I got a MS70 silver eagle, Big mistake☹️Watch out for white spots on silver eagles before buying
markelman1125
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I made a bad jmentnon this coin when purchasing it at an Antique shop ☹️ I lost mony watch out for white sports before buying.
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Not unless you plan on crossing it over to PCGS, or if you paid too much.
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Do these MS70 ASE's carry much of a premium even in an NGC or PCGS slab?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Already milk spotted in the skirt. OP, hang on to your money while you learn here.
Just cannot understand having bullion certified.
Hi already had this coin for over a week , most of coins I show I had before forum.
That coin looks like it has developed milk spots and would not be graded MS70 right now. There are people that chase first strike labels and MS70 grades but they are mostly for PCGS and less so NGC. I don’t know of any premium attached to an ANACS holder.
Remember that these coins are virtually all perfect as minted.
I yea, the only reson I got it because I thought the grade was MS70, I collect mostly classic coins
True, vary, true
Yep. Look at the milk spots. Return it if you can. Nobody will ever buy this from you as an MS70. Now, it is basically worth a bit more than melt value. The milk spot issue is a big problem with ASEs and the mint has never fully solved the problem. PCGS was willing at one point to pay a reward to anyone who could figure out how to remove them successfully.
For a little while, until they either:
1) Acquire milk spots.
2) Have a large increase in population because someone sent some in (small percentage are certified).
3) Collectors lose interest and are onto the next hot thing.
The resale value on these is very low. I have seen MS69 ASEs and AGEs trade at bullion. We acquired some AGEs from Dillon-Gage once, and about 25% were in PCGS/NGC MS69 holders.
Just buy nice raw ones and put them in airtites. I send coins to ANACS to have in a holder to protect them, not worrying about what grade they put on it. It can always be cracked out later for resale.
A spotted Silver Eagle in anyone's holder is worth very little if anything over melt. A better date might be worth a little bit over melt but the spots ruin the coins value.
I wish I could return it but I got it on vacation at a antique shop, unfortunately I can return it☹️
Sorry for you, but we all pay tuition to learn. Don't let it ruin the hobby for you and someday you'll shake your head and think "why did I do that?" I've made dumb mistakes too so you're not alone.
"Got a flaming heart, can't get my fill"
Yea I am learning, thanks for your advice, I should stick to what I am more Usto, U.S classic coins.
Hopefully you didn't pay too much over bullion value.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
No worry I have bean collecting for over 8 years, I have run into many mistakes in the past.
I did pay too mutch
Can I ask what you paid for it?
Stop now and save yourself alot of money buying graded Silver Eagles or most other bullion silver coins.
The Canadian Mint (RCM) claims to have a treatment to greatly reduce or prevent milk spotting all together but it will take years to convince me that it works.
The treatment started with all 2018 Maple Leaf coins. I have bought a few raw pcs to put back just to see if it works,,,,,,,, I hope it does.
I payed unfortunately 50 buck because I thought MS70 silver eagles were worth around that mutch, unfortunately the red book didn’t list them, I should have done more research.
I lost sum money
That’s a bummer
$50 is a cheap learning experience,,,,,, be gald you don't have any more of them.
Nothing to feel bad about,,,,,, live and learn.
Not all is bad, I got good deals on others coins I have that I am more experienced with.
Yea I am a bit bummed but not realy upsets
At least I pare $342 for my Ms62 1904 half eagle witch at other recent auctions sold for $360-395
Nothing Cool About it you got HOSED! TAKEN! RIPPED OFF! Go get your money back if its on Ebay send it back report them to ebay not as adveritised UNLESS you bought this knowing it had MILK SPOTS.
I got it at an antique shop unfortunately
To far away to go back
The Spots are hard to notice
Ha! Perception over reality.
You get to learn from all our bad deals over the years. I’ve had my share of Silver Eagle debacles.
I do love the look of the old ANACs holders. Especially at spot.
Exactly...
PCGS First strike ASE (recent years) normally goes for $33-$35 one ebay.
kiss it goodbye with milk spot
OK I think we have established that it was not a good investment but I look at it this way: it is an education, and not too expensive a one at that. Keep it as a reminder. Also, if silver ever goes crazy again maybe you can sell it for what you paid for it.
A nice SE in a slab is nice to have, but I would never pay much premium for one, MS70 or not. I do have a few random SEs in slabs.
Yup people make mistakes, I should have looked more carefully and did more reaserch on this bullion coin before I bought it. Well what can I say I will just move on and stick classic U.s coins like Morgan’s, old u.s denomination and classic u.s gold coins.
Disagree - sort of. It's a milk-spotted ANACS MS70 now. It will be a milk-spotted ANACS MS70 later. There's no such thing as an "MS70" price for these things. They are specific to the service (PCGS & NGC 70s aren't priced the same). And a milk-spotted PCGS 70 won't sell for the same as a PCGS 70 without milk spots.
no beat yourself up too bad @markelman1125 . there are probably many of us here who have lost $50 on a coin; I know for damn sure I have.
you coin happens to be very liquid.
You may want to have your AGFA-LUPE handy going on your trip .... you just never know
I would crack it for a bath and experiment different ways to get it toned
If that becomes your biggest mistake, consider yourself lucky.
EAC 6024
Good idea. IF you can get a "natural" attractive toning the spots will be secondary, and you might be back in the money.
Don’t worry I had worse mistakes, I just hope others people won’t make the same mistake.
Same here. Unless it is something like the 95W ASE Proof or something with a super limited printing. But...the good thing is, there are people who like it and I'm glad they have the option available!
Buying MS70 bullion is a gamble.
That's because ASE bullion silver can development spots months after grading. And it's not just the ASE; to a greater or lesser degree, bullion from other Mints can also suffer from spotting.
That's why third-party grading companies don't guarantee the grade. Doesn't matter whether it's ANACS, NGC, or PCGS. For example:
"The PCGS Guarantee does not apply to coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion." https://www.pcgs.com/guarantee
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Thanks for the information
Before buying, read the coin, not the label.
ASE spots are not an ANACS exclusive problem, they occur in all the holders and on coins not in a holder. Buying MS70 ASEs is a no win situation.
Repetition of ignorance is ignorance raised to the power two.
Milk spotted silver eagles come in all the time in 70 holders, pcgs, ngc and anacs as mentioned. Litterly worth bullion value IMO. Lots of folks come in trying to cash in on the 70, only to point out the issues mentioned. I advice them will pay bullion or sell them yourself on ebay.
@markelman1125....We have all made some errors in our purchases....This is not a terrible mistake, the price you paid may be well above actual value, but still well below disaster. I am sure you could reclaim some of your investment quickly on ebay or even the BST - bullion stackers really do not worry about milkspots. Move on, have fun... Cheers, RickO
lesson learned. i believe youll do a whole lot better now
This is true...and it seems to take some time for the spots to show up. Since the OP's coin is a 'First Strike' most likely it was slabbed quickly to capitalize on maximum resale value and the spots were not there when slabbed. It is unfortunate for sure and sorry you had to experience this. I casually collect ASE's and avoid getting any for my Dansco's etc. until a few years down the road to avoid stuff like this. Sometimes I have to pay a small premium for coins in arrears but not too often. I added 2015's to my albums this year.
K
Some of the early ones, late 80's early 90's can bring stupid numbers in 70 (without spots of course)
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