NGC's holders do not protect against the environment!

[EZ_E]

I just sold a set of ASE's on ebay. They were all graded by NGC as MS-69 with the 2003 graded MS-70. I just checked them out before I went to ship them. Two of the 69 coins turned and the MS-70 turned dog ugly! It looks like nasty residue all over the right obverse field. This wrecked the whole deal and caused me to loose money. Granted they were stored in the attic for eight months but this is no consolation.

[braddick]

I'm sorry to hear that. Probably more of the blame would go to storage location and conditions than the holder they were housed in. Still a shame though.

[GDJMSP]

I don't think it would have mattered what holder they were in if stored in the attic. The hottest place in the house ?? No wonder they turned.

[gmarguli]

What kind of residue? Could they have been dipped before being submitted? How long did you own them?

[kryptonitecomics]

There are a lot of fumes floating around in the attic that could find it's way into a slabbed coin since they are not air tight. Couple that with the heat in the attic and moisture could have easily formed inside the holder and then left a hazzy residue on the coins.

 

 

I would say there is probably an 85 to 90% chance these coins would have been fine if stored properly. It is a tough lesson to learn, but hopefully you can crack the coins, give them a dip and then possibly resubmit them for grading.

 

I would suggest you store them in a nice dark cool environment that has a limited amout of temperature fluctuations year round. That should insure that your coins don't do nasty things inside their holder in the future.

 

 

Sorry to hear about your deal going sour

[Tradedollarnut]

Submit them for appearance review. The coins are guaranteed against turning - no matter where you store them.

[coinman1794]

Certainly, the attic is not the most desirable place to store coins, but, that aside for the moment: it may be that something on the coins' surfaces that was sealed in with them caused the coins to turn. For instance, one of the bigest problems with modern coins is die grease. Every coin struck today is affected by die grease. New coins are covered with it, and, this nearly invisible substance can cause perfect white coins to turn in their NGC holders, regardless of storage locations. This may be the cuase of the turning of the coins. Many state quarers, for instance, were given the white designation and then turned in the holders due to grease on the surfaces. Now, if the attic was a volitile climate, this may has sped up the process.

[coinman1794]

Do you have pictures of the coins? It may be an improper dip that cuased residue, as well. Again, tha attic could have sped up the process of deterioration here, too.

[EZ_E]

Granted that it wasn't an ideal storage location but other coins slabbed by NGC were not affected. I'll see if I can image the coin tomorrow and post it. This just reinforces my conviction that the ultra high grade coin bubble will eventually burst and many will loose boocoo bucks in the process.

 

This should encourage all TGS's to routinely use intercept shield linings in order to protect the coins and their reputation.

 

p.s. Greg, I had them for two years, the 2003 MS-70 for one year.

 

p.p.s TDN, I'll look for the receipt and see if I can exchange it. O/W, I'm selling it at an $85 discount to the buyer.

[Tradedollarnut]

You don't need to exchange it, you don't need to return it, you don't need to sell it at a discount. You submit it to NGC under their appearance review process and they either dip it and make it right, or they pay you for the coins.

 

That insurance cost is built into the slabbing fee.

[airplanenut]

Submit them for appearance review. The coins are guaranteed against turning - no matter where you store them.

Not true... from the grading guarantee:

 

"The NGC Guarantee does not cover coins which have been graded by NGC but then are subjected to abuse, alteration, or improper storage conditions such as (but not limited to) extreme temperature, moisture, damaging environmental conditions, excessive light, excessive motion or vibration, or any other extreme conditions. "

 

Jeremy

[EZ_E]

Thanks for the fine print, Jeremy. However, the coin was dipped and/or played with before it was submitted. I'll try to get a good photo and it will be evident that something is fishy.

[coinman1794]

If the coins were dipped, then I would say that that is the cuase of the problems at hand. It is very hard to dip a coin without leaving residues that will eventually turn the coin. In fact, not even NCS can do it! I have actually had coins conserved (dipped) by NCS that turned in their holders while they were in route from NCS back to me! I would say that if the dipping is the cuase (likely!) then just send them straight to NGC on Appearance review. They will do whatever is necessary. If it was dipped improperly, that is the route casue of the problem, not the storage environment, though environment could have sped up the process.

[TomB]

Sounds like the rounds (ASEs) were dipped, though this is unlikely since they are relatively young pieces. Storing coins in an attic is not a good idea, as has already been pointed out, because there are extremes in temperature, humidity and ambient chemical exposure. Next time, try a safe deposit box.

[gmarguli]

Sounds like the rounds (ASEs) were dipped, though this is unlikely since they are relatively young pieces.

 

Since they are so high in silver content they tone extremely fast. I'll dip even the slightest gold rim tone off coins like this before submitting. You'd be surprised how many people will only buy blast white ones.

[EZ_E]

Here is a photo of the coin. The quality is terrible (used a Kodak EasyShare cx6330) but it gives you the basic idea. I remember Greg posted a picture that he just held in his hand and it turned out great. So whether it's operator error or the camera, etc. here it is:

 

 

p.s. The discoloration has actually faded somewhat as it acclimated to normal ambient temperature.

 

p.p.s. The area of interest in the the viewer's right field between the "T" and the "Y" in Liberty.

[BillJones]

I think that it's really unfair to slam NGC on this one. When storing coins, heat, moisture and light are all environmental factors that one must avoid. If you store your coins in your attic or your cellar, it does not matter what holder you use, the chances for damage are quite high.

[kryptonitecomics]

I can't make out anything in the coin picture......I know you did your best, but.......no way I can judge anything from an oversized blurry iimage, sorry.

 

 

I do agree with Bill though.....doesn't seem to be NGC's fault at all in this case.

[michael]

submit for appearance review and let ngc make the determination

 

michael