Some designations add to a coin’s desirability among coin collectors and investors. Two such designations, First Day of Issue (FDOI) and First Strike (FS), play a significant role in numismatics. Understanding these terms and the difference between FDOI and FS helps collectors make informed purchasing decisions and evaluate a coin’s significance in the marketplace.
First Day of Issue vs First Strike
Both premier coin grading organizations, NGC and PCGS, assign the designations FS and FDOI. However, First Strike has slightly different meanings between these two grading bodies.
First Day of Issue (FDOI)
FDOI refers to coins purchased on the first day they are released by the issuing mint. Sometimes this will be listed as FDI or First Day. To qualify for this designation, coins must be submitted directly from the mint to a grading service, often through a bulk submission program. The FDOI label is awarded to coins that are received by the grading service within a specified timeframe, usually within 24 hours of the coin’s release.
First Strike (FS)
As a PCGS designation, FS refers to coins that are struck within the first 30 days of the mint’s release. The First Strike designation indicates the coin was produced early in the minting process, which may mean better quality due to fresh dies. Unlike FDOI, the FS label does not require the coin to be purchased on the first day, but it must be submitted for grading within the specified timeframe.
As an NGC designation, the First Strike label is used for coins that were produced during first strike ceremonies at the United States Mint.
Authentication and Certification
Authenticating First Day of Issue (FDOI) and First Strike (FS) coins involves verifying the provenance and paperwork. This process can become lengthy, and it is best to purchase coins with these designations from an authoritative and trusted dealer.
Significance and Benefits
First Day of Issue Coins
- Quality and Detail: First Day of Issue coins are among the first struck from new dies, which may result in sharper details and higher quality. Fresh dies tend to produce coins with more precise and defined features.
- Exclusivity: The FDOI designation is exclusive to coins purchased on the very first day of their release. This exclusivity adds a level of prestige and desirability, as collectors value the rarity of owning a coin from the initial batch.
- Historical Significance: FDOI coins often hold historical significance, especially if they are part of a commemorative or limited-edition release.
- Market Value & Investment Potential: FDOI coins typically command higher prices in the market due to their exclusivity.
Notable Examples of FDOI Coins
Some noteworthy examples of FDOI coins include the American Silver Eagle series and numerous modern silver commemorative coins.
- 2016 American Liberty Silver Medal – Issued to celebrate the 225th anniversary of the U.S. Mint.
- 2017 American Liberty 225th Anniversary Gold Coin – A high-relief coin featuring a modern depiction of Liberty.
- 2021 Morgan and Peace Silver Dollars – Celebrating the 100th anniversary of the transition from the Morgan to the Peace Dollar.
- 2019 Apollo 11 50th Anniversary Commemorative Coins – Marking the anniversary of the moon landing.
- 2020 Basketball Hall of Fame Commemorative Coins – Issued in honor of the Naismith Memorial Basketball Hall of Fame.
- 2025-W Proof Silver Eagle Coin – The West Point Mint is known for its high standards, limited editions, and special releases.
First Strike Coins
- Enhanced Quality: First Strike coins are struck within the first 30 days of the mint’s release, often using fresh dies.
- Collector Appeal: The FS designation indicates that the coin was produced early in the minting process, which is a desirable trait for many collectors.
- Market Value & Investment Potential: First Strike coins can appreciate in value over time.
Notable Examples of FS Coins
Some of the same series that are noteworthy as FDOI issues are likewise valuable as First Strike coins, like the 2024-W Silver Eagle FS, as well as:
- 2006 American Buffalo Gold Coin – The first 24-karat gold coin from the U.S. Mint.
- 2009 Ultra High Relief Double Eagle Gold Coin – Inspired by the 1907 Saint-Gaudens design.
- 2014 Kennedy Half-Dollar Gold Coin – Celebrating the 50th anniversary of the Kennedy half-dollar.
Although both designations provide quality assurance and market appeal, FDOI stands out for its exclusivity, whereas FS offers a broader range of opportunities for collectors. By considering certification, historical significance, and investment potential, collectors can make informed decisions that align with their goals.
