C'MON NOW!

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FIRST DAY OF ISSUE LABEL?

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namvette68

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I was fortunate enough to have purchased the 2019 enhanced SAE  on opening day. I sent it in sealed mint packaging for the FDOI label and the COA number. 

I am now told I cannot get a FDOI label. Why? If there was a 1 per household limit, did dealers send these in bulk to obtain one?

Here is just one listing from a familiar place:

 2019 S SILVER EAGLE REVERSE ENHANCED NGC PF 70 FIRST DAY OF ISSUE 5826281-003 OGP AND COA INCLUDED

More than 10 available? I rest my case.
 
QuantityMore than 10 available

FDOI Label.png

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As far as how the dealers got 10+ when it was one per household? Simple: You make people an offer that if they buy it and resell it to you you'll give them a mark-up of a certain percentage or amount over their cost to buy. They make all of their employees order one and resell it to the company. There are plenty of ways.

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I understand how it is done, but the coin is obviously FDOI pedigree, and I cannot get it? One label will not break NGC. I guess I will have to beg someone that has the label. It will still be "my coin", regardless. Just a bit upsetting that all members are not entitled.

NGC Cert #
5826281-003
NGC Description
2019 S Eagle First Day of Issue S$1
NGC Grade
ER 70
Pedigree
COA No. 25444
Label
First Day of Issue

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From NGC's page:

"NGC offers the First Day of Issue designation for select coins that are purchased within one day of the first day that a mint makes a new coin issue available for sale. In most cases, NGC will make the First Day of Issue designation available only to submitters of bulk quantities or at select trade shows. In cases where the First Day of Issue designation will be available instead to all submitters, an article with submission instructions and grading fees will be posted to the NGC website prior to a coin’s release. In all cases, the First Day of Issue designation is available only by special request and will require a higher grading fee."

"To qualify for First Day of Issue, coins must be purchased within one day of the first day that a mint makes a new coin issue available for sale and must be received by NGC or an NGC-approved depository within one week of the release date. NGC will require that the submitter provide adequate evidence (including purchase receipts) to demonstrate the date when the coins were purchased."

Their rules just are what they are. *Shrug*

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The whole first day of issue, first strikes, and early release labels are scams. The coins are not any different but somehow have gained a premium?????   Buy the coin not the label/plastic. By the way  Welcome home Brother.

Edited by rons

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1000% agree with you rons.  The whole first strike label is especially scammy, because it is literally impossible to know what coins were struck first.  The mint strikes a certain amount, in this case 30,000, but releases them all at once.  How can you possibly know what coins were "first strikes"??  Somebody tell me if i'm wrong...

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2 minutes ago, Naked Angel said:

1000% agree with you rons.  The whole first strike label is especially scammy, because it is literally impossible to know what coins were struck first.  The mint strikes a certain amount, in this case 30,000, but releases them all at once.  How can you possibly know what coins were "first strikes"??  Somebody tell me if i'm wrong...

Which is why "Early Releases" replaced "First Strike" over 10 years ago.

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1 hour ago, Naked Angel said:

Thanks Revenant, I didn't realize it has been that long.

I'm pretty sure the last year was either 2005 or 2006 for NGC.

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I find those labels annoying actually. I have a few yearly sets and I like the holders to match ( for the most part.).. Having a complete set of Burnished ASE's SP70's but one of them is in a weird blue labeled holder does not give the set the orderly feel I like...…. ( I also have a complete Proof Ike dollar set but 2 of the labels are "photo labels" and the coins are in the holders backwards.

I've written posts about the annoyance of some foreign coin sets where 25 of 30 coins put the queen's bust on the label side but 4 or 5 coins have the reverse on the label side???? Makes no sense.....

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11 hours ago, jackson64 said:

I find those labels annoying actually. I have a few yearly sets and I like the holders to match ( for the most part.).. Having a complete set of Burnished ASE's SP70's but one of them is in a weird blue labeled holder does not give the set the orderly feel I like...…. ( I also have a complete Proof Ike dollar set but 2 of the labels are "photo labels" and the coins are in the holders backwards.

I've written posts about the annoyance of some foreign coin sets where 25 of 30 coins put the queen's bust on the label side but 4 or 5 coins have the reverse on the label side???? Makes no sense.....

Yeah... All the label variations make it very hard to make a set with consistent look / presentation unless all of the coins are slabbed / acquired in a short span of time. With modern sets that are issued over 10 years like the presidential dollars or the Queen's Beasts it seems nearly impossible. Even the generic gold / brown labels change design too often for that.

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Since these new coins had a numbered COA, they should have gave FDOI labels to what ever that first day produced, say the first 1000 coins. No mater who gets the coin, that way Normal Joes like me can actually get a FDOI with out spending Gobs of Money!  They should do that moving forward, Numbered COA's and the First 1000 coins or whatever that first day makes, gets the FDOI

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The Mint issued 30,000 Silver Eagles in one day! All should have been eligible for a FDOI label, if the sealed package was received , intact, by a third party grading company. There were no "bulk" submissions. Dealers seem to rule when it comes to who gets what, and how many. Mine is for sale.

2019 S EAGLE FIRST REELEASES ENH REV PF 70  OBV  4757777-001   001.jpg

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