15 to 20x premium toner

http://www.teletrade.com/coins/lot.asp?auction=3399&lot=3638#n

would you pay that ?

 

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Maybe, yeah. If 3600 was pocket change.

 

I love toning...and I kinda don't like that toning. Not a chance I'd even pay a decent percentage of 3600.

 

Nope........

 

The PCGS image of that coin looks a lot lighter. Overall, I do not care for the eye appeal all that much so there is no way I would have paid that level for the coin. Of course, other folks like the look and the price was driven accordingly.

 

I love nice toning but I don't like that one for even 50% premium , it looks artificial to me . But must be market acceptable or they wouldn't have slabbed it . Still there are plenty of AT coins in slabs .

 

The PCGS pics: http://www.pcgs.com/Cert/26362018/

Imo the PCGS pics are more realistic than the Teletrade ones. The TT pics look a lot more wild and unnatural. I think the toning's attractive, but I wouldn't have paid that much for the coin (I can see why someone did though). The later date Morgans usually are harder to find with monster toning. The '04-O is a bit of an exception though, a good number were found in the '60s Treasury release and original mint-bag toning isn't uncommon. Not to say monster toning is as common on the '04-O as it is on an early S mint coin, but it's certainly more common than most late dates. In the case of this coin though the toning is pretty extreme for the date so the high premium isn't that surprising.

 

I love it.....

 

I wonder how that coin got that toning. Doesn't look like bag toning to me, and I'm always suspicious of paying large multiples for any coin that I cannot explain/understand the toning.

 

The reverse looks like classic album/holder toning, but in those cases usually the obv and rev toning looks similar. The circular pattern of the obv toning with the lightest progression in the center is consistent with album toning also. The problem is the big difference between the obv vs. rev toning, and the fact that the obv colors are more inline with bag toning than album toning. Maybe the coin was in some type of holder where the obverse was in closer contact with impurities than the reverse. Something like the coin being in an album where the obverse is in contact with a page while the reverse was in contact with another coin/empty space.

 

No, I would not. I have some beautiful toned Morgans that are similarly attractive. And I have paid a fraction of that for them.

 

No. The toning is AT, and better morgans can be acquired at a lower price.

 

Definitely NOT AT. This is a common rainbow pattern on Morgans.

 

My question is how that slabbed MS-65+!!!! I mean a 65 should have a very clean cheek and there are some significant marks right in the middle of her cheek and to give it a "+"yikes!!! :/

 

I think a 65+ is within reason. Looks like there's a fair sized hit on the cheek (right in that purple/blue area), but that's about it. Fields are pretty clean too. And the strike is about average for a '04-O. The break in toning on the upper cheek wont have any effect on the technical grade. I think the big thing to take into account is the toning. Quoting PCGS "Amazing eye appeal can add up to a full point to the 'technical' grade" and "Positive eye appeal can add up to a half-point to the 'technical' grade". http://www.pcgs.com/eyeappeal.html

My guess is PCGS considered the eye appeal to be "Positive" at the very least. So without the toning it might be 64/65, but with it, it's in the 65/66 range.

 

I don't think that is a common rainbow pattern for a Morgan Dollar. It certainly isn't bag toning. It appears to be album toning but there is no toning correspondence from the obverse to reverse. If this coin toned in a typical album that used acetate slides, how did the obverse toning progress so much more than the reverse? Perhaps the coin was stored face down in a folder type holder. Mike (Raider34) has already made these observations, I just thought they were worth repeating.

The toning looks questionable to me despite the fact that it shows NT indicators, specifically the absence of toning creep. The toning does not continue to creep when it reaches an elevation change. Notice how the denticles and lettering are not toned and the toning at the edges of the devices is different than the fields. This is definitely a coin I would need to see in hand before paying such a premium. I always held the opinion that if there was something that bothered you about a rainbow toned Morgan Dollar, save your money and wait for the next one. While true monsters are rare, there are still enough out there that you don't need to compromise your standards ever. I do think that the date may have something to do with the price tag. Most monster toned Morgans are common date bag toners, not album toners like this example.

 

not enen if i had money to burn.

 

Word. I agree with you when the obverse would otherwise be a MS-64 with a nice clean reverse but the toning bumps it 1+ grade

 

Its an easy 65. Look at how clean the fields are. The ar minor hits on the cheek, but seriously its way better than a 63 or 64. And for a New Orleans, the strike is outstanding.