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Newbie question: Coppper spots/gold
tlake22
Posts: 299 ✭✭
I have a newbie question for all the experts here. I have a couple of AGE's with small copper spots. Would that prohibit them from getting a 70 grade? Other than the spots, I see no other imperfections. Thanks in advance for the comments.
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https://pcgs.com/setregistry/showcase/2819
<< <i>The reason that I ask is that on a silver coins, the toning does not affect the grade( I think), so why would the copper spots do that? Isn't that a form of toning? >>
Copper spots form on gold when the copper alloy in the piece is not properly mixed. In a sense it is a defect in the way the coin was made. In my view any coin that has a mint caused defect cannot be an MS-70. In fact mint caused defects, such as poor strikes, planchet defects and struck-throughs, can disqualify a coin from making the lower “honor” Mint State grades, like MS-66 and higher.
Toning on silver is the result of the natural reactions of the coin to the air. When it is very light in color, an MS-70 could have some slight toning. A black spot, commonly but inaccurately called “carbon spots,” are worse defects and would automatically disqualify a coin from getting the MS-70 grade.
At any rate, the MS-70 grade is extremely rare IMO, except on specially made coins such as “Uncirculated” modern commemorative coins. I would argue that these pieces are really “specimens” in a sense, but I’d be in the minority with opinion.
MS70 with the spots. I took them to a coin shop to see what the coin shop would pay (and to make sure they were real) and was offered
5% over melt. Eventually, I traded them with another dealer at 10% over melt against a purchase
of PCGS slabbed AU58 Liberty Double Eagles. Gold had risen from $1200 to $1750 and the premium on the slabbed double eagles was down.
I don't know if they had the spots when they were graded or if the spots appeared later.
To me, MS70 slabbed American Gold Eagles is a bit of a con job. The 1/10 Eagle was supposedly
worth $500 in PCGS MS70. but I never saw anyone pay more than $200, even on Ebay.
<< <i>I had a set of PCGS MS70 American Eagles which I purchased at a very small premium over melt. Three of the coins had spots. I was thinking how could they be
MS70 with the spots. I took them to a coin shop to see what the coin shop would pay (and to make sure they were real) and was offered
5% over melt. Eventually, I traded them with another dealer at 10% over melt against a purchase
of PCGS slabbed AU58 Liberty Double Eagles. Gold had risen from $1200 to $1750 and the premium on the slabbed double eagles was down.
I don't know if they had the spots when they were graded or if the spots appeared later.
To me, MS70 slabbed American Gold Eagles is a bit of a con job. The 1/10 Eagle was supposedly
worth $500 in PCGS MS70. but I never saw anyone pay more than $200, even on Ebay. >>
And the only way to stop it is for people to stop sending these bullion coins in the be graded. Eagles are meant to be a way for poeple to obtain silver bullion in a convenient manner. Paying more money to "grade" them is stupid.