Error on 2006 Reverse Proof American Silver Eagle. Please Advise!!!

[ajcphoto-migration]

To whom it may concern:

 

I have in my posetion a 2006 20th Anniversery Reverse Proof Silver Eagle with an error that I have never before seen. This coin has a die crack through the date. I have spent teh past 5 months trying to find another coin like this one but I haven't had any luck. Please let me know what I should do. I would like to send it out to be graded but i am worried that since the error has not been published yet that, the error would not be acknowledged. NGC experts Please Advise me.

 

 

Thanks in advance for your response.

[djdilliodon]

I would send it in and just mark it on the form. If it is indeed a die crack they will attribute it. If by chance it turns out not to be a die crack it wont cost much anyway.

[physics-fan3.14]

Normally, a die crack is essentially a nonissue, unless you are talking about attributing die varieties of older coins. If you send this one in, they will not attribute it on the holder beyond maybe saying "die crack", and even that probably won't happen. Die cracks generally are not special, and do not garner any premium. Because it is a reverse proof, it might get a little bit, but not a lot.

[Conder101]

You also run the risk of LOWERING its value because a great many people who collect proof coins only want perfect pieces and if the holder says die crack they won't want it. So that just reduces the number of potential customers. I would think the number of collectors who would pay a premium for a proof coin with a simple die crack would be small. For example I do find die cracks on proofs mildly interesting because proofs are in theory perfect and should not have die cracks. But I would only pay at most a couple dollars premium for one. And I wouldn't pay any premium for a slab. And finally I think the reverse proofs are exceptionally ugly coins so I wouldn't pay much for one anyway. Maybe $25. (Yes I'm sure the market value is higher, so sell it to the market.)

[CHABSENTIA]

I sent my 2006 Reverse Proof grading and it came back as a PF70. My 2006 Anniversary Proof came back as a PF69.If there was a die ceack in the Reverse Proof nothing was said about it.

 

Like an earlier poster I don't think that a Die crack in the Reverse Proof will enhance the value. It might even detract from it.I have completed my Proof and Mint sets of Silver Eagles.

 

In between I have been collecting Raw Morgans of a certain quality.I have been buying slabbed NGC Morgans whenever I can get a good price on MS65.I have purchased 1881S, 1885,1886and 1887 for less than a $100.00 on each.

 

I have started submitting Morgans to NGC for grading.If I feel that the coin has what is called a VAM with such irregularities as a die crack, or a double profile or a pitted reverse than I have to pay an extra $10.00 for what is called variety plus. If they have these Vams and I don't pay hte $10.00 then NGC will grade it but not provide the Vam It is possible that there are already slabbed NGC coins out there that have Morgans with VAMS but are not labeled such because the fee was not paid.Furthermore NGC will only recognize certain Vams and will not acknowledge those that are not on that list.

 

There is a Registry for Morgans that is a Registry for just Morgans with VAMS here so people do collect them.Again these are older coins and the standards are different.I am pretty sure that there is a VAM for Morgans that names a die crack.

 

I think what you need to ask NGC is whether the die crack in your Reverse Proof will result in a decreased grade and if they will label it as a die crack without the $10.00 fee.

 

There are probably some who will pay more for the irregularity and more who will pay less because they feel it is damaged.

 

Another thing which you have to consider is whether the coin would be labeled as an error or a VAM.If the coin is an error and it is slabbed then it can't be used in a regular Registry.It would have to stand alone in a Signature set for errors.I have not seen any VAM designations for Modern coins and I know that something like a Struck thru is considered an error and the die crack is considered a VAM in the older Morgans.Sounds like you have some research to do and some decisions to make/.

 

I had a situation some months back when I sent in a raw Silver Eagle to be graded and it came back as an MS69 with a Struck thru error.

 

I asked Numismedia here about it and they referred me to two people.One is named Fred Weinstein and is considerd an expert in the error field. I sent him an E- Mail and got a lot of good info. I got an answer from him the next day and he was very helpful.

[errorist]

picture picture picture

[ibyandsellsmith]

Don't be discouraged from what some people say. It's far easier to find a PF 70 then an error though not that great of an error an error just the same. Those coins are hand picked and are not supposed to leave the mint, so therefore worth more then normal price, although you will have to find the right person. As stated before, most like their moderns perfect.