This 1882s has had quite a provenance history. It was originally a “Northern Lights” collection coin. I am not sure if @Skyman owned it in the early 2000s. I owned it for 5 years in the 2000teens, and sold it in 2015. It was owned by an anonymous celebrity collector after that, and now is on auction with Great Collections. @ddddd, have you tracked this coin recently? The minimum bid is $7000, and the auction ends on Feb 6th. What would you guess it will sell for, and will it meet minimum? Note, as per Great Collections usual, the picture is not the greatest, so as to show the toning.
It was offered back in 2019 (possibly several times) and I don't believe it sold. Here is a Coin Week article from May 2019 that mentions it (but no price) https://coinweek.com/auctions-news/...ar-with-gold-cac-and-ogh-at-greatcollections/ Then I used wayback machine on the link from that article (which is no longer active) and it brings us to an auction ending Aug 11, 2019 with a starting price of $7,500. Since the coin cannot be found in the GC archives, that usually means it did not sell. The following page is where the archive takes us: http://web.archive.org/web/20190809...r-PCGS-MS-63-CAC-Gold-Label-OGH-1st-Gen-Toned And here is a screenshot if the above does not work:
Some toners have quadrupled in the last 6 years. In this case, there has not been a sale, so it's just the asking price that went up. A no reserve auction would give us a better idea of the market. My thinking would be the coin would bring close to $4k if the bid started at $1. As it stands now, I'm leaning towards no sale at the $7k starting price. If it does sell, it will be at that starting bid because someone really liked the combination of toning + rattler holder + gold cac and was in a position where $7k (plus fees) was affordable for them (even if it is well above the market value).
I am not certain, but from what I understand, the celebrity collector, whom I know sold it privately. I believe it was sold in 2017, or 2018. Once again, this private collector I think (he did not tell me definitively, but hinted) sold it for $4500, I would guess. I agree that it probably won’t sell at hammer price. It is more like a $5,000 coin to me. The grade, and lack of pedigree on the holder hurts it badly. If it were in an attributed holder, with an NGC MS 65* grade, it would sell at $7500-8000. Unfortunately, the OGH, and the under grade hurts it. We classified it as “high”, but not monster on another thread, and that is true.
@Morgandude11 @ddddd I never owned it. Pretty coin, but an absurd asking price if $7,000 is indeed correct (and let's not forget to add commission on top of that). I agree with the above posts, somewhere in the $4,000 - $5,000 range, and that INCLUDES commission. While the toning is very nice, and the cheek is clean, it looks to me like there is a pretty big, and also a small to medium, set of gouges in the chin and lip area. There is also the obvious fingerprint at 1 - 2 o'clock on the obverse. So, probably an MS64 under current grading standards. As an aside, while I do believe the coin is NT, there is essentially no height differential toning between the raised and lower portions of the hair and tiara sections of the design, which is often a diagnostic for monkey business with toning. Obviously there are a lot of toner Morgan fans out there, but it's not like there aren't other coin Types that can tone up nicely, where you can buy something special for that amount of money. Or, quite simply, a person can save their money, and wait until the right toner Morgan comes along for the right amount of money.
Agree completely. The price escalations on the coin are beyond its value. I paid $440 for it in 2010. I was thrilled to get just under 2k for it, and strongly agree that it is a $4-5000 coin, especially in that holder. The pictures do not do it justice—the toning is pretty vivid for its grade. They are typical crummy Great Collections photographs. It is by no means a Monster, and for 7-8k, one should expect more. I would call it a technical 64, that would probably get a color bump and star from NGC to 65.
I don't think it will reach the $7,000 mark either. Far too many in higher grades, several with more notable pedigrees. Anyone seriously willing to pay that much would wait. Pedigree aside, what it has going is the color, the old holder and the bean. Yet even with all of these I'm thinking half that, which is generous. Then again, collectors are known to do silly things.
Agreed. Many of the buyers who spend high 4, and 5 figure money on common date attractively toned Morgans are not coin collectors, but are “art” collectors. I have spoken to many of them, met quite a few, and they all want an object of art, as opposed to a coin, per se. Serious toned coin collectors are wary of overpriced toners, and correlate grade, pedigree, and highest quality of toning with price.
That's what I always thought, especially with regards to special coins like Carson City Morgans and UHR and HR Saints. So many people just have the 1 or 2 and have NO INTEREST whatsoever in even minimally expanding their Type Coin collection. And I emphasize "coin" as in singular not plural.
Want to talk about crazy asking prices? I think this one takes the cake: https://www.ebay.com/itm/1896-Monst...p2349624.m46890.l6249&mkrid=711-127632-2357-0 according to the seller, he is a “Graduate Gemologist.” Now, that is highly comforting. Unfortunately, too many people fall for this nonsense. Look at “Mother Nature’s Showroom,” and Ed’s Dynamic Marketing.” He actually manages to sell quite a few of the AT pricey coins, and make money from sucker buyers.
That seller has a few Morgans and other coins where he buys them and then lists the coin for 10x-100x. I'm not sure what the goal is as they never sell (maybe one or two have over the years if he took an offer for something like 90% off). He has one Morgan that I followed at auction that is now around 10x that result and a Hawaii Dollar that is close to 15x the last auction result (that is a coin I lost but would not even make an offer at his ask).
Not my cup of tea for that price . No idea what it would bring but in my eyes it should bring maybe 120.00 haha. I do not pay much more for toned coins though.
Now I feel like a cheap ass! [puts penny jar away]. Maybe I should have gone to work on Wall Street back in the day instead of Main Street.
