Comments on: 2012-S Silver Eagle Two-Coin Set Moves to Secondary Market

By: Bob Myers

Bob Myers — Sat, 08 Dec 2012 20:27:14 +0000

I have a set of these reverse proof San Francisco dollars. Thinking of sending
them in for grading.
What difference does first release or early release have to do with anything?
I just ordered within the time frame, got my coins, so now what?

Bob Myers

By: jonny oneal

jonny oneal — Mon, 06 Aug 2012 16:03:48 +0000

I ordered one set the first day. I received them last week, about Wednesday of the last week in July. When I opened the undamaged box, I immediately noticed without using a loupe that the reverse proof had a gouge in the sun with a scratch leading to the edge. This was on the coin obtainable only by buying the set. Talk about disappointment. I have written the mint and will send pictures but I believe the Mint should replace that coin. There was no limit on ordering, so ‘extra’ coins must exist for the Mint to sell to AP dealers. If anyone has had this happen to them, I would appreciate knowing. If anyone knows what I should do to get the coin replaced and maintain the integrity of the set, I would appreciate being alerted. Cannot believe the Mint was so careless with such a highly touted offering. It had to occur while being packed, I would hazard a guess. It certainly did not happen while being delivered or while I opened the box to examine the coins. And am I glad I did. So, be aware. Even or especially the Mint makes errors. Sadly, it usually blames it on the buyer but in this case I had a witness to the entire transaction who is ready to file an affidavit swearing under oath what I have just written. Otherwise, it is a beautiful set.

By: Skip Goez

Skip Goez — Mon, 16 Jul 2012 10:43:44 +0000

I bought mine from the mint one hour before the deadline—–am now waiting for them to show up—-until they do, I will start filling in some other 2012 issues and treat myself to some other Silver Eagles from other years——Sounds alittle paranoid out there——-I wonder if I resent all mt Eagles from ’86 on, would I receive a ’70 instead of ’69——-to my eyes, ’69 and ’70’s look exactly the same——so—–when these 2012’s come in from the mint—–do I not or do I do open the case——that is the question——–Skip

By: Rich

Rich — Thu, 12 Jul 2012 21:11:13 +0000

In reply to RonnieBGood. Good stuff RonnieBGood.

By: Mike

Mike — Thu, 12 Jul 2012 18:29:07 +0000

Thanks RonnieBGood

By: RonnieBGood

RonnieBGood — Thu, 12 Jul 2012 18:28:06 +0000

Mike, Yes.
Only PCGS will Grade First Release beyond 30 days by date from unopened boxes.

By: RonnieBGood

RonnieBGood — Thu, 12 Jul 2012 18:25:15 +0000

To Jeff and others:
I did also want to comment on Coin Labeling. You are correct in saying that the Label adds no value to the coin. The Mint does not track the order that coins come out of the Mint and the “First Strike, Early Release, etc” only state that the coin was sent to the Grader within the First 30 Days of issue! To ass/u/me that this is a sharper strike or from a newer die is not a good assumption. Most collector coins for the entire year are run within one week and are done months in advance of sales! When they are not, that is when you see the shipping dates pushed into the future.
Dies are polished and/or replaced as needed to maintain Quality Control. To pay extra for the Label is just a “market” that the Grading Services have created (it costs an extra $5 per coin for these labels). They will cater their Labeling Services to large grading orders/buyers. There are many specialty Labels that have been done so “Buyer Beware”! An informed collector is a smart collector. Member ANA and NGC.

By: Mike

Mike — Thu, 12 Jul 2012 18:10:11 +0000

Is it correct to say that as long as I keep them in their original unopened box and I get my sets in the early batch sent out that I can always send them in later, lets say 1 year from now to get them graded as First Release? Is this just with PCGS?
Just asking, probably will not do this though.

By: RonnieBGood

RonnieBGood — Thu, 12 Jul 2012 18:02:56 +0000

To be perhaps the lone one to back a grading company, chew on this:
The price of a coin varies greatly based on the grade. The grading companies of NGC and PCGS provide grading service. They are the ones that have risen to the top. Others have tried and failed. Failed because we the public have judged then as not good enough. With NGC 3 certified “Graders” are used to check each coin. The least grade of the 3 is the one used on the coin. So if a coin sent from the Mint for grading and is given by the three separate graders an “MS70, MS69 & MS70”, then the coin is graded an “MS69”! They provide the service of protecting the collecting community from being “taken” by overpaying for an “opinion” of a coin grade. They also guarantee this service and give you options on selling it to them or being compensated for the difference in grade!
Hope this helps to understand the process. Member ANA and NGC.

By: Jeff

Jeff — Thu, 12 Jul 2012 04:28:41 +0000

wanted to add my 2 cents on the Early Release/First Strike label. Nobody knows, included the U.S. Mint, which coin is minted 1st, 2nd, or last. The Mint doesn’t track in which order the coins come off the press. This is stated in the lawsuit brought against NGC. And in most instances, the Mint already has huge numbers already minted and ready for shipping when the coins are released for sale. The early release/first strike is a marketing ploy by the grading companies. It is based solely on getting coins to the grading companies in their specified time frame. And it just baffles the mind why they bring a premium over normal labeled coins.