Got MilK!

[sovereignsteve]

@SovereignDid it arrive like that, or has it developed since you've had it?

[Sovereign]

1 minute ago, sovereignsteve said:

@SovereignDid it arrive like that, or has it developed since you've had it?

Was perfect when i got it

thought was lucky lol 

[Sovereign]

1 hour ago, Kman said:

Hard to tell from the pics, is the mark by the 1? 

Sorry not the best pic yes by the 1 

it's a small spot but thinking when re-sell a proof coin ..

[Pampfan]

22 hours ago, Sovereign said:

Look what i just found ! :/ 

back to the royal mint it goes ?

That just sucks. Really makes you think twice about buying premium silver products.  My 1 ounce proof was just graded pf70uc by ngc. I will see if it develops any spots.

I love drinking milk but hate milk spots.?

[vand]

Is there a refund policy offered on these coins by the Royal Mint?

This is why I simply do not bother with anything pricier than a panda. You have no idea and no control of what your coins will do, and especially if it is a new series from a Mint that is infamous for producing milkspotted coins, you are just asking for trouble!

 

[Pampfan]

Well - Just opened up a box of bullion I put away a few months ago - opened the rolls and look what I found - Milk everywhere.  Almost ever coin in each roll was spotted.  Pictures of some of the worst ones are below - We have the Canadian mint, Australian mint, and the mint of Dublin. I have just decided that I will not buy any more silver coins - I hate milk! 

[craig12]

goddards silver polish   takes em off

[Pampfan]

Well,

Just discovered how most of the mints are shipping their silver coins - I just can't believe it. 

[Pampfan]

A new thought - maybe I am looking at this milk spotting issue all wrong.

if you have a coin slabbed and graded 70 that has milk spots develop after grading - could that make it more valuable.  In the future there may be a new breed of collector that hunts down these types of coins.  

Could milk spotting be the next toning craze on coins (yes I know toning is different - please let me finish my rant) with the most milk spotted coins bringing the highest returns. I find this idea interesting, albeit maybe silly.

But just remember that some items that have become collectible are usually ones that no one collects today. 

Also I believe that the mints are currently under going secret testing to eliminate milk spotting forever, thus making the current population of stuff so much rarer.

So a couple glasses of ??????could bring ?????in the future.

You heard it from me first.

??

 

[Pampfan]

Well,

I started to look around the internet and I have found the first coin for the milk collection being sold by Bullion Exchanges - located in New York. ( I have personally been to the shop and they are no joke - They got the goods - Anything Pamp that you can think of - except of course for the 1/4 ounce size )

https://bullionexchanges.com/2016-1-oz-silver-canadian-superman-s-shield-ngc-ms-70-fdoi-milky

I believe the upward potential of this coin could be great.  

Funny how I just came up with the idea a few days ago and now one of the major bullion houses is running with it.  

You know - Milk spots just don't happen to appear on every coin - it takes a special one to get them - one that has been prepared ever so properly.

I think I may purchase 10 of these and sock em away. 

[sovereignsteve]

It would be interesting to know whether NGC etc would mark down a coin sent in for grading with milk spotting.

Maybe it's just us fussy beggars, always insisting of shiny perfection!

[jayboat]

If selling milky coins on the forum, what would you say would be a fair amount to ask?. If they were normal coins like kooks, elephants, brits ect and in perfect condition but with milking. Would be fair to ask for spot plus vat? Would it be ok for example to ask for £17.00 an oz at this time with spot at £14.40ish

I ask because i have been playing with the idea for a few months now to sell all my milky stuff and get some kilo coins. I dont really think that spot will effect this so much as it normally works out around the same cost of kilo coins per oz. 

Spot +vat = kilo coin cost /32.15

[oliversw5]

10 minutes ago, jayboat said:

If selling milky coins on the forum, what would you say would be a fair amount to ask?. If they were normal coins like kooks, elephants, brits ect and in perfect condition but with milking. Would be fair to ask for spot plus vat? Would it be ok for example to ask for £17.00 an oz at this time with spot at £14.40ish

I ask because i have been playing with the idea for a few months now to sell all my milky stuff and get some kilo coins. I dont really think that spot will effect this so much as it normally works out around the same cost of kilo coins per oz. 

Spot +vat = kilo coin cost /32.15

Ive thought about this myself as I would be keen on buying some milky stuff. How I would work it is to go to the cheapest source I could find and then discount it due to milkiness. I could currently get new coins in for around 16.40 a coin landed. Id expect to pay less than that. 

[Pampfan]

I would think that if you are speaking strictly bullion coins - they would always be worth at least spot.  I know in the USA you will never be able to get any American Silver eagles at spot - regardless of the condition.  There will always be at least a $2 premium over spot whether spotted or not.  

Even crazier is that phenomenon I call the "colored silver eagle".  Around the year 1999 and 2000 - Some one got the idea to color some silver eagles and sell them as specialty coins on TV for a huge mark-up over what spot was at the time.  They sold 1000's of em.  Come 2014 -  I started to take my kids with me to the local shows and they liked the colored eagles.  Funny thing is that the majority of the dealers that had them had them in the junk silver bins - so I snatched them up for about $1 over spot.  Week after week I was able to purchase more and more of them - the majority being pristine examples except for the coloring.  My kids have accumulated about 60 of them by now.  If you look at what they go for on Ebay - about $10 to $20 over spot - depending on the coloring of the coin, what is going on here?  The dealers that are selling them to me say that they are only worth silver - but the people buying them on Ebay are saying something different - they are collecting them and are paying much more for them than what spot is.  

Can anyone explain this?

Anyway - @jayboat I like the idea.  I hate milk spots so much so that I myself plan to sell off a few rolls of the silver that I got.  A fare price would probably be what you negotiate with the buyer. I would think spot + small premium.  No one is able to buy bullion at spot unless you are a dealer or you get lucky.

Post some pics.

[Pampfan]

On 2/2/2017 at 04:28, sovereignsteve said:

It would be interesting to know whether NGC etc would mark down a coin sent in for grading with milk spotting.

Maybe it's just us fussy beggars, always insisting of shiny perfection!

I think NGC would certainly mark the coin down if it had milk spotting.  

I think I read somewhere that if you send in a milk spotted coin to PCGS or NGC that they already graded - they would remove the milk spots for a small fee.   Just can't remember where I saw it.

 

[sovereignsteve]

30 minutes ago, Pampfan said:

I think NGC would certainly mark the coin down if it had milk spotting.  

I think I read somewhere that if you send in a milk spotted coin to PCGS or NGC that they already graded - they would remove the milk spots for a small fee.   Just can't remember where I saw it.

 

If that's true then they must know of a way of removing it that doesn't involve abrasion ie chemical, so as to clean proofs. Would be nice to know how.

[Pampfan]

Just found the article on the pcgs website. 

Go to the site and search for 

Pcgs policy for spotting on modern silver coins

 

[jayboat]

7 hours ago, Pampfan said:

Just found the article on the pcgs website. 

Go to the site and search for 

Pcgs policy for spotting on modern silver coins

 

I like your style  

[NewMSmatist15]

On 1/10/2017 at 14:15, Sovereign said:

Look what i just found ! :/ 

back to the royal mint it goes ?

This worries me since I recently purchased one...couldn't resist the design and a mintage of only 8,500. Gosh darn I hope mine doesn't get milk spots!

[Pampfan]

Just found this in my stack - 1 oz Pamp Suisse bar with Spots - The spots really just kill the beauty of the bar - I think I may crack it out of the assay card.