Watch it all the way through and note: They keep what they designate as the "first strikes" (and "last strikes") in their vaults for their records. They aren't released into circulation.
I never really understood the first strike thing anyway. Probably the same mentality that drives so many people to write "first" on an internet chat board.
From what I understand "first strike" doesn't really mean anything. Its just the batch of coins the TGP gets first... and has nothing to do when the coins were actually struck. Its just a way for them to get more of your money more or less lol
I agree, "First Strike" is just a marketing gimmick and has been since these labels came out. On the two unique A25 coins, they are all essentially "First Strike" coins as the production run of either coin probably took place within a single work day. Same goes for the 2010 ATB bullion. The label designation may make sense for a coin that's struck all year and in quantity like the bullion ASEs.
First strike is pure, meaningless nonsense. Great video, it confirms even more that FS is nonsense. I read somewhere that the TPG's are putting (W) mintmarks on West point monsterbox bullion silver eagles now like they've already done with the SF monster box coins.
If the mint wanted a mintmark on the coin, they would have put one on there! Same nonesense as FS designation.....meaningless.
Let us remember that the TPG's are out to create value for themselves more than anyone else. Vote with your wallet, don't buy it!
This is why I don't perticularly care for slabbed coins. I read in an old book where at one time NGC wouldn't grade late year proofs as it created false hype on common coins. Seems like they let money crush that standard. I can understand graded coins from an investment perspective on rare or old coins, but they are essentially creating a "rare" variety just with a label. Pure garbage in my opinion.
Quote: I defy anyone to tell the difference between the first strike off a die and the second strike, same at the end of the die life.
It's really simple. First Strike coins have that stamped accross the obverse and reverse. Same with second, third, fourth, etc. Gets sort of tuff when it's up to the billion mark though. Only it's done microscopically with lazers so you can't really see that without an electron microscope.
Quote: If the mint wanted a mintmark on the coin, they would have put one on there! Same nonesense as FS designation.....meaningless.
However, since our coins are all now minted in China, you would think they would now have "Made In China" stamped on them. This first strike stuff comes up really often and by now I'd think no one would be using that one and for coins any more. Of course that's like saying no one will use the word UNSEARCHED on ebay either.
the thing about it is, as long as people are paying extra for the TPG's to place that meaningless term on their label the TPG's will do it, and as long as customers pay more for the label with that term on it then the people submitting will keep paying the TPG's to do it. The only way to really stop it is to not buy the coins with it on their label. The only time the submitters will stop paying for the FS designation is when it becomes to be unprofitable to do so. If all of their material left over has FS on the label and the ones that have sold do not then they will stop having the FS put on there, so the customers is the blame for all of the FS stuff catching on like it has
I don't think it is really the customer, but the dealers such as the ones on TV that hype these up so much. The people that sit around and buy that crud drive that market more than anything. Just like gold plated State Quarters, they talk them up to being the best thing ever, and five years from now when those premiums are the exact same as ones without those first strike slabs, that is when it will hit home. Too many people buy that slab and no the coin.
According to this video "First Strike" is a Mint designation. The TPG product goes by the same name, but is demonstrably not the same thing. It's double-speak.
ive always since day 1 - the whole thing is such a "gimmick" reminds me of the days of the magazine wizard and all the chromium covers whereas wizard would be the TPG's telling everyone yes its rare and special you have to buy it now so lame
Quote: I don't think it is really the customer, but the dealers such as the ones on TV that hype these up so much
I guarantee if the customers refuse to buy these FS designation labeled coins the submitters will stop paying for it, so it definitely lies with the customers. If they want to stop the FS stuff all they have to do is let their money talk for them and the dealers will definitely listen
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Posted 02/05/2012 9:47 pm
