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 Replies: 16 / Views: 3,346 |
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Rest in Peace
United States
17900 Posts |
For those of you who have heard me espouse the oft repeated advice that you should always buy the coin instead of the holder, I'm sorry. For those of you that have read how little I care about what kind of label is on a TPG, as it adds nothing to the coin, I must lay down my arms and surrender in defeat. You may have even heard me say that almost no one is going to be able to tell a 69 from a 70, so why on earth would you pay extra for a 70 that doesn't really look a bit better. I admit I have said this, and now hang my head in shame. As an excuse, let me say that the ASE's are the only coins I collect after 1964. This year I purchased my bullion issue with an NGC MS-70 grade, as I have done for 31 years. I was waiting and waiting to see what special issues they might produce for the 30th Anniversary, but it was nothing like the 20th or the 25th Anniversary, as only 3 "different" types were produced. The regular bullion, the W mints Proof, and the W mints burnished silver. I kept waiting, thinking that they must be putting out an enhanced finish, or an S mint of some type, or a reverse proof, or SOMETHING. Even a lousy "Minted at West Point", would have been a fourth kind (but not really). But none of those options proved true. The problem was when I purchased my bullion issue, I saw the neat First Day of Issue label, and since it was only a couple of dollars more than the regular brown label, I decided to get it. I guess First Day seemed kind of neat to me. Imagining the coin I held in my hands coming off the presses that very first day was an incentive that I normally wouldn't consider. Then, when the W proof and W burnished were FINALLY issued as the only other types for the 30th Anniversary, I had fallen in love with the First Day "cover" hard enough, that I purchased both of the other two with those labels too, which did not come quite so cheap. Hopefully this will be the only year that I break my normal tradition of just getting the brown label NGC to keep up with my set. Plus, now I'm thinking I should get these three in the Brown Labels, to keep my set solid. I'm really hoping next year they don't produce a first HOUR of issue label!  |
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Pillar of the Community
United States
1963 Posts |
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Moderator
 United States
54280 Posts |
Without the label anyone could claim their coin was a first day of issue (no one would believe it, though).
With the label, you just have to trust the grading company that it is true. Even then, how does one know that the particular coin was actually minted the first day? You just have to trust them....
Per NGC:
NGC offers the First Day of Issue designation for select coins that are received by NGC or an NGC-approved depository within one day of the first release of a new coin issue. In most cases, NGC will make the First Day of Issue designation available only to submitters of bulk quantities or at select trade shows. In cases where the First Day of Issue designation will be available instead to all submitters, an article with submission instructions and grading fees will be posted to the NGC website prior to a coin's release. In all cases, the First Day of Issue designation is available only by special request and will require a higher grading fee.
To qualify for First Day of Issue, coins must be received by NGC or an NGC-approved depository by the release date or on the business day immediately following the release date. For coins that are shipped to NGC by a submitter, the coins must arrive at NGC in the sealed mint shipping box bearing a postmark date that is identical to the release date and arrive at NGC by overnight mail on the business day following the submitter's receipt of the package from the mint.
Coins still sealed in US Mint-issue First Day Covers are eligible for the First Day of Issue designation, but private issue covers are not accepted for this designation.
Guess what? Every year coins are made on the first day. How will you resist the temptation now that "the seal is broken"?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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CCF Master Historian of USA Commemoratives
United States
12252 Posts |
The dark side has claimed another.these are troubling times.
If the special labels bring an added measure of pleasure to your collecting, then "Congrats!" on the purchase. Have no regrets and don't look back!
But now...
[SOAPBOX]
Seeing the three coins side-by-side does illustrate one of my pet peeves with the grading services - especially NGC.
You've illustrated three versions of the same coin - 2016 ASEs - that have been graded at essentially the same time by NGC. So, why can't they use a consistent format for the insert. Each of the inserts in the slabs shown describes the coin slightly differently. It's almost as if different individuals created the insert for each type without consulting the others.
Why couldn't they use a template such as the following:
Line 1: [DATE] [MM] SILVER EAGLE $S1
Line 2: [DESCRIPTION]
Line 3: FIRST DAY OF ISSUE
Line 4: [GRADE]
Line 5: EAGLE 30th ANNIVERSARY
This would produce consistent inserts across the coin versions (from left to right):
2016 W SILVER EAGLE S$1
BURNISHED - LETTERED EDGE
FIRST DAY OF ISSUE
MS 70
EAGLE 30th ANNIVERSARY
2016 W SILVER EAGLE S$1
PROOF - LETTERED EDGE
FIRST DAY OF ISSUE
PF 70 ULTRA CAMEO
EAGLE 30th ANNIVERSARY
2016 SILVER EAGLE S$1
BULLION
FIRST DAY OF ISSUE
MS 70
EAGLE 30th ANNIVERSARY
Now, consistent and orderly labels such as those would bring a smile to my face rather than a disapproving shake of the head! (We ALL have our "things"! Consistent formatting is one of mine!)
