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Current opinion on grading/slabbing?



 
 
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  #31  
Old April 9th 13, 06:25 PM posted to rec.collecting.coins
oly
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Posts: 3,111
Default Current opinion on grading/slabbing?

On Apr 9, 12:15*pm, Trevor wrote:
I have a silver Eagle that literally turned black. What is that called?
I'm guessing it's not a "spot."

- Trevor

On 4/9/2013 1:37 AM, Frank Provasek wrote:



Is a "70" really worth 3 to 20 times as much as a "69"? *Since a "70"
is either "perfect" or "as struck" or "no visible flaws under 5x
magnification" *-- I think a hand-selected "69" or original raw coin
is a much better value. And PCGS is CHANGING their guarantee on modern
silver coins...When an MS70 2002 Silver Eagle, for example, that was
graded MS70 and supposedly worth $2000 develops spots or haze after
grading, PCGS would regrade it -- perhaps MS68 *-- and pay the owner
the difference in value ...$1970 -- as MS68 is listed at $30.
Obviously these are ticking time bombs, as PCGS has graded $27 billion
worth of coins, but they *have no insurance, no segregated reserve
funds -- they simply pay losses out of current cash *flow. and their
parent company's $99 million market capitalization *could quicky
vanish with an extended run of claims.


So let's see how "70s" *will hold their value when PCGS quits
downgrading spotted coins -- *and will let the "market" decide how to
value "perfect 70s" *"spotted 70s" and "tried to clean it but it
didn't work, so we are putting it back in a 70 slab"


PCGS Modern Silver Coin Spot Policy


When initially grading modern silver issues, PCGS will deduct for
spots that are already evident. If coins spot after they are graded by
PCGS, they are not covered by the terms of the PCGS grading guarantee.
If you would like us to try to remove spots from your coins by
"dipping" them, we may be able to do that. It is our experience that
spots on proof Silver Eagles can be removed in about 80% of the cases,
but spots on Mint State Silver Eagles will only come off approximately
10% to 25% of the time. We launched a Restoration Service on January
2, 2013 and for a fee (grading fee plus 4% of the value) we will
remove spots, unattractive toning and other imperfections. However,
this fee would be excessive for most modern silver issues so as a
service to our customers, we will have a spot removal service for
modern silver coins available beginning April 1, 2013. We are only
charging a flat fee of $5 for spot removal on modern silver coins.
Note that we cannot guarantee whether our spot removal attempt will be
successful. If the spots do not come out, we will still reholder you
coin in its original grade. It will just be a spotted coin of that
grade. We anticipate that a two tier market (spot-free and spotted)
will develop, much as it has in the past 10 years or so in the U.S.
generic gold market. For further information about our spot removal
service, contact PCGS Customer Service after April 1, 2013.- Hide quoted text -


- Show quoted text -


In U.S. bank notes, a "Black Eagle" is a good thing. Oh well...

Is your silver eagle in some kind of holder that has a cardboard
insert holding it in place??? That can cause your discloration
problem. But there could be other reasons too.

Silver is simply very reactive sometimes...

oly
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  #32  
Old April 9th 13, 06:46 PM posted to rec.collecting.coins
Trevor
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Posts: 11
Default Current opinion on grading/slabbing?

On 4/9/2013 11:25 AM, oly wrote:

I have a silver Eagle that literally turned black. What is that called?
I'm guessing it's not a "spot."


In U.S. bank notes, a "Black Eagle" is a good thing. Oh well...

Is your silver eagle in some kind of holder that has a cardboard
insert holding it in place??? That can cause your discloration
problem. But there could be other reasons too.

Silver is simply very reactive sometimes...

oly


It was just in the vinyl(?) holder that I bought it in, from a reputable
local dealer.
  #33  
Old April 9th 13, 07:31 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Current opinion on grading/slabbing?

On Apr 9, 12:46*pm, Trevor wrote:
On 4/9/2013 11:25 AM, oly wrote:

I have a silver Eagle that literally turned black. What is that called?
I'm guessing it's not a "spot."

In U.S. bank notes, a "Black Eagle" is a good thing. *Oh well...


Is your silver eagle in some kind of holder that has a cardboard
insert holding it in place??? *That can cause your discloration
problem. *But there could be other reasons too.


Silver is simply very reactive sometimes...


oly


It was just in the vinyl(?) holder that I bought it in, from a reputable
local dealer.


The subject of vinyl coin holders is long and complicated, but if it
is a "soft" pliable vinyl/plastic holder, most knowledgeable coin
people would NOT use it for long-term storage. The chemicals which
make the holder "soft" can have a very damaging effect on the coins.
Usually the residue left on the coins is greenish and sticky, not
black.

Rigid or semi-rigid plastic holders (like "Safeflips", made of
Polyethylene Terephthalate) are hated by many people, but they are the
route to go for long term storage. Or Air-tites or Capital Plastic's
holders.

Soemtimes you can get away with using the "soft" pliable holders (I
just this morning reholdered a beautiful roll of 1883-O Dollars that
had been individually stored in soft vinyl "flips" for over twenty
years/ close to thirty years and the prior collector got darned
lucky), but I checked each coin very carefully before I put them into
"Air-tites".

This is a long and involved topic, but "soft" coin holders are
generally dangerous or chancey for long-term storage. I would use a
cardboard 2X2 holder with staples before I used a soft holder.

oly
  #34  
Old April 9th 13, 10:17 PM posted to rec.collecting.coins
Ruben[_2_]
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Posts: 27
Default Current opinion on grading/slabbing?

On Tue, 09 Apr 2013 11:15:44 -0600, Trevor wrote:

I have a silver Eagle that literally turned black. What is that called?
I'm guessing it's not a "spot."


Chocolate Dollars




--
The Coin Collectors Hangout: http://www/coinhangout.com/home
  #35  
Old April 10th 13, 12:53 AM posted to rec.collecting.coins
Lord Hawhaw
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Posts: 20
Default Current opinion on grading/slabbing?



"Ruben" wrote in message news
Chocolate Dollars


That's what Frank calls the Morgans he sticks up his ass!

 




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