I need help with my 95W SAE

Rena · July 17, 2005 9:20AM

I had my in-laws over for a dinner and coin grading gathering today. So after we were done looking at my Father-in-laws gold pieces, I took out my 95W SAE to show and discuss whether it was a 69 or 70. In our family, we don't slab...we appreciate raw.

I was just telling everyone about the milk spot situation with SAEs when... oh my God...there was one on my preciuos Eagle. I thought I was going to be sick.

I know there has been some discussion on milk spots & SAEs, but does anyone have some idea of how much value this coin could lose because of this?

Is there any way to remove the spot?

Will it get worse?

Should I sell before it gets worse?

Please help!

Thanks in advance,

Rena

Russ · July 17, 2005 9:25AM

On a coin of this value, I would suggest an immediate trip to NCS for conservation. The longer you wait, the more embedded the spot will become.

Russ, NCNE

Tootawl · July 17, 2005 9:39AM

<< On a coin of this value, I would suggest an immediate trip to NCS for conservation. The longer you wait, the more embedded the spot will become.

Russ, NCNE >>

I agree with Russ. Something like a 95W SAE should be preserved at all costs.

CoinHusker · July 17, 2005 9:49AM

Russ is right. I can't tell you how sorry I am to hear what has happened.

If I'm not mistaken, I thought the previous discussion's all focused on slabbed SAE's turning in the slabs with raw examples staying relatively safe.

These @#$*@&!* SAE's are beginning to really look like long term trouble.

This news is absolutely horrible.

robertpr · July 17, 2005 10:40AM

Yeah, overnight that baby to NCS, Stat!

meos1 · July 17, 2005 11:01AM

Rena,

How about some pics?

Dan

291fifth · July 17, 2005 11:50AM

After you have had it conserved and slabbed...take your profit.

meos1 · July 17, 2005 12:03PM

After you have had it conserved and slabbed...take your profit.

Why would you say that? Do you believe that there will be a drop in the price support?

Dan

robertpr · July 17, 2005 12:05PM

<< After you have had it conserved and slabbed...take your profit.

Why would you say that? Do you believe that there will be a drop in the price support?

Dan >>

He believes the surfaces may remain unstable even after conservation.

meos1 · July 17, 2005 12:10PM

I would disagree with this advice. Passing on coins which are compromised and suspected as instabile would not be in the best interest of the hobby.

Dan

291fifth · July 17, 2005 12:17PM

<< After you have had it conserved and slabbed...take your profit.

Why would you say that? Do you believe that there will be a drop in the price support?

Dan >>

My comment has nothing to do with the "stability of the surfaces after conservation." I believe the item in question is fully priced. When coins are fully priced and the market is active it is a good time to take a profit.

stev32k · July 17, 2005 12:28PM

The mint/PCGS/someone really needs to find out what is causing these milk spot problems. They seem to be showing up a lot. There is something about the SAEs that is different from other coinage. Either the raw material, the process of minting, or the post minting process is causing problems.

robertpr · July 17, 2005 12:30PM

<< 

<< After you have had it conserved and slabbed...take your profit.

Why would you say that? Do you believe that there will be a drop in the price support?

Dan >>

My comment has nothing to do with the "stability of the surfaces after conservation." I believe the item in question is fully priced. When coins are fully priced and the market is active it is a good time to take a profit. >>

I see. I can't say I see it as a value either. On the other hand, if they stop making silver eagles (or change the design) tomorrow, the whole series will see increases and it could go through the roof (further through the roof).

BAJJERFAN · July 17, 2005 12:48PM

<< I would disagree with this advice. Passing on coins which are compromised and suspected as instabile would not be in the best interest of the hobby. >>

So its better for the owner to get out the ketchup and "eat" a big loss since there is no other avenue of recourse?

Russ · July 17, 2005 12:52PM

<< I would disagree with this advice. Passing on coins which are compromised and suspected as instabile would not be in the best interest of the hobby. >>

It would not be unstable once it's conserved, and the alternative is that he watches as his valuable coin becomes worse and worse.

Russ, NCNE

Rena · July 17, 2005 11:28PM

Thanks to you all for your advice on this. I can't tell you how sick I am over this. I paid 1K for the eagle set when it came out, and then sold the gold a few years later for 1K. So anything is a profit on this.

But most of you can appreciate the fact that I never had intentions of selling this beauty...it was just the most prized coin I owned and I am very proud of it.

Now my next question would be to those who suggest slabbing it - if most of the SAE milk spots have been reported to appear on slabs, would it be wise to have it slabbed?

And do those who suggested taking my profit and running - are you advising this because you feel the value is going to go south?

