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 Replies: 62 / Views: 6,518 |
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Pillar of the Community
United States
548 Posts |
Not trying to stir things up, but what's the rationale for the 1st strike fee?
Perhaps I'm missing something...
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Moderator
 United States
189185 Posts |
Quote:
Since most haven't got theirs back from grading....the peak for those "shouldn't" have happened yet correct ? I am inclined to agree. |
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Pillar of the Community
United States
4901 Posts |
Quote:
Not trying to stir things up, but what's the rationale for the 1st strike fee?
Perhaps I'm missing something... In theory, with most issues, it is believed that the first coins released are from fresh dies and are the better struck examples. With recent issues ( ATB pucks, 25th Annie) there is no way to know when the coins were struck since that are all made available at the same time. FS is a HUGE money maker that takes zero effort from the grading company. For printing two words on a label they charge MORE than the cost of actually grading the coin...dumb...BUT...collectors want those two words and are willing to pay for them soooooo cha-ching for the company. I should add I commend NGC for including the Early Release as part of their routine cost of grading these 25th Annie coins (and only charging $1 to return the packaging)...No problem if I'm not paying for those two words  |
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Pillar of the Community
United States
4901 Posts |
Quote:
Since most haven't got theirs back from grading....the peak for those "shouldn't" have happened yet correct ?
And "long term" value is still an unknowable factor I assume too. In watching prices for graded sets over the last two weeks the actual peak was around 10 days ago (when the dealers had their sets up for sale) NGC MS/PF 69 sets were in the $1300-1400 range..now under $1000 MS/PF 70's were around $2300-2400 now below $1700 My opinion is that these will drop a bit more as all these graded sets hit the market...good time to buy..bad time to sell The same thing happened with the 20th sets but that took longer since they were on sale for a while and had MANY more minted. I bought many NGC 69 sets for around $160 2-3 months after issue (and made over 100% selling those) These have become a long term hold and most likely will not see a price rise for many months BUT the patient will be rewarded because, due to the large number of open boxes, the available graded complete sets will be in high demand by the huge number of ASE collectors out there... If you have a box of 5 graded...by all means sell a couple of sets to get your money back. Then you can sit back and watch your "free" sets rise in value... Sorry for being so wordy..... |
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Pillar of the Community
United States
548 Posts |
Nah. Not wordy. A great post.
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Pillar of the Community
 United States
6326 Posts |
So in about a month, when my two sets come back from grading, it will likely be a HORRIBLE time to sell one of my sets.... GREAT ! .....   So, the "graded" MS/PR 69 Sets are almost the same price now as the "raw" Sets were going for ? ($800.00) I'm assuming my likely scenario will be :One or two of the five ASE's will be 68's mixed with the others being 69's for each of my two graded sets. Hopefully I can switch them around enough to make at least "one" Set all 69's. Since I've already spent.......let's see.... $600.00 on the two Sets (plus shipping).......$500.00 PLUS something on the grading total cost........and if I want to make all of this money back, AND have one Set for free........ummmm......yeah.....I'm gettin' a headache now......  I have to sell "ONE" set for somewhere between $1,100.00 - $1,200.00...... JUST TO BE EVEN ! .... And re-coup my money back that I spent here......with nothing gained (except for my one set !) And if I keep the best set for myself.......in about a month or so....for a set with one or two coins only grading 68.....and the rest grading 69's..... I'm looking at what kind of value ? .....( predictions ?) (Assuming the market will be absolutely FLOODED in about a month, when I get my sets back.)Around $900.00 if I'm REALLY lucky ?
Less than $800.00 ?
Less than $700.00 ?I think I may be gettin' a good grouch on now for the rest of the week ! .......  I'm sensing that this whole 25th Anniversary Set ordeal may NOT be working out for me as much as I'd hoped it would..... |
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Pillar of the Community
United States
4901 Posts |
Eaglefoot...short term you won't clean up on these but long term you have a winner. But..... I did notice something odd today with sales...NGC 69 sets were selling higher than PCGS 69 sets. Last sale of each: PCGS $841 NGC $1050 At that price you will do much better parting them out.. PCGS MS69 S last sold for $450 PCGS PF69 RP last sale was $381 That is just about what that whole 69 set sold for and you have 3 coins left over to sell to collectors... The dynamics of this will be changing on a daily basis but the victors by far are the dealers that got their sets out for sale before us plebs even submitted them...1% vs. the 99%  Edited by Foxwoods Man
11/30/2011 09:40 am
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Pillar of the Community
United States
548 Posts |
Tell ya what, Eaglefoot: how about you see me one of those sets for what you paid for them from the mint? I'll even pay your grading fees. See? You'll come out even. What a deal! |
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Pillar of the Community
United States
6326 Posts |
......I don't think that "solution" would make the wife very happy still ! .....  And we all know .........it IS about keeping the wife HAPPY ! When the wife's not happy...... NOBODY'S happy ! |
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Pillar of the Community
United States
2734 Posts |
