Just bought this coin on YABE: Got it for $30, but pic shows some heavy spotting. Was told back side is trouble free. I am new to coins... Is this toning? Should I crack open case and clean? Did I pay too much? Will the spots get worse with time? Any info would be appreciated. Thank you, Jase.
What ever you do (DON'T CLEAN THE COIN)! The value will drop a lot. Now about the spoting and toning. I don't see any toning but I do see two white spots.I have no idea what they are and how they got there but if you could get a better pic we could maybe help you.
Should be getting it in a few days, I will post a better pic, but at the moment, this is all I have. Would you have paid $30 for it? I wouldn't think PCGS would grade it MS69 if the spots were something other than toning, but what do I know? Still learning... Thanks again.
These coins are notorious for developing spots like yours called "milk spots" although your seems to be worse than most that I've seen. Those spots limit the grade to less than what is on the label, so it turned after it was slabbed. Once you get it you should contact PCGS to take advantage of their grade guarantee program. They will reslab the coin at it's proper current grade (for no charge) and compensate you for it's decrease in value (whatever that means, since they get to determine what the "fair market value" of a PCGS 69 is) after being regraded. Now, for your other question, I think you overpaid, but I also can't fathom spending twice a bullion coin's value for the MS69 grade, especially on a coin that is so common in such a grade, but that's me. IMO, it's worth about $15 ($13 for the silver and $2 for the dealer's profit margin).
