Would you sell a Silver Eagle in a PR69 Holder that had Milk Spots?

BECOKA · June 6, 2006 7:33AM

I have done my best to return coins with issues to PCGS. I know many miled ASE's go to e-bay. If you were a major dealer would you take the time to do the right thing or just sell them as is?

I will post a link to a 1995W at a reputable dealer auction site but I want to contact them first.

What are your thoughts?

FatMan · June 6, 2006 7:48AM

Sure, with an image and written disclosure the spots exist. The coin is what it is, and the holder is what it is. The coin is not the holder and the holder is not the coin. Many would be interested in buying the coin at a discount to the number on the holder as it is the holder that scores points in the registry game, not the coin.

Russ · June 6, 2006 7:54AM

<< Sure, with an image and written disclosure the spots exist. >>

Ditto. But, since you're talking about a 1995-W I'd be weeping.

Russ, NCNE

Bochiman · June 6, 2006 7:58AM

<< 

<< Sure, with an image and written disclosure the spots exist. >>

Ditto. But, since you're talking about a 1995-W I'd be weeping.

Russ, NCNE >>

Why? Laura says they are just worth bullion value anyway

BECOKA · June 6, 2006 7:58AM

<< Sure, with an image and written disclosure the spots exist. The coin is what it is, and the holder is what it is. The coin is not the holder and the holder is not the coin. Many would be interested in buying the coin at a discount to the number on the holder as it is the holder that scores points in the registry game, not the coin. >>

So you are saying you would rather try to sell a coin with white splotches than try and submit it under the PCGS guarantee and get close to market value for it?

I guess I should add to my original question, I am comfortable with PCGS as I have returned many of these. I just got 3 sets of NGC coins and over half have the spots. I am trying to decide if it is worth selling them with a disclaimer or trying the NGC guarantee for the first time.

BECOKA · June 6, 2006 7:59AM

<< 

<< 

<< Sure, with an image and written disclosure the spots exist. >>

Ditto. But, since you're talking about a 1995-W I'd be weeping.

Russ, NCNE >>

Why? Laura says they are just worth bullion value anyway

>>

Actually for most of them so does PCGS when the have spots.

BAJJERFAN · June 6, 2006 8:02AM

If these spots appear with or without the holder why is it PCGS's liability?

BECOKA · June 6, 2006 8:06AM

<< If these spots appear with or without the holder why is it PCGS's liability? >>

Because PCGS beleives in the sight unseen. If the spots are there when time for grading they will not slab them. If the spots appear post grading then the grade on the slab is no longer reflective of what is in it. To PCGS's credit they do work with customers to correct these issues.

FatMan · June 6, 2006 8:08AM

<< So you are saying you would rather try to sell a coin with white splotches than try and submit it under the PCGS guarantee and get close to market value for it? >>

It depends on several things such as: Do I have the time to wait for PCGS? How much value is in question? Is it my coin or am I selling for someone else?

For silver eagles I bet the value of the slab outweighs the impact of the spots on the coin for hundreds of Registry players. The coin is worth melt outside of the slab. The value is the holder. Lets face it, the registry is the home of most overgraded coins. This is no different.

BAJJERFAN · June 6, 2006 8:09AM

I guess they are being nice guys even tho they don't need to be.

BECOKA · June 6, 2006 8:13AM

<< I guess they are being nice guys even tho they don't need to be.

>>

One reason I am willing to put up with long waits for grading. Other aspects of the company make it worth while.

<< It depends on several things such as: Do I have the time to wait for PCGS? How much value is in question? Is it my coin or am I selling for someone else?

For silver eagles I bet the value of the slab outweighs the impact of the spots on the coin for hundreds of Registry players. The coin is worth melt outside of the slab. The value is the holder. Lets face it, the registry is the home of most overgraded coins. This is no different. >>

Good point, if you want a cheap way of building a registry I guess finding problem coins at a discount just to use the serial number works. Although I think it is silly as I would rather own a nice looking coin over one of these any day.

CarlWohlforth · June 6, 2006 9:26AM

Please do try the NGC guarantee. It will be instructive to see if they are OK with milk spots on their ASEs.

mamarubie · June 6, 2006 11:45PM

I would be really interested in what your 95W SAE comes back in grade. The same thing happened to me about a year ago. I decided to bring it to a dealer I find reliable and I sold it raw. There were two spots on the reverse. I was afraid to hold it any longer and I figured if I tried to have it slabbed it would be a waste of time and money.

