So lately I've been on the hunt for beautiful toners but I've noticed that there is no set standard on how much of a premium certain toning adds as opposed to other toning. For example, a rainbow toned coin might fetch more of a premium as opposed to a golden-brown toned coin but how much more? As far as I know there is no set amount that will give you a ballpark estimate on how much you should be expected to pay. So I ask you, how much more of a premium do you pay for a noticeably nicely toned coin? and how do you determine this price? -theSharpGun Oh also, Happy Holidays and Happy New Year!!! Cool I just realized that this is my 100th post, finally!!
I am not making fun of your question, but the honest answer is that this decision is on a coin-by-coin basis for me.
Well clearly, as is for every and any coin, but, that's not what I mean. Let me sort of rephrase the question a bit then. Do you have something like a price guide of sorts that you use to determine the price of toned coins? It really doesn't matter whether it is one you made for yourself or one that a third-party has created. Basically what do you use to decide how much more you are willing to pay for certain toning.
There is no set standard or price guide for toners, and if you're searching eBay auctions, a winning bid can often depend on how many bidders are chasing the same coin. For example, a couple years ago, I spotted a nice 83-CC toner in an NGC MS65. I thought it might sell for $1,000, but it ended up selling for $1200 with numerous bidders. About two weeks later, the same seller listed another 83-CC toner in an NGC MS65, so I decided to place a bid of $1250. I ended up winning it for $511. Go figure! Chris
You really can't determine the premium of a toned coin. There are many factors such as colors, and toning patterns that appeal to people. Also sometimes an auction may end up finishing at a certain price due to the respectability of the seller and what time the auction ends. But, this is how I determine the price of a toned coin. Its worth at least the price of a regular untoned coin. Then I factor in the eye appeal and look for similar coins that has ended. I usually tack on an extra ten to twenty percent especially since I know I'm going for a graded example. I'm not buying any raw toned coins on ebay.
Like Chris said there's no set price list . I go by how much I like the coin and how much I'm willing to pay . So bid what you're comfortable with and if you win you win .
If I get a nice toner, it is simply because I found a coin that I liked for the price. I don't (usually) pay a premium because a coin is toned, simply because they should be toned. If an early coin is not toned in some degree, the coin has been cleaned, or dipped if you will. I think that we all forgot why toners became so popular. At one time, blast white coins were what everybody wanted. But one day, somebody decided that cleaned coins were worth less than an untouched coin so toned coins became very collectable. It is really no question if toned coins are beautiful, of corse they are. But I collect coins for what I consider a permanent family collection and I want my coins to be looking good for many generations, not just pretty today. I have to admit though, if I were a reseller, I would highly value a nicely loned inventory.
There is no set price for a toned premium on coins, basically, if you like it, figure out how much you want to buy/sell it for, then work it out with the buyer or seller. If it doesn't work out, either you priced a bit high, or offered too low.
Thanks for the all the responses guys. The reason I ask is because recently I have bought several BU Roosevelts as well as some other nice coins that are quite nicely toned. I won 4 auctions without any competition and I believe I paid a good price for them but I won't know until I see them in hand I guess. I'll post these coins soon and hopefully you will think that I did alright for the price I paid. Thanks again, Happy Holidays, and a Happy New Year! -theSharpGun
I wrote a thread about this subject shortly after joining this forum. http://www.cointalk.com/t39837/ I also started a thread to try and show some anecdotal examples. http://www.cointalk.com/t135678/ In my years of buying and selling toned coins, I have found the process of pricing rainbow toned coins to be multi-faceted. First, you must be able to properly evaluate the quality of the toning on the coin. A small crescent of rainbow toning may drive a small premium (1-2X guide) whereas an obverse toner (100%) with monster colors can drive a huge premium of (10X+ guide). Once you have evaluated the toning, it is extremely important to constantly follow auction results of toned coins in order to understand how big of a premium each type of toning will bring in the market. Keep in mind that when you talk about toning premiums, your goal is to define a price range, not a specific price. If you can begin to predict the range that a toned coin will achieve in an auction setting on a consistent basis, then you are ready to enter the toned coin market. It is also important to understand that the first step in this process, the evaluation process, is highly subjective and will change from person to person. Your goal is not to judge the coin based on your evaluation of the toning, rather, you are trying to predict how the numismatic community will view the toning. It is very possible to overestimate the quality of toning if you use your own perception. What might be a 10X premium toner to you may only be a 5-7X toner to everyone else.
I'll add more information to Lehigh's post that will show real-world analysis. I have found that the premium will also depend largely upon the series of coin, the grade, the untoned (or generic) price of the issue and if the toning is typically found on the series in question. For example, nicely toned silver Roosevelt dimes aren't difficult to find as many coins stored in Dansco, Wayte Raymond or Whitman folders toned quite nicely over the years as well as the many thousands of coins that toned nicely from original US Mint Setes of the 1947-1958 era. Therefore, the absolute premium for these coins is generally on the lower side. A similar case holds for classic silver commemorative half dollars or Morgan dollars. On the other hand, wonderfully toned Seated Liberty half dollars or Barber half dollars are far more scarce and can attract a bit of interest because of the unusual nature of finding these with wonderful toning. Then the grade will come into play since many folks will stay away from a marked-up MS60/61 coin while be willing to aggressively pursue an MS64+ coin with the same toning pattern. Additionally, the baseline price of the issue will largely help determine how large the percentage of a premium is attached to a toned coin. In the Roosevelt dime example, nearly all silver Roosevelt dimes are fairly inexpensive and this means that even a few dollar premium can equate to a large percentage premium even if it is a small absolute premium. In contrast, a gem Seated Liberty half dollar costs significantly more and, even if the premium is larger on an absolute basis, it will likely be smaller on a relative basis.
