NGC Slabs Long Term Storage

[brokencompass]

I got a bunch of NGC slabs that house my RED copper coins. They are very high grade and some of them very hard to find in such grades. How do I store such slabs? I would appreciate your feedback.

[BadThad]

With MULTIPLE layers of protection. Most people put far too much faith in the airtightness of slabs. I guess they're the ones that have not seen all the older slabbed coppers lableled red but are now clearly brown.

 

I store my slabs in freezer grade ziplock bags as a first layer of protection. In that bag I place a harshly scrubbed and cleaned, copper cent as a sacraficial coin. Then I usually put all of that into another ziplock and then store it all it tupperware type containers in a constant temperture environment. I have a few items that are in tupperware and into a larger tupperware container.....some serious layering! My saying: MO LAYERS = MO BETTA

[#]

Let's bump this back to the top and include all NGC slabs for long term storage. I just recently changed banks and safety deposit boxes; I was surprised at the value of these coins that hadn't seen the light of day in eleven years. All held up really well from what I remember as I have zero pics.

When I arrived at home I started going through my safe looking at purchases; again mostly NGC without pics. They didn't seem to look as bright or colorful as I thought, nor did they match catalog auction pics from Heritage, Stacks & Bowers or Legend-Morphy (I know they usually don't look the same when purchased).

What are most concerned collectors storing successful habits? Does not matter if it's a $30 coin or $30,000 coin; what is the most protective way of keeping coins looking like the day you bought them?

 

David

 

[Zebo]

This has been discussed a number of times. There were a lot of good suggestions. One being the Coin Armour Intercept bags and boxes. In the other thread - it was mentioned that the boxes had a problem and may not be for sale any longer. I have not confirmed that. The bags on the other hand are being sold. I'm just about to submit an order and am wondering if anyone actually knows if these bags work or not. They should be good for five years, but Id like to hear from someone who is using them or has any information about them.

 

 

[Coin Armour]

Hi Zebo,

 

I will let other chime in on whether or not they like the bags. That being said I wanted to clarify a couple of points you raised.

 

Intercept Shield used to make boxes, but is no longer in business. They stopped manufacturing some time during 2010. Coin Armour now provides Intercept products to the coin community and others. We make our own boxes that are able to store the slabs once they are placed in our bags. The boxes do not contain Intercept since there is no need once you place the slab inside the bag.

 

The bags should last a minimum of 5 years under proper storage conditions, but will probably last a lot longer. Also, the copper color material will turn black when it is no longer useful.

 

I personally use the bags since I am a collector and have for several years. My silver 70's have always stayed a 70 w/o any toning or spotting whatsoever, and my gold has never developed any copper spots.

 

I hope you find this helpful.

 

kind regards,

Chris

[Zebo]

Thanks Chris for the clarification. My memory about the boxes was a bit vague. I'll have to say that I really like the idea of the bag and think that it is a very good product. As I mentioned, I'm going to go that route for my slabs.

[Coin Armour]

I found this policy while search another chat board.

 

The second to last sentence says it all.

 

http://www.pcgs.com/Silver-Coins-Spot-Policy/

 

 

 

PCGS POLICY FOR SPOTTING OF MODERN SILVER COINS

 

The Spot Problem

 

The December 17, 2012 issue of Coin World had an article describing the Mint's acknowledgement of the "white spots" problem for modern silver coins, especially the .999 American Silver Eagles. In the article it states,

 

"During her less then 18 months as the U.S. Mint's quality division chief, Stacy Kelley-Scherer has focused her attention on a problem that has plagued the American Silver Eagle silver bullion coin almost since its 1986 inception – spots. So far, a solution that prevents spotting from occurring has eluded Mint officials... Each year of the program, collectors and dealers of the American Eagle silver dollars have reported spots or blotches on the obverse and reverse, on all finishes – bullion, Proof and Uncirculated – and on coins from all Mints. The spotting is random and can appear as a single spot, multiple spots crossing the field and devices, or in large blotches or patches consuming significant portions of a coin's design."

