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 Replies: 9 / Views: 3,002 |
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New Member
United States
6 Posts |
Hello everyone! I'm new to coin collecting, so bear with me if this if obvious. A couple months ago I purchased a few coins from an auction at a good price. A couple of the coins I got were graded PR70, but appear to have problems:   The first coin appears dark around the edges, almost like there's something on the coin. Is this normal? I see Morgans that sell for more with "toning", but is this just normal toning? If so, is it still a PR70 coin? It doesn't show up in all lighting, it was actually a bit hard to get a picture of because a lot of the pictures didn't really show it. The second one has some dark spots on it. Two bigger ones are above the crown and to the upper left of the dollar sign. There are about three or smaller ones near the big ones that are harder to see. I don't see any evidence of tampering with the slabs. I hear slabs don't perfectly protect the coin, but one of them was only minted last year. PCGS seems pretty strict about grading 70s, so I don't know what to think about these. I would send them in for the guarantee, but I don't want them to tell me that either it's still 70 or that it's an "obvious clerical error" and not covered. I'd be out as much money as the coins are worth just for sending them in. In any case, I'm sure you guys know a lot more about it than I do. What do you all think? |
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Valued Member
United States
451 Posts |
You're definitely not the first to question a 'perfect' 70 grade. I would think the 78-s clad quarter was exposed to humidity or heat or both either before or after grading in order to develop that level of oxidation. On the JFK $1- I imagine the submitter, grader or finalizers either sneezed on that coin or spat when they talked about it before sealing it.  I listed a couple of PCGS 'MS-70' silver pandas on ebay some time back with very clear pictures and noted in the description that fingerprint oxidation had developed on the coins and that I did not regard these coins as the new ultimate modern 70 grade. They still sold for $40 each more than they were worth (IMO). I hope you didn't break the bank on the coins since it doesn't sound like you're happy with them. And welcome to CCF.  |
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Bedrock of the Community
United States
10982 Posts |
Quote:
I would send them in for the guarantee, but I don't want them to tell me that either it's still 70 or that it's an "obvious clerical error" and not covered. I'd be out as much money as the coins are worth just for sending them in. In any case, I'm sure you guys know a lot more about it than I do. What do you all think? I'd consider the grade guarantee re-submittal also. Remember there are worth about $50/each as 70s and $10 or so as 69s so there is not a lot to gain. It is clear these are not "obvious clerical errors" or 70s so the likely outcome is PCGS offering to buy them for ~$100 or them re-slabbing them as 69s and refunding you ~$80. It should only cost a few bucks to ship them to PCGS. Good luck and avoid the "70" game if you can. |
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New Member
 United States
6 Posts |
Thank you both of you for the quick responses :) Yeah, I got a decent deal for them, didn't spend too much. I haven't decided if I want to send them in or not. They say in their guarantee they don't cover: "Coins exhibiting environmental deterioration. The PCGS Guarantee does not apply to coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion." Between spotting and changes in color, it doesn't sound like they would cover it, which leaves me a bit disappointed. It seems like they'd only cover scratches and wear they didn't notice. I still might try and resell them, someone may not mind the spots. It does make me question if I want to continue buying PCGS graded coins though - I know you should "buy the coin not the slab", but there's clearly a premium on slabbed coins. My first transaction buying unslabbed foreign coins on ebay ended up with them being counterfeit. Maybe I should just try a more reputable website and expect not to find any real good deals. And as for the "70" game, I usually do avoid it unless it's a really good deal (I could turn a profit after selling fees and shipping) or there's some sentimental reason I want that particular coin. I got a PR70 quarter for my birth year and it's beautiful. In any case, thanks again guys :) If anyone else has any experience that might help me decide whether or not I should submit for regrading, please let me know. |
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Bedrock of the Community
United States
17884 Posts |
Since their guarantee doesn't cover coins that "turn" or go bad after they are slabed, and there is not way to show that they didn't look like that before they were slabbed, I would think the grade guarantee would not apply and you are out of luck. On the other hand you could probably sell them to someone that just believes in labels.
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Valued Member
United States
231 Posts |
I buy slabbed coins and raw coins. What I've learned is when sellers have multiples of a coin to sell, slabbed or not, you never know what the eye appeal will be. I prefer buying coins where you are seeing a picture of the actual coin you will receive. That way, the chances you will be disappointed are much smaller, even if it sometimes means paying more than you would buying from a large seller with a cheaper price who has many coins of a certain grade available.
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Rest in Peace
United States
2668 Posts |
It would be cool to see a bar made with labels from cracked out coins.  ETA:  Edited by Parklane64
07/20/2016 02:22 am
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Pillar of the Community
Canada
3733 Posts |
toning and or spots does not affect the numerical grade.
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Bedrock of the Community
United States
17884 Posts |
Spots will on a 70 graded coin. Toning might or might not.
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Bedrock of the Community
United States
10982 Posts |
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toning and or spots does not affect the numerical grade. The numerical grade is the only grade there is. And of course toning and spots affect a 70 grade. A coin can't be "as struck" if it has developed toning and spots. The grade must be lowered to 69 at most and perhaps lower. |
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Replies: 9 / Views: 3,002 |
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Posted 07/11/2016 11:44 pm
