First Strike Coins
Although the U.S. Mint maintains that there is no widely-accepted and standardized numismatic industry definition of "first strike" coins, First Strike coins definitely exist in the coin industry. Still, First Strike coins are recent developments, having been first promoted in 2005. The most frequently promoted First Strike coins are American Gold Eagle coins, American Silver Eagle coins, American Platinum Eagle coins, and the new American Gold Buffalo coins.
One often seen definition of First Strike coins calls them "the first coins struck from a new set of dies." Another calls them, "near-perfect specimens produced within the first few hundred strikings in an edition." The U.S. Mint's production and distribution of coins challenge both definitions.
The U.S. Mint does not track the order in which it mints coins during their production and does not segregate or specifically identify the first coins minted from a set of dies. And, the Mint produces up to fifty percent of the projected sales of new coins weeks prior to their release.
Further, the Mint does not necessarily ship coins in the order in which they were minted, thereby making it impossible for promoters of First Strike coins to know that the coins being promoted as First Strike are actually the "first coins struck from a new set of dies." The numbering on the boxes of coins shipped from the Mint are for accounting and inventory purposes only and do not reflect the order in which the coins were minted.
One often seen definition of First Strike coins calls them "the first coins struck from a new set of dies." Another calls them, "near-perfect specimens produced within the first few hundred strikings in an edition." The U.S. Mint's production and distribution of coins challenge both definitions.
The U.S. Mint does not track the order in which it mints coins during their production and does not segregate or specifically identify the first coins minted from a set of dies. And, the Mint produces up to fifty percent of the projected sales of new coins weeks prior to their release.
Further, the Mint does not necessarily ship coins in the order in which they were minted, thereby making it impossible for promoters of First Strike coins to know that the coins being promoted as First Strike are actually the "first coins struck from a new set of dies." The numbering on the boxes of coins shipped from the Mint are for accounting and inventory purposes only and do not reflect the order in which the coins were minted.
posted by blogsurfer at 1:48 AM
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