Good things come to those who wait: There will be a high population of PCGS 70 Sets, all of which should be slabbed and back to their owners by the end of the year, just when they need to pay their holiday bills.  Which means ebay will have a boatload of PCGS 70 Sets after New Year's. |
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Pillar of the Community
United States
6326 Posts |
Quote:There will be a high population of PCGS 70 Sets, all of which should be slabbed and back to their owners by the end of the year, just when they need to pay their holiday bills. Which means ebay will have a boatload of PCGS 70 Sets after New Year's Driving the price down I assume....demand/interest will be met easily during this time. Problem here is, " I'LL " be one of those people with "Holliday Bills" ! .....  It's "after this" that you think another "peak" might happen then ? Or I wonder when " I " should sell my, most likely graded, MS/PR-69 Set ? Or are we talking a year or more ? The wife is wanting a very QUICK turnaround for recouping the money spent.....I'm having a hard time convincing her that waiting for a distant future time, would be most profitable. She doesn't want to gamble. Whatever money can be made once I get them back....that's what she thinks I should do. I need advice to convice her "otherwise" !Problem is.....this is kind of "unknowable" for a "future sale" isn't it ? At some point, I have no problem showing her these threads on "what I should do". I just hope it leans towards what " I " want to do, and that's just sit on them and hold them. But we could use a financial "boon" right now........so selling my one available set will have to be done, it's just a matter of choosing the wisest time to do it. I wonder if "Craigslist" would be better than ebay ? ....  Coin shop ? Not really sure of the best way for me, when it comes time. Edited by eaglefoot
12/01/2011 09:04 am
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Pillar of the Community
United States
4901 Posts |
I really think you have to wait and see what you actually get for grades and decide then. Planning what to do with your 69 set is a bit premature because you don't know if your even going to get that 69 complete set....(maybe 70 ;) ) AND what they will be selling for when you get them back many days from now.
I did see a report of PCGS grades posted today that actually got a no grade "Genuine-cleaned" slabbed W coin back FROM A SEALED MINT BOX submission....
Yes.....cleaned....direct from the Mint
Go figure.....THAT was worth all that cash for grading
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Pillar of the Community
United States
1796 Posts |
Guys, first off get it's name correct. It's "First Strike®" (note it's a registered trademark of PCGS; which is what makes it absolutely ridiculous).
It is a PCGS designation that describes no intrinsic attribute or quality of the coin, itself. Twenty years from now if you were to put a Silver Eagle next to a "First Strike®" Silver Eagle without taking into account those few words written on the slab there would be no difference between them at all and for all you know, could have been minted within the first however many days as well.
First Strike® is one of PCGS's big moneymakers now because they charge an extra fee, it costs them nothing more than a few micrograms of ink, and makes the coin sound more special or important (which it isn't). In truth, it makes about as much difference as calling a cashier a "customer service associate" does. They're still sitting behind the same till.
Don't buy into these speculative schemes. In my opinion, it dilutes the hobby and insults the trade.
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Pillar of the Community
United States
2734 Posts |
The "First Strike®" designation is completely ridiculous for a Set of coins that sold out in a few hours.  Actually, eaglefoot, selling your other Set raw might not be such a bad idea. I just saw a PCGS First Strike "69" Set (theoretically the best "69" Set you can have) sell on ebay for $874. Not much of a premium when raw Sets in OGP are going for a bit over $700. After the "holiday bills" set in , "69" slab Sets (esp. NGC or ANACS) without OGP could actually be worth less than raw Sets with the OGP. This is why I've bought extra 25th Anniv. empty OGP box/COA's, and I've already used one box in a rather creative manner. That's why sending your Set to a TPG is a gamble. You better pray they all come back 70.  Even now there's a fairly high pop of 70's on ebay (even PCGS First Strikes), and after the holidays, there will be many more. Edited by DNA
12/01/2011 1:29 pm
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Pillar of the Community
United States
1255 Posts |
Eaglefoot - I was in the same boat as you. I got lucky and ordered 2 - A25 sets from the mint. Still kicking myself for not ordering 5. Anyways I have never had coins graded either and went through all of things you have so far. I joined PCGS for $49, waited on my forms from them, and then sent in my coins for grading. I think I spent around $1000 for coins, shipping, and grading. I sent my coins in on 11/16, by 11/22 they were sending me back my OGP. I didn't ask for it back, but heard you should indicate that and I sent them an email. They sent back a reply stating it was already part of the order. So I didn't have to pay anything extra to get the OGP back. On 11/28 I received an email that the grades were available. I didn't bother going to their website to look at them, I wanted to be surprised when I opened the box. I received the coins yesterday on 12/1. So just a little over a 2 week turn around from time sent. A lot quicker than I imagined. Here are the grades I received for my 10 coins:
2011 - MS69
2011 - MS69
2011 S - MS70
2011 S - MS70
2011 W - MS69
2011 W - MS69
2011 W - PR69DC
2011 W - PR70DC
2011 P - PR69
2011 P - PR70
So I received 4 - 70s ( 3 key coins ) and the rest 6 - 69s
I purchased a 2011 - 70 this morning, so all I need now is a 2011 - W 70 to complete my perfect set. Then I will have another set that is 69 with one key coin 2011 S in there at 70.
So I just wanted you to have an idea of what I received back from PCGS, I hope your luck is as good as mine or better! Let us know how it turns out.
Teach
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Posted 11/29/2011 2:22 pm
