“First Day Of Issue” Vs “Early Release”
January 8, 2015
When a new coin is released from The United States Mint, there is usually a lot of excitement for coin collectors all over the U.S.
Each coin has a release date. On that release date, anybody has the opportunity to go to a few different mint locations to be able to purchase the coin on that exact date.
Here is a list of all of The United States Mint locations:
1. United States Mint Headquarters, Washington, D.C.
2. United States Mint at Philadelphia, Pennsylvania
3. United States Mint at Denver, Colorado
4. United States Mint at San Francisco, California
5. United States Mint at West Point, New York
Now, why bother going to the mint on release day?
Well, buying a coin on its release date from the mint will give you a great opportunity. It allows you to be a part of a group of a select few to be granted the label “First Day Of Issue”.
Many collectors love to get there coins graded by third party grading companies, such as NGC or PCGS.
Coins with a “First Day Of Issue” or “Early Release” designation always demand a higher premium. In order to secure yourself a “First Day Of Issue”, you must purchase your coin on the day it is released from one of the United States Mint locations. They will provide you with a receipt stating that you purchased the coin on that date and you will have the opportunity to send that receipt with the coin to the grading company and be granted the “First Day Of Issue” label. This is the one and ONLY way any collector will ever be able to secure him or herself the rare “First Day Of Issue”.
On the other hand, the “Early Release” label is granted to any coin purchased within the first 30 days from the coin being released. This designation also demands a higher premium, but not as high as a “First Day Of Issue”, for most collectors.
Remember, each collector has his or her own preference. Knowing the difference between all of the labels can be beneficial for each and every collector. Happy hunting!!