Pet Peeve: First Strikes

If ever there was a marketing scheme that get's my blood boiling, the
First Strikes designation by third party graders such as NGC, PCGS, and
ANACS would have to be it. So anytime I have an opportunity to educate
people about First Strikes, I like to take advantage of it. Maybe the
quicker people learn about them, the faster they will finally go away.

So here's an article in the coin section of About.com that you should
read about First Strikes.
http://coins.about.com/od/coingradin..._strike_co.htm

What they should do instead of First Strike they should designate "First to
Get It Sent In To Get It Graded". Wait that's to long! Ok, FTGISITGIG.
Damn still to long. Ok, First Strike.

What a joke. I guess their PR70 First Strike is a better grade than my
PR70. I know it won't happen but what we need to do is just STOP using
these grading companies. What bunch of crap. But of course their
laughing all the way to the bank at us!



"Goldbug" wrote in message
oups.com...
If ever there was a marketing scheme that get's my blood boiling, the
First Strikes designation by third party graders such as NGC, PCGS, and
ANACS would have to be it. So anytime I have an opportunity to educate
people about First Strikes, I like to take advantage of it. Maybe the
quicker people learn about them, the faster they will finally go away.

So here's an article in the coin section of About.com that you should
read about First Strikes.
http://coins.about.com/od/coingradin..._strike_co.htm

"????" wrote in message
...
What they should do instead of First Strike they should designate "First
to Get It Sent In To Get It Graded". Wait that's to long! Ok,
FTGISITGIG. Damn still to long. Ok, First Strike.

What a joke. I guess their PR70 First Strike is a better grade than my
PR70. I know it won't happen but what we need to do is just STOP using
these grading companies. What bunch of crap. But of course their
laughing all the way to the bank at us!



"Goldbug" wrote in message
oups.com...
If ever there was a marketing scheme that get's my blood boiling, the
First Strikes designation by third party graders such as NGC, PCGS, and
ANACS would have to be it. So anytime I have an opportunity to educate
people about First Strikes, I like to take advantage of it. Maybe the
quicker people learn about them, the faster they will finally go away.

So here's an article in the coin section of About.com that you should
read about First Strikes.
http://coins.about.com/od/coingradin..._strike_co.htm




As I understand it, the TPGs give the 'First Strike' designation based on
the post mark on the mint package so it's really 'First Mailed' isn't it?

You are correct. Its nothing more than a designation of when it was
shipped. It has nothing to do with the actual strike date other than it
was obviously struck prior to being shipped. The US Mint actually says
that they don't keep track of which coins are struck when and 50% of
the total mintage for the coin could have been struck before the coins
were even released.

So First Strike really means nothing yet people are paying premiums for
these because they obviously don't understand what they really are. So
make sure you buy the coin and not the designation. If you really want
the PR70, then buy it for that but don't buy it or pay a premium
because it says First Strike on the holder.


Brian Blackwell wrote:
"????" wrote in message
...
What they should do instead of First Strike they should designate "First
to Get It Sent In To Get It Graded". Wait that's to long! Ok,
FTGISITGIG. Damn still to long. Ok, First Strike.

What a joke. I guess their PR70 First Strike is a better grade than my
PR70. I know it won't happen but what we need to do is just STOP using
these grading companies. What bunch of crap. But of course their
laughing all the way to the bank at us!



"Goldbug" wrote in message
oups.com...
If ever there was a marketing scheme that get's my blood boiling, the
First Strikes designation by third party graders such as NGC, PCGS, and
ANACS would have to be it. So anytime I have an opportunity to educate
people about First Strikes, I like to take advantage of it. Maybe the
quicker people learn about them, the faster they will finally go away.

So here's an article in the coin section of About.com that you should
read about First Strikes.
http://coins.about.com/od/coingradin..._strike_co.htm




As I understand it, the TPGs give the 'First Strike' designation based on
the post mark on the mint package so it's really 'First Mailed' isn't it?

"Goldbug" wrote in message
oups.com...
If ever there was a marketing scheme that get's my blood boiling, the
First Strikes designation by third party graders such as NGC, PCGS, and
ANACS would have to be it. So anytime I have an opportunity to educate
people about First Strikes, I like to take advantage of it. Maybe the
quicker people learn about them, the faster they will finally go away.

So here's an article in the coin section of About.com that you should
read about First Strikes.
http://coins.about.com/od/coingradin..._strike_co.htm

First of all, let me make it clear that I have no desire to buy, sell, or
own so-called "first strike" coins of any kind.

Disclaimer aside, there is more to it than when the coin was packaged for
shipping. For example, in the study of early copper, one can examine ten
coins struck from the same die pair and form notions of their order of
striking. As the dies age and wear, the effects of this aging and wear are
often discernible on the coins themselves, allowing the sequence of issue to
be done. This procedure is the same one that gives up secrets such as the
fact that often large cents dated X+1 were struck before large cents dated
X.

