PVC Warning!
Dear fellow enthusiasts, you may find it unusual to receive a new issue of our newsletter without a show taking place but this one is a warning call to all coin collectors and investors.
One of the best newsletters I ever contributed to was the Rosen Numismatic Advisory by Maurice Rosen. He had a saying about “ticking time bombs” in certified coin holders. His reference was more about altered surface coins that had been certified. My warning is similar. It’s about coins in certified holders that were previously stored in soft polyvinyl flips known in the industry as P.V.C. flips.
P.V.C. leeches out from the flips onto the surface of the coin as the plastic breaks down over time. The effects will be unnoticeable for varied lengths of time, sometimes months to years. Once the breakdown of the plastic has begun, you will notice a light haze or film that P.V.C. imparts on a coin’s surface. The only thing for sure is that this film will only continue to build over time. Never feel that you can put your coins away and forget about it. It will get worse as time marches on. The light haze may go from blue grey or whitish color to gold or green. At the green stage, it can actually eat into the surface of the coin and can not be removed. Many old holder coins exhibit P.V.C. contamination. For those who do not know what P.V.C. looks like I compare it to American Silver Eagles which are notorious for having whitish spots or “haze” on their surfaces. The beginning stages P.V.C. look similar to the silver eagle spots or haze.
Most dealers and collectors don’t even know what it is and many dealers that recognize it on the surface of a coin don’t care. They only want the coin sold and money in their pocket. Even if a dealer wants to do the right thing and have the P.V.C. removed it can sometimes be prohibitively expensive relative to the coin’s value to have removed by the grading services. We have even seen recently graded coins with light P.V.C. The collector or investor that puts these coins away maybe significantly impacted when it comes time to liquidate their coins. Liquidation time is not a good time to find out you have compromised coins.
I recently examined a large collection of small blue holder PCGS coins. I’d say 80%-90% were grossly affected by P.V.C. Again, I emphasize that it will do one thing, it will get worse over time! Some collectors only buy old holders. They may not know or recognize what P.V.C. is. As time goes on, you do not want to learn the hard way.
CAC will not certify or sticker a coin with P.V.C. Other grading companies will holder a coin with light P.V.C. Sometimes, P.V.C. will not be visible when a coin is graded but will show after a period of time in the holder. I’ve had dealers and collectors ask me why a coin did not receive a CAC sticker and many times it is from underlying P.V.C. that they had no idea was on the surface. My recommendation is to examine your coin collection every six months. Watch for a haze or discoloration on the surface or within the devices of the coin. If you see it and are not sure about it, show it to a competent dealer. Learn what it is, what it looks like. This could become a real problem in the future.
NGC and PCGS do offer a restoration service for a healthy fee. If you have a nicely toned coin, it may be subject to being dipped to remove the P.V.C. Guess what, there goes the character of your coin. If the surface has been etched by the P.V.C., dipping will not work. Try to learn to recognize P.V.C. on a coin. I returned to the office from a small show and two old small blue holder coins were purchased in my absence. Both had P.V.C. on them.
While on my way back from a trip to Florida, I was reading the June 30, 2025 issue of Coin World. On page 15 under “Readers Ask” the title is; “Is there any rescue from “green death?” There is a picture of an 1874 Trade Dollar with the most obvious P.V.C. damage you will probably ever see. If you are not sure about P.V.C., read this small article, reprinted below with permission of Coin World. It will take a long time for the P.V.C. to build to the point of the damage inflicted on the Trade Dollar in the article but it will build and damage could be the result. Look at the last two paragraphs, they mention restoring the piece by using acetone, olive oil, mineral oil and tooth picks!
When purchasing coins just purchase a coin that doesn’t have P.V.C. Be aware, it’s hard to see at first so get in the habit of reviewing your coins every six months. Always remember, P.V.C. will only get worse. Many excellent numismatists be they collectors or dealers have no clue. If you have any questions or concerns, feel free to contact me at your convenience.
