Question (for Wondercoin, or anyone) about PCGS MS-70 Silver Eagles (non-W Uncs)

jmski52 · October 13, 2009 3:08AM

I noticed that very few Unc Silver Eagles ever make a 70 grade. To wit - only 11 of them from 1986 through 2005 have ever been graded MS-70.

Here's my question. How could 55 of the 2006 and 165 of the 2008 Silver Eagles be given MS-70, while only 1 of the 2007 Silver Eagles made 70?

Did more people start submitting them in 2006? What happened in 2007? Did the Mint start handling them more carefully in 2006 than in previous years?

I'm just curious. Does anyone know if the NGC pops show a comparable situation?

AndyMac · October 13, 2009 11:41AM

Looks like there are over 250 MS 70 eagles on Ebay Ebay Link

smokincoin · October 13, 2009 11:45AM

I think it had to do with milk-spotting & a subsequent "relaxation" of grading/buy back policy. Right?
edited to add: "/buy back".

Swampboy · October 13, 2009 11:51AM

FWIW my PCGS 2007-W showed a population of 978 when I just checked my Inventory.

OPA · October 13, 2009 12:36PM

PCGS did not start giving out MS70 grades for ASE's until either late 2006 or early 2007. Prior to that, the highest grade was an MS69, because of the potential milk spot problem. A lot of ASE's that had a 69 grade were subsequently resubmitted for grade review and a few received the coveted MS70.

jmski52 · October 13, 2009 12:44PM

Looks like there are over 250 MS 70 eagles on Ebay Ebay Link

My question only concerns the non-West Point, Regular Uncs. Sorry for the confusion.

OPA · October 13, 2009 12:45PM

<< <i>Looks like there are over 250 MS 70 eagles on Ebay Ebay Link >>

Only 100 are in PCGS holders and none dated prior to 2006....

OPA · October 13, 2009 12:50PM

<< <i>Looks like there are over 250 MS 70 eagles on Ebay Ebay Link

My question only concerns the non-West Point, Regular Uncs. Sorry for the confusion. >>

<< <i>PCGS did not start giving out MS70 grades for ASE's until either late 2006 or early 2007. Prior to that, the highest grade was an MS69, because of the potential milk spot problem. A lot of ASE's that had a 69 grade were subsequently resubmitted for grade review and a few received the coveted MS70. >>

notwilight · October 13, 2009 12:50PM

<< <i>PCGS did not start giving out MS70 grades for ASE's until either late 2006 or early 2007. Prior to that, the highest grade was an MS69, because of the potential milk spot problem. A lot of ASE's that had a 69 grade were subsequently resubmitted for grade review and a few received the coveted MS70. >>

That is the correct answer. So now a very few of the previous years are getting a 70. --Jerry

wondercoin · October 13, 2009 1:04PM

As I recall, PCGS had graded MS70 Silver Eagles for quite a while. A dozen or two graded MS70 over the years (the exact count is tough as they have bought some back throughout the years) - I seem to recall selling a 1986 MS70 to a board member a number of years ago. Then the coins started spotting (I think you can see many of the spotted coins by doing a search into the Teletrade archives where I recall some had sold over the years). PCGS essentially put a halt to grading MS70's due to the spotting problem. Years passed. Slowly, PCGS has allowed the grading of MS70 Silver Eagles on a year by year basis. 2009 was a big year for PCGS-MS70 Silver Eagles - I want to say PCGS has graded around 20,000 MS70's already!!!!!!!!!!!!!!!!!!!! 2008 was a good year as well, as was 2006 due to the 20th anniv coins getting the 70 grade on a limited basis. NOW THIS IS MY PREDICTION..... one day 2007 will get it "day in the sun", then 2005 and so on. This may happen sooner rather than later especially if PCGS has figured out the spotting problem (they had been offering a $50,000 reward).

IMHO (and as I have suggested to my customers for quite some time), I would be very, very careful chasing "low pop" PCGS-MS70 silver eagles. One day the pop could be 50 and the next day 500, 5,000 - even 20,000!!!!!! Just my 2 cents.

Wondercoin

derryb · October 13, 2009 1:15PM

It is important to note that the "spotting" problem can occur after the coin has been graded and slabbed. This is the primary reason why TPG were reluctant to call a perfect silver eagle "perfect." The spotting was more prevelent in the years you sell less 70s.

On another note, does PCGS still have a reward for curing the spotting problem?

Question (for Wondercoin, or anyone) about PCGS MS-70 Silver Eagles (non-W Uncs)

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