What is going on with this saint?

I won this Saint at the Boston Heritage auction. What is this "crud" on the coin? When viewed head on it completely disappears. When viewed at an angle this stuff is covers a good deal of the coin.

 

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if you look close, it looks like the eagle has a joint in his mouth.. the "crud" is just smoke from that J.. Did Cheech or Chong own that before you?

 

Ha ha, yeah. I reckon the eagle is flying high.

 

I think it's PVC damage? Not sure though.

 

PVC would also be my guess

 

I"m curious, you stated you won the coin on the Heritage Auction site. How was the coin described ? Any mention of the " Damage " ? Unless it was noted, you should qualify for a return through Heritage. Quickly!!

 

I'm thinking the coin was puttied to hide marks and the putty has oxidized and is now visible. This is why PCGS is nvolved n the lawsuit against the coin doctors. They caught some of the puttied coins in the past but not all of them. Now that the putty has been becomming visible PCGS has been on the hook for buying them under their grade guarantee.

 

That appears to be putty -- I have a puttied coin with a very similar appearance. I would try and return the coin or send it to PCGS for grade/appearance review....Mike

 

It doesn't look like that when fresh. In the example I have (in an OGH) the putty was invisible when I purchased it, and it covers more of the coin than this example. Over time, the putty became visible just like the OP describes -- under low-angle light. That was the giveaway to me versus PVC, as PVC is visible at any angle in my experience.

That said, it does seem odd that it's only on the reverse. I would expect it to have been used on the obverse (unless there was something particularly problematic on the reverse like hairlines).

 

If that was a "puttied" coin, that sure must have been one hell of a mess, and I don't think that would have escaped Heritage. All the buyer needs to do, is simply return it to heritage, and quickly I might add. Determining the nature of what happened is secondary, to receiving a refund if the coin was not stated it was improperly restored . yes/no ?

 

The coin does not appear from the photo to be in a PCGS holder. Who did you say Authenticated this coin ?

 

It would be nice if the OP didn't go on vacation after dumping this into CT.

 

I hope you're right!

All I know is that putty is only visible at an angle and it is over more than 50% of the obverse of my coin (apparently trying to hide hairlines), and it was good enough to get by PCGS, the dealer who sold it to me (who is no wannabe), and my eyes when I bought it in 2005. The putty was first noticed in 2008 when I sent it to the dealer to be submitted to CAC, and CAC also confirmed it as putty. Here is the coin:



Regardless, if I were the OP I would first seek to return it to Heritage and barring that to PCGS (the thought being Heritage should refund the entire selling price, and PCGS may not).

 

Common date $20s are not bringing much at low grade levels these days. If the coin could be run through NCS and could then get a decent MS grade the process may be cost-effective. Heritage buyers would probably offer $1250 to $1300 for such problem coins. Rarcoa and Spectrum are also active buyers.

 

While some of what you state may or may not be true, it is un-necessary to take that route. Back to the Auctioneer with the coin.

 

Sorry for the delay. The coin is in a current style PCGS 65 holder. It isn't only on the reverse, it is over much of the coin. Heritage thought enough of the coin to actually describe it - instead of their usual "... price for a problem free MS 65 is ..." It was lot number 6370.

I bought the coin for the toning, if I send to PCGS for a grade review and they admit it isn't MS65 quality - do they send me another coin or pay me their "retail" price. I don't want a Saint sight unseen.