Topic: 1988 PCGS PR67DCAM 100 yn Year of the Dragon Question

[Obsidian]

I recently bid and won an auction for a 1988 PCGS PR67DCAM Year of the Dragon gold 1 oz piece.  Being that it was a 67 the bid price seemed fair.  A 67 sold in china for 4734.00 and other raw coins have sold for 4200+ according to Pricepedia.  I ended up winning this at $2225.  I got the coin today and it has several of the red / brown spots on it.  No mention of these spots in the listing.  It has a fairly large one on the obverse near the rim and a large one near the pagoda on the back along with a couple of other smaller ones on the back.  The large spots are maybe 1/16th of an inch in diameter.  I assume this is why it recieved the 67 grade.

My question is, how bad do these spots affect value with the 67 grade?  Will they grow larger?  At a PF67 with spots is the coin basically bullion?  I don't think the Seller accepts returns but I am mostly trying to learn for the future.  How big of a deal are these red/brown spots I have heard about and can anything be done to get rid of them and what impact do they have on the value of the coins.  Should I feel okay since I only paid $2225 for it?

Any info all of you can provide would be appreciated.

Thanks,

Seth

[peng_you]

I will first start off by saying that in my opinion, you have purchased a rare coin at a great price. Without seeing the coin in hand, i would have to imagine that the spots certainly did have an effect on PCGS grading the coin a 67. May i suggest that you resubmit the coin to NCS, which can remove the spots, and sit back and enjoy the new holder your coin comes back graded in.... $2200 is a no brainer, the spots, the best thing that could have happed to you considering you bought what you thought to be a lower grade coin due to hairlines etc. You purchased a coin graded long before the recent chinese coin boom and not sent to NCS conservation. I hate to say it, but it seems at least in the chinese coin market, the expert grading company or Superior at the moment, is NGC. Which of course presents buying opportunities to buy good deals like this one. Good Luck!

Pengyou

[PandaCollector]

Seth,

I second peng_you's suggestion. "Red spots" can often be removed by NCS. Does it have any other flaws like rub anywhere? If it is otherwise a good coin, why don't you send the coin to NCS for conservation (fixing up)/re-grading. You could end up with a MS-68 or 69 coin.

Best wishes,
Peter Anthony
http://www.pandacollector.com

[Obsidian]

Other then the spots the coin looks to be in really good shape.  Where a couple of the spots are though it does look like there could be something in / on the coin.  A little spec of impurity in the metal or something that is causing it to redden around it a bit.  I'm guessing NCS can get rid of the red but the little spec maybe not.

Guess I will submit it and cross my fingers!  When I submit to NCG I know they have their $3000.00 limit on modern coins for the cheaper price.  Do I use the price I paid for it to submit or do I need to use current market prices (which arguably would be what I paid).

Thanks,

Seth

[PandaCollector]

If you would be satisfied with $3,000 or less in insurance compensation if the coin was lost than go ahead.

Best wishes,
Peter Anthony
http://www.pandacollector.com

[badon]

I think you have received excellent advice on sending this coin in to NCS for conservation, and then grading at NGC. It looks like you made a great purchase that could end up paying off very well. PCGS probably marked the coin down in grade because of the spots, so if it looks very good after NCS is done removing the spots, you could have a profitable NGC 69 in your collection.

Congratulations on your purchase.

[Nobleone]

Congratulations on winning.  I was biding on that coin and was mad at myself for not bidding a flat $3,000.00 for it.  It was one of the first items on eBay I ever bid on and I was unfamiliar with how biding worked.  Get it conserved at NCS and you will be set.  Good Luck.