I bought a few PCGS MS70 silver eagles several years ago. When I purchased the coins they were in brilliant condition with no spots or discoloration. I pulled them out today and noticed that several of them had developed spots and discoloration. I didn't expect this to happen with MS70 coins graded by PCGS. Is this a common occurrence for slabbed silver eagles? Will PCGS do anything about this? I'm afraid I won't get what I put into them because of the discoloration.
There is not much you can do about it. It does decrease the value. Spotting is one of the first things most ASE collectors look for.
Not the same coin obviously, but similarly I noticed this tonight when taking new pics. :-( This is a 69.
Yes, it is. Coins change in the slab, that's a fact of life. Copper coins that were graded Red, turn Red Brown or even Brown. Bullion coins, modern commems, modern Proofs, even some modern business strikes, can develop spots and discoloration after they are slabbed. And some of them even have those spots or discoloration when they are slabbed. Why and how does any of this happen ? There's a couple different reasons. Improper storage is one, few collectors store their coins properly. Milk spots ? Nobody knows for sure what causes them, only that they happen. And they can show up before the coins are sold by the mint or even years later. Discoloration ? Many who submit coins for grading rinse them in products like MS70 or acetone before they submit them for grading hoping this will help get the coin graded a 70 instead of a 69, and sometimes it works. But if they don't do everything just right or change their rinse solution as they should, the coins will sometimes discolor or get spots later - after they are slabbed. And it is not just modern coins that are affected either. Things like this happen to older coins as well. The phrase used is - turn in the slab. And it's not just rinsing the coins in acetone or MS70 that does it. Improper dipping can cause it as well. It is these kind of things happening that make discriminating collectors shy away from blast white older coins and many moderns. They've been around long enough to see these things happen and are aware of it. So they only buy coins that have original surfaces, coins that have not been messed with because they know that if they store those coins properly then they will not turn in the slab and they will not be disappointed down the road. It's just another lesson that many have to learn.
I don't believe in buying graded 70's, and I don't believe that anyone should buy a 70 just because that is what it says on the slab. If you can't tell the difference between a 69 and a 70, then buy the 69 and save a bunch of money. At least then, if they should "turn" in the slab, you won't be out as much money. Chris
I have been really lucky with this issue. I feel much of my luck is because I never change from the mint holders. It seems like folks start having more problems after having them graded. It's thought the problem is in or on the surface of the coin when it came from the mint. I think the process of having the coin graded, kicks in the problem and it starts showing up more after that. I may be full of beans but I'll never be in a hurry to slab any silver still in the mint capsule.
It's a big problem. A lot of folks are going to be disappointed when they look at their expensive MS70 and PR70 coins months or years from now and find that spots have developed. One thing the TPGs could do to protect consumers would be to post a history of each slabbed coin (when it was slabbed, if it were ever submitted for restoration, etc).
Thank you for all of your feedback. I knew there were problems with the earlier year eagles and that's why they weren't grading them MS70, but at the time I didn't realize it could still happen to the later releases. It's too bad, they are really beautiful coins. I don't think it's a problem with how I stored them. They were all stored at room temperature in a lock box and only a few have this problem. I've heard this will not occur if the coins are preserved/restored by PCGS when they are submitted for grading. Can anyone confirm this? I doubt anyone does this when they submit them though because it's an additional fee. I'm not actively pursuing the MS70 eagles anymore, but was interested in them when I first got started.
No truth to that at all. PCGS even has an open reward of $25,000 (and has had for years) to the first person who can successfully show them how to remove milk spots without harming the coin. To date, no one has ever been able to do it.
Yeah, and since NGC is in Florida, the Philly mint and the West Point mint both being close to the shore as well, that must be it Of course then you'd have to explain how it happens to coins minted in Denver
Truth be told, the West Point Mint is on the banks of the Hudson, so it's more the decaying bodies in the river that are spotting the ASE's from there
Room temperature? Meaningless! They should be stored in a cool, dry climate. Lock box? Even many safes will be affected by heat and humidity. Chris
This was my post from back in 2014. Today, 9 years later, none of my Silver Eagles are showing any problems. I bought the 95-W from the mint, 28 years ago. It's never been removed from the mint packaging and still looks as nice as the day I received it. It's possible my storage methods have something to do with that. There have never been any large swings in temp. or humidity. I have had coins in slabs change over the years. Some in a good way and others in a bad way.
