Does cleaning bullion silver coins degrade their value?
I was curious to know if cleaning bullion silver such as the American Eagle and Canadian silver dollars lowers the value of the coins. I know on other older coins cleaning them drops their value considerably.
Thank you.
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It does. You would think that nobody would care, because bullion is bullion. But the fact is that bullion coins like the Eagles and Maple Leafs sell for a slight to large premium over spot market prices, depending on the year. For example, the 1996 Eagles saw the lowest production of any year in the series, just 3.6 million bullion coins (non-proof), compared to over 30 million in 2009 and 20 million in 2008. Cleaning a 1996 turns it into a coin that a collector won’t want, and a bullion investor will pay no premium at all for, in fact, offer below spot for.
It does if you plan on trying to sell them for more than their bullion value.