First day of issue (FDOI) coins are popular among many because they are the first coins of a batch to be minted. As a result, people like to collect them. If you’re interested in buying an FDOI coin (or you already have one and are looking to sell), you might wonder if FDOI coins are worth more than other coins.
First day of issue (FDOI) coins are often worth more than other coins because they come with a unique label that states they were issued on the first day of minting. Prices can vary, depending on the specific type and design. A coin can only be considered FDOI if it has been graded.
Interested in learning more about FDOI coins and their worth? Keep reading to get all the information you need!
How Much They’re Worth
FDOI coins can be worth different amounts, depending on the specific coin. While certain coins might cost $70 or less, others can cost hundreds (as seen on CoinAdvisor).
One of the reasons the price is a little higher is that the cost of grading the coin is incorporated into the total price, so this drives it up a little. Generally, FDOI coins are worth more than coins released in the days and weeks after, even if they are made of the same materials and have the same designs and logos.
Reasons for the High Value
Now that you know FDOI coins are often worth more than other types, you might wonder why that is. There are a few reasons people are willing to spend more on these special coins, and I’ll discuss each below.
There Is a High Demand
First and foremost, demand for FDOI coins is generally high. If the demand is high, people are willing to spend more money on coins, which drives the price up higher.
Some coin collectors have specific goals and coin types that they’re interested in finding, and an FDOI coin is often one of them. If adding such a coin to their collection is highly important, a coin collector will generally be willing to spend a decent amount of money on one (especially if it completes their collection).
If the demand for FDOI coins were to one day dwindle, they likely wouldn’t be worth as much anymore.
Each Coin Is Checked and Designated
Every single FDOI coin comes in a special package that says “First Day of Issue” and some other important information. Since you wouldn’t find this with any other type of coin, it drives the value of an FDOI coin up.
In fact, the packaging and designation are often the only reason an FDOI coin is considered more valuable than other coins at all.
FDOI Marketing Is Strong
FDOI coins are sometimes advertised in different places (like on the TV or radio), and this gets people who otherwise wouldn’t be interested in coins involved and interested in purchasing such coins.
The advertisements for FDOI coins create buzz and make more people interested in the idea of owning one. The coin grading companies (like NGC) also like to promote the FDOI and “first release” coins to potential buyers by posting informative information on their websites.
Grading companies also attract coin collectors by offering memberships for their services, meaning people can send their coins directly to the grading service to be designated.
People Like To Own “Firsts”
Owning a “first” of something is seen as desirable by many. With an FDOI coin, people have the opportunity to own one of the first minted coins of that type, which is why they’re willing to spend more money on them.
Even if the coins are modern and don’t contain any unique design or artwork, they will have the FDOI seal, a desirable attribute to have.
First Strike Coin Vs. First Day of Issue Coin
A first strike coin is not usually worth more than a first day of issue coin. In fact, an FDOI coin is usually worth more than a first strike. While an FDOI coin is one that was minted on the very first day, a first strike or “early release” coin is issued in the first 30 days of release.
Still, a First Strike coin is often worth more than a regular coin, so you can still get some money for it. As you can imagine, the main difference between a first strike and an FDOI coin is the writing on the packaging. Most collectors prefer an FDOI coin over a first strike, but some might want to have both types in their collections.
Negatives of Purchasing an FDOI Coin
Thus far, I’ve discussed how much FDOI coins cost and why they’re considered so valuable. In this section, I will mention the main negatives of these coins. It’s important to know about the cons before purchasing to ensure you have all the relevant information.
Below are the primary negatives of purchasing FDOI coins:
The Coins Are Often No Different From Any Other Coin
Despite what one might think, FDOI coins are usually no different from any other coin. The main thing that makes them unique is the seal and packaging they come in. For example, if someone were to lose the packaging that states “First Day of Release,” the coin’s value would diminish immediately.
Despite this, people are still happy to spend a lot of money on FDOI coins. Once you understand that many of them are not so unique beneath the surface, you can decide whether or not to purchase one.
Not Everyone Sees Their Value
If you want to sell your FDOI coin at some point, you will hopefully find someone who is interested. However, not all coin collectors will be excited about such a coin. So, you must be lucky enough to find a buyer willing to spend a certain amount.
Many coin collectors are more interested in historic coins or special edition pieces, so they won’t have the desire to collect FDOI items. Keep this in mind when deciding whether or not to purchase an FDOI coin!
There Are Grading Fees
You can’t just purchase a coin and declare it FDOI without any authentication. You must either send it to a grading service (like PCGS) for a fee or purchase the coin already graded. Unfortunately, the grading fee is incorporated into the price, which makes it slightly more expensive.
If you plan to purchase a coin that hasn’t yet been graded, make sure that it’s eligible to be sent for grading and that you’re aware of the fees. In some instances, only groups of coins can be graded as FDOI, so having only one to get graded could be an issue.
How To Keep the Value
When owning an FDOI coin, it’s vital to keep it in good condition so that it remains as valuable as possible. Below are some of the things you should do if you own such a coin:
Avoid Touching It
An FDOI coin should be protected, like any other collector coin. Touching frequently can cause wear and tear or may even scratch the coin, all of which could devalue it. Additionally, hands contain all kinds of germs, chemicals, and dirt, so touching a valuable coin with unwashed hands is a big no-no!
Once you keep your FDOI coin protected and out of harm’s way, it should remain in good condition.
Avoid Cleaning It
Some people are tempted to clean their coins when they notice some dirt or oxidization, but it’s generally not a good idea. Cleaning can wear away the coin, making it much less valuable. The wearing away can ruin the appearance of the coin and cause damage, making it harder to sell in the future.
Although cleaning might appear to make a coin look better afterward, a professional can spot scratches and small damage easily. Also, the products used to clean coins (like vinegar and soap) are harsh.
Keep It Dry and Protected
Coins are made of different metals, and metals can corrode over time. Things like moisture and oxygen promote corrosion, so exposing your FDOI coins to these elements can be damaging in the long run. Be careful when storing FDOI coins, ensuring they always remain in a sheltered, dry place.
Too much moisture can quickly cause corrosion, which discolors the coin. Corroded coins often appear green or blue; as you can imagine, this discoloration can significantly impact the value of the coins.
Selling an FDOI Coin
After purchasing an FDOI coin, you might want to keep it for a long time or the rest of your life. However, if you’re interested in selling it at some point, you may wonder where to do that.
When selling an FDOI coin, you want to get the best deal. Thankfully, there are many places to sell coins, so you shouldn’t have much trouble finding a buyer. Examples of places to sell FDOI coins include:
- Collector coin stores
- Online stores
- Online marketplaces like eBay
Before you go, don’t forget to check out my article on spotting double die coins, as well: How to Spot Double Die Coins (8 Simple Tips) – It’s a fascinating read that may help you make even more money as a coin collector.
Conclusion
First day of issue (FDOI) coins are generally worth more than normal coins because they come with a seal and special packaging. After reading this article, you should have a better understanding of these coins, why they’re valuable, and the negatives associated with them.
