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 Replies: 13 / Views: 1,088 |
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Pillar of the Community
United States
1626 Posts |
I am still trying to figure out why the US mint sells the 1st day coin covers for so much  . Is it because the coins are 1st day strikes? I thought the mint put out a statement saying there is no such thing as first day strikes. Here's what is under the description of the coin covers: "This wonderful collector's item features two quarters from the first day of mintage" I would think this would classify as a 1st day strike Also what would one of these grade at if you sent them in to PCGS or NGC? Maybe a MS-68 or MS-69 ? Any thoughts? Thanks, Tim |
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Pillar of the Community
United States
7123 Posts |
Hi Tim Take any specific State Quarter and divide the total by 70 this would approximate the number of coins struck perday in a 10 week period which is the approximate number of weeks that each State Quarter is in production,, My opinion is that there is no greater odds of getting a 69 or 70 coin from the first day covers than from any fed roll. first day strike and first strike bear a significant difference in definition,, even though neither adds any greater value in my opinion to the coins . Rick |
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Pillar of the Community
 United States
1626 Posts |
Thanks for the quick response Metalman. So why are these things so darn much? Is it the novelty? Looks like they dont sell all that great. Some only have 50,000 and they are still for sale...
Edited by Tpatna
11/12/2006 01:14 am
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Pillar of the Community
United States
7123 Posts |
I think it is the noverlty to a degree, but when taken as a whole all of the mint products are in the way out zone for pricing.
Im a firm believer that anything manufactured by tax dollars (especially money) should only cost the tax payer face value if it is made as a circulation coin,, I can understand some mark up for proof coins and I can understand bullion being in line with the market, but first day covers, and mint sets, if they added 2.00 to the face to cover packaging, and then 3.85 for priority shipping ,, this would be very much less than what they charge now.
our government entities should not be in business to make money for a product they have already been paid to make.
Rick
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Bedrock of the Community
United States
14454 Posts |
in my opinion the first day coins would be no better quality than any other coin that was minted with fresh dies (which you can imagine they change quite a few times during the mintage of the series of coin)
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Bedrock of the Community
United States
14454 Posts |
oh I should also answer the other question, if it was made early in the first day then I don't think it would grade below a 68 and shouldn't grade below a 69 if handled properly but you just never know when that day it was minted and how many coins were made with them same dies in that first day
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Pillar of the Community
United States
830 Posts |
First Day Covers are nothing more than another marketing gimmick of the mint, and they have been effective as evidenced by the fact that there are still people out there buying them. The actual coin is not going to be any different from any other one minted, and you have an equal chance of getting a coin to make 68 or 69 as you would with one from a mint set or whatever. The TPG's would not recognize any difference either. They'd just grade the quarter like they do with all the others that get submitted. |
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Pillar of the Community
United States
1203 Posts |
Sorry Tim, but I can't tell you any more than Rick and the others have already said. It all boils down to the bottom line which is they will charge what ever the buying public is willing to pay. Supply and demand is the name of the game.
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Formerly nancyc
Australia
5385 Posts |
As an Aussie newbie, I have some questions about US State Quarters. 1) How many are there (I assumed 51, but am now aware that's wrong) 2) When did the series start 3) How often are they produced 4) When will the series be complete 5) Is there a timeline for those yet to be minted 6) Where do I get the ones I need to complete the set to date? 7) Is there a list of what States have been released so far I'll have to make up a list of what I've got so I can determine how many are missing. Out of all the US coins, these are the ones I like the most. I won't be looking for proofs as I only collect circulation coins.  |
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Pillar Of The Community
3147 Posts |
There are 50 states being produced but an effort is under way to continue the program with a Washington D.C. and the U.S. Possessions. Really don't think it will happen at this time due to the upcoming Presidential dollar joke that is about to start next Jan. The quarters are released 5 times a year (5 different states) every 10 weeks. The series will end with the final quarter in 2008. Currently there are 39 states already released with the 40th due any day. Each Statehood Quarter is produced at two different mints for circulation (Philadelphia and Denver) thus two different mint marks. The proofs are made in San Francisco in clad and in silver. There are list available but I am unaware of any online at this time but sure they do exsist! Post a list and we can tell you what you are missing and I am sure someone here would be glad to do a little trading or provide you with the quarters at a nominal fee. Good luck! |
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Bedrock of the Community
United States
12437 Posts |
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Formerly nancyc
Australia
5385 Posts |
Thanks for the link to the Mint's website, exactly what I needed. Had a quick look at what I've got, nearly all Denver (46), only 2 x Philadelphia. Didn't know I had so many regular ones with eagles on the rev. Lots of duplicates in the state ones though.
How come there are only 50 being done, which state misses out? Why does it miss out?
I'm glad Australia only has 6 states plus some territories. Will post my list a little way down the track, lots to do at present.
Edited by Nevol
11/13/2006 6:16 pm
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Bedrock of the Community
United States
12437 Posts |
quote:
Originally posted by nancyc
How come there are only 50 being done, which state misses out? Why does it miss out?
Well, we do only have 50 states. Legislation is pending to extend the State Quarter Program for one more year to include US territories- District of Columbia(Washington DC), Puerto Rico, Guam, American Samoa, US Virgin Islands, and the Northern Marianas Islands. |
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Formerly nancyc
Australia
5385 Posts |
Oops, sorry I thought there were 51 states. My apologies, my geography isn't all that crash hot. Left school many years ago, that's my excuse & I'm sticking to it. Glad to learn that all will be represented.
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Replies: 13 / Views: 1,088 |
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Posted 11/12/2006 12:48 am
