Grading of a Silver Eagle
stevkc
Posts: 175 ✭✭
So I acquired some coins from a flea market recently and one is a 2010 ASE, graded MS69 by PCGS. Got it home and noticed it has several spots on it. Not whitish 'milkspots,' but 4-5 dark-colored spots tucked next to the shoe, hands and other features. It is kind of weird because they are not very noticeable when looking straight-on, but very noticeable at certain angles. Returning to the seller is not really an option, so I checked into the PCGS buyback.
Seems like it could be kind of a long, drawn-out hassle, but I'm still inclined to do it. I know that toned and tarnished coins can still receive a high grade, but what about spots, which tend to be unattractive by any standard? Is it possible that the coin could have received the MS69 even with the spots? Or is it safe to assume the spots appeared later (although the coin is only a 2010) and PCGS would likely buy the coin from me? For $40-$50, I could buy another one.
I don't see any signs of tampering with the the slab, so let's assume the coin and slab are legit.
Seems like it could be kind of a long, drawn-out hassle, but I'm still inclined to do it. I know that toned and tarnished coins can still receive a high grade, but what about spots, which tend to be unattractive by any standard? Is it possible that the coin could have received the MS69 even with the spots? Or is it safe to assume the spots appeared later (although the coin is only a 2010) and PCGS would likely buy the coin from me? For $40-$50, I could buy another one.
I don't see any signs of tampering with the the slab, so let's assume the coin and slab are legit.
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I guess I figured that a "clean" coin has got to have some value over one with spots, and one in an MS69 PCGS slab has got to have some value over one not in a slab. PCGS price guide lists an MS69 for $51 last I checked. If they buy it from me for $45-50, seems like more than I could get on ebay or elsewhere for a spotted ASE.
<< <i>not really any premium on ms69 eagles vs melt value, so why would you want to send it back???? >>
<< <i>It is true that I paid about melt for it, but I was buying from a non-coin dealer flea market seller with just some odds and ends.
I guess I figured that a "clean" coin has got to have some value over one with spots, and one in an MS69 PCGS slab has got to have some value over one not in a slab. PCGS price guide lists an MS69 for $51 last I checked. If they buy it from me for $45-50, seems like more than I could get on ebay or elsewhere for a spotted ASE. >>
If there is one lesson I've learned it is to NEVER assume your coin is worth the PCGS Price Guide.
<< <i>............... and one in an MS69 PCGS slab has got to have some value over one not in a slab. >>
Not always true with Silver Eagles friend.
Some folks prefer to get their own grades with the possibility of a 70 over a pregraded coin.
Some good strong advice would be to just let it go otherwise you'll end up paying way more for your Silver Eagle than its actually worth.
The name is LEE!
I guess I figured that a "clean" coin has got to have some value over one with spots, and one in an MS69 PCGS slab has got to have some value over one not in a slab. PCGS price guide lists an MS69 for $51 last I checked. If they buy it from me for $45-50, seems like more than I could get on ebay or elsewhere for a spotted ASE.
I think you're trying to put too fine a point on a spread of a couple of dollars-- dollars that depend not so much on the quality of this particular coin but where and how it's sold
Liberty: Parent of Science & Industry
you might as well get it all out now, we all crawled before we could walk
<< <i>
<< <i>............... and one in an MS69 PCGS slab has got to have some value over one not in a slab. >>
Not always true with Silver Eagles friend.
Some folks prefer to get their own grades with the possibility of a 70 over a pregraded coin.
Some good strong advice would be to just let it go otherwise you'll end up paying way more for your Silver Eagle than its actually worth. >>
I understand, except that with the spots, no one is going to think a 70 is a possiblity.
As for paying more than it is worth--what would be the costs to me to send it back to PCGS for a buyback?
if it's learning, fun, and experience you want, you're on the right track posting here. How about a picture of the coin for us to look at?
Liberty: Parent of Science & Industry
<< <i>what did you pay for it?
you might as well get it all out now, we all crawled before we could walk >>
I only paid $30 for it, which I thought was a "great" deal. With the spots, it is probably still a "good" deal. I guess I (and I assume a potential future buyer) would just rather have a nice clean coin instead of one with dark spots on it.
What is the downside of using PCGS buyback? It wouldn't cost me anything would it?
<< <i>
<< <i>
<< <i>............... and one in an MS69 PCGS slab has got to have some value over one not in a slab. >>
Not always true with Silver Eagles friend.
Some folks prefer to get their own grades with the possibility of a 70 over a pregraded coin.
Some good strong advice would be to just let it go otherwise you'll end up paying way more for your Silver Eagle than its actually worth. >>
I understand, except that with the spots, no one is going to think a 70 is a possiblity.
As for paying more than it is worth--what would be the costs to me to send it back to PCGS for a buyback? >>
Provided they agreed to buy it back, you might get $5 and the coin back in an MS68 holder. You'd be out your initial shipping and packaging costs though as well as waiting possibly 3 weeks for a specific determination. To be perfectly honest, I don't really think that "4-5 dark-colored spots tucked next to the shoe" which can only be seen at "certain angles" is enough to constitute a downgrade. Especially if they are not noticable "when looking straight on". Silver Eagles are more than likely not "Loupe" graded but simply scanned for obvious hits and distracting marks. No obvious marks will get an MS69 everytime.
IMO, its just not worth it.
What a lot of folks don't seem to understand is that PCGS Slabs are not totally sealed and air can flow in and out of the slab. Additionally, even small contaminents on a 99.999% Pure Silver coin may not be visible when it is slabbed but may cause toning spots to appear after a short period of time after its been slabbed. This is one reason that certain copper coins are not guaranteed on their color attributes (RD/RB). They can and often do change in the slab. Silver Eagles are no different as they sometimes do change in the slab.
The name is LEE!
<< <i>
<< <i>what did you pay for it?
you might as well get it all out now, we all crawled before we could walk >>
I only paid $30 for it, which I thought was a "great" deal. With the spots, it is probably still a "good" deal. I guess I (and I assume a potential future buyer) would just rather have a nice clean coin instead of one with dark spots on it.
What is the downside of using PCGS buyback? It wouldn't cost me anything would it? >>
that was a great price! i just don't think with the time and effort you'd get any more value out of it. (IMHO) you'd pay shipping both ways
i'd buy spotted ASE's for ~$3-5 back of melt all day long and never look back
It might just be toning. You got a great price on it!