[/SOAPBOX]
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Bedrock of the Community
United States
10029 Posts |
A hobby is a hobby. A hobby is for fun. If you value something to be equal with your extra hobby cash - buy it. No need for apologies. I once foolishly spent 200.00 on a replica (but brass), authentically hand painted "I dream of Genie Bottle." How stupid. How illogical. But the money came in from an unexpected source, so the bottle really cost me nothing, brings back fond memories of growing up, and I knew I would always be asking myself why I never spent the unexpected money, which gave me the chance to afford the bottle, when I knew I would never talk myself into buying the bottle otherwise. I am glad you are happy with these. Enjoy  BTW, I have this great bridge for sale and would consider ASEs in payment...  How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Moderator
United States
54280 Posts |
How much do you want for the.... ...bottle? Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
4901 Posts |
Quote:
The dark side has claimed another.these are troubling times.  Nice looking slabs....I'm a slab person but don't know if I can get to the "1st day of issue" level...bottom line: collect whatever you like. I prefer established labels that can be collected as a identical set (like your brown label...or blue ER label which is my preference) Simple without getting down to the molecular level Edited by Foxwoods Man
12/17/2016 2:29 pm
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Pillar of the Community
Canada
5238 Posts |
There are no standards saying what you must collect. This is very fortunate. If you like it, it works. If you saw the stuff I get, you might think me out of my mind.
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Rest in Peace
United States
7075 Posts |
Quote:
First Day seemed kind of neat to me Me, too. I don't even know how many are released on the First Day ... but there's still something about getting one from that day. Quote:
buy the coin instead of the holder In this case, the holder is the only proof you will have that they are first day coins. Besides, I always understood that advice to mean that you should examine the coin and not just trust the label. You got some lovely coins. Enjoy them. Now go get the Brown Labels.  |
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Rest in Peace
United States
4078 Posts |
Quote:
The dark side has claimed another.these are troubling times.
 The TPG are all about the money. |
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Rest in Peace
 United States
17900 Posts |
I'm glad to see my little Saturday post gave a lot of folks some fun in expressing their opinions. I haven't gone to "the dark side" on anything else. As I mentioned, the ASE are my only post 1964 coins. Since most of the "real" coins on my want lists don't show up too often it is nice to have a less expensive alternative to go to on occasion, since any ASE can be found at any time. Thanks for all your comments. I did enjoy your opinions and even agree with almost all of them. |
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Pillar of the Community
United States
1027 Posts |
If only First Day of Issue meant First Day if Striking, which it does not. The numismatic coins are struck well in advance of release and I suspect that the bullion coins are also. Of course the 70 grade does at least mean that the coins are great examples. I buy mostly OGP coins directly from the mint but have also bought slabbed coins from Heritage when I can get a good price. I usually take them out of the slab so I can enjoy them in hand, but not always, some of the slabs are so clear that I leave them there for now.
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Moderator
United States
187582 Posts |
Quote:
You've illustrated three versions of the same coin - 2016 ASEs - that have been graded at essentially the same time by NGC. So, why can't they use a consistent format for the insert. That would really bother me.  |
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Pillar of the Community
United States
5601 Posts |
Collect whatever you choose, I am sorry that many a collector went to the " dark side " for what is, for lack of another term, a marketing hype. I suspect that anyone who has ever bought any kind of FS, FDOI, ER, etc, had to of thought at one time or another, do I really have what the " label " states.......... Troubling times call for troubled thoughts and the birth of marketing and management 101............  The old school collector is almost extinct, ? I think not, but..............The times they are a changing!!!  |
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Valued Member
United States
110 Posts |
The date on the center one sure looks like 2015 - must be the lighting and shadows.
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Pillar of the Community
United States
4901 Posts |
Quote:
The date on the center one sure looks like 2015 - must be the lighting and shadows. Good eyes I agree...but after hitting it x8 on mag it is indeed a 2016...but up to there it still looked 2015 |
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Replies: 16 / Views: 3,346 |
Posted 12/17/2016 1:23 pm
