New 2014 Proof Britannia is an absolute beauty

Here's NGC's policy..

It's still a beautiful and perfect coin just with spots on the queen side.

http://www.ngccoin.com/coin-grading/guarantee.aspx

THe NGC guarantee doesn't cover hazing or spotting. Check down below. They explicity state this:

5. Deterioration of Certain Coins.

The NGC Guarantee does not apply to certain Coins where the appearance of the Coin changes over time (deterioration). NGC shall make the sole determination as to whether this deterioration has occurred. The following specific parameters apply:
In certain Coins, natural environmental deterioration may cause undesired features to appear, such as (but not limited to) spotting, hazing, PVC and corrosion. Spots, for example, can occur on modern silver Coins as a result of the minting process or other natural conditions over which NGC has no control. Therefore, the NGC Guarantee does not apply to Coins exhibiting any of these issues.

Seller is not taking it back without 20% restocking fee. 1200+ reviews 100% but felt strongly that pf70 is still PF70 with some spotting. :(
 
Silverpv said:
Seller is not taking it back without 20% restocking fee. 1200+ reviews 100% but felt strongly that pf70 is still PF70 with some spotting.
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Did the seller hide the fact that it was spotted, or the degree of spotting. If he has misrepresented the product then he shouldn't be charging a restocking fee to take it back.
 
I have a bad feeling the seller very well knew there were milkspots on the coin, and chose not to disclose it.

I'll have to check mine as well, but won't be surprised if there are milkspots cos it's just something newer coins seem to have (even proof libertads).
 
Yeah, I asked prior to if there were spots, he said no. He stated.. Since its NGC PF70 its still a perfect coin. sucks. It is still a nice coin. This problem with spotting is something you cannot hide from. Perhaps one day there will be a process to clean it, if people become dissatisfied enough.
 
It seems that virtually all of the big mints today are having problems with visible milk spots developing....it's not just the RCM, the RM, the Perth Mint, the U.S. Mint, the NZ Mint....it's all the big mints I think.

The fact that some / many of the proof Britannia's are developing visible spots is not abnormal today it seems. Not that I like this fact but if all mirror proof silver coins are susceptible, then perhaps if you like a particular mirror proof silver coin design, you may simply have to accept that the coin you have today that has no spots may develop spots over time.


I also don't think it's been made clear by NGC and PCGS that any milk spot on a coin will necessarily render that coin less than a 70.




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Silverpv said:
From what I read, technically its still a 70, but aesthetically it is downgraded.
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Yes, I think that's true but just because a coin has milk spotting at the time of grading, doesn't necessarily mean that NGC or PCGS won't determine the coin to be a 70. Aesthetics is a much smaller part of the grade I believe and it is subjective....they have to make the grade determination largely on technicals like amount of wear, amount of scratches and dings, etc.

Most people who buy collector coins don't like spots on the coins namely because they have a firm belief that it affects their own selling price...at least that's the gripe I most often hear when it comes to milk spots.



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Are you sure its not because they are a little OCD? I'm going to sit on it for a bit. Really you can only see if it you're really looking for it. Most people wouldn't notice. I'm hoping in the future there's becomes a way to clean it w.o affecting resale value. And i'm one of those people that thinks spotting affects resale, but I could be wrong. It really is a beautiful coin. Luckily most of the spotting is on the queen side.
 
Sort of sucks..

But honestly? Within a few years, 90% of them out there could have worse spotting -- while yours stays the same.


And apparently you got yours at a decent secondary-market price, so..


Always a tough call, but do whatever you can live with, as it is yours.

And if keeping, still make a big stink about it to the seller, and maybe you can get a discount on a future purchase.. :D
 
Silverpv, I think keeping it and not worrying about the milkspots is the right approach....after all, apparently the price you got it for was a great price.

It's likely that in the future technology and human ingenuity will find a way to remove milkspots with no noticeable adverse affects to a coins' value.

