An Old Question (or Debate) Renewed by BULLY

[CSJournals-migration]

Early Releases vs. First Day of Issue - Opinions Sought!

 

Once upon a time, when Early Releases or First Strikes were young and new, they seemed desirable to many collectors. Other collectors may not have cared, understandable.

 

The prevalence of such coins, however, often left a collector with a choice of buying a "plain" coin with no designation or selection an Early Released, First Releases, First Strikes coin for the same price. I can't speak for other collectors, but when the two were side by side, and the same price, I took the ER (or other) designation. It's worth noting that in the NGC Registry Sets, there was NEVER any point premium from NGC for any such designation, only the coin grade itself, that is what matters after all.

 

Now, the newer thing is "First Day of Issue" which is something that was previously never offered by NGC, nor I believe PCGS and was limited to ANACS or other 3rd tier grading services. Now that NGC is offering it, the question becomes: Is there anything MORE desirable from "First Day of Issue" (FDOI) compared to Early Releases, First Releases, First Strikes or those older and more familiar designations from NGC or PCGS?

 

Secondarily, if FDOI is more desirable, why?

 

Along the same lines, is the FDOI something that you'd select OVER the others ONLY for the same price?

 

Similarly, would you select the FDOI designation over a PLAIN/NO designation for the same price?

 

The BIG QUESTION: Would you pay more for a FDOI designated coin compared to a plain coin? How about compared to a coin designated Early Releases, First Releases, etc.? If you'd pay more, how much? For example, on a $35 coin, would you pay $40 or about a 15% premium? Feel free to try some other examples for yourself to craft your own reply.

 

For the record, I'm not trying to start a war here. I am, however, very curious about the opinion of my fellow collectors, investors, and collector-investors, because I was purchasing some coins, and I faced these questions, particularly the FDOI dilemma, and I found myself hesitant which caught me by surprise.

 

Let me close by saying that for today, on my birthday no less and after a several year self-imposed absence from the Collector Society, I absolutely and 100% will NOT be addressing the issue of "fashion" or otherwise "specialty" labels on slabbed coins, whether they have flags, photos, images of the very coin they hold, different color schemes, holders with different cores, etc. I learned more than a few years ago that the topic of "labels" is fraught with strife. I fear even the question I posed about the FDOI designation may be controversial, so I beg my fellow members that if there are differences of opinion, PLEASE let the discourse be civil, that is my birthday wish for the Collector's Society.

 

Mike B.

P.S. Here's a throwback to 1999, the first year of the State Quarters program, but curiously not issued by the U.S. Mint. Instead, here we have an Australian Kookaburra silver bullion coin with a U.S. State Quarter Privy Mark for Connecticut (my home state), featuring the image of CT's state quarter, the famous and historic Charter Oak. Tell me it's not JUST as cool in the plain old-fashioned brown NGC label? Be honest.

 

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[darryl f jones]

First Strike, Early Releases, First Releases and First Day of Issue all have the same meaning in that they were received by the TPG within the first 30 days of issue from the US Mint. The only advantage is the population report. The TPG population report numbers do not increase with these designated coins. All coins graded after the 30 day period has an unlimited population count, Registry points are assigned by the grade therefore the point system remains the same which makes it the collectors prerogative as to his/her preference. All my silver, gold and platinum coins are First Strike or Early Releases. I chose to collect them strictly because of the population report. I agree with you if given the choice and the price was the same I would opt for the designated label. Answer: I have paid higher premiums for those labels.

[Six Mile Rick]

I.M.O. --- the slabs are ALL the same.. If you were to offer a sell to a dealer more than likely MS68, MS68 Early Release, MS68 First Release and so on is a MS68 at the end of the day and nothing more!!!

Now --- If you were wanting slabs that are different and also carrying better value then PL and DPL, or FS and FT and others is the way to go for holding value. A signature slab on 3000 PF70UC's is surely not going to hold any value over the same grade PF coin.

Right??

 

A sales gimmick from big grading companies not only to offer a few extra points to the buyers but to entice the dealers to send in coins sooner and at larger numbers.

 

Ha!!!

[Conder101]

First Strike, Early Releases, First Releases and First Day of Issue all have the same meaning in that they were received by the TPG within the first 30 days of issue from the US Mint.

Not quite. FDOI actually means they received it on or it was postmarked on the fist day the coins were issued. But it still has NO relationship to when the coin was actually struck. It could be a coin from a new die that was struck the day before they were released, or a coin from an old worn die that should have been retired 50,000 coins earlier that was struck three months ago. You get it on the first day and get it to them it's supposed to be something special? Or say you get one on the first day but miss the postmark, Now it isn't a FDOI, even though you got it on the first day, but how has the coin changed? Isn't it exactly the same coin it was 24 hours earlier? And will be exactly the same coin 24 hours (or 24 years) from now.

[Lucky One]

without meaning to insult because I know you went into collecting with all the right, good intentions, I'll put it simple: there are suckers and there are thinkers. Posed with the same question long ago, I chose to ignore EVERYTHING but the coin itself. Go into each and every transaction to purchase the coin and only the coin, and always remember- opinions are free so why pay for them? I love the hobby and the history and I collect the coins. Too bad we need to slab 'em to put the in a registry set, but that is the grand scheme- hook you on the set, hook you on the slab. Hope you're having as much fun as I am, enjoy!

[RWB]

Remands me of the old debate: Is and FDC and FDC?

[jgenn]

an Australian Kookaburra silver bullion coin with a U.S. State Quarter Privy Mark for Connecticut (my home state), featuring the image of CT's state quarter, the famous and historic Charter Oak. Tell me it's not JUST as cool in the plain old-fashioned brown NGC label? Be honest.

 

I typically only buy coins that are my age or older (usually way, way older) but I admit, I bought a 1oz Silver 1993 Kookaburra in MS70 because I appreciate well executed bas-relief images of subjects that I like and the kookaburra has a meaningful relationship to the mint's home country and in silver and MS70 it might keep it's value over time.

 

Applying my criteria to your coin I only see silver bullion with a nice image of a kookaburra. I hope you really enjoy owning it and if you ever get a chance sell it for more than you paid, you probably should.

 

And as far as your original question, the only meaningful items on a label are correct attribution, grade and noteworthy pedigree.

[Lucky One]

the only meaningful items on a label are correct attribution, grade and noteworthy pedigree.

 

Couldn't have said it better- we should all put this on a plaque in large letters and hang it on the wall above our coin desk. Another should be displayed prominently beside it that says "Buy the coin, not the slab"