PCGS label Price Variances?

[Jez]

Hi guys,

 

I'm only new to the world of coins, and there is one thing still confusing me a little.  It's the price differences that can be found across various different type of PCGS labels.

 

For example..  why does the PCGS MS-70PL 2009 Double Eagle with a Gold Foil Label have a "PCGS Price Guide^SM Value: "  of "$6,150" whereas a PCGS MS-70PL 2009 Double Eagle (i.e. the same exact coin with the same grade) in a 'FirstStrike' Label have a "PCGS Price Guide^SM Value: "  of "$19,000"?

 

The only differences is the population, with the Gold Foil having a population of 477 and the FirstStrike having a population of only 37, but surely this can't be the deciding factor in the price differences, can it?  Because, besides the label. they're the exact same coin?  They're both 2009 Double Eagles in MS-70PL condition, i.e. the highest possible grade these coins can receive.  So theoretically they're both the exact same coins, just with different labels / slabs.  

 

Does this mean that in the end the price difference of $12,850 all comes down to the slab / label?  Am I the only one who doesn't understand the logic in this / think it's kind of crazy? haha.  Why would anyone pay an extra $12,850 just for a slab?  IT's the same damn coin! haha :-)

 

 

 

 

 

 

 

[Danny-boy]

It's down to rarity.

I know the coin is the same, but there are only 37 in the first strike slab.

I agree it's crazy mate.

It's kinda like the carded and capsuled stock horses - same coin, different presentation, different price.

[Jez]

Ok cool.  I thought people always tried to argue 'buy the coin not the slab' but I guess it's obvious that that's not always the case.

 

I understand it from a rarity point of view, it just seems kind of crazy though considering how it's the exact same graded coin with just a different 1 cent label.  I was just sort of hoping (or perhaps it's just me being wishful) that the general populous of coin collectors would somehow 'realise' this and not pay such high prices to continually support such high price variations based on labels, but obviously that's just me being unrealistic and not accepting the truths of the market.

 

Anyways, cheers for the quick response man.

[ChrisSilver]

I think it's because Firststrike means the coin is from one of the first batches of blanks to be struck? Hence it is supposed to be the best as the die is fresh.

 

This is just my assumption, I have no idea if this is actually what firststrike means.

[ChrisSilver]

And yea, I think it's crazy that people pay ridiculous prices for slabbed coins. I'd much rather have more silver. And if I was super wealthy, I am sure I could easily find some expensive proof coins to spend my money on rather than spending it on slabbed coins.

I bought a 2014 MS69 slabbed coin, just because it seemed like a very fair price, and I wanted to see what a slabbed coin was like. But I don't plan on collecting slabbed coins. They take up too much space, and the cases seem to look ugly to me. 

So are you going to buy 3x PCGS MS-70PL 2009 Double Eagle with a Gold Foil Label slabbed coins? Or just a single firststrike?

[Danny-boy]

I think it's because Firststrike means the coin is from one of the first batches of blanks to be struck? Hence it is supposed to be the best as the die is fresh.

This is just my assumption, I have no idea if this is actually what firststrike means.

Nope, it's to do with when the coin is bought and submitted.

I.e, if the mint starts minting and puts each box on top of the last, the first ones to be sold are the last ones minted.

It's an absolute farce that the first strikes are highly unlikely to actually be that.

[Jez]

I just did some more research and the PCGS MS-70PL Edmund C Moy Signature variant labels have a population of only 27, so they're even rarer than the FirstStrike Label Double Eagles, yet their  "PCGS Price Guide^SM Value: " is only "$6400" ??? 

 

Ok, now I really am confused, if the Moy Signature variants are even rarer than the FirstStrikes variants, and in the end it comes down to rarity, then why are they $12,600 cheaper than the FirstStrikes?  Don't people like the C Moy signature ones or something? haha.

[Danny-boy]

I just did some more research and the PCGS MS-70PL Edmund C Moy Signature variant labels have a population of only 27, so they're even rarer than the FirstStrike Label Double Eagles, yet their "PCGS Price Guide^SM Value: " is only "$6400" ???

Ok, now I really am confused, if the Moy Signature variants are even rarer than the FirstStrikes variants, and in the end it comes down to rarity, then why are they $12,600 cheaper than the FirstStrikes? Don't people like the C Moy signature ones or something? haha.

That is strange Jez, but sometimes there is no explaining these things.

Maybe it's the fact that first strikes are limited, but the signature ones can still be produced?