Hello Super Newbie here. Yes I am trying to search the different forums. Reading lots, but cant find what Im lookin for. I am 100% new to coins, collecting, etc. What I have: I purchased 14 of 2013-S First strike Silver Eagles. pcgs ms70. 10 are in consecutive order, the others skip a few numbers inbetween. Several of the Coins [ where the left 3 Sunray lines & the L] are ? pushed over. It begins lightly on the first coin, gets heavy on 3-4 of them, then fades out again on the end coins. Its very obvious. and my question to you is, I thought a grade 70 was to be near perfect ? This is so obvious, and no other ms70 silver eagles I have, even the regular circulated ones do not have this defect? Like a grease mark ? Is it common for a ms70 coin to have any type of flaw ? Then why would they still be 70's ? I realize i need to load up a pic, but maybe someone could say "yes Ive seen minor imperfections on 70's", or no, it shouldnt be a 70 at all ? fwiw, Im really stressing over my questions making sense, so dont pick on my too hard. Vince yes Im gonna find something to take a detailed pic and post it up for review. Thanks !
I think I found it. 1 of the coins is missing part of the rim next to the ? sun ? a splinter like piece is missing. A thin line of metal that was pinched off the rim. I guess if the splintered piece could have stuck to the tool, it could have marked the following coins ?? Back to my main question ? How did these pass for a grade of 70 ? at least 5 coins are effected. should I return them, or should I keep them, since they may tell the story ?
First you have to understand the coins you bought are from a bulk program, ( first strike 100 coin min. for grading ) Then thoses coins are graded from thoses 100 as bulk, not a regular grade which is one coin at a time ! theses bulk programs are a ripe off, stay away from theses kinds of coins, very over rated ! If you cut out one of thoses coins and sent in for regular grade, it will never come back as a ms-70 !!!!!
If you own any bulk graded coins, you'll know what I'm talking about, theses programs were made for the coin dealers, to ripe people off
no i dont own any and i also think modern ms70 coins are dumb. it seems that people are paying for bulk orders with a lot of money and the graders are helping out by making some ms70 so the people who made a lot on bulk get money back when they sell it as ms70, if the mint realy wanted to in this day and age all eagles should be ms70 im trying to point out he may have a progression error which is cool
I guess he could wait to see if one of the error company would make this an error coin, but I don't think so, I think his question was should he keep them, or return them, My answer is how much did you pay for them, then decide what you want to do, but for me, send them back, and don't buy any coins that have been bulk graded
First of all, the term "First Strike" (or "Early Releases" for NGC slabs) is meaningless, and the premium you would probably pay for this designation is a waste of money. The coins that are eligible for these designations number in the hundreds of thousands. So, what is so special about the 100- or 200,000th coin struck on obviously worn dies? Enochian..........Don't fault the graders or the grading services. They have to process thousands of these coins daily, but they have no idea who is submitting them. If you want to blame anyone, blame the people who buy them because of the grade on the slab. Vince.........Your close-up of the "pinched rim" looks more like a minor die break which suggests that the die was nearing the end of its useful life. Is this imperfection raised? If so, it probably is a die break. Chris
14 dollars a coin, times 100=1,400.00 thats the least your pay to grade in a bulk program, now if you want to know about, lets say the presidential coins, that will cost you 12 dollars extra for that information, RIP OFF !!!!!!!!!!!!!!!!
WRONG! The grading services didn't come up with these schemes. It was the TV hypesters and the large institutional dealers who insisted on it. Face it! The grading services are in the business to make profits and answer to their stockholders or owners when they don't. If you were the owner of a grading service, would you turn away revenues amounting to millions of dollars? Chris
Thanks for the replies so far. This was my first time buying bulk like this. They were on sale [ $50 ] from what appears to be a large internet store with good reviews. They can be returned for a refund or exchange. I only have a cheepo 10x , but I have found SEVERAL other coins with obvious imperfections. So obvious , stands out like a sore thumb. So obvious that even my novice quick scan pick them up. VERY disappointing. Yes I realize that no metal is perfect. What sold me was the MS70, I definitely expected a tad more quality control. My regular circulated Silver eagles, ARE in better shape. Ill check around for a local collector with experience and get his/her opinion before returning. I may just keep them for conversation pieces. Any experienced dealer in the Baton Rouge area ? Vince
It seems, to me at least, that the term of "bulk grading" gets bandied about a lot. Especially for "First Strike". PCGS does not require 100 coin orders for the First Strike designation but that does not mean that some folks don't take advantage of the bulk program with regard to these modern bullion coins. PCGS First Strike link: http://www.pcgs.com/services/firststrike.html As for the MS/PR70 grades? I firmly believe that coins are not graded as MS/PR70 but those grades are "awarded" to most of the large submitters on a "percentage" basis. Yes, PCGS created the First Strike program as a method of generating revenue for both submitters and for dealers. It seems that, with few exceptions, the buyers are the one's getting stuck holding the bag. For this reason, I stopped seeking MS/PR70 Modern Bullion coins as they are, for the most part, money losing purchases. As for the OP, if you don't agree with the grade, send them back for replacements. And why ever did you purchase 14 of them? Don't you realize that your return on investment is almost non-existent for these coins? The ONLY folks that actually make money on these are the original submitters who then turn around and flip the coins. That's the way that this particular game is played. I have many PR70 coins which simply will NOT sell for the money I originally paid for them. Those coins are my reminder to NOT play the MS/PR70 game as I just cannot afford to do so.
you didn't finish the rest of the form 100 coin min. http://www.pcgs.com/services/bulksubmissions.html
