What Is First Day of Issue?

Category: Understanding Pedigree

You may have heard of popular coins such as the Morgan Dollar or Peace Dollar, but did you know that there are exciting categories of coins that can add a whole new dimension to your collection? The notion of “First Day of Issue” in the world of numismatics adds a layer of intrigue and reverence to coin collecting. It refers to the day when a mint or government agency officially releases a new coin series. The designation First Day of Issue requires that the coin was purchased on the first day it was available for sale by the issuing mint.

The Origin of First Day of Issue Coins

The tradition of the First Day of Issue in the United States dates back to the mid-20th century when the United States Mint began releasing commemorative coins with special postmarks on their first day of release. The concept has since evolved and extended to various types of coins.

Not all coins are eligible for the First Day of Issue designation. Generally, it includes bulk quantities, special releases—such as commemorative coins—bullion releases, and limited-edition series. Collectors often seek these coins as they carry additional significance.

Authentication Process

Third-party grading companies like the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) play a pivotal role in certifying the authenticity and quality of First Day of Issue coins. Their expert grading ensures that collectors are getting genuine items.

Collecting First Day of Issue Coins

First Day of Issue coins can be attractive investment opportunities. The rarity and demand for certain coins can lead to appreciating values over time. However, potential investors should also be aware of market dynamics and fluctuations.

Many government mints and agencies offer First Day of Issue coins for sale on their websites or through official distributors. This is often the most straightforward way to acquire these coins as close to the release date as possible. Reputable coin dealers and numismatic shops may also have access to this pedigree of coins. Make sure to verify the authenticity and provenance of the coins when buying from dealers.

A Pedigree Worth Owning

The allure of First Day of Issue coins lies in their unique status. The idea of being the initial release often enhances the desirability. In the collecting world, there is a prestige to owning a “first.” It's not just about acquiring a piece of currency; it's about the notion of being first.