 

The article illustrated spotted Silver Eagles that had been graded by Numismatic Guaranty Corp. (NGC). But the problem is not limited to NGC or any other grading service. At PCGS, we have received Silver Eagles in sealed Mint boxes (the 500 once green "monster boxes") and opened them to find coins that have already spotted. We have also graded spot-free coins, sent them to customers, and then had them returned to us months later after they had developed spots. There seems to be no rhyme or reason as to why some coins spot and some don't. But it is clearly something that is happening at the U.S. Mint.

 

The problem is also not limited to Silver Eagles or coins from the U.S. Mint. We have seen the same spotting problem on modern U.S. silver commemoratives and modern coins from other Mints such as Canada, China, and Australia. Our feeling is that it has something to do with the .999 silver composition, as the earlier pre-1965 90% silver coins seldom spot. However, it could also have something to do with the way the planchets are prepared or washed. We are not sure of the cause of the spotting, and apparently neither are the Mints of the world.

 

PCGS Modern Silver Coin Spot Policy

 

When initially grading modern silver issues, PCGS will deduct for spots that are already evident. If coins spot after they are graded by PCGS, they are not covered by the terms of the PCGS grading guarantee. If you would like us to try to remove spots from your coins by "dipping" them, we may be able to do that. It is our experience that spots on proof Silver Eagles can be removed in about 80% of the cases, but spots on Mint State Silver Eagles will only come off approximately 10% to 25% of the time. We launched a Restoration Service on January 2, 2013 and for a fee (grading fee plus 4% of the value) we will remove spots, unattractive toning and other imperfections. However, this fee would be excessive for most modern silver issues so as a service to our customers, we will have a spot removal service for modern silver coins available beginning April 1, 2013. We are only charging a flat fee of $5 for spot removal on modern silver coins. Note that we cannot guarantee whether our spot removal attempt will be successful. If the spots do not come out, we will still reholder you coin in its original grade. It will just be a spotted coin of that grade. We anticipate that a two tier market (spot-free and spotted) will develop, much as it has in the past 10 years or so in the U.S. generic gold market. For further information about our spot removal service, contact PCGS Customer Service after April 1, 2013.

 

[Coin Armour]

When I first read this last night I was sort of indifferent to the "spot removal" service. The cost is only $5. However I think this service is actually a disservice to the collector, for several reasons.

 

Based upon my experience and research, PCGS slabs tend to spot more so than NGC slabs. Is PCGS recognizing this by providing a spot removal service? Also, we know that a spot existing at the time of grading will reduce the grade. The fact that PCGS will remove a 70 coin from its holder, try and remove spots and if unsuccessful, will place the coin back in its holder with its original grade, I think is wrong;

 

"If the spots do not come out, we will still reholder you coin in its original grade. It will just be a spotted coin of that grade"

 

The coin with a spot is no longer a 70. Why PCGS would reholder a coin with a spot and provide the same grade is a disservice to the unsuspecting collector. If they are to remove a coin from the holder and provide some level of conservation, the coin should be regraded. Will they provide a 70 grade label with a "spot removal" reference??

 

Many new collectors might be unaware of an experienced dealer trying to sell 70 grade coins with spots that PCGS tried to remove. The new collector might think a 70 is a 70 no matter what.

 

Also, how many times can someone submit the same coin for spot removal?

 

In my mind this service is wrong

[Zebo]

Haven't thought about that angle Chris. Very interesting and somewhat troubling.

[e1cnr]

Some people have recommended layers of aluminum foil to keep out light and air and moisture (I am not sure if it would cause a galvanic reaction with the copper).

 

 

 

[coinman1794]

Haven't thought about that angle Chris. Very interesting and somewhat troubling.

 

The service is specifically designed to accommodate collectors of modern silver coins, which have been known to develop milk spots due to the chemicals used by the mint. The spots are not necessarily hurting the grade (though they can in some cases), they are simply a fact of life for silver eagles. PCGS even points to copper spots on gold coins as a similar example. I don't see offering a special, low cost service for collectors trying to minimize these spots as troubling.

 

If it was a blanket policy for all PCGS coins and all types of spotting to be re-holdered at the same grade regardless of outcome, that would be a problem.