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 Replies: 24 / Views: 2,092 |
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Valued Member
United States
397 Posts |
I just saw some NGC holdered 2006 Unc ASE's with the label "Early Release" I am guessing this is the new "First Strike". At least it is closer to the truth. I can live with that term, although it still adds NO value in my book. MM  Edited by morganman
12/14/2006 10:43 pm
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Pillar of the Community
United States
2269 Posts |
Next you'll have First Release.
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Valued Member
 United States
397 Posts |
Edited by morganman
12/14/2006 11:36 pm
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Pillar of the Community
United States
4589 Posts |
quote:
Originally posted by Spider5689
Next you'll have First Release.
And then Next release, and Third release. Its all about money |
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Member
United States
703 Posts |
I just put in for a trademark at the patent office for "Early Strike" , lol
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Pillar of the Community
United States
4589 Posts |
You know on the coins like Morgans that show Frost, or Full step Jeffersons, SplitBand Mercuries, Full toarch Roosies, Full bell Line Franklins ETC. are a true Sign of an EArly strike I could see That Monicure ,but otherwise proof it.......???
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Valued Member
United States
390 Posts |
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Member
United States
3242 Posts |
That why I unloaded my first strikes the day I saw the court case about it I started to sell then! I knew it wouldn't last
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Pillar Of The Community
3147 Posts |
I am waiting for the LAST RELEASES to hit the market! Just think how lucky we will all feel knowing we have the last one ever struck!!! And just think what a HIGH GRADE last release would be worth after all those thousands of coins that were struck before the last one!!!
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Member
United States
703 Posts |
quote:
Originally posted by crystalk64
I am waiting for the LAST RELEASES to hit the market! Just think how lucky we will all feel knowing we have the last one ever struck!!! And just think what a HIGH GRADE last release would be worth after all those thousands of coins that were struck before the last one!!!
Last Releases are were the errors are, could be worth more than the first strikes, LOL. |
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Valued Member
United States
84 Posts |
quote:
Quote from NGC and PCGS:
To PCGS, a "first strike" coin is one that is delivered by the Mint within 30 days of its initial sales date. American Silver Eagles, for example, usually go on sale Jan. 1, so a first strike would be any coin delivered by Jan. 31.
Lipcon, however, said PCGS previously used a definition indicating that a "first strike" was one of the first coins produced by a certain die.
NGC says it will designate a coin "first strike" if it arrives with the proper documentation at the company within the first month of release or is submitted in sealed U.S. Mint packaging at a later date.
"We have had a very clear definition the entire time. It was based on timing," said Steve Eichenbaum, chief executive officer at NGC. "Everything we have done is very transparent. We made no representation with regard to rarity or no representation with regard to value."
From article in yahoo news: http://news.yahoo.com/s/ap/20061217...rike_lawsuitI guess "early releases" may help settle lawsuit, but why not just give it up...and grade the early coins sent out the same as the later because the US Mint says there is no difference. Well money and value,IMHO, hope they are sued til they get it right. |
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Valued Member
Sweden
79 Posts |
Just saw that Yahoo! article. Funny how the NGC announcement fails the mention the lawsuit and conveniently uses the excuse "having two overlapping pedigrees to identify coins of early release may create confusion in the marketplace" as rationale for the decision.  |
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Valued Member
United States
256 Posts |
Exactly why I will not do any business with NGC anymore. They didn't even hesitate to run from one scam and start another! It is becoming evident that the only interest NGC has with collectors is how fast they can relieve them of their finances. I will have to see what PCGS does before I put them on the same level as NGC but my faith in TPG's (at least these two) just went down the drain. |
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Pillar of the Community
United States
751 Posts |
I have a different view on the matter of special labels and pedigrees. I find it an unflattering and unlikely characterization that this is a one-sided fraud perpetrated by the "money-hungry TPGs" to defraud the "unsuspecting and uneducated masses." This is the language of victimology and class-action lawsuits and I reject it. These special labels are a product offered to a demanding marketplace. Consumers are constantly clammoring for ways to distinguish their collection from others. At this very forum, we hear how important it is to have a particular label on a graded coin to enhance its value. If I understand correctly, the business strike W-mintmark ASE is available in a 2-coin set with 10k minted, a 3-coin set with 250k minted, and singly minted to order. There are multiple posts by several members who insist on the "added value" of a particular colored label, despite the identical nature of the coin. Furthermore, the TPGs aren't selling the coins or charging substantially more for these special labels. If a consumer pays more for an identical coin because it is slabbed with a black or red label, and then comes to the realization that the premium was ill-spent, I fail to understand how the slabbing company--who didn't receive any part of the premium--owes anyone recompense. |
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Valued Member
United States
344 Posts |
I suppose they will just fine them and slap their hands and give them another 2 years probation. You think ? Besides which there is always someone to take their place. The Professional Coin Grading Service (PCGS) is a third-party appraisal service for grading rare coins. It determines the condition and authenticity of each coin it grades to provide consumers with an independent knowledgeable rating on which to judge the coin. It was founded in 1986, and is located in Newport Beach, CA. On August 17, 1990 the FTC issued a press release regarding PCGS. "FTC CHARGES COIN CERTIFICATION CO. MISREPRESENTS OBJECTIVITY OF ITS COIN GRADING SERVICES; COMPANY AGREES TO SETTLEMENT" The FTC charged that "PCGS misled consumers by falsely claiming that it provides consistent, objective grading of coins and that investment in PCGS-certified rare coins eliminates all the risk associated with the grading of coins." PCGS/David Hall was charged and placed on probation for 2 years. Civil Action No. 90-1982, https://www.ftc.gov, New York Times, 8/17/90 The Wall Street Journal, 8/17/1990 |
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Valued Member
United States
414 Posts |
They just added something every now and then. The sad thing is that collectors start to use them and that this fact encouraged them to go further and further. The finer difference they can find, the lower number of coins for each finer difference will be. And collectors will think they should pay for the high premium. That is why they want 100 point system or fraction point system.  |
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Replies: 24 / Views: 2,092 |
Posted 12/14/2006 10:42 pm
