'First Strike' designation gives 1997 American Eagle gold bullion coin a boost at auction: Market Analysis

This week's Market Analysis focuses on the growing modern market of numismatics
By , Coin World
Published : 06/19/15
Text Size

The modern segment of the U.S. coin market continues to grow, and a large part of the demand is being driven by third-party grading services including Professional Coin Grading Service and Numismatic Guaranty Corp. These firms have Registry Set programs that allow collectors to place their coin sets in competition with other collectors and First Strike and Early Release programs that acknowledge coins released by the U.S. Mint during the first 30 days of a coin’s issue. Here are three low population modern issues that recently brought exciting prices in auctions.

The Coin 

1997-W American Eagle $50 gold one-ounce bullion coin, Proof 70 Deep Cameo, First Strike

The Price 


The Story 

PCGS began its “First Strike” program in 2005, and today the firm provides the designation for coins released in the first 30 days of the Mint’s issue date for a coin.

While the designation is most typically seen for modern American Eagle bullion coins and commemorative issues, it can also be used on coins that pre-date the First Strike program’s start date, if the coins are submitted in the original unopened shipping box from the U.S. Mint showing a postmark date prior to the specified PCGS cutoff date.

At a May 24 GreatCollections.com auction, one of two certified PCGS Proof 70 Deep Cameo First Strike 1997-W American Eagle 1-ounce $50 gold bullion coins sold for $6,325. The coin was recently submitted to PCGS in its original sealed shipping box from the U.S. Mint.

For perspective, PCGS has graded 229 other Proof 70 Deep Cameo examples of this issue not designated First Strike, and several of these have sold between $1,700 and $1,800 in recent auctions.

Keep reading this Market Analysis:

1982 Washington quarter looms large in the modern market

1988-D Lincoln cent common, but valuable at MS-68 red

More from CoinWorld.com:

Panama’s giant silver coin of the 1970’s paved the way

United States Mint releases image mock-u[ps for 2016 gold dime, quarter dollar, half dollar

Double-denomination U.S. notes: How do they happen?

CCAC reviews ‘super’ 2016 centennial coin replicas

Mob forms during $150 bank note release in Hong Kong

Keep up with all of CoinWorld.com's news and insights by  signing up for our free eNewsletters liking us on Facebook , and  following us on Twitter . We're also on  Instagram !

You are signed in as:null
No comments yet