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 Replies: 16 / Views: 3,161 |
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New Member
United States
39 Posts |
Good afternoon everyone, I just purchased off of ebay a 1986 PR69 American Eagle Silver dollar for a reasonable price (the premium was not very high). It is certified by PCGS but has "spots" on it. They do not look that bad but I'm wondering how that will affect the resale value of the coin? I'm very green to collecting and this is probably my 5th coin purchased so bear with me please. Any and all info is much appreciated! Thanks |
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Pillar of the Community
United States
1511 Posts |
 Could you post a pic? Do you mean black spots or milky spots? It sounds like milk spots to me, quite common in silver coins, especially proofs. It's actually a chemical on the planchet that's not rinsed properly prior to striking.. Sometimes they come out and show, sometimes they don't. It's also possible that the spots developed after slabbing by PCGS, sometimes it takes a while for them to show. Yes, they will definitely affect retail value. I believe the top 3 grading services now offer "coin restoration" and can take milk spots off of BU coins but it states that they probably cannot get them off a proof.. So that's not an option.. But a pic would definitely help... So we know what type of spotting your referring to.. |
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Pillar of the Community
United States
7187 Posts |
To me eye appeal is the main factor when I purchase a coin. Do the "spots" really jump out at you when you view the coin? If so it will do the same for others. Also most all proof ASE's are of high grade so the PR 69 slab does not really score great resale value alone unless it was a PR 70. Got a photo of it? Mine are all raw and none of the set have any "milky" spots but many of my commemorative dollars do. Edited by muddler
09/10/2013 12:20 pm
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New Member
 United States
39 Posts |
Thanks for the responses guys. I'm extremely new to the site- about an hour- and am working my way around. I do not have the coin in hand yet it is in transit. However, when I viewed the pics, and I know that pics aren't easy to see rhings on, the spots seemed milky white in color and not very big.
In regards to a PR69- is this a bad purchase? Should I only be looking for PR70's? You should probably know I'm in this game for the collecting aspect and the historicity of the items. I'm not looking to resell them more looking to pass them on to my daughters at some point in there life as they're young yet. Of course I also consider them a good investment but thats not mainly why I started collecting. If the price was right and I needed money I would sell but am not looking to do that really.
Thanks again for the advice- much appreciated!
Regards,
AG
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Pillar of the Community
United States
7187 Posts |
Personally I cannot tell the difference from a 69 to a 70 coin, it's all a hype for the slabbing company's in my opinion. In just starting out don't be too hasty in your purchases. Learn about the coins you want to add, examine many and choose the ones that fit your criteria (and budget).
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New Member
United States
39 Posts |
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Valued Member
United States
108 Posts |
Hullo and welcome to the CC forum!
This site is pretty great li'l corner of the interwebz; lots of very tenured numismatists here who do mroe than just put up with us whippersnappers asking all sorts of questions. They give off a real nice avuncular vibe and gladly share knowledge. Stay a while, learn lots (read read read), and post often!
For continuity's sake be sure to loop back on this thread when you get the PR69 in hand, I would dig some bueno pix.
Gracias in advance,
Jay
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New Member
United States
39 Posts |
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Pillar of the Community
United States
927 Posts |
I find it hard to believe that any proof 69 coin would have any spots on it. Perhaps it was the pictures or something on the slab itself and not on the coin. We will wait for pictures.
As far as whether to buy proof 69 or 70 coins, you will find many different opinions in this forum. I will give you mine now. I personally don't think it is worth paying a premium for a slabbed modern coin (i.e. proof or unc 70 grade). The premiums for these coins are significant and most people (myself included) cannot tell the difference between a 69 and a 70 grade. That being said, there are others who will pay the premium for the 70 grade, and there will always be someone who will pay this premium. However, if you want to acquire more coins of this type, then go with the 69 grade (or ungraded coins as well). Especially since you said you don't intend to sell them any time soon.
I personally buy coins for eye appeal, especially modern issues. I am perfectly happy with a 69 or unslabbed coin any day. Good luck with your collection!
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Pillar of the Community
United States
4901 Posts |
Quote:
I find it hard to believe that any proof 69 coin would have any spots on it. Perhaps it was the pictures or something on the slab itself and not on the coin. I have had MANY ASE's both proof, reverse proof and MS, both 69 and 70 develop milk spots after being graded and put in slabs. NGC and PCGS used to have a grade guarantee for the 70's and would replace or buyback those coins that spotted. I had probably 10 replaced by NGC before they discontinued the practice. That is no longer the case. The milk spots are not removable. Re: price decrease...I have sold quite a few on ebay (listed, imaged and described appropriately) and have received decent but decreased prices. Here is a 2006 Reverse Proof with many milk spots..coin angled and color balance skewed to show the spots which do not image easily. They are NOT on the slab...they are part of the coin surface...  |
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New Member
United States
39 Posts |
Thanks for your responses perfessor and foxwoods.
Perfessor- luckily I have been able to negotiate wholesale prices for all of the coins that I've gotten so far with little to no premium- do not know if this is the norm or not but I guess only time will tell!
Foxwoods- the coin that I have ordered from the pics at least show very few milk spots- maybe three I was able to pic out in total
. Pics will come soon.
Thanks for all who provided advice and guidance....
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New Member
United States
39 Posts |
Ok everyone who responded so I have the coin in hand. There is one spot that is under the A in America on the reverse side. It is so tiny I would need calipers to measure it. Look at the tiniest spot in Foxwoods picture and it is no bigger than that and I'm looking under a 10x jewelers loupe. I will post pics when I get a nice enough setup- my cell pics stink- but all in all I'm extremely happy with this piece!
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Valued Member
United States
149 Posts |
Quote:
I find it hard to believe that any proof 69 coin would have any spots on it. Perhaps it was the pictures or something on the slab itself and not on the coin. It is very common for Silver Eagles to develop spots regardless of grade. Spots can and do happen even on PR70 Eagles. When using an online auction, you need to examine the photos carefully to detect spots and ask the seller before buying. |
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Pillar of the Community
United States
4901 Posts |
Just beware....milk spots are like weeds...when you see one, more are on the way
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New Member
United States
39 Posts |
I did not know that- thanks for the heads up. Now my coins are slabbed and stored in a cigar box for now- is that an ok place to store them?
Many thanks!
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Pillar of the Community
United States
3210 Posts |
Considering you got a PR69 1986 ASE sounds like you got a good deal. I would love to see some pictures. |
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Replies: 16 / Views: 3,161 |
Posted 09/10/2013 12:15 pm
