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Rwanda Gold Santa Maria - GRADING QUESTION/Dilemna


SilverZulu

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Posted

Hi guys,

I purchased this Santa Maria gold BU a few weeks ago from a reputable dealer in Belgium. I absolutely love the coin & plan on getting the rest of the series in gold if I can when they are released. Obviously, this coin sold out quickly & has been in demand on the secondary market, so I’m also looking at it as a possible future sell as well but ideally I would like to keep the series if I can get all of them.

I’ve been thinking about getting it graded but there is a bit of an issue with the coin with what looks like a tiny pinhead sized ding on the Santa Maria side. It’s visible without magnification & I’m a bit concerned that if I do get it graded it will end up with a terrible grade & devalue the coin. Obviously I can’t send it back to the dealer for a replacement as there aren’t any!

Question is for the experienced collectors who have had coins graded. How would something like this affect the grade of the coin & is it even worth sending it in to be graded?

I’m in a bit of a dilemma as to what I should do & hopefully I can get some good advice from you guys.

Much appreciated & thanks in advance!

sm2a.jpg

Posted

From what I know a nick this obvious would definitely not able to achieve a MS70 grade as in the grading process your coin will be examined under 5x magnification so realistically you are looking at a grade of 68 and below as I can see the would be no chance that graders would miss that (given that each coin goes through 3 graders). Then here comes the question if this is for your collection, would you want it in a TPG slab? or you are more than happy to keep it as it is as gold does not oxidise as easily as silver, you could expect the coin will stay in the condition as it is now. Since this coin only has a mintage of 100, I can foresee that the demand will be there but personally I wouldn't grade them as buyer it's quite difficult to swallow anything below a MS69 for a modern coin.

Omne aurum quod rex valūtās

Posted

Thanks for the responses guys. In your opinions how much can something like this take off the premium of a coin? Just trying to weigh up my options & see if it's worth selling this back to the dealer

Posted
Thanks for the responses guys. In your opinions how much can something like this take off the premium of a coin? Just trying to weigh up my options & see if it's worth selling this back to the dealer
Personally I wouldn't buy it with the nick considering its a high value modern coin. If I were in the market for 1 of these I would want a perfect coin to the eye or MS69/MS70.
Posted

There are, so far, only two graded Santa Marias: PCGS MS69 and NGC MS69. 

The coin is rubbing with the main sail on the front capsule; to me it seems that @BackyardBullion's coin might be OK in this respect but I would be thinking that these coins will all generally grade MS69 and yours should be no exception. 

Just mind that the gold rooster graded mostly MS69, too. So this is the standard grade for this coin, no sign of flaws. Mind, it is a BU and not a proof. 

Posted

Many more will be graded in the coming weeks... I sent them all in

Posted

I've seen you getting a few to send in on your YT videos. Would you recommend I hold off on this one or preserve it in a slab? Under no illusions it won't be getting a 70 or 69. Do you think it would hurt the premium massively if it came back with a 67 or 68?

Thanks!

Posted
12 minutes ago, Numistacker said:

Many more will be graded in the coming weeks... I sent them all in

I've seen you getting a few to send in on your YT videos. Would you recommend I hold off on this one or preserve it in a slab? Under no illusions it won't be getting a 70 or 69. Do you think it would hurt the premium massively if it came back with a 67 or 68?

Thanks!

Posted
I've seen you getting a few to send in on your YT videos. Would you recommend I hold off on this one or preserve it in a slab? Under no illusions it won't be getting a 70 or 69. Do you think it would hurt the premium massively if it came back with a 67 or 68?
Thanks!


It has a ding and that probably means 67-68 so I would sell it and get a perfect one if you want to grade it. Pay the difference and get a 69-70. Most BU coins will not grade 70 and I remember sending in 12 Silver Rooster proofs and all got 69.

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