My Yellowstone ATB 5 oz silver bullion quarter had a blemish on George Washington's cheek. I returned the coin to APMEX for an exchange and the replacement coin has the exact same blemish on the cheek and a similar blemish on the hair. (see photos). I'm guessing this is a result of the coins being packaged and shipped in tubes which permits the highest point to rub against its neighbor. It might be specific to the Yellowstone coin because of the characteristics of the reverse design. This is the only one of my 5 coins that has this blemish. Has anyone else seen this on the ATB 5 oz coins and specifically on the Yellowstone coin?
Sorry to hear that. Because of the size of these, typical blemishes that often develop over time on modern U.S. Mint silver coins (milk spots, haze, etc.) will likely be even more pronounced on the 5 ounce version than on their smaller counterparts. I am surprised that Apmex sent you a replacement with the same problem though. TC
It does not suprise me to be honest. The set I recieved even had one coin with a pretty substantial scratch on the obverse of one of the coins and I did notice several blemishes etc. There is no doubt that the AP's cherry picked the hell out of these things before sending out their first orders.
From Coin World Vol. 52, Issue 2651 [1/31/11], cover story: I'm not. APMEX hasn't sold all of their allotment, only about 600 sets, so they should have had plenty on hand and the scuffs appear to be common on these.
Spotting may not be a significant problem now but could be in the future. Many people have noted that their ASEs sometimes develop these spots or they get worse over time (perhaps due to improper storage). It will be interesting to see how the 5 ounce version fare over time. Regardless, the other issues noted (abrasions, heavy scuff marks, hairlines, etc.) will be more pronounced on a larger coin. If Apmex has plenty on hand (and we are all assuming that they do), then why would they send a replacement coin with the same problem. If I was the OP, I would call them and say send me a replacement with no blemishes. TC
Overtime most anything may work to alter the appearance of silver coins, such as eventual toning. So-called milk spots can become more pronounced which is likely because the surrounding surface area has toned. Even subtle toning that's nearly impercetible to the naked eye, overall, can make the spots more pronounced in time. The comment coming from NGC, who have seen more of these coins than any of us and are themselves scrutinizing these coins for grading and who are aware of such spotting-issues, so far are reporting this is not presenting a significant problem on the coins they had reviewed. Spotting and haze are evident to careful review, especially under magnification, because the spots are present on the surface of the coins from the outset. If they are going to be a problem, then the problem is already there from day one. Years down the road when you can see the spot with the naked eye the problem was still there all along. They don't just materialize over time after leaving the Mint. The spots are acquired at the Mint at the time of production. NGC are capable of seeing these problems when they review coins for grading. In that general statement, NGC are not claiming all of these coins are spot/haze free, because they obviously have not seen nor will they ever see all examples of these coins to make such a claim. For now they have simply downplayed this problem for us. For me, it was a relief to hear that this may not be an issue with these coins the way it isn't much of an issue with other silver products from the Mint-- outside the milk spots on bullion ASEs and haze on Proof ASE coins, for instance. Because as I quoted above, these are the major condition issues, meaning many, most or even all (as no MS70 sets have yet been graded) have similar issues. APMEX could only send the next best example they have in inventory to the OP based on the problem of the returned coin. This is done at APMEX's own discretion and comparison of the problem the OP gave for the return. APMEX clearly had at least one example from their inventory that they felt they could issue in exchange and that one was one they deemed not to have the same problem (to the same extent) as the returned coin had, but that doesn't mean they are going to send a problem free coin either. We cannot compare the two coins as the OP supplied us with only one of the coins he received from APMEX, but the chance of him getting back another with a similar problem to some degree appears to be high. He's lucky they had any whatsoever. Many of the other APs accept no returns had have built in disclaimers about condition of these bullion coins. Remember, APMEX are not a numismatic coin retailer, they are a bullion dealer and these are bullion coins. Yes, APMEX continue to sell some numismatical-graded inventory and are on the fence with numismatic issues, but it something that they seem to mainly exploit through marketing, disclaiming their operation as bullion dealers not numismatists. If anyone seeks problem free coins they'd be better served acquiring graded examples of the bullion coins, preferably reviewed in hand and prior to purchase to ensure the quality they deem suitable, or wait for the non-bullion, numismatic coins to be released from the Mint. Just as bullion dealers web sites use photographs that are representative of the products they sell, what you see is only an approximation of what you will get. If an APMEX customer is disatisfied with their order they should by all means call them and exercise their three day return right from the day you receive the item.
Any evidence to back up that assertion other than "my coin wasn't perfect and neither was the replacement"? Remember these ARE just supposed to be bullion pieces and handled as such. Not special coins made for collectors.
I presume APMEX had plenty on hand because they ordered their full allotment of 3,000 and have sold only the first 1,000 so far. They have yet to offer the remaining sets for sale. I did tell APMEX customer service that the replacement coin had exactly the same defect as the original one. They sent me an email saying "This is how they look – every single one of them." I presume they are referring only to the Yellowstone version because my other four coins do not have the spot on Washington's cheek. I'm pretty sure it's a rub mark and not a milk spot. I suspect it may be that the reverse design has an elevation at the just the right (or wrong) spot to rub on Washington's cheek when they are stacked in tubes. The others are far from perfect, though. They all contain parallel scratches that look very much like someone attempted to polish them at some point. You can see it to some degree in this picture. Based on what I've seen, I would be amazed if any of these will grade MS70. I'd like to know if anyone else has noticed that the Yellowstone versions have a particular problem with a spot in this area. Obviously, these aren't made to the same standards as numismatic coins and I suppose we'll all have to wait for the numismatic versions.
Holding a coin that was issued this way to numismatic standers is a blemish of its own. The only set I saw was for sell for 1800 and they were all dinged and scratched. This is a coin minted in 2010. I don't know if these distributors cherry picked them and then tossed the rest in to a big bag to distribute but I was taken back by the whole thing. The numismatic versions from the mint are very nice and I have a few so maybe it is all predigest. I will admit I would like to own a MS 69 DMPL version but I'm not a distributor who can cherry pick. They should have been released by the mint randomly....
