This might be a new record for an MS 62 Common Date Morgan reverse toner

I've liked the look of this Morgan since I first saw it at GC. Back in 2019, I thought over $500 was a lot for a reverse toned common date. So far it has not come down across 4 auction appearances. Each time I see it sell, it goes for more! Tonight it might have set the record price for a common date in MS 62. I have seen a few obverse toners in 62 bring more but not a reverse toner for almost $1,600!

 

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It is interesting also that it has had less views each time. This last sale had about half as many views as its first listing and less bids than any other time.

 

It started at $400 this time as opposed to $1, so that could have impacted the views and number of bidders. Even if the coin ends at the same price, there will be more people that kick off the bidding at the lower price point (and more people clicking on this listing).

 

I love toning, but like Butt-Head would say, "Umm, no."

One could get a really rare ancient, like Eugenius or Constantine III for that.

 

Nice but not that nice.

 

That's a perty one. You would think that it would stay in a collection. for more than a year or so each time. Or a dealer has bought it and asked ridiculous prices for it.

 

Just think if that was Obverse toned with the exact toning pattern, instead of Reverse! What would it sell for then??? Wow!

 

To be fair, the reverse is essentially gem grade and the obverse is grade limiting making it one of the best MS62s I have ever seen. I think the original price of $550 is a little low and the newest price of $1598 is moon money. I like this coin at the $700-$800 range, but I haven't been buying toned Morgans for years and it looks like the market has passed me by.

 

I obviously don't need to tell you, but the colors on the reverse are really rare, especially that much coverage. It is stunning.

 

It's closer to 2 years in between each sale but one can still say that is a short period. The number of sales suggests it was more likely bought to resell. Some of the sales could have been a person that planned to keep it but was convinced to sell after seeing some of the incredible results of other toners over the years at GC.

 

I could see $3k-$4k if obverse toned.

The nicest MS 62 I saw (in person) sold at Legend in April 2022 for $3,055. Today I would think the coin below would sell for more than that (and more than the coin in the original post, even if that one was obverse toned).

 

In 2019, it was closer to the top end of the market for a reverse 62. Today $550 would be low and I would like it as well in the $700-$800 range.

And it is among the better MS 62s although there was an even nicer example (in my opinion) from what appears to be the same submission.

This one sold for 412.61 back in 2013 on GC and then $540 at DLRC in 2019.

 

It is definitely nice and I see why others would bid it up. I'm also still a bit surprised it went this high. I looked at GC and it did set the record there for a common date MS 62 (obverse or reverse toner). Even though I wanted the coin, I am happy with my MS 63 of the same date which came at a premium as well but quite a bit less overall.