What to do with this coin..

Discussion in 'Modern Chinese Coins & Medallions' started by skipau, Oct 26, 2012.

  1. skipau

    skipau Member Silver Stacker

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    I was going through some coins on the weekend and I opened up (for the first time) one from the Singapore coin fair that I purchased awhile and I discovered the following...

    [​IMG]

    Yes - they are on the coin itself.... Not happy Jan.... but oh well.. that is life.

    I should have checked it out when I got it in, but was so flat out earlier in the year that I have only just started looking at things I got in 6 months ago.

    So what to do?

    If i send this for conservation/cleaning at NCS do you reckon that will be the only real method of sorting out this coin without any damage etc?

    Any tips from the pros?

    Thanks!
     
  2. fishball

    fishball New Member Silver Stacker

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    NCS or a refund would be the only choices imo.

    You wouldn't be able to sell that at a very good price due to the spots.

    There is no guarantee NCS would work but they have a pretty decent track record.
     
  3. Lunarowl

    Lunarowl Active Member Silver Stacker

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    I though copper spots are for gold coins, and milk spots are for silver?
     
  4. skipau

    skipau Member Silver Stacker

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    the problem for me was that it is a little too late for the refund.. 7 months ago... I was just busy with life and didn't even look.. oops! hahaha.

    Well... I have been wanting to try NSC for awhile anyway - so here is my chance!

    Do the spots affect the grading if I grade as well? I read somewhere that milk spots dont... I wonder about these dirty little buggers...
     
  5. yennus

    yennus Well-Known Member Silver Stacker

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    I think NCS conservation might be able to help with those spots.
     
  6. low

    low New Member

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    Just asking, how do you keep this coin? Do you see these rusty spots on other coins?
     
  7. Austacker

    Austacker Active Member

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    It is definitely a contaminant and the quality control seems lacking in this instance. I would contact the makers of the coins in this case wasn't it Panda America or someone similar. Explain the situation. They may be able to help in some way, worth a shot I know I would. This is just not toning etc...
     
  8. willrocks

    willrocks Well-Known Member Silver Stacker

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    Sell it for spot and move on. Life's too short to bother over a few spots on a coin.
     
  9. jc888888888

    jc888888888 New Member Silver Stacker

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    NCS should remove them ......if you bought from panda america ,you wont be getting a refund ,some silver get,s this spotty toning ,is your storage area humid at all??
     
  10. heyimderrick

    heyimderrick Active Member

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    NCS for one coin like this will be quite costly. Make sure the investment is worth it to you. If they can't remove the spots and it grades poorly, would you be better off buying a new one? Just something to consider.
     
  11. skipau

    skipau Member Silver Stacker

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    thanks everyone for the points on this. I will have a good look at the coin and depending on its state.. perhaps it might be best just to treat it like a bullion coin and be done with it.

    I did email the company that sold it to me... but they have now said that it was too long between purchase so they are saying it could have been my environment... yeah right.. haha

    for user "low" - coin is kept in metal safe deposit box with most of my others - all of which are nice a pretty! haha..
     
  12. scone

    scone Active Member Silver Stacker

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    Sa_bogan's melting pot
     
  13. jc888888888

    jc888888888 New Member Silver Stacker

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    IMHO ,do nothing :) but enjoy the coin ,if the market flip flops on these as the mintage is real low 2500? and I do believe it will .....then you could consider NCS ,imho ncs has a 90% chance of removing those spots as they are not the milky variety.........
     
  14. Birdman

    Birdman New Member

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    skipau,

    Although my experience with NCS and silver coins with spots is more limited, in the past I've sent several gold coins with copper spots through NCS and they removed the spots very nicely. One thing to keep in mind with the fees is that they are no longer a flat rate for all coins (as they used to be). There is a flat rate for modern coins less than <$300 in value (a $26.50) fee (minimum of 5 coins submitted), but the fee for conservation and grading for coins above $300 works out to about 5% of the value of the coin.

    http://www.ncscoin.com/conservation/services_and_fees.asp

    Thus, instead of a $26.50 flat fee, a $3000 gold or silver coin would cost $150 to conserve. Yikes!

    If you've got some high value coins that you'd like to conserve, one way to do so for less money is to sign up for NGC Premium Plus membership.

    http://www.ngccoin.com/MemberPortal/Login.aspx

    That does cost $250 for a year's membership, but you do get 5 coupons for free NCS conservation and NGC grading of coins up to $3000. Thus, instead of 5 x ($3000 x 0.05) = $750 in conservation and grading fees, it would be $250, plus you'd have the NGC membership for a year. I just signed up for that membership to send in the five higher value coins I have. The coupons should be coming in the mail.

    The high fees are unfortunate, but I am convinced that the coins receive a higher grade if they have been conserved first and have a higher eye appeal. Accordingly, I won't spend the $ for a common date gold panda, but I will for a few of the uncommon ones I have that do not yet have any MS70s for the year.

    Good luck!

    Birdman
     
  15. jc888888888

    jc888888888 New Member Silver Stacker

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    Neat observation birdman!! If you have 5 high value coins to send to NGC/NCS even if you have a membership ,you are better off signing up the wife for a membership:) never thought of that! Also a overlooked fact you can join the ANA for around 20usd and grade coins ,I dont know all the details but:NGC is the official grading service of the American Numismatic Association (ANA). If you are an active member of the ANA, you may submit coins to NGC by applying for an ANA Submission Account. from ngc website
     
  16. tamo42

    tamo42 New Member

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    I thought the $250 thing was for NGC only. Does it apply to NCS as well?
     
  17. jc888888888

    jc888888888 New Member Silver Stacker

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    if you go for elite membership you get 5 world NGC only submissions free plus 10% off ngc grading(not ncs) ,but if you go one step down to premier you get the 5 ngc/ncs submissions free but you do not get the 10% off ,so it depends if you grade a lot of coins or not .......also if you are going to NCS everything you send in it is for sure more advantageous to go premier ............
     

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