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 Replies: 10 / Views: 2,014 |
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New Member
United States
4 Posts |
Hi all, I recently purchased a PCGS slabbed coin (on ebay). It's a 2001 American silver dollar, and was graded MS69. It is legitimate, as I checked the serial # for authenticity. My issue is one of grading. The coin has some rather obvious spots on the reverse side. Appears to be some kind of corrosion that has etched the surface. When I questioned the seller, he says that's the way he got it when purchased from Heritage Auction Galleries, before placing it in his safe deposit box. Is it possible that because of it's history, it could be issued this high grading, in spite of it's obvious imperfections ? The other side of the coin appears to be virtually flawless. I'm wondering if what I am seeing could be damage to the plastic ? The seller contended just that at one point. But, then he said that it probably received the grading even with the damage because it was a WTC recovery. Not sure what to do about this, as even sending it back to PCGS for re-grading would mean cracking the slab, and losing the valuable american flag part of the slab, certifying it's origin. I'll try to post a pic.. TIA for your thoughts.  |
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Bedrock of the Community
United States
12437 Posts |
 Your Silver American Eagle is afflicted by a common problem known as "milk spots". The spots are caused by residual planchet rinse residue from the Mint and they develop over time, chances are that the spots were not visible when the coin was slabbed. Unfortunately, the spots cannot be removed without damaging the coin in the process with an aggressive acid/thiourea dip. |
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New Member
 United States
4 Posts |
Thanks for the reply. Well, I suppose I probably overpaid for the item then. I just spoke with a rep from PCGS about it. She suggested that if I wanted to send it to them, they would examine it and if it doesn't currently meet the grading they originally issued, they would refund the difference to me between the old and new grading. Sheeesh, I hope every coin purchase I make isn't this mired in controversy. lol
What a stoopid I am. ;-)
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Rest in Peace
United States
4078 Posts |
Quote:
an aggressive acid/thiourea dip. Biokemist6, do I dare ask what this is? Or will it start an onslaught of cleaning questions? I have seen "milk spots" on many coins especially on rolls of ATB uncirculated from the mint and Zincoln cents. I guess this is the way we get them like it or not. Sad. |
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Pillar of the Community
1283 Posts |
What did you pay if you don't mind me asking? Don't worry about the milk spots they will barely affect the value of this particular coin. WTC ASE's are very cool in a really morbid way. Your coin has been selling for around $200 on ebay, after fees and all the BS you could probably recop $160. Nice coin and welcome to the forum |
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New Member
United States
4 Posts |
Thanks Throwback. What are you psychic, lol ? I paid exactly $160 for it. Was thinking I got a good buy too, until I saw all the spots.
I've been told by someone else that this milk spotting would render the high grading worthless ? So not sure what to think at this point. In the meantime, the seller has agreed to refund my money if I return the coin. After hearing what you had to say though, maybe I should just hang onto it ?
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Pillar of the Community
1283 Posts |
Yeah it would cost you about $200 to buy the same coin on ebay. I really like the WTC coins and own a few myself. I say keep it, they are great pieces of history IMO. |
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New Member
United States
4 Posts |
Hmmm... so if I were to have it graded again, do you think it would even approach MS69 ?
I was just thinking I could probably buy an almost perfect example for the $200 you mentioned, instead of one like mine.
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Bedrock of the Community
United States
12437 Posts |
I would not worry about the grade in the case of this coin, all of the value is in the provenance of the coin which is guaranteed by the slab. Without that slab, it is just another ~$35 SAE. Quote:
Biokemist6, do I dare ask what this is? Perfectly legitimate question  Commercial coin dips are composed of sulfuric acid and thiourea. It is a very harsh mixture and that is why most consider dipping coins to be a bad thing, the dip actually strips metal off the surface of the coin(which is also why it readily removes toning). In the right hands, it can improve the eye appeal of a coin but the key is to use a dilute solution and dip for 2-3 seconds max. Any longer than that or with a full strength solution and you risk destroying the luster on an MS coin  There is a very fine line between helping and ruining a coin by dipping it and many more coins have been ruined than helped. |
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Moderator
 United States
23522 Posts |
To add to biokemist's accurate explanation: you would have to way overdo it to remove those milk spots. Chances are, it would strip the coin completely of luster and ruin it for all time to come.
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Bedrock of the Community
United States
17884 Posts |
Quote:
Hmmm... so if I were to have it graded again, do you think it would even approach MS69 ? With the spots almost certainly not, and you would most likely lose the WTC provenance as well. The reason it received the original high grade was most likely the milk spots had not developed before it was slabbed. For some reason the slabbing seems to speed up the spots becoming visible. Edited by Conder101
10/14/2011 11:24 am
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Replies: 10 / Views: 2,014 |
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Posted 10/13/2011 6:55 pm
