rainbow Morgans... Are they worth it?

I have bought a few rainbow toned Morgan Dollars, and I wonder are they really worth the extra price. They are graded as MS-63, or MS-64, and should be only worth the book price that can be looked up, but are they really worth the extra money they command. This falls under the "subjective", that means it is subjective... you decide. To me, I have and will pay for this "subjective" toning. One dealer told me that...eh some people like it toned and others don't.
To me the toning sometimes makes the coin, but is it worth the price?

 

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depends on how great the color is. I collect toned coins as well as my other coin pursuits. It's subjective. I think the toning gives a coin character. a lot of other collectors call it damage. does not hurt to have some nice toned coins in your own collection.

 

I sold most of my white Morgans when I saw my first rainbow Morgan... I wouldn't pay a huge premium but I do pay more for nicely toned coins. Just make sure the coins are worth it.

 

Rainbow toning drives a premium price on Morgan Dollars and every other type of coin as well. People will always pay for exceptional eye appeal. I have seen Morgan Dollars sell for over 25X price guide and have personally paid over 10X price guide on occasion. Last week I was experimenting with my iPhone6 camera and snapped a photo of my Battle Creek "Pink Eye" Dollar.



And yes, I paid a huge premium for that coin.

 

I'm "old school" and rainbow toners have never caught my interest.
So I wouldn't be buying such a coin if I can't get it at catalog.

But I have one exception -- Jefferson nickels.
I find the pastel toning on them quite appealing, even the brown.

 

I just paid $900 for a morgan with a book value of $60. I thought it was a good deal. I dont want any coins in my collection that can be had at book value.

 

As you stated it is a personal choice. I will agree with Lehigh as eye appeal coins can and do in some cases carry a premium . As for myself I always ask my self is the premium worth it? Well if it's a coin that I plan to keep for my personal collection I may go over book . If it's a coin that is borderline meaning it may be flipped I hold back as what is pleasing to one is ugly to another.
I find the same thing with varieties some people like myself love them ,others could care less.
As Lehigh coin posted has a pedigree that makes a big difference in price. But again subjective to the buyer wants and needs.
When I walk show I must admit eye appeal is everything be it a toned coin or blast white nicely struck coin.

 

It's subjective for sure. I own this colorful Morgan. These are difficult to value. Some will pay well over guide and some won't.

 

I think it's a lot like choosing Art. Do you like landscapes, stills, cubism, renaissance, realism, impressionism, portraits, moderns, etc...

I don't think you can place a value on them. I think auction prices are purely determined at moments in time. Do you have two bidders willing to pay whatever it takes to add the coin to their collection? If yes, the premiums are off the charts. Stack's recently had some great toned collections (Simpson) up for auction and the premiums where very high.

There are also different levels of toning. I think subtle, yet colorful toning can be quite nice and affordable, whereas monster (vibrant, rainbow) typically sells at huge premiums. And those premiums are determined by how deep the pockets are of the bidders at the time of sale.

 

As long as you like rainbow toning, they are worth every penny. If the coin will put a smile on your face every time you look at it - it is money well spent.

Personally, if I was gonna buy a 5k Morgan, I would rather have a monster toner instead of a key date or a whole pile of white coins.

 

Some are, some aren't. Most aren't worth the ridiculous prices some pay, but many are worth a small bit more.

 

Well, "worth" is determined by what the market will bear. Since these premiums are actually paid by people, that pretty much, by definition, implies they are "worth it."

As for what you want to have in your collection, I can't say. I like a nicely toned piece, but my favorite toning pattern is an even golden color. Rainbow really doesn't do it for me as much. So, while I can imagine a rainbow toned coin that would be "worth it" to me to pay significantly over book, not all of them will do it for me.

 

One of the great things about collecting coins is that you don't have to buy coins that you either do not like or where you do not agree with the price.

 

Toners are not worth the money to me, but that's just me. I have a hard time paying extra for corrosion. That is not to say that I don't find some toned coins simply beautiful, but the premiums outweigh the beauity for me.

This is one of those classic, if you like it, that's all that matters kind of things.

 

OK here it is plain and simple. COLLECT WHAT YOU LIKE!!! =) I just happen to LOVE toned Morgans and am willing to pay a premium over the book value as eye appeal is a VERY big factor when I choose coins. I lived in Hawaii for 3 years back when I was a combat medic in the Army and for some reason the salt water in the air gave me some beautiful looking coins. Look at my picture of the MS-67 Toner!!!! I have 2 complete albums that were all Frost White and after 3 years they all looked like what you see as my pic. I will NEVER let them go...as for me they are priceless. Sometimes I pull them out and just look at them and smile. That is what coin collecting is all about for me. Thanks for allowing me to share.

MJH

 

Absolutely STUNNING!!!! Great find

 

My friend it was well worth it...trust me well worth it.

 

Now here are pictures of what I consider a nicely toned coin - I hope my photo shooting skills have improved a bit...

 

How long before the toning that you like (and bought) changes to toning that you no longer like (and presumably will want to sell)?

 

Never. Not as long as the coin is stored away from anything that will tone it.