why are rainbow toned coins more valuable

This statement is absolutely true.

 

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And, as a result, the coin doctors will attempt to artificially create the effect and reap the rewards accordingly.

 

The original purpose for artificially toning a coin was to hide surface imperfections from the graders in order to achieve a higher grade. Many coins are conditional rarities where a one grade jump can result in a lot of money. Then the toning revolution hit and collectors began paying huge premiums for rainbow toned coins. This caused the coin doctors to attempt to achieve what takes nature decades to accomplish. Bob Campbell, who is considered one of the leading experts with regards to toning called this type 2 artificial toning.

Fortunately, there are very few coin doctors with the skill required to pull this off consistently. Most of the artificial coins you see on the market are obvious and the attempt is usually done on an otherwise common low to mid grade coin. For example, an MS63 1881-S Morgan Dollar is a prime candidate for a coin doctor. He can't ever drive the price below melt value and the upside could be 5X-10X-15X his cost.

The best way to avoid the AT coin is to only buy toned coins that are graded by either PCGS and NGC. Having said that, you should also be aware that there are artificially toned coins in these holders. The TPG's policy is to grade coins that they deem marketplace acceptable. In the toning world, there are obvious NT, obvious AT, and coins that are in the middle. For the last group, the TPG's have to make a determination whether or not the toning is acceptable in the current market. Unfortunately, this allows some very good AT coins to get through. The key is that even the foremost experts can't say with any certainty that the coin is NT or AT. I consider these coins to be QT (questionably toned). For example, who can tell me which coins in my NGC Registry set of Jefferson Nickels were once considered marketplace acceptable but now are considered QT and would bodybag if submitted today. If you are really good, tell me why (Doug, please don't answer).






I am a big proponent of any toning that greatly enhances the eye appeal of the coin. I will proudly buy an AT coin if I think it is beautiful. My only reserve is that AT coins are considered to be an evil within the hobby. The stigma attached seems to be undeniably permanent and I fear that this passion to avoid AT coins at all costs leaves many collectors in perpetual fear of toned coins thereby decreasing the demand for such coins.

 

A bit off topic, but how come this coin has a star? I really don't think it deserves it. It's nice, but it's not that nice.
Is it because it's frosty and toned?

Maybe you can give us insight into NGC's Star System too? (since a number of toners get stars, which also increases the price).

 

Oh don't get me started about the NGC star designation. They are extremely inconsistent. In order to achieve the star designation, every grader that sees the coin must agree that the designation is deserved. This leads to many coins deserving of the designation getting snubbed. However, it goes a long way to ensure that almost every coin with the star designation deserves it. There are exceptions of course, however, I don't believe this coin is one of them. The beauty of this coin can't be appreciated through a photograph. This coin came from a bag of 1880-S Morgans which all had semi-prooflike fields, frosted devices, and many with rainbow toning. They sold on E-bay a few years ago and I bought up the MS66*'s (I own four of them). There were at least 20-25 similar coins graded MS65 and MS64. Here is a closeup of this particular coin's obverse.



The toning is not extravagant, but the overall eye appeal of the coin is fantastic. In summary, I believe the decision to star this coin was less related to the toning that it was the luster, frosted devices, and overall appearance. Just to give you an idea, here is one of the other ones from the same bag and same NGC submission.



Now this one was fortunate to get the MS66 grade IMO and the toning is certainly the reason for that.

 

Lehigh, what pretty coins you have...
I'll will be in envy forever! LOL
You have very nice coins, and there is drool everywhere over here, trust me! LOL
I love looking at your gallery here, and your sets at the NGC registry!

 

Alright, thanks Lehigh, I suppose I would have to see the coin in hand.

I have seen a few toned coins with stars that are marvelous and I think certainly deserve them.
Other times I see stars on coins and I think "hmm... I don't see it."

 

I have a thought that occurs to me often. Most collectors brag about the deal they got when they buy a coin. I can't count the number of times a collector says "I got it for less than wholesale." I take pride in the fact that almost every coin I own, I purchased at a premium. On an individual basis, each coin I buy may or may not be a good deal. But when others view my collection, it confirms what I knew all along. There is no substitute for eye appeal, and coins with superb eye appeal are never in the bargain bin. This is not to say that blast white coins can't have eye appeal. I own some white coins, but they also have incredible eye appeal. Here is an IKE for example.



Oh, who am I kidding. There ain't nothing like a rainbow toned beauty. Check out this bad boy (girl?).

 

Gosh that ike looks more like a brand new MS70!!!
That is amazing!
And it wouldn't be a "Lehigh Post" without a toner!

 

"why are rainbow toned coins more valuable"

Because people are willing to spend more on them. Pricing on coins is 95% demand-based.

 

I'll admit it...I was once a toner hater. But now I find it a challenge to aquire toned examples with different patterns and colors. I've only been doing this in my type set, and I have to say, it's making for a really spectacular looking set so far. Do I pay more on average for a toner? Of course I do. But, have I seen two coins tone the same way, nope, never. Thats what makes me pay more, I guess.
Guy~

 

I personally like Morgans that have spent some time in an album and have developed golden color on the perimeter. The coin in this photo is more brown & tan than gold. It is not the best example but it is the only photo on my office computer.

Very best regards,
collect89

 

Choose the best response :

a) right on
b) right on
c) right on
d) all of the above
​

 

Those two statements, taken together, explain everything.

 

I am very happy this thread is here. I was able to learn that ebay is full of AT coins. I was bidding on a Walking Liberty 1946 toned recently. I clicked on the seller's other items and was surprised to see how many toned coins they had. Obviously running a toning shop. Maybe I'll buy a common Morgan and tone my own. (just for amusement, not to try to resell.)

 

There are reputable dealers who have tons of legit toned coins on ebay- the fact that they have many toned coins alone does not mean they are doing something nefarious.