Grading Question: Peace Dollar MS65 with Milk Spots

I saw this gorgeous 1923 Peace dollar graded MS65 in an NGC slab on eBay and I searched for an answer as to how or if the milk spots on the obverse affect the grade. This appears to have been dipped improperly, but not in a way that significantly detracts from its aesthetic appeal. It's pleasing to the eye. I wonder if the milk spots have worsened over time, given that it's an older holder, or if the spots were likely just ignored by the grader at NGC. So my question is: do milk spots affect the grade of Peace dollars, or other non-bullion coins?

 

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Milk spots can impact the grade (make it lower). The example you found I would guess was dipped improperly and the spots developed after the coin was slabbed. I don't think it would have received the MS 65 grade with those spots.

 

Your response makes sense and may explain why the coin seems a bit discounted. So the warning about dipped coins showing defects years later has merit, but this is an issue that by no means affects all of even most dipped coins (since most silver dollars have likely been dipped). I suppose this might tilt savvy buyers who like blast white coins toward older holders to ensure no spotting has occurred after a "test" period. It's possible, if the milk spots may appear years later, that a brand new holder has not aged enough to determine the true grade of a coin.