The Services Will Now Grade Heavily Dipped Out Gold

dragon

At the Mid-America Show in Chicago the other day, I was looking through the certified gold offerings of a well known national dealer. He had one case with nothing but Saints all holdered by one of the two top grading services, and there was a group of about 15-20 common date Saints in this case that looked like they had just spent a week soaking in a tub of Jeweluster, I mean they really looked awful! They all had that very unnatural, bright, off color gold look to them, almost like that look of dipped out copper, and it was obvious they had been dipped, probably more than once. And these were all coins graded between MS64 and MS66. Some of the pieces looked so unnatural, they almost appeared to be whizzed at first glance, but they were not.

I think it is a mistake for one of the top two services to holder coins like these, they really looked just awful and would be virtually unsaleable if they were raw coins IMO.


dragon

coiNuts

I hope that it was the N, and not the P, because so many of the services have degraded themselves for a buck, that it is sad

MrEureka

Some of the pieces looked so unnatural, they almost appeared to be whizzed at first glance...

It's very difficult for me to believe that the coins looked that bad.

mbbiker

I was at that show looking for a specific piece of gold so i went to dealers that had cases full of gold and i agree some of the slabbed gold i saw was BAD!!! if raw i would pay spot because they just looked that bad.

MrEureka

some of the slabbed gold i saw was BAD!!! if raw i would pay spot because they just looked that bad.

If you mean that you wouldn't pay more than spot, I also find that very hard to believe.

oreville

Dipped out copper colored?

I heard many concerns about the SSCA gold but never quite like this. Could this have just been a bad streak on a bad day for one of the services?

How was the contrast between the coin and the holder?

WWBillman

Come on do tell us the name of the grading service. Not like we do not already know

coiNuts

NTC........no that's not it we've seen dipped out everything in those
ANACS......no Randy and the boys love to NET grade
ACG........well let's just move on
ICG.........who?
NGC........................................................................
PCGS......................................................................

darktone

Dragon I agree totally! I saw much of that stuff too! It not too bad when it's a hardly noticable cleaning but this is getting really awful. mike

BigD5

It's probably all lasered. I have had two fairly heavy hitters tell me it's an epidemic right now, and it's tough to see. Both dealers made similar commentary that most recently graded $20, and St. Gaudens are worked on in this method.
Personally, I don't do enough gold to know that for sure, but.............

Hey, they got away with the SS gold offerings, so why not the rest of the gold out there?

barberlover

Dragon, If the services have all [and I do mean all] grade dipped out silver, what made you think gold would not come next ?

dragon

barberlover,

I was a bit surprised because everyone already knows that dipped silver coins are and have been holdered since the onset of 3rd party grading, and many times silver coins will still look natural in appearance after dipping. These Saints looked just terrible, a very bright, barren, unnatural look, and they should not have been holdered IMO just as dipped copper will normally not get holdered.

dragon

coinkat

Now some of the $10 libs and $20 No Motto Libs that I have seen slabbed have been bad...really bad to the point of embarrassment. Originality has always been a problem for No motto Libs that grade EF40 through MS61. Unfortunately, I have not bought a US gold coin in 8-9 months and it is not because I don't look...I just don't like what I see.

As for the Saints, dipping is a problem but I still think that if you look there are still nice originals out there. Look at the pop reports on the Saints... with the exception of the truly rare dates, there are fairly large numbers that have been graded and even if we discount those numbers to account for the coins that are not original, there are reasonable quantities available. I really do not think the same can be said of the $10 and $20 no motto Libs with exception of the 1857-s $20 and even those were "curated".