Rena

ER · July 17, 2005 11:36PM

<< Thanks to you all for your advice on this. I can't tell you how sick I am over this. I paid 1K for the eagle set when it came out, and then sold the gold a few years later for 1K. So anything is a profit on this.

But most of you can appreciate the fact that I never had intentions of selling this beauty...it was just the most prized coin I owned and I am very proud of it.

Now my next question would be to those who suggest slabbing it - if most of the SAE milk spots have been reported to appear on slabs, would it be wise to have it slabbed?

And do those who suggested taking my profit and running - are you advising this because you feel the value is going to go south?

Rena >>

I think it's not the slabs that make the spots appear. They just happen to appear after slabbing.
Even if it's going down, which I doubt it, you'd still be on the plus side. JMHO.

mhammerman · July 17, 2005 11:49PM

Mine are doing the same thing. My wife started a collection for me, when issued, with an album and everything. Now, most of them have milk spots and they are all MS as issued. A dealer I went to said this may be good to have milkspots because it will cause toning. Well, he is out in the street with that one because they are spots, not the complete surface. Very disappointed in this situation. Now I have to try something to conserve my coins myself and the longer I wait, the worse it gets so...what to do?

Danegeld · July 17, 2005 11:49PM

I understand it came from using impure water at the mint.

notlogical · July 17, 2005 11:57PM

My Dad got really mad when he saw how many of his silver eagle's had spots.

BillJones · July 18, 2005 12:12AM

A couple of comments.

First, with a mintage of 30,125 coins and a survival rate of virtually 100%, the 1995-W silver eagle is becoming a very overrated coin IMO. The Gray Sheet bid / ask is now $4,300 / $4,550, which is WAY too high for a mintage like that. Yes, the silver eagles are popular coins, but if this keeps up, this coin is going to be in competition with the 1907 High Relief $20 gold as the most common high priced coin in the world.

I’m no good at predicting what the prices of things will be in the future, but I don’t think I’d want to pay over 4 grand for this coin. Just an opinion.

Still I understand the collectors’ attitude that you don’t want to give up the crown jewel of your collection. I agree with the others. Go for NCS preservation and NGC certification. Chances are when they are done the coin will be stable, and if you store it in an area with low humidity and constant temperatures you should be OK.

Second, I don’t obsess about toning marks on modern silver coins for the most part. I know that this coin is a special case, and you have a right to be upset. But by in large silver is going to tone over time, and I don’t let it bother me for the most part.

At any rate this should serve as warning to those who buy PR and MS-70 slabbed coins. Nature is constantly out to bring the creations of man back to their natural state. When you pay a huge premium for perfection, you add one more risk factor to the mix, in addition to collector demand factors. It’s environmental risk, and that’s one form of risk that I generally try to avoid.

FullStrike · July 18, 2005 12:28AM

If the Coin was in my possession I think I'd do as many are advising. Ship it out for conservation, then sell that baby.

I can only relate this coin to the 73 Brown Ike back in the 70's. That Coin was the key date and it was quite higher than the other coins in the series. Nothing like this SAE of yours but high.

The value on this coin of yours is truely astounding. Looks like overspeculation to me. Who will pay that much for a coin? I think you should find out.

au58 · July 18, 2005 1:31AM

Think about it. At the price of this coin, you can two very nice pre-1800 bust dollars.

BillJones · July 18, 2005 1:45AM

<< Think about it. At the price of this coin, you can two very nice pre-1800 bust dollars. >>

Well, you probably have not shopped for pre-1800 Bust dollars in while ... Some of them are getting overpriced too unless they are really attractive ... Still you get the idea.

291fifth · July 18, 2005 3:14AM

<< Thanks to you all for your advice on this. I can't tell you how sick I am over this. I paid 1K for the eagle set when it came out, and then sold the gold a few years later for 1K. So anything is a profit on this.

But most of you can appreciate the fact that I never had intentions of selling this beauty...it was just the most prized coin I owned and I am very proud of it.

Now my next question would be to those who suggest slabbing it - if most of the SAE milk spots have been reported to appear on slabs, would it be wise to have it slabbed?

And do those who suggested taking my profit and running - are you advising this because you feel the value is going to go south?

Rena >>

A wise investor takes his profit when he can and doesn't try to time markets. I have no idea if a downturn for this item is likely in the near term but I do know the price has risen a lot in recent times.

Rena · July 18, 2005 9:01PM

Thanks again to Russ, Bill and everyone else for the advice.

Can anyone tell me approximately how much it would cost to conserve and grade this?

Rena

Dennis88 · July 18, 2005 9:05PM

<< Can anyone tell me approximately how much it would cost to conserve and grade this?

Rena >>

Link You can also decide to conserve it without slabbing

Dennis

I need help with my 95W SAE

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