So I bought 10 Sunshine Mint rounds from JM bullion awhile back. Then I just bought 10 more of these rounds from Provident Metals. Both batches have what appear to be milk spots. Anyone else have this problem. Will this affect a dealer buy back?
No, this is new to me. I have never heard of those milk spotting before. However, most coin shops just don't care. It seems to be only newer generations of bullion collectors/investors who care. I think you should have no trouble selling them to a local coin shop. However, you'll lose your premium. But hopefully you paid a premium no higher than 75 cents each, and hopefully you'll sell them back when silver is several dollars higher anyway.
I paid spot for the JM Bullion Batch. That was their one time 10ounce special that they always run. Paid $.69 over spot for the Provident ones. I am tempted to bust out the acetone and give them a bath to see if maybe they aren't milk spots and maybe something else.
If you were going to try anything try MS 70 if you don't want to dip them. Worst case scenario you have exactly what you started with and it did nothing.
I don't want to go through hassle of dipping in Ezest or buying MS70. Acetone is cheap and may work if it's just goo.
No. Its a generic round. Its value is based on its metal content, not cosmetic appearance. Unless you have one of the few rounds that people actively collect, stop worrying about condition.
True, might incur a small penalty just because shiny bullion is easier to sell but overall all shouldn't be any sort of game changer
7 of the rounds in that tube of 20 have the spots. I'm recalling when I have sold Rounds to dealers and all they do is check the count not the rounds themselves. I'll just sell that tube when silver gets high just in case.
So if you all are saying 'milk spots' won't make a difference on 'sell back' doesn't it make a difference of having 'milk spots' on coins such as Morgans ?
milk spots ... pure bullion/spot price (rounds) vs numismatic valuation (Morgans, Peace Dollars, etc) which is PM Plus numismatic.
It's very simple, you cannot and will not buy Morgans and Peace dollars for spot unless they are absolute common date beat up trash and even then probably not. They aren't bullion therefore quality matters
A Round or Bar is just a blob of silver. To most, it doesn't matter if it's in pristine condition or scratched up it's all worth the same. A Morgan (or any other coin such as the Peace Dollar) is not only Silver but was Currency at one time. One's that are massively worn are still worth more than spot. It has a value *above* that of a basic blob of silver. Thus the total quality of that coin is more based on Collector value with a minimum (of very badly damaged coins) of the silver value. For instance a 1921 Peace Dollar has a different design than the later Peace Dollars. It has a "High Relief" design. For instance read about half way down the "David hall" comments ==> http://www.pcgscoinfacts.com/Coin/Detail/7356 note: I really don't know Morgans other then "CC" (aka Carson City) ones have some tremendous Collectors value.
Yeah, I started this thread because I know some Bullion dealers like to display a whole tube of pretty Rounds all spread out in a case. Was just worried about those guys.
But what about a coin where, even when keeping them in a clean, dry environment, the milk spots show up later ?
I think if your looking at bullion itself condition really doesnt matter a great deal just traded in a 4 oz bar for rounds but bar had allot of tonning but didnt really matter as i still got spot
That happens with more modern coins. It's an issue from how the mint washed/dried them is the general consensus last I saw. Peace/Morgans I would be very confident that won't happen at this point if it hasn't already
