were suppose to be submitted before they were given the designation. Sometimes there is a premium, but those that know coins, know that there really isn't much difference between one coin and another of the same. I think the designation is more market hype than condition. If it were me, I'd leave them in OGP. Probably be worth more in the long run unless a grade of 70 came out on most of them.

[JIM F.]

Good point, is there any reason to believe that early strikes are more likely to get a PF-70 designation? At one time I was told that if they remained unsealed the "First Strike" designation could be granted, but it would not surprise me if that had a time limit on it also.

Hope some experts can chime in on this topic.

 

[Schatzy]

First, there is a time limit which is usually a month.

Second, NGC puts Early Strikes on the label now.

Third, The First Day of Issue is only been used on the Business strike presidential coins and the new lincoln pennies.

Forth, there is no special label for the proof sets.

Fifth, you have to pay more for the special labels. ($2.50 more per coin)

 

The first day of Issue coins must be submitted (post marked package) on the day they came out.

 

[JIM F.]

OK. So seems to me that I have no reason not to open up the packages. Having said that, is there a reason to believe that I have an advantage in getting PF-70 grades on the coins since they were truly first strikes?? I am in no way a grader, so I can't make a judgment call by simply looking at them as to whether they have a shot of going PF-70.

 

 

[Schatzy]

Having said that, is there a reason to believe that I have an advantage in getting PF-70 grades on the coins since they were truly first strikes??

 

NO, just cause you bought it on the first day doesn't really mean that they are first strikes. They most likely already had few thousand sets made before they went on sale. The 2006 sets a pretty easy to get 70's and they really don't sell for a premium. Your lucky if you can sell the Roosevelt and Jefferson for what it cost you to get them grade.

 

[World Colonial]

There is no question as to whether the "First Strike" is hype or not, IT IS hype as there is no difference between these coins and another one of the same issue. And without the packaging, date stamp or whatever it is, no one would be able to tell the difference.

[JIM F.]

I like this spirited debate. Now what would YOU do if you had ninety-nine (99) 2006 Silver proof set sitting in unopened FedEx boxes postmarked May 17, 2006. Let me remind you, that these were ordered from the mint on the first day.

 

 

 

[WoodenJefferson]

 

You missed the window of opportunity for "Early Release" on those 2006 ASE's and even though you had the date on the package that falls with-in the parameters of an "Early Release" it has absolutely no bearing on what grade those bullion coins would receive.

 

The coins in your box were released by the Mint, not even early, but on time and on schedule, as the orders were placed.

 

Course now on e-bay you can write up any description you choose and you will have believers of what ever you say.

[World Colonial]

I like this spirited debate. Now what would YOU do if you had ninety-nine (99) 2006 Silver proof set sitting in unopened FedEx boxes postmarked May 17, 2006. Let me remind you, that these were ordered from the mint on the first day.

 

 

 

Well, it would depend upon why you bought them in the first place. But I am assuming that you did not do so because you liked them so much that you had to have that many for your collection.

 

If this is true, then presumably you bought them for speculative purposes. I do like these coins because I think they look great, but I do not buy any because I have other coins to buy with my money. Me, I would get rid of the proofs and keep the bsuiness strikes, though I cannot say what they sell for now and whether the prices are stronger or weaker than before.

 

If you want to own silver, I would keep the business strike issues and try to sell the proofs and buy the business strike counterpart (or other silver) with the proceeds.

[Jeffrey Cardona]

As the US Mint is concerned...there is no such thing as an "Early Release". They do not sell coins any sooner then the official release date.

 

It is strickly a MARKETING PLOY used by NGC. To get an "Early Release" designation for an SAE, the coin has to be submitted to NGC by a certain cut off date stated by NGC.

 

For example...I buy an SAE and you buy an SAE at the same time from the Mint and we receive them at the same time. I send my coin to NGC in the time frame NGC states and I receive the "Early Release" designation. You send your coin in the following year and do not get the special label. Is there any difference? Not one bit! The only difference is when we each submitted our coin. Nothing to do with the Mint...everything to do with NGC!

 

Cant really explain why the "Early Release" go for more $$$