Monday, April 16, 2007

I was wrong on NGC Presidential Dollar "First Day of Mintage" designation - I like it!

Let me just say that I like it! Numismatic Guaranty Corporation's new semi-rigid sleeve that allows the coins in the United States Mint Official American Presidency $1 Coin Covers to be graded and certified while allowing the actual U.S. Mint cover to remain intact is great.

When NGC's first press release (click here) mentioned that they would be certifying coins with the First Day of Mintage designation, it was unclear that the cover would remain intact. I pictured the normal holders with the coins removed from the Mint's First Day Covers and simply a designation on the holder stating First Day of Mintage. As a collector of USPS First Day Covers, that just didn't make any sense to me and I wrote a post saying so, but I was wrong.

NGC's latest press release (click here) shows how their new certification option will work. The entire cover will be sealed in a semi-rigid sleeve allowing full view of the original cover. Each cover has two coins (P and D mints) and if both coins grade the same, they will only show a single grade on the holder. If the two coins grade differently, then each coin will have its own grade designated on the holder. What excites me about this is that this type of holder could be used to grade USPS First Day Covers. I haven't checked recently so maybe someone is already doing it, but if not, I'm sure it is definitely only a matter of time before someone does.

So let me just say again. I was wrong about NGC's new First Day of Mintage certification when I thought the coins were going to be put into traditional holders. I think the way NGC is going to be certifying the covers is a great way to do it and . . . I like it!

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