Dark spots on a 1939 Proof Walking Liberty half dollar

I'm trying to buy a 1939 Proof Walking Liberty half dollar. On EBay, I saw this coin. On the obverse, what is the black spot on the "E" and "R" of "LIBERTY"? Is it common for proof coins minted at that time to show these dark spots? Do these dark spots significantly affect the value of the coin? Or is this normal?

Attached are photos of this coin from the listing/

 

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It looks like tarnish. Splotchy toning like this affects eye appeal, but I don’t think it affects grade (would like to be corrected by the more knowledgeable members here if I’m wrong on this). I’d pass on it and wait for one with better eye appeal. PCGS alone has graded 829 of these in PR66.

 

I agree and I believe it also should look nicer in this grade . I pass .

 

There is no way that that coin grades PR-66. If anything it should be a "no grade" for environmental damage.

 

the appearance, and I don't know if it's true or not, is that it was dipped to remove bad toning, and they didn't get it all, and then sent it for grading,

My opinion it's a dog. it may be worthy of a crackout, and conservation if the price is right and still look good as a MS66. but you should look to getting it at a price that factors in those costs to straighten it out. I wouldn't do it myself though, I'd let PCGS correct it and conserve it, BUT that also might be as much as they are willing to do on it already and the rim toning is covering something less appealing that black spots.

Just another opinion of course. I think it could go low and might be a good candidate to do what I suggest, but it will depend on the price closer to the end of the auction if it's worth it, I don't think it bumps up to 67 if it's conserved though. but I think if you can get it at around Proof 63-64 money, it might be worth it overall, clearly those toning spots are too dark to leave it like that. the stuff on the rim edge is the most concerning. So if the price is right.... it's worth you keeping an eye on it.

 

i would pass on this also not eye appealing at all.

 

To each his own BUT to me those are two very ugly spots that totally detract from the beauty of the coin.
Semper Fi

 

Could that possibly be a fake PCGS slab? I too would not even consider buying it.

 

That coin does not look like it's been dipped. It has the usual haze that these silver coins get from storage in the original cellophane sleeves. Here is an example of an original surface Proof from that era. This piece "went bad" because it was exposed to the air in some spots or perhaps it was in contact with tissue paper that had sulfur in it. This piece is graded NGC PR-67.

 

I don't have the piece in hand, but my first inclination....because of position of the spots....is this piece was held by metal tongs while being enhanced.

 

The spots might have occurred after it was slabbed. Just a thought.

 

Yes, I agree. But the catalyst event for the spots future appearance was prior to encapsulation. It takes time for the change in oxidation/chemical reaction.

 

That's possible, but the coin does not look like it's been dipped. Or if it was dipped, it was done a long time ago. Those spots look like ares that were not rinsed properly after a dip, but the rest the coin the usual 1930s and '40s Proof haze.

 

Yuck. Environmental damage in my book. Hard pass.

 

The PR-66 grade should have you "OOing" and "AHing" when you see the coin. "Yuck!" should not be in the discussion.

 

That is a coin no collector will pay proof 66 money for. It's possible it showed up after it was slabbed but, I'm going to say NO. With sitting in an edge view slab I think the coin had a problem before it was place in it's slab. In my opinion I would knock the grade down to proof 63 or 64 but, I'm very picky when it come to coins being grade proof 65 or higher. The coin is being sold on EBAY with the hope someone will buy it but, there are a lot nicer Walker's available.

 

Crap. Right. Now I'm going to have to sit in the corner at the next TPG luncheon without any dessert, if I even get to go at all.

 

Thank you everyone for your opinions!

Just curious, where do you buy coins on the internet? I mainly use ebay. I tried Heritage once and Great collections once

 

Wow...overall the most beautiful I've ever seen...!