The Precious Metal Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Go down
dlnewlf
dlnewlf
Posts : 6
Join date : 2023-02-21
Age : 39
https://thebookofjuan.com

Milking on Newly Acquired Coins Empty Milking on Newly Acquired Coins

Wed Aug 09, 2023 10:12 pm
I recently purchased the following 1 oz silver coins from an online dealer:

  • 2023 Australian Kangaroo

  • 2023 Australian Koala

  • 2023 British Royal Mint Coronation

  • 2023 British Britannia King Charles Coronation

  • 2023 British Royal Arms

  • 2023 Chinese Panda


4 of the 6 coins arrived with milk spots on the obverse and reverse. Only the Koala and Panda (both which come in mint-sealed capsules) arrived in mint condition as advertised. I'm a bit disappointed because the coronation coins are limited mintage and the Kangaroo is the last Queen Elizabeth coin in that series. I've been collecting coins for about 14 months now and these are the first coins in my growing collection to have any kind of defects or milking. What are the ramifications of the milking on the coin value?

Admin likes this post

SilverTrader
SilverTrader
Sponsor
Posts : 135
Join date : 2021-05-18
Location : Newcastle upon Tyne
https://www.silvertrader.uk/

Milking on Newly Acquired Coins Empty Re: Milking on Newly Acquired Coins

Wed Aug 09, 2023 11:06 pm
HI DineWfl,
It does not change the amount based on the silver price which when it comes to standard bullion coins is what dealers would be working off when you come to sell
but obviously collectors or normal people who might buy them might not offer as much
Sadly  its normal nowadays for the coins to be milking up expecially from the royal mint
I was pleasantly surprised about the quality of the charles coronation & coronation britannia's it was much better than the usual terrible quality of the royal coat of arms for example but they are still milking up as quickly as you look at them
the australian kangaroo also has milking issues but not anywhere near as bad
basically when you come to sell to a dealer they will look at the silver price and make an offer based off that regardless
ps that order was not from me was it ?  Milking on Newly Acquired Coins 1f601 Milking on Newly Acquired Coins 1f616

Admin and Rod Panhard like this post

dlnewlf
dlnewlf
Posts : 6
Join date : 2023-02-21
Age : 39
https://thebookofjuan.com

Milking on Newly Acquired Coins Empty Re: Milking on Newly Acquired Coins

Wed Aug 09, 2023 11:32 pm
SilverTrader wrote:HI DineWfl,
It does not change the amount based on the silver price which when it comes to standard bullion coins is what dealers would be working off when you come to sell
but obviously collectors or normal people who might buy them might not offer as much
Sadly  its normal nowadays for the coins to be milking up expecially from the royal mint
I was pleasantly surprised about the quality of the charles coronation & coronation britannia's it was much better than the usual terrible quality of the royal coat of arms for example but they are still milking up as quickly as you look at them
the australian kangaroo also has milking issues but not anywhere near as bad
basically when you come to sell to a dealer they will look at the silver price and make an offer based off that regardless
ps that order was not from me was it ?  Milking on Newly Acquired Coins 1f601 Milking on Newly Acquired Coins 1f616

Thanks for this. I was feeling a little deflated because of the milk spots. I purchased from a well-regarded American dealer. Seems like it just may be the Royal Mint and the Aussie Kangaroo being troublesome rather than dealer shenanigans.

Admin and Rod Panhard like this post

Admin
Admin
Admin
Posts : 3171
Join date : 2021-05-08
Location : England UK
https://www.thepreciousmetalforum.com

Milking on Newly Acquired Coins Empty Re: Milking on Newly Acquired Coins

Thu Aug 10, 2023 8:17 am
dlnewlf wrote:
SilverTrader wrote:HI DineWfl,
It does not change the amount based on the silver price which when it comes to standard bullion coins is what dealers would be working off when you come to sell
but obviously collectors or normal people who might buy them might not offer as much
Sadly  its normal nowadays for the coins to be milking up expecially from the royal mint
I was pleasantly surprised about the quality of the charles coronation & coronation britannia's it was much better than the usual terrible quality of the royal coat of arms for example but they are still milking up as quickly as you look at them
the australian kangaroo also has milking issues but not anywhere near as bad
basically when you come to sell to a dealer they will look at the silver price and make an offer based off that regardless
ps that order was not from me was it ?  Milking on Newly Acquired Coins 1f601 Milking on Newly Acquired Coins 1f616

Thanks for this. I was feeling a little deflated because of the milk spots. I purchased from a well-regarded American dealer. Seems like it just may be the Royal Mint and the Aussie Kangaroo being troublesome rather than dealer shenanigans.


I warn people all the time in my videos about Milk spotting and other problems.
see the video section, you can find my Youtube link there if you have not already.

But Milking really Peeves me off!!!!!! I have melted more royal mint products and Canadian and Australian ... than I care to think about.. at least it is art at the end of the day LOL

I am sorry though that your having this issue. I do know as a collector how frustrating it is.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum