Sunday, September 17, 2006

First Strike Coins; Buyers Beware (GoldSeek.com)

With the release of the U.S. Mint's new pure gold American Buffalo gold coin, First Strike coins have again become telemarketers' favorites. Despite the U.S. Mint maintaining that there is no widely-accepted and standardized numismatic industry definition of "first strike" coins, they definitely exist in the coin industry, and potential buyers need to be aware just what First Strike coins are and why they are promoters' favorites.

Full story at:
http://news.goldseek.com/GoldSeek/1158332430.php

1 comment:

A.C. Dwyer (aka The Arlington Collection) said...

It appears my blog from 9/8 (link to blog article) has hit a nerve. The "First Strike" premium may eventually wind up on the endangered species list as more people get educated as to what the designation really means.

On Friday 9/15, Goldseek.com, a precious metals news site, release this article that basically repeats the same train of thought of my post. The author of this article is the head of a large precious metals dealer. When I did a quick look at their website, I saw plenty of gold bullion coins, but I did not see any First Strike coins being offered. (a definite plus in my book)

So continue to spread the truth. Don't give your opinion, just give the facts and let others decide for themselves. Or better yet, just direct them to the US MInt's Consumer Awareness Hot Items Webpage. Afterall, its up to collectors to decide what really deserves a premium. Those who don't believe a premium is warranted can simply choose not to pay it. If enough people choose not to pay it, demand dries up and the premium simply fades away.