Questions about this Rainbow toned Morgan

I absolutely love this Morgan. The tone is beautiful. I would love to add it to my collection, but the seller and I are way far apart on price. My greysheet says 88. I know this is way low... Obviously it is an old PCGS slab, and has beautiful toning, but how much would this increase the value? I just have no idea on this one. The seller wants close to 600!! What are you thoughts on this coin? I love it! But how much money would you be willing to shell out? I am sorry that this thread is not in the "what it's worth," but I thought I'd find more Morgan experts in this collumn. Much appreciated.

 

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PCGS values this one at $98.

I wouldn't be upset paying $125 because I love the tone pattern on the obverse.

 

The 1885-0 has a mintage around 9 million, making it pretty average or a little more common than average as far as Morgans go. That said, it is a beautiful coin with great toning. If it was me I'd go maybe 2 times the listed value for a nicely toned coin, but if this is one of those "I gotta have it" coins then I'd go a bit more, maybe 3x. I think 600 is way too high though. But you're the one that has to decide...maybe shell out a bit more on this one and pass on another coin you were thinking about buying.

 

But either way, they've gotta come down. Theres no way this goes for 600 at auction (ebay, teletrade, etc). For 600 you're talking about 66 with nice toning for this date in my opinion.

 

The Seller is asking an outrageous amount. I like the old PCGS slabs, but for this coin ( which will not upgraded ) I'd pass at approaching anything close to what the seller is demanding.

 

It is not unheard of for Nice Rainbow toned Morgans to sell for 10+ times book value. Determining what is attractive to the serious toned collectors can be financially hazardous. If you like it for you, pay what you think it's worth. If you are hoping to sell it, don't be surprised if you lose money. Nice coin by the way.
Look up past threads by Lehigh96 and Kryptonitecomics, and you may get an idea more about toning premiums.
This is a good one
The toning premium thread

 

At 600, the seller is :goofer::goofer::goofer: and will be holding on to that coin for a while.
That said, I would pay up to 2x the gs value. Keep in mind, not everyone likes toning so when you sell, only a fan of toned coins will pay you a premium.

 

wow.. way too high. I'd go 100'ish, maybe 125. Heck, it's a woody ! Those are suppose to be at discount ; )

 

Well, just my quick thoughts. He's obviously trying to trade off the color coupled with the fact that PCGS had already opined on the coin, meaning, the likelihood some crackpot over there on a crack-out might later come along and call that color "AT," is pretty darn remote. To a registry-set collector mentality, the latter is a strong selling point. To me, it's but hogwash. I like the color. I like candy bars, too, but I'd never pay $600 for one.

My advice would be, premium-up the coin a few dollars for the color, and offer him something for that, over and above the PCGS retail on the coin (consult their retail price guide on that). The coin looks to be every bit a strong technical MS64. Personally, FWIW, I never go too crazy on these color premiums. That, however, is something only you can decide.

 

Yeah, In the grand scheme of things that's relatively average rainbow toning on a Morgan.

 

Ive had to ask this question many times. It is ultimately why ive drifted away from collecting these. It is definitely beautiful. But sellers have gotten way too greedy. Before youre willing to pay for anything, you should ask yourself what you think you would be able to sell it for yourself. Whether it be immediately or 20 years from now.

 

Asking and getting are two different things.
If seller wants $600 for a coin worth no more than $125, he'll be holding on to it for quite some time.

 

Geezer, I like your Latin signature line (kind of sums things up quite nicely). :smile

 

Toned Morgan dollars.
to there right buyer date mint mark place & toning they can sell 1K-100k time & Place #1,
but most sell @$100<->500.00.
*:devil:*Inherited Coin& Dealers want to look 1st at any graded&toned coin Morgans being 1 of the top 2,Gold coin maybe 1st.
IMHO:devil:.

 

In a way, it's a good thing this one appears to be accurately graded because if someone thought to crack it and reesubmit for a bump, I wouldn't be surprised if it came back AT given the climate today.

While the toned market has gotten very popular, particularly over the last decade, you won't find too many collectors willing to pay the high premiums unless they are true toner fanatics. I would think that some wouldn't hesitate to pay 5x-7x CDN, and if two or more were competing in an auction format, there is no telling how high it could go.

Chris

 

:thumb: I agree!!
but fools do march in and pay crazy money to have what they thing is the best toner for there constipation set!
this link below is why at times.:kewl:
www.collectors-society.com

 

Thank you very much for the information guys. I believe he was selling on the fact that this might pass as an MS-65 in todays grading environment. Since I know nothing about the toning market I'm going to pass on this one.

 

I am guessing this would sell for somewhere between $200 and $300 for the nice toning (JMHO) ... $600 is way too high

If you like toning, 1885-O is a very common toner date ... so you can hold out for another coin which is sure to come your way and it will save you a few bucks.

 

Exacly, if it's a local dealer that you can frequently visit, pass on the deal. Keep checking on the coin every time you make a visit, in another 4-6 months, make a note to the dealer and tell him whatever your willing to pay for it still stands! He's likely to budge sooner or later as long as it's sitting there, making him zero money.

As for me, I'm not a rainbow toner collector. I actually think it makes coins look ugly. I'm not even sure I'd even or ever buy that coin, maybe if it wasn't toned.