Psychology of first strike

[delta]

A research paper published last week may help explain the psychology behind the marketing success of so-called first strike coins, a situation in which some people are inclined to prefer them, even when that inclination is totally irrational:

 

LINK

[James_OldeTowne]

An EXCELLENT and very quick read for anyone interested in the whole "first strike" phenomenon.

[RWB]

The coinage issue is reinforced because the first coins (in the thousands) produced by new dies will have the greatest opportunity to display maximum detail.

 

It is the marketing name, rather than the artifact reality, that is perceived as better.

 

(The negative example was especially interesting.)

 

[HCumberdale]

To be fair, this article suggests that "judgments that are relatively devoid of conscious awareness will consistently reveal an effect in which firsts are considered best because firsts are privileged for several reasons."

 

The key here is that the judgment must be made without too much thought. Once participants were instructed to think carefully before making a decision the effect vanished. Presumably, collectors do put thought in what they want to collect, and so the phenomenon the authors describe doesn't really fit for the first strikes IMO.

 

Personally, I think the first strike phenomenon is better explained by the fact that humans are instinctively drawn to the "special" vs. the "normal." A relevant example would be the silver dollars labeled with the Binion pedigree. In my mind these are collected over a normal Morgan dollar for the sole factor that they are more special. Why is this so? Well never mind that, they just are. So too are the first strike coins.

 

Same thing goes for people collecting TPG state quarters only with the state seal label and such. Who cares about the state seal label? Those who want the "special" coins. And to be honest, if someone was giving me the coins for free and I could choose my label I'd probably choose the state seal label too, maybe even add the first strike to boot. Can I add a Mark Feld pedigree along with that please? I want REALLY special coins...

 

[RWB]

Not all states have seals....some have beavers, or moose or bears...

[L1ncolnF4n]

Awesome article!

[Keigwin]

To be fair, this article suggests that "judgments that are relatively devoid of conscious awareness will consistently reveal an effect in which firsts are considered best because firsts are privileged for several reasons."

 

The key here is that the judgment must be made without too much thought. Once participants were instructed to think carefully before making a decision the effect vanished. Presumably, collectors do put thought in what they want to collect, and so the phenomenon the authors describe doesn't really fit for the first strikes IMO.

I agree.

Lance.

[Mr.Mcknowitall]

To be fair, this article suggests that "judgments that are relatively devoid of conscious awareness will consistently reveal an effect in which firsts are considered best because firsts are privileged for several reasons."

 

The key here is that the judgment must be made without too much thought. Once participants were instructed to think carefully before making a decision the effect vanished. Presumably, collectors do put thought in what they want to collect, and so the phenomenon the authors describe doesn't really fit for the first strikes IMO.

 

Personally, I think the first strike phenomenon is better explained by the fact that humans are instinctively drawn to the "special" vs. the "normal." A relevant example would be the silver dollars labeled with the Binion pedigree. In my mind these are collected over a normal Morgan dollar for the sole factor that they are more special. Why is this so? Well never mind that, they just are. So too are the first strike coins.

 

Same thing goes for people collecting TPG state quarters only with the state seal label and such. Who cares about the state seal label? Those who want the "special" coins. And to be honest, if someone was giving me the coins for free and I could choose my label I'd probably choose the state seal label too, maybe even add the first strike to boot. Can I add a Mark Feld pedigree along with that please? I want REALLY special coins...

 

Why do I get the feeling that the discussion is about a Wedding and the physical state of the participants?

 

Respectfully, (I think)

 

John Curlis

[HCumberdale]

 

Why do I get the feeling that the discussion is about a Wedding and the physical state of the participants?

 

Respectfully, (I think)

 

John Curlis

 

huh?

 

 

[Mr.Mcknowitall]

Ignore, please.

 

Offense was not meant-comparison of life events that mimic and explain the need to have a first strike was the intent.

 

I never claimed that anyone but me would understand me.

 

Respectfully,

John Curlis

[James_OldeTowne]

The coinage issue is reinforced because the first coins (in the thousands) produced by new dies will have the greatest opportunity to display maximum detail.

Roger, is that perception or reality? I would have thought the very first strikes might be prone to lesser detail as the die pressure was not fine-tuned yet. Thus, maybe "second strikes" would be likely to receive the very strongest detail?

[RWB]

James,

The die setter makes all adjustments before production is begun. Any setup pieces are checked, then discarded. Die deterioration is more of an issue on older, vertical press coinage, and certain designs such as the Buffalo nickel.

 

 

[Conder101]

The key here is that the judgment must be made without too much thought. Once participants were instructed to think carefully before making a decision the effect vanished. Presumably, collectors do put thought in what they want to collect, and so the phenomenon the authors describe doesn't really fit for the first strikes

I'm not so sure because the aftermarket for first strikes doesn't seem to be that strong and is getting weaker with the passage of time. And if the collector knows that there is really no difference between two coins and that we really don't know which one was struck first, but this one has a label that says First Strike and it cost 10% more do they still really go for it? It seems to me that if they think over these factors they would be less likely to buy the First Strike. i think in a lot of cases the only reason people do buy them is because they think they will be able to sell them to other suckers at a higher price later. Not because they really care about them.

[BillJones]

The trouble with the "first strike" marketing strategy is that there is no evidence that the coins that get this designation really are the first pieces to come off the dies. Before the mint issues a coin, they strike a number of pieces prior to offering it. I am not a aware that the first coins to be shipped are the first ones that were struck. And since the mint maintains the quality of the dies for Proof and Uncirculated specialty coins at a high level, it's usually impossible to differentiate between early die states and late dies states. In other words what you are buying a marketing creation, not a numismatic die state.

 

My view of this is like the reaction of one of father's friends when he heard that some Texans eat rattle snake - "They needn't fix none for me!"

 

[Kurtdog]

In other words what you are buying a marketing creation, not a numismatic die state.

An illusion reinforced by a slab.