BECOKA · June 7, 2006 12:38AM

<< I would be really interested in what your 95W SAE comes back in grade. The same thing happened to me about a year ago. I decided to bring it to a dealer I find reliable and I sold it raw. There were two spots on the reverse. I was afraid to hold it any longer and I figured if I tried to have it slabbed it would be a waste of time and money. >>

Sorry, I sold a perfect 95W last year. I was looking a new ones on a reputable dealer site that were selling for $6100 and the reverse was covered in white bird poop. I just got a reply and they said that if someone were to make and offer they would sell it at a discount.

They did not respond to my question about market acceptance of spots or if they realize that the coin in the holder is no longer what the label says.

I will be returning a bunch to NGC to see if they support this or not as I still have a hard time selling them with spots.

TwoSides2aCoin · June 7, 2006 1:45AM

NOoooooooooooooooooooooooooooooooooooooooo I would NOT sell a 1995 W PR69 in anyone's holder, whether it had milk spots or not.

Why ?

the answer is simple:

RARITY

The profit margin is small with problems, so like wine, it would have to go to the cellar to age.

Bochiman · June 7, 2006 2:56AM

If I recall correctly, PCGS has stated that minor white spotting won't affect a grade (except for MS70). They have also said they would look at, and take care of if appropriate, any that get sent for them to look at.

BECOKA · June 7, 2006 3:39AM

<< If I recall correctly, PCGS has stated that minor white spotting won't affect a grade (except for MS70). They have also said they would look at, and take care of if appropriate, any that get sent for them to look at. >>

True, I sent in 20 2004 Proofs that had the beginning signs and PCGS removed any sign and promptly re-holdered them and shipped them back. I have had to return severl PR70 coins and the have reimbursed accordingly.

CoinHusker · June 7, 2006 4:30AM

Over 40% of my 1986-2005 PCGS MS69 SAE set developed milk spots.

Some small some hideously large all very noticeable. Instead of submitting them for a spot review, I decided to cracked them all out, put them in a Dansco and will enjoy watching them tone.

When SAE's give you milk spots, might as well make a milk shake.

mamarubie · June 8, 2006 1:11AM

It's hard to make a milkshake with 96W SAE.

In other words, it's a tough pill to swallow by just sticking a potentially $5000+ coin in a Dansco.

mamarubie · June 8, 2006 1:11AM

Sorry...95W

TwoSides2aCoin · June 8, 2006 2:08AM

<< Over 40% of my 1986-2005 PCGS MS69 SAE set developed milk spots.

Some small some hideously large all very noticeable. Instead of submitting them for a spot review, I decided to cracked them all out, put them in a Dansco and will enjoy watching them tone.

When SAE's give you milk spots, might as well make a milk shake.

>>

now that was funny, Mitch !

Too funny. (just the milk shake part...not the spots)

CoinHusker · June 8, 2006 4:29AM

<< It's hard to make a milkshake with 96W SAE.

In other words, it's a tough pill to swallow by just sticking a potentially $5000+ coin in a Dansco. >>

Mine were all MS not proofs so I didn't have to live with that heartache. (Mine was bad enough)

If you want to read about heartache with a 95W with spots read this thread.

Link

BECOKA · June 8, 2006 5:00AM

<< 

<< It's hard to make a milkshake with 96W SAE.

In other words, it's a tough pill to swallow by just sticking a potentially $5000+ coin in a Dansco. >>

Mine were all MS not proofs so I didn't have to live with that heartache. (Mine was bad enough)

If you want to read about heartache with a 95W with spots read this thread.

Link >>

Sorry, the link does not work.?

CoinHusker · June 8, 2006 5:05AM

I double checked the link and it should work. Darn technology

Here's the URL

http://forums.collectors.com/messageview.cfm?catid=26threadid=415602&highlight_key=y&keyword1=95W

sorry

BECOKA · June 8, 2006 5:09AM

<< I double checked the link and it should work. Darn technology

Here's the URL

http://forums.collectors.com/messageview.cfm?catid=26threadid=415602&highlight_key=y&keyword1=95W

sorry

>>

I just get a Forum error page. Maybe the server is just busy.

Would you sell a Silver Eagle in a PR69 Holder that had Milk Spots?

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