What is going on with this $50 Pan-Pac?
Mark
Posts: 3,586 ✭✭✭✭✭
I've seen plenty of copper spots on gold coins but can anyone tell me what is going on with this one: https://ebay.com/itm/1915-S-Pan-Pac-Panama-Pacific-Octagonal-50-Gold-MS-63-PCGS/293032957163?hash=item443a2014eb:g:5BUAAOSw2hhco-H4
Thanks in advance.
Mark
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That would be a hard pass for me. Even the slab appears to be spotted LOL.
I'm thinking a possible storage issue.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
My guess is grease.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
that's a coin that needs conservation.
it's "up for grabs" at 79K, lol.
It looks to me as if the coin was stored for a long time in a holder with velvet cloth in it. It may have been heat or age, but some of the stuff has become attached to the surface of the coin. Conservation might take it off, but you don't know what it will look like under that stuff.
As for the grease argument, yes, that's possible. My octagonal Pan-Pac has a couple of grease spots on it. It must not be much of a problem because CAC approved of the coin as an MS-64.
I like this theory better than my grease guess.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Isn’t it known that grease from the presses leaked onto some of these coins during the coining process?
However, even if this grease is mint made, I’m somewhat surprised it grades MS63. I might have knocked it down to 61 or so!
Weren’t these issues in velvet-lined presentation boxes? As others have said, looks like that to me.
A photo I lifted from the Internet:
Thanks guys. I'm a bit surprised that the coin wasn't conserved but I accept @BillJones point that it's not clear what lies under the spots.
How can you tell it wasn't conserved already and the spots stayed? I'm thinking a high dollar coin like this would of.
@coinJP What you say is certainly a valid point. If it has been conserved, it's a shame that the spots that remain couldn't have been eliminated.
Looks to me, as suggested, to be debris that has stuck to the coin.
If it were me I'd have it removed and take my chances.
I worry anytime I see a five figure coin with unknown residue or dark spotting on it especially with today's rampant coin doctoring. Also given it is a newer holder, it is unclear whether it is stable. The others are probably right, but I wouldn't buy it regardless.
But only one side looks really velvety (for lack of a better word). Why are both sides heavily spotted? If it is velvet, it looks to have been on the surface for a long, long time.
It is a 'residue'...not copper spots.....it could from a deteriorating container (perhaps due to water damage or other environmental factors)...The residue should be completely removed...it looks like a poor job of 'conservation' by a non-professional. Cheers, RickO
Packaging residue, especially from old velvet or satin sticking to a coin or medal, is occasionally encountered - but more frequently with large medals than coins. The authentication company should have removed this - it is not part of the coin.
i agree with the sticky velvet theory.
Doesn't acetone melt velvet? If so conservation would be easy and likely already attempted, no?
Dental pick will clean that right up.
Not even cheapness would get that coin in my possession. Well....cheap...ENOUGH...
No.. not really. Too pricey to mess with a future disappointment. Step up for better.
Try this link:
ma-shops.co.uk/parkavenumis/item.php?id=31361&ref=NGALhome
It looks a touch better in this image.
@Higashiyama Yeah, I agree that is a touch better. But it's still very unappealing, at least to me and apparently to many of the posters in this thread. In my opinion, @rogerb nailed it: If at all possible, that stuff should have been removed prior to encapsulation.
If you end up with “white spots” under the black spots after you remove them, you could end up with “improperly cleaned” which could be worse.
I can see the stuck-on velvet theory. That said, I would never buy an $80k coin that MIGHT get better.
I agree. No sticker... It belongs in the smelter.
I don't mean this as a silly question at all, but has anyone ever placed an inexpensive coin with gunk that needed to be removed on a large beach towel on a plush lawn and then hit it with a lower pressure (1500-1800 psi) power washer without detergent? Does high pressure water do the trick? How are your results? It sounds better than a tooth pick, but I've obviously never tried it. When someone mentioned the dental pick I thought about the water based ones and began to wonder if higher pressures might be do the trick. Obviously I wouldn't experiment on higher valued coins.
...my boy who custom makes gold chains uses a steam-cleaning box and there is no way that gunk would stay on if that coin went into it...I don’t know if that would be wise for coins but that’s how he gets 130k worth of gold to sparkle on Snoops neck
Hmmm, how are you going to hold on to that coin? If you have used a pressure washer much you know the second you hit that coin it's going for a ride somewhere! Now a $50 PanPac might stay put, but seriously doubt anything smaller would.
Drop the top and go thru a car wash.:)