Applying this same reasoning and practice to modern coins, one should be
able to examine a coin on the micro level and determine the condition of the
dies that struck it. The definition, then, boils down to "How many coins
have to be struck from a die pair before it is no longer considered a first
strike?" It would seem reasonable to define this question by saying that to
qualify as a "first strike" a coin must manifest none of the characteristics
associated with die wear and tear. Without knowing the answer to that
question, I would still say that the number is quite low, hence the
"condition rarity" and high prices paid for these coins. I would further
guess that the people who treasure them do so at least in part as a result
of knowing the precision of the numismatic detective work that goes into
assigning that designation.

Again, the foregoing does not in any way express or imply my approval or
disapproval of the practice. Besides, it's really none of my business what
somebody else spends his money on.

Mr. Jaggers

Once and for all let us look at what first means: Merriam-Webster Online
Dictionary 2 : something that is first: as a : the first occurrence or item
of a kind. With this being said, second place is the first loser. The
only first strike is the first coin off of that die and that's it! Anything
else is second, etc...

What we now need to do is sue PCGS, NGC, etc... for fraud. I saw the other
day a 1995 $50 Gold Eagle with a first strike designation. How in the HELL
are they going to tell me that they know that coin was a first strike????
What a marketing scam they have created and worse yet are those who fall
victims to this scam by paying premiums for what? Two words: First Strike.

"?????" wrote in message
...
Once and for all let us look at what first means: Merriam-Webster Online
Dictionary 2 : something that is first: as a : the first occurrence or
item of a kind. With this being said, second place is the first loser.
The only first strike is the first coin off of that die and that's it!
Anything else is second, etc...

What we now need to do is sue PCGS, NGC, etc... for fraud. I saw the
other day a 1995 $50 Gold Eagle with a first strike designation. How in
the HELL are they going to tell me that they know that coin was a first
strike???? What a marketing scam they have created and worse yet are those
who fall victims to this scam by paying premiums for what? Two words:
First Strike.

It is my opinion that when we denigrate what another person is collecting,
we only diminish ourselves.

Mr. Jaggers

Jaggers,

You must work for those sorry ass grading companies.

????

"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
...

"?????" wrote in message
...
Once and for all let us look at what first means: Merriam-Webster
Online Dictionary 2 : something that is first: as a : the first
occurrence or item of a kind. With this being said, second place is the
first loser. The only first strike is the first coin off of that die and
that's it! Anything else is second, etc...

What we now need to do is sue PCGS, NGC, etc... for fraud. I saw the
other day a 1995 $50 Gold Eagle with a first strike designation. How in
the HELL are they going to tell me that they know that coin was a first
strike???? What a marketing scam they have created and worse yet are
those who fall victims to this scam by paying premiums for what? Two
words: First Strike.

It is my opinion that when we denigrate what another person is collecting,
we only diminish ourselves.

Mr. Jaggers

"????" wrote in message
...
Jaggers,

You must work for those sorry ass grading companies.

Au contraire, mon ami, I wish you would calm down long enough to read what I
have written. Actually, I have mostly contempt for the slabbers, due to
their pandering practice of market grading, a contempt I have made no effort
to hide in these pages. There are well-thought-out, written and endorsed
standards that define the characteristics of each circulated grade, as well
as those of several flavors of uncirculated. I can't run with the
uncirculated pack dogs, but I can certainly tell a VF from an XF, something
the slabbers seem increasingly unable, or at least unwilling, to do.

In one of your previous posts you mentioned your desire to educate. But
first, please reread what I said about die states, and you will at least
have the rationale behind the practice you find abhorrent.

Me? Work for a slabber? Ha! Not in a million years would they hire ME, a
person who expects to see a full horn, including the tip, for a VF buffalo,
even on a 1926-S! Wait, maybe I'd generate more revenue for them, as those
half-horned buffs would keep getting cracked out and resubmitted in hopes of
the coveted VF grade. Come to think of it, I guess I'll put that on my next
resumé.

Jag

What they should do instead of First Strike they should designate "First to
Get It Sent In To Get It Graded". Wait that's to long! Ok, FTGISITGIG.
Damn still to long. Ok, First Strike.

That's hilarious. I can just picture it too -- laughing their asses
off.

What a joke. I guess their PR70 First Strike is a better grade than my
PR70. I know it won't happen but what we need to do is just STOP using
these grading companies. What bunch of crap. But of course their
laughing all the way to the bank at us!

Well PUT! -- and you had better believe they are. I've been saying this
ever since the grading companies and coin shows began forging markets,
assuming authority on values, and speaking for the hobby, but knew that
in time, people would stomp on it for the racket it is.

I still believe that most of the common stocks peddled by these
operations are specifically re-minted for it. That's why the suits have
to constantly remind their marks that laws prevent the mint (ahem) from
ever doing such a thing, and that NGC will guarantee the product
anyway.

Get rid of your graded garbage while you still have a shot at getting
more than you paid for it ... unless of course you bought it from a
coin show! HAHAHAHAHAHAHAHA