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 Replies: 11 / Views: 14,773 |
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Pillar of the Community
United States
5207 Posts |
I personally dislike these "gimmick" labels and if any non basement slabber would have been the first to do something like this my money would have been on ICG would have been the one to do it. This sort of reminds me of the TV talk show wars of the late 1980's / early 1990's with Phil Donahue, Rickie Lake, Sally Jesse Raphael, and Richard Bay where they took the low road with the who's you babies daddy, trash talking, and such themes. Even Oprah got in on it for a while. I'm surprised that all 3 top TPG's have taken that same low road trying to dupe the general public into believing the hype. I'm sure they are all about making money but I feel one needs to stand up and do the right thing and hopefully the rest would follow. I wonder if I can get one of the TPG's to give me a First Strike, Early Release, and First day of issue since my Ellis Island half is still sealed in the OGH and certified by the post office. Heck, if ANACS can use "First Day Of Issue" on their holders I think mine predates theirs and is actually a true first day of issue as listed on the envelope.    EDIT: it looks like ICG did have a "First Day Of Issue" home shopping network designation like ANACS does. I guess that further fodder for that lawsuit.  Edited by jack jeckel
05/09/2015 10:32 pm
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Pillar of the Community
United States
797 Posts |
I find all the special designations interesting. I completely see TPG in order to verify genuine coins, asses a grade, allow sight unseen purchases, and other benefits of slabbing. However, I personally could not care less about "first strike", "early release", "me first", and what ever other designations they each use. For whatever reason, people are willing to pay a premium for these coins so if there is money to be made then there will be a creator and a buyer. It seems like lots of people get into it and want them as an investment or a flip. I can't blame them if they want to make a little profit, but I do think it gets a little crazy and takes away from the hobby/enjoyment aspect when people get all caught up in buying numerous sets in order to find a 69 or 70 coin (or whatever grade they are after) and people worrying about sending the coins in, jumping through the hoops with the timing and unopened boxes and such, along with paying a chunk of money to have these designations...but that is just me. Obviously there is a market for them, I just think it is kind of silly. |
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Bedrock of the Community
United States
17884 Posts |
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I personally dislike these "gimmick" labels and if any non basement slabber would have been the first to do something like this my money would have been on ICG would have been the one to do it PCGS was the first to do it in 2005. |
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Moderator
 United States
23522 Posts |
The Bad Word Filter prevents me from stating my opinion of the practice.
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Pillar of the Community
 United States
4591 Posts |
There is a historical precedent, and it's not a good one. There used to be a collectable of "first day of issue" stamp covers. You would read about a new stamp issue in the hobby pub, and put an envelope addressed to yourself, along with the cost of the stamp and put those into a bigger envelope addressed to the postmaster of the zip code where the stamp was to be issued. The postal employees would attach the stamp to the envelope, carefully apply a special "First Day of Issue" cancellation to it and the US Mail would deliver your collectable - all for the cost of the stamp. Well, that was a lot of work. So starting in 1941, services started up to do the hard work for you. And you didn't have to put your address on the envelope. And what had been a rare collectable became available for a simple subscription fee and in the thousands and hundreds of thousands. They also added special commemorative art work to make it even more special. Sound familiar? They sold special albums to display and store these collectables. Sound familiar? Fast forward to today... They list in the catalogs for $1 or $2 or $3 each and dealers pay 10-20% when buying. see: http://www.stampcommunity.org/topic...PIC_ID=20933-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
9792 Posts |
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The Bad Word Filter prevents me from stating my opinion of the practice. I second that!   "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Pillar of the Community
United States
7390 Posts |
Money, money, money, money, money. It's all about whatever works to pad the bottom line. They have literally created a market. As a more refined collector I say POO but as a business man I say great move.
Pcgs lays claim to starting the whole thing. Someone posted an interview with Don wills where he talks about it towards the end.
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Pillar of the Community
United States
7390 Posts |
Here's the video thread if anyone reading missed it. He's being interviewed by Charles morgan of coin week at a recent show asking him some good questions. A little long to get to the special labels questions towards the end but it's a good interview with hot topics. Kinda boilerplate type responses by Don though. https://goccf.com/t/228962Edited by Cascade
05/11/2015 11:54 am
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Bedrock of the Community
United States
17884 Posts |
As I mentioned earlier PCGS DID start the First Strike nonsense. I'm fairly sure they were also the first to start withthe novelty labels back in 2001. No make that even earlier in 2000 when they did special labels for the "First coins of the Millenium" for some bulk submitters.
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Pillar of the Community
United States
3127 Posts |
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The Bad Word Filter prevents me from stating my opinion of the practice. Aw Dag Nab it SsuperDdave! |
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Pillar of the Community
United States
1314 Posts |
If everyone collected what I like, it would only drive up the price.
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Pillar of the Community
United States
1913 Posts |
jack jeckel, email PCGS & NGC and ask if they'll do it. I'd love to hear the response. I can think of no reason why they wouldn't do it. You'll have the only one in the country.
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Replies: 11 / Views: 14,773 |
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Posted 05/10/2015 03:45 am
