The U.S. Mint maintains that there is no widely accepted and standardized numismatic industry definition of First Strike coins.
The lawsuit was filed against the two coin grading companies: Numismatic Guaranty Corp., (NGC) based in Sarasota, Fla., and Professional Coin Grading Service, (PCGS) of Newport Beach, California.
[4] In 2007 NGC settled the lawsuit by paying money to collectors and the attorneys.
[5] The lawsuit revealed that the designation of "First strike" is essentially a successful marketing tool.
While PCGS retains the use of the term, NGC has changed their designation from "first strike" to a more accurate description: "Early Release".