Coin Experts?

Question

Do you think buying one (1) first day cover for a state quarter is good? Are the quarters air tight? And are they in better than most BU coins (with a MS-65 or better)? Thanks.

Answer 1

Lets not mix up, what a first day cover is, versus what the term first strike is. A first day cover is an envelope with a stamp on it and is post marked the day the stamp came out, or in this case the day the coin was released. A coin is also included in that envelope. Even the U.S. Mint is issuing the state quarters in what is called first day covers. They do not imply the coin was one of the first struck, but that they had the releasing ceremony that day. As for quality the coin was hand picked, so it must be high. I have noticed that the ones offered by the mint have kept there price and that they are not out there in very large quanities. They may just be a good investment only time will tell.

Answer 2

There is a big fight within the numismatic community about the use of the term first day cover or strike. The US mint does not track which coins are first strikes and which are not. The coins wind up some sort of big hopper from which they are bagged for delivery to the Federal Reserve banks. The bags are date stamped so they know when the bags were filled but not which coins have been put into the bag and that is the catch.

The first few hundred coins may have a superior strike but they go through the same handling processes as the next million so there is no way to guarantee the condition of the coins when they are released to the public. If the coin you buy is certified and graded before you buy it then you have something you can hang your hat on.

Slabs are not air tight but I believe they are hermetically sealed.

Personally I would go the bank and buy a couple rolls of new quarters and look for a high grade sample. Whatever is left over you can spend.

Have fun and enjoy the hobby.