Labels and all the hype 0

[charlie 63]

The first thing to know is how coins are made , what process they go through and quality control. 

With that in mind, understand the US Mint strives to produce even quality coins from the first to the last. This was not always the case but is the norm now. So with laser etching and powerful presses and a quality control program they now produce tons of mint 70 and proof 70 coins.

Enter the LABEL . First strike , early strike  birth set etc... these coins were struck at the Westpoint mint but no mint mark... It does not mater! Why pay a premium for a coin that is unidentifiable without a label?  You take a bunch of identical coins and put them in different packages and that makes them worth 20% more? Almost as obnoxious as a CAC label , paying a premium to grade the grade! Now that is a slap in the face to NGC. I can understand on a real expensive coin you might feel its worth to have a second grade of the already heavily scrutinized grading , that may be worth a CAC label .  But without any other difference to a coin than a solid mint mark, why bother. With the exception of a signature.

I can buy a set of ms 69 ASE dollars for 2 thousand $ or a set of ms 70 for 20 thousand $... So what happens when my 20k set develops milk spots 5 years from now? 

  Bottom line buy the coin not the label!

[GoldFinger1969]

You make excellent points, Charlie. 

When I do buy moderns, I usually try for an MS or PF69 rather than paying up for a 70 unless the absolute $$$ or % increase isn't that big.

I will say that some of the labels on the modern coins -- like NGC's for the National Park Foundation Saint-Gaudens coins -- are very nice.  I probably am unique in that I like how the label LOOKS more than what it SAYS (except the grade). 

Edited April 9, 2021 by GoldFinger1969

[RWB]

I use these for my coin labels....

[Modwriter]

I label my 2x2 holders with Ultra Fine Point Sharpies.

[Henri Charriere]

On 4/10/2021 at 10:33 AM, RWB said:

I use these for my coin labels....

Dymo-mite!

[GoldFinger1969]

13 hours ago, Modwriter said:

I label my 2x2 holders with Ultra Fine Point Sharpies.

I use Crayola Crayons.......

[Morpheus1967]

 

On 4/9/2021 at 2:48 PM, charlie 63 said:

Enter the LABEL . First strike , early strike  birth set etc... these coins were struck at the Westpoint mint but no mint mark... It does not mater! Why pay a premium for a coin that is unidentifiable without a label? 

 

On 4/9/2021 at 2:48 PM, charlie 63 said:

But without any other difference to a coin than a solid mint mark, why bother. With the exception of a signature.

I can buy a set of ms 69 ASE dollars for 2 thousand $ or a set of ms 70 for 20 thousand $... So what happens when my 20k set develops milk spots 5 years from now? 

Bottom line buy the coin not the label!

So a signed label is ok, but not one that differentiates the mint where it was produced?  So it's basically just what you are interested in, or what you deem collectible, correct?  How are you going to differentiate the coin that was in a slab with a signed label if you crack it out?

I say to each their own.  

[Alex in PA.]

Labels on coin slabs are no different than labels on canned soup.  They are designed hopefully to attract the consumer to buy the product.  The problem with coin labels is:  different labels means a different price; but then that applies to canned soup also.   

[Rummy13]

I am new at this but let me understand something. You are saying that the same coin once you slab and grade it the same should cost the same price?  SO the 2021 ASE, one comes in a nice blue box, and one comes in the Congratulation Package, once they are put in a slab, you can not tell them a part, both are PR70, should be the same price?

[Alex in PA.]

26 minutes ago, Rummy13 said:

You are saying that the same coin once you slab and grade it the same should cost the same price? 

Who is saying this?  And what do you mean?

[Morpheus1967]

49 minutes ago, Rummy13 said:

I am new at this but let me understand something. You are saying that the same coin once you slab and grade it the same should cost the same price?  SO the 2021 ASE, one comes in a nice blue box, and one comes in the Congratulation Package, once they are put in a slab, you can not tell them a part, both are PR70, should be the same price?

Using your example, the 2021 Congratulation Set ASE is a West Point proof silver eagle.  The 2021 proof silver eagle that came in the nice blue box is a West Point proof silver eagle.  Literally the only difference between the 2 is the packaing they were issued in.  They are the same coin.  Once they are graded, you CAN tell them apart by what is written on the TPG label.  However, take them out of the slabs, and you won't be able to tell the two apart.

Same thing goes for struck at West Point, struck in San Francisco, struck in Philadelphia MS eagles.  The only way to tell them apart is by what is written on the TPG label.  Take them out of the slabs and they are identical.  

[GoldFinger1969]

4 hours ago, Rummy13 said:

I am new at this but let me understand something. You are saying that the same coin once you slab and grade it the same should cost the same price?  SO the 2021 ASE, one comes in a nice blue box, and one comes in the Congratulation Package, once they are put in a slab, you can not tell them a part, both are PR70, should be the same price?

Labels transmit information, specifically the grade assigned by the TPG.  That's important to most people and the market correctly (IMO) assigns a value to that.

A raw 2021 ASE in OGP -- even if everybody agrees it's a PF70 -- is probably not going to sell for the same price as a PF70 graded and slabbed (though some might want the OGP packaging which may or may not be available with the graded coin separately).

[RWB]

4 hours ago, Morpheus1967 said:

Using your example, the 2021 Congratulation Set ASE is a West Point proof silver eagle.  The 2021 proof silver eagle that came in the nice blue box is a West Point proof silver eagle.  Literally the only difference between the 2 is the packaing they were issued in.  They are the same coin.  Once they are graded, you CAN tell them apart by what is written on the TPG label.  However, take them out of the slabs, and you won't be able to tell the two apart.

Same thing goes for struck at West Point, struck in San Francisco, struck in Philadelphia MS eagles.  The only way to tell them apart is by what is written on the TPG label.  Take them out of the slabs and they are identical.  

One question is: Do such labels convey information that is of any real value - not simply restating what was on the original (free) packaging by transferring it to new (expensive) packaging?

Edited April 12, 2021 by RWB

[GoldFinger1969]

8 hours ago, RWB said:

One question is: Do such labels convey information that is of any real value - not simply restating what was on the original (free) packaging by transferring it to new (expensive) packaging?

They convey that the coin is the rare (?) PF70 UCAM, letting you jack up the price by 200%.