what is a first strike gold coin?

Question

I got a call from a guy selling first strike coins as an investment. what are they and are they a good deal or is this some scam?

Answer 1

I'm assuming you're referring to the First Strike designation being given to coins certified by companies such as Professional Coin Grading Services (PCGS), Numismatic Guaranty Corporation (NGC), or one of the other similar grading companies.

Before buying any First Strike coins, click on the link below to go to an article I wrote a few months ago on First Strikes. After you read it you may not want to "invest" in any First Strike coins.

Here's the article:
http://thenumismatist-coincollector.blogspot.com/2006/09/first-strikes-marketing-gold-mine.html

It's basically a marketing campaign that I think will eventually fizzle out.

Answer 2

There is no way anyone outside the mint knows what coins were struck first. Even then, most that work there don't know. It is a gimmick and the U.S. Mint has sent out an advisory about it.You don't buy coins over the phone ever. You also don't buy coins unseen. You did right in asking this question though.I hate seeing people taken when it comes to my hobby. It hurts the hobby. The only ones that make big buck in this hobby, are the ones that buy the rarest coins for hundreds of thousands or millions of dollars are resell in a year or so. I will do alright, for I have collected for a long time and kept the coins. I also kept away from most modern coins and bought the scarce ones. For fun I collect world coins and ancients. Ancients are going up in price though.