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 Replies: 32 / Views: 3,247 |
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New Member
United States
33 Posts |
In the issue of Coin World there are two articles. On page 1, on a man is suing NGC regarding First Strike designations. Next on page 5, I find an article titled "How many First Strikes are there? This article talks about the estimated number of First Strike labeled coins but goes farther talking about NGC's case regarding PCGS's trademark of the term "First Strike". I will quote the following lines... A statement NGC made in a trademark case regarding the term "First Strike" defines the definition as the one more commonly accepted in the hobby, and not the one in use by grading firms.
NGC petitioned the Trademark Trial and Appeal Board in the United States Patent and Trademark Office on Aug. 14 seeking to cancel Collectors Universe Inc.'s registration of the alleged mark "first strike" for "coin grading and authentication services," claiming use of the mark has damaged NGC's business.
Now if the next line is FACT.... According to NGC's petition: "The words 'first strike' are used throughout the numismatic industry to refer to coins that are the first to be minted from a new die.then the Florida man who has filed the lawsuit against NGC will have a MUCH STRONGER case. |
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Moderator
 United States
23522 Posts |
Oops.  We had a term for that in the Army, but I cannot share it in a family-oriented forum. |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by SuperDave
Oops. We had a term for that in the Army, but I cannot share it in a family-oriented forum.
I thought americans called it pre-emptive strike Nuke them before they nuke you  I am a child of the cold war And my most liked album is the wall by Pink Floyd Mother will they drop the bomb  |
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Pillar Of The Community
3147 Posts |
Hey any man that likes "The Wall" is a friend of mine!!! I have said all along their can only be ONE FIRST STRIKE with each new set of dies. And, even then, a delegate of the Mint and a witness from the grading service would have to be there to pull the coin off the machine and place it in a protective container, inventory it, make note of the date, time and die numbers to guarantee no other coin had that exact information. The U.S. Mint is NOTORIOUS in its efforts to DESTROY the secondary market so we all know that is NOT ever going to happen.
I have two slabbed coins struck at the French Mint that were done exactly as I just mentioned and they are even signed by the Director of the Mint but they are serial numbered as the 132 and 133 coins out of the 200 first strikes on this particular commemorative. So they are NOT really first strikes but the 132nd and 133rd strikes. The hype of first strikes is nothing more than greed by the big boys who are trying to suck the life out of this hobby. I hope there are collectors with money to burn who will sue them all right off the planet!
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Pillar of the Community
United States
1247 Posts |
What difference does it make if PCGS trademarks "First Strike?" Since the whole thing is just another *CONSTRUCT* why can't NGC be "innovative" and construct another construct?
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Pillar Of The Community
3147 Posts |
I just hope more collectors who have been ripped off, and have money to burn, jump on the old lawsuit bandwagon here. The ball is rolling so now is the time to stop this huge HYPE machine called first strikes!!! It has been a lie since day one and if any other business practiced these same tactics the populace and government would have already put them out of business. It is way past time to bring TRUTH back in advertising!!!
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Pillar of the Community
United States
1247 Posts |
Between the "Kings & Captains" fighting over the First-Strike designation and the class action suit in FL I wonder if existing "First-Strikes" won't come out with some scandal "value?" Nothing like a world turned upside down.  |
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Pillar of the Community
United States
604 Posts |
Hmm so how can you obtain a real first strike? Doesn't the mint director keep the first coin minted for refernce or something?
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by Buffaloboy5
Hmm so how can you obtain a real first strike? Doesn't the mint director keep the first coin minted for refernce or something?
He should keep them and list them on ebay to be sold. Then it's a matter of public record which are the real "First-Strikes." They could even put them in their own special First Strike holders with die numbers printed on them. And of course, pack them in "special" golden card board boxes. Of course it wouldn't change the grading con game at all. They would simply start slabbing MS70 Almost a "First-Strike." Edited by longnine009
11/18/2006 6:56 pm
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Valued Member
United States
458 Posts |
My thoughts on this first strike scam from the TPG's has been answered on other threads on this wonderful forum--All I'll say here today is this, what is the difference bwt a ms70 coin and a FS ms70 coin? HuH?, what you say? ahh 2 words on the label--ok--I'll give ya hundreds for those 2 words-- Give me a break--A fool and his money are soon departed--  |
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Pillar Of The Community
3147 Posts |
There will NEVER be first strikes released by the U.S. Mint. This would violate their never ending policy of trying to destroy, or at least munipulate, the secondary market. Our mint strikes thousands (or millions) of everything for just that cause. They will NEVER intentionally throw anything out to the general public that would increase in value overnight!!! The few items that do increase quickly, due to sell outs, perform well until the hype dies down!
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Pillar of the Community
United States
7123 Posts |
All I can say is its to bad that the only way to educate some folks is by way of a lawsuit and the courts !! I know that many collectors bought these coins for whatever reason ,, I think a very large run on the TPG guarantee is in order !! Anyone who owns coins thus designated should be able to recover the difference in value very soon . Rick |
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Valued Member
United States
458 Posts |
I'm waiting for the other shoe to drop--Prices plummeting as these guys who bit on this scam scramble to unload these over priced "2 word scam" on slabs--Losses WILL be high I beleive--
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Pillar of the Community
United States
4589 Posts |
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Valued Member
United States
397 Posts |
quote:
Originally posted by crystalk64
There will NEVER be first strikes released by the U.S. Mint. This would violate their never ending policy of trying to destroy, or at least munipulate, the secondary market. Our mint strikes thousands (or millions) of everything for just that cause. They will NEVER intentionally throw anything out to the general public that would increase in value overnight!!! The few items that do increase quickly, due to sell outs, perform well until the hype dies down!
I have said this before, but the mint actually DOES issue a "First Strike" of sorts. The first day coin covers are the closest thing to a first strike you will see from the mint. I believe these are one of the most undervalued series in the industry. They are totally overlooked by almost everyone, and I think that in the future, these will be recognized for what they really are, coins that were struck on the first day of mintage. While maybe not the very 1st coin hit by the die, they are certainly in the first few, with only 50,000 minted of most series..... That is more than you can say for the "First Strike" stuff coming from TPG's today.... I hope this turns out to be egg all over the face of the TPG's, as they got way to greedy, and have lost respect for this folly. Just my 2 cents worth.... MM  |
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Bedrock of the Community
United States
20753 Posts |
I don't really think there is anything wrong with a statement like first strike(s) as long as the s is there. If it said just first stike, singular, then yes it is a scam. But you could have millions of first strikes of a coin. It is just a term and becomes oudated only when you start having second strike(s). The Mint should stamp each first STRIKE coin with a big 1 on both sides so that this type of item would not be an item. I have a few slabbed coins that say "first strike" but since I got them free I won't make an issue of them. Many coin terminology items are becoming just to complicated for me.
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Replies: 32 / Views: 3,247 |
Posted 11/16/2006 2:33 pm
