Silver Eagle spots

[Remington332-migration]

Hi everybody - I am new to the forum and coin collecting in general.

 

I recently bought a 2003 NGC MS-69 SAE off of ebay: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=39488&item=3904204529&ssPageName=STRK:MEBWN:IT

 

When I finally looked at the coin in person it had a small black spot under the "L" in LIBERTY. Is this normal for a MS-69 coin? What is the black spot? If I send it to NGC for reholdering can they remove it? Should I be upset at the seller?

 

Thanks for checking out my post.

 

-Matt

[jom]

Welcome to forum! I hope you stick around because there are LOT of good "old timers" around here to learn from. Not me though...I'm not OLD.

 

Anyway, I don't exactly know what the "raw" value of this coin is. Anyone? $10 maybe? So you paid $20 for a high grade slabbed version. That isn't bad I suppose. BUT a visible spot would annoy the hell out of me in a MS69 holder.

 

The problem with removing the spot and reholdering is that you'll pay even more for that and I'm not sure if the coin itself is worth it. Removing the spot shouldn't be a problem, if that is what you want to do. But the reholder will be another $10 or so. Why bother?

 

As a new collector I would suggest NOT buying off Ebay. You should be going to coin shops and coin shows to LOOK at in person as many coins as you can. You will ultimately find a niche series you like (more than one probably) and then you can concentrate on that for starters. Look at as many coins as you can before you start buying....in the long run you'll save a bunch of dough....go to auction lot viewings too. Lots of coins to look at...FOR FREE.

 

jom

[Remington332-migration]

Thanks for welcoming me and also for the advice!

 

I guess I'll just hang on to the coin for now, because to fix it wouldn't be economical. I did e-mail the seller though, since the coin I recieved was not the coin pictured (which wouldn't have been such a problem if there wasn't a black spot on the coin).

 

As a college student I don't have a whole lot of money to spend on coins (and this is only the fifth coin I've ever bought), so I was upset to recieve this one.

 

Thanks again and any other advice is welcome.

[LucyBop]

This black spot may have developed after the coin was slabb'd....

 

who knows?

 

also you may buy others that are flawless and yet they still may turn alittle in the holder months/years down the road...

 

 

The holders are supposedly inert, but the silver content of the coin is highly reactive, and something may have started on it prior to slabbing.....

[XpipedreamR]

If I were you, I would try to return the coin. I would not want an MS69 coin with a spot on it. These carbon spots kill a coin for me.

 

 

I don't know what the sellers return policy is, as he doesn't seem to state any in the auction. He does, however, make the claim that

 

COINS ARE ALL WHITE WITH NO SPOTS OR TONING

 

 

 

 

If it bugs you, I'd dump it. If he won't take it back, sell it to a dealer, trade it...whatever. There's no point having a coin that doesn't do it for you.

 

 

The good thing is that no matter how it works out, it's not a big money coin, so you won't be out much if you take a loss.

 

 

Sorry for rambling incoherently...I only slept for like 3 hours last night

[TJ]

We're used to your rambling incoherency, XPDR.

[Remington332-migration]

XpipedreameR, I forgot about that quote, thanks!

 

I did email the seller and they are exchanging it for me, so I hopefully I will be satisfied with the new coin . Thanks everybody for all of your advice.

 

Any other series good to collect for those of us on limited budget?

 

Thanks everybody for your advice

[EZ_E]

XpipedreameR, I forgot about that quote, thanks!

 

I did email the seller and they are exchanging it for me, so I hopefully I will be satisfied with the new coin . Thanks everybody for all of your advice.

 

Any other series good to collect for those of us on limited budget?

 

Thanks everybody for your advice

 

Welcome to the boards!

 

Do yourself a favor and stay away from purchasing slabbed moderns. The premium, IMO, is not justifiable and you will NEVER recoup your investment. Instead, get a Dansco album and fill it with raw coins. As advised earlier, go to shows and shops and look at the coin. You will be able to buy a raw ms 69 for a fraction of the slabbed price most of the time, anyway. This provides the thrill of the pursuit and you will gain invaluable knowledge in the process.

 

Best of luck and shop wisely.