What would you offer?

I came across one of the nicest 78 CC Morgans I've ever seen on while trolling on EBay.
It's an MS-66 with monster toning. Just an absolute stunner, and a CC to boot, check out the link:

http://cgi.ebay.com/1878-CC-MORGAN-SILVER-DOLLAR-NGC-MS-66-MONSTER-TONING-/160498243820?pt=Coins_US_Individual&hash=item255e70d8ec

I think his Buy it Now asking price is a little steep at $4700.00. There are a lot of toned morgan afficionados on this forum. And I know many are willing to pay the premium for attractively toned coins.

I'm interested, what do you think is a fair offer for this coin?

 

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19.95 it's probably a fake.

 

That is one AWESOME looking coin. I say the most I would pay is about $4000, not a cent higher.

 

Why do you believe it's a fake Fifty?

 

To me that is not monster toning.... it's nice.... but not monster IMO. I think a large toning premium is not really warranted for this coin.

 

It might not look as good on hand, or it would received star.

 

$2,800-$3000 maybe.....
Depends on if I were lusting for anything else.

 

Agreed. I believe this coin is under intense lighting and would look completely different in hand. Most likely much darker with the toning not nearly as vivid. I've experienced this first hand.
For this much money, it shouldn't be a lot to ask to have several pics under varied lighting, including normal day light. But they never want to do that for you. It does look awesome in the pic though.

FWIW, if you're considering making an offer.... I don't know what a MS-66 books at but I've offered 50% of seller's asking prices before and it's been accepted more than once. If you're offer gets accepted immediately, you'll wish you would have went lower. I'd start low. Don't think 5-10% range is a lot. You don't know how long ago they could have purchased the coin. The worst they can do is decline it.
I've never seen somebody get offended, but have had a few tell me they had more than my offer in it themselves.


Edit: NGC lists a 1878-CC in MS-66 at 4220 right now. With the toning considered, I doubt he'll sell it for less than 4.

 

Great looking Morgan but I would be leery to spend that kind of money or even half that on a toner that I can't hold first!!

 

I agree that this toning is not monster toning for a typical common date Morgan Dollar. But try to find a monster toned 1878-CC Morgan. I would call the asking price very optimistic but I believe this coin does deserve a premium compared to other untoned 1878-CC's. After all, look what a real monster toned 1878-CC MS65* would sell for:

1878-CC Monster Toned Morgan Dollar NGC MS65*

I think $3,500-$3750 is a more realistic price range for this coin.

 

I'm not an aficionado, just a fan and find it to be a very attractive coin. Here's an NGC MS 66* for comparison; the coin went for $4,600. http://coins.ha.com/common/view_item.php?Sale_No=1143&Lot_No=5214

 

Great inputs everyone. I really appreciate your thoughts and advice. Thanks.

 

CDN Bid is $5100.

 

I know too many fellow collectors who have been screwed by Chinese fakes. There are even reports of slabbed fakes. I know a guy who submitted a slabbed coin from NGC to PCGS for a regrade and it came back fake.

 

In response to your three comments:
It happens.
It happens.
It happens.

So how do you buy your coins?
What's your criteria?
What would be necessary for you to know that this coin is real?

I see you paralyzing yourself with fear of a fake.
Are you going to stop collecting?
That's the only sure way of protecting yourself from getting a fake.

 

If you really like no more than 4K

 

Buyer beware!! Proceed with caution!!

 

First I would estimate my asking price: CDN Bid is $5000 (his asking price is below wholesale). I would hope retail this coin around $6750 (in line with industry markups) but push it up to $7500 or hopefully higher due to the attractive toning. But with this horrible recession this may be pie in the sky.

I would be a buyer around $3000 - $4500 depending on how much I wanted it for inventory (or how quickly I could move it) like if I had a buyer lined up. This is a big ticket coin and I don't like having a logjam of these in inventory, especially in this recession.

Considering how Cheap A they have been on the Bay lately, he may have to lower the price to attract bidders. Based on my current analysis many coins are doing good to even realize 90% of CDN Bid. While I have had good luck with good retail buyers on the Bay, I sometimes think these guys are scarcer than the coins! With the low ball offers I have seen on the Bay lately I would be skittish of buying this coin for more than say $3000. I am a dealer, not an investor collector so any buying I do nowadays is for flipping it instantly at a profit. I have all the inventory I need to fill up my shop or cases at a show.

 

Toning is nice, but not remarkable, nor the type to pay the big bucks for. It's a bit "light" and not "neon enough" to fetch the big bucks.

Secondly, the photographs are overexposed meaning the color will not be as vivid in hand.

Not a bad coin, and beauty is in the eye of the beholder, but if it were my money on this coin, I would bid not much more than 66 money for the coin.

All IMO, of course.

 

Is that really a monster? Nicer than the coin posted by the OP, to be sure, but I don't think Sunnywood when I see that coin. Am I wrong?