Question for members with large collections of NGC Silver Eagles

[Drsmp]

As some of you may know PCGS no longer will honor the grade guarantee for Silver Eagles that develop spots or toning. Their reasoning is that the spots are a US mint quality control issue unrelated to materials in the slab.

I started collecting ASEs in 2008. In my collection - 48 of 140 PCGS ASEs , 1 of 150 NGC ASEs, and 0 of 30 OGP ASEs have developed spots. Since there are millions of ASEs in collections, my numbers are statistically insignificant and I would appreciate any NGC members input on their experience with their ASE collections. How many of your ASEs have developed spots/toning after they were holdered?

[$ilverHawk]

Look here. http://www.coinworld.com/articles/printarticle/spotting-on-silver-american-eagles-remains-a-

 

It appears to be a known hazard connected with the collection of ASE 's.

 

Carl

[Deerefan8420]

I had a small ASE collection at one time, around 45-50 coins. Most were graded PCGS/NGC PF70 DCAM/UCAM. The only coin that had developed any spots was a 2011 ASE graded MS70 by PCGS. When I bought the coin, it was spot free. And after some time, it started to develop the spots. I had a couple of 2011 and 2012 ASE's that were MS70 by NGC and they never developed any spots.

[Drsmp]

Carl, yes silver eagle develop spots - however through private conversations with other folks that have large collections of ASEs, some TPG slabs seem to be (exponentially) over represented and the slab itself may contribute to the problem. On the PCGS board one member stated that 60% of his 400 slabbed coin collection developed spots, while the 375 coins he kept in OGP are still good. One could deduce based on the results of my 300+ collection and this other 775 coin collection that Pcgs slabs accelerate/cause spots . Of course the other conclusion could be that he and I are extremely unlucky and our collections are statistically irrelevant. Getting some feedback from collectors with numbers of NGC eagles would help. For me -so far -NGC ASEs have been almost perfect and the one coin that developed an area of toning was promptly conserved by NGC at no charge.

[RWB]

If the coins are exposed to a contaminated atmosphere damage can be expected. One should not read too much into the CW article. Anecdotally, most of the problem seems to be with coins removed from original packaging. If blame can be stuck on the Mint, then a “grading” company could back out of their “guarantee,” saving them $$$.

 

Being very small fish, collectors have little to do except get eaten.

[johnny9434]

If the coins are exposed to a contaminated atmosphere damage can be expected. One should not read too much into the CW article. Anecdotally, most of the problem seems to be with coins removed from original packaging. If blame can be stuck on the Mint, then a “grading” company could back out of their “guarantee,” saving them $$$.

 

Being very small fish, collectors have little to do except get eaten.

it sure is a lousy way of getting burned

[RWB]

...the little fish are eaten raw --- so at least they are not "burned."

[Crohnos01]

[coinman_23885]

If I owned PCGS or NGC MS/PF70 coins, I would sell them. I foresee a significant depreciation in the value of these coins given that the cause has not been identified with certainty, and at least one TPG (and possibly two) will not honor their guarantee for coins if hazing or spotting exists.

[coinsarefun]

I think all your toned ASE's should be sold to me