I predict that this 1885-O $1 MS63+ PCGS Secure is going to eclipse the $1,500 mark in a few weeks. I was browsing the upcoming Heritage Signature Sale when I came across this jaw dropper. My guess is $1,685. What do you guys think about this coin and what price it will realize?
In the first 2 seconds I was kind of surprised they only gave it a 63, then I saw the rim damage. Makes me wonder if that coin didn't have attractive toning if it would have been graded at all. As for what it will realize, time will tell. We'll have to see just how crazy people are.
I would say at least $1500. The market for toners, as you know, is insane. I've paid perhaps $200 for a coin that looks similar to that, and others have gone into four figures to buy them. Who knows?
i'm tracking (10) coins in the upcoming auctions, can't wait to see what they go for.. the one you posted is (1) of the coins I thought would bring big money I also like these other ones....
I am with you man. +10% because a coin is pretty I can see, maybe even paying +20% because of original untouched surfaces, anything past that and I just shake my head. Not trying to start a war again Paul, just my opinion. Btw, I haven't seen nearly as much about toned coins the last couple of years. Has the market changed, or is it toning enthusiasts just don't like CT?
While I am sure that there are exceptions that can be pointed out, as a general rule from what I have observed the market for them has softened considerably. They are still popular, but prices have dropped.
Well if it was selling on eBay I don't think it would get past $500 but I suppose HA is a different beast.
Probably for all the doctored coins out there . Heck people are even buying coins that say AT on them , I say $750 , but I know little about the toning market compared to Paul and Chris .
My guess will be one-half of your guess, but keep in mind that toned Morgan dollars are not where I play.
Your opinion does not offend me at all. But just know that while you are welcome to feel that toning is worth +20%, there are so many other collectors who value it more that it basically ensures that you will never be able to own one. The prices realized by toned coins are the effect of supply and demand. There are so many people that want a coin like the one posted in this thread and so few of them available that when they hit the market, they easily drive prices of 20X bid. As for the toned coin market, they are still out there and driving huge premiums. Other than Dick (Greattoning) and Shane (Kryptonitecomics), most E-Bay sellers list their toners in a BIN format. Dick and Shane have large enough loyal followings that they can still list their offerings in an auction format. That said, they both still list expensive toners in a BIN or BO format. My take on the toner market over the last few years mirrors what I have seen throughout numismatics as a whole. The low end and mid-level quality toners have seen their prices drop. The prices haven't crashed like some have predicted but they have definitely gone down. However, the prices for monster toned coins like the one posted in this thread have gone up. I have seen some toned coins achieve prices so high on Heritage over the last few years, that I have been shaking my head.
Both NGC & PCGS have been using the "+" designation since 2010 to denote a premium quality coin for the assigned grade.
Eye appeal is addressed via the "*" designation by NGC. Though eye appeal is an element of grading, it is not a direct determining factor for a coin to receive a "+" designation by either service.
When I said that I wouldn't try to predict what some others might pay for such a coin, I meant that any price equal to or greater than the guestimate Paul offered would not surprise me at all. Chris
Maybe not these types of US toned coins today, but I do own them Paul. I have them from 30 years ago. I used to seek out colored US coins that I thought were pretty sir, and pay some premium for them, (just not these premiums). I have written a lot on how toned pieces, (if true natural toning), indicates pristine surfaces, something which I believe is valuable. Today I still buy what I consider very pretty coins, but its more in the Ancient and World coin catagories. Still, outrageous toning premiums are not unheard of in ancients either. I have seen sestertii bring $5,000 in gorgeous glossy green hard patina, (or blue patina pieces). However, to me, I am a little more comfortable with those since it took 2,000 years to create this patina, and its very durable. The toning on US coins took considerably shorter to produce, which leads to obvious yet unspoken consequences.
Techniquely you're right , but superior eye appeal does help . But I should have left that out of my explanation for reasons you just stated . I suppose it's PCGSs answer to CAC but only for higher end coins .