The 5 oz proof Britannia has a very low mintage and the design appeals to just about everyone (except the one or two stackers who have no sensibility of what a great design is :) ). If the coin that you were buying was a plain old run-of-the-mill proof coin (like a 2012 Perth Mint 5 oz proof silver Lunar Dragon) that had a mintage in the thousands then I would give different advice....like don't buy it.

My Britannia is double sealed and in my safe deposit box where she will stay resting for the foreseeable future.



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I will maybe check mine as well. I have vacuum sealed, but since I store it in the original box some additional protection maybe won't be a bad idea.

At that time 2 sellers told me that their Britannias have milkspots. I was lucky that the one I won on eBay was in perfect condition. I paid a lot for the coin. I would be very unhappy if coin receives milkspots, but that's like I guess. There are worse things that can happen. :)
 
Stark said:
I will maybe check mine as well. I have vacuum sealed, but since I store it in the original box some additional protection maybe won't be a bad idea.

At that time 2 sellers told me that their Britannias have milkspots. I was lucky that the one I won on eBay was in perfect condition. I paid a lot for the coin. I would be very unhappy if coin receives milkspots, but that's like I guess. There are worse things that can happen. :)
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If yours gets milkspots, and yours is vacuum sealed, then possibly every 5 oz proof Britannia will eventually get milkspots.

If yours does get milkspots, I'll probably write a terse letter to the RM to demand that they investigate why their silver proof coins are developing milkspots and to once and for all fix that problem or face a community of collectors who will begin to refrain from buying RM silver proof coins.....or something like that. I'm sure I'm not the first person who will have written such a letter to the RM.




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Ah. Just went to check my own and lo and behold, there are some milk spotting. Despite my best efforts to stop any milkspot from forming.

Ohwells, guess I should have learnt my lesson to stick to gold (but that 5oz Britannia was so expensive!)
 
Bummer Altima... The consumer market retaliating is the only way the mint will address the problem. Otherwise, I don't think mints give a s*@#! since they have our money already. I'm curious to know how many others have the same problem now. I doubt I'll buy additional proofs since its a crap shoot and quality cannot be guaranteed.
 
Altima said:
Ohwells, guess I should have learnt my lesson to stick to gold (but that 5oz Britannia was so expensive!)
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Yeah, there are instances when it's like, "Okay, that's a really nice modern Ag coin & all.. But at that price-point, might as well instead just pick up some gold or a cool slabbed numi that's hundreds of years old"..


I commend the Royal Mint for putting out such a fantastic design -- but if the quality isn't there, it's going to hurt them in the long-run.
 
Silverpv said:
Looks like a dealer has a pf-70 with some spotting on the britannia side. No one looks immune!

http://www.ebay.com/itm/2014-Silver...-NGC-PF70-First-750-Struck-Rare-/111636678955
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I think that is the lesson here...no one is immune and since most of the silver proof Britannias seem to be developing spots in spite of the fact that they are commanding high premiums and are certified PF69 or 70, if you can pick one up for considerably less than the average price on eBay / other dealer's websites, then that's a good thing in my book.

No doubt in most people's view that the design of the 2014 proof Britannia is fantastic and the low mintage is another important factor in value. If all examples of the silver version have spots, then you are much better off paying a lot less if you want to have one of these coins in your collection. This is especially true for those who are collecting the series as some are (I am not).



A small group of individuals boycotting a set of collector products from a mint or a mint entirely is not as effective or simple as one may think. I'm not stating that a boycott can never be effective, but it needs to be extremely well organized and participation by the mint's normal customer base must be very high percentage-wise in order for the boycott to become an economically persuasive or meaningful one. I am not opposed to joining a very well organized boycott for the purpose of getting a mint to take immediate serious steps in addressing and eliminating the problem of milk spotting on their collector silver coins.





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I hear you... I'm late to the game, and only recently started, so my position is a little different. I'm not continuing any sets. Although I did do a back portHopefully, there will be a resolution or enough discontent to get mints to fix the problem... I wanted this one though just cause the design was very nice.
 
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