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<p>[QUOTE=&quot;Lehigh96, post: 721834, member: 15309&quot;]<p style="text-align: center"><u><b>INTRODUCTION</b></u></p> <p style="text-align: center"><u><br /></u></p><p>I don&#039;t think I am informed enough to give an accurate assessment on the coin industry as a whole.&nbsp; Most of you will probably not believe this, but I don&#039;t know even one coin dealer.&nbsp; I have built my entire collection by purchasing sight unseen from online auctions and dealers.&nbsp; Likewise, I don&#039;t know any coin collectors either.&nbsp; Everyone I know from the numismatic world exists only in the virtual world.</p><p><br /></p><p><br /></p><p style="text-align: center"><u><b>COLLECTOR REPORT</b></u></p> <p style="text-align: center"><br /></p><p>The internet world has not changed IMO.&nbsp; The chat rooms are filled with the same type of collectors that have always existed.&nbsp; There are newbies that discuss coins they found in pocket change.&nbsp; Big money investors that throw money around with reckless abandon.&nbsp; Bargain hunters who seek to purchase every coin for below greysheet.&nbsp; Registry drones who know little of coins and basically buy high priced plastic.&nbsp; Toning enthusiasts who love eye appeal more than money.&nbsp; Blast white collectors that prefer their coins look exactly the same as the day they left the mint.&nbsp; Bullion investors who watch the prices of silver and gold as if they were their children.&nbsp; Error and Variety collectors who search thousands of coins with a loupe in search of the next great discovery.&nbsp; Plastic haters who think the TPG&#039;s have ruined the coin industry.&nbsp; Kool-aid drinkers who believe only in TPG snobbery and superiority.&nbsp; There are modern collectors who love mint and proof sets and the like.&nbsp; Darkside collectors who live happily in the shadow of the US coin collectors.</p><p><br /></p><p>No matter what group you fall into, I have found a common theme.&nbsp; Each group is diametrically opposed to another group.&nbsp; When members of these opposing groups meet, conflict starts.&nbsp; For example, this site has it&#039;s fair share of collectors who prefer to collect un-certified circulated coins and fill albums.&nbsp; When they run into the big money investors, they become critical by saying that the investor doesn&#039;t really love coins because they cant hold them if they are permanently entombed.&nbsp; Personally, I wish we could get to the point where collectors would respect each other&#039;s preferences no matter what group they belong to.</p><p><br /></p><p><br /></p><p style="text-align: center"><u><b>TONED COIN MARKET REPORT</b></u></p> <p style="text-align: center"><u><br /></u></p><p>Each month prior to the Heritage Signature Sale, I search the auction for coins that I find extremely eye appealing and track them.&nbsp; I don&#039;t usually bid on many of the coins, but I like to see how they perform.&nbsp; It gives me an idea of the how the toned coin market is doing.&nbsp; Here is what I found this month.&nbsp; Monster color coins remain very strong indeed.&nbsp; However, the premiums for more subtle toning seems to be softening somewhat.&nbsp; I will list some of the coins I tracked below and give my comments.</p><p><br /></p><p><b><font size="4">1917 Standing Liberty Quarter NGC MS66 FH</font></b></p><p><b><span style="color: Blue"><br /></span></b></p><p><b><span style="color: Blue">Price Realized:&nbsp; $6,325</span></b></p><p><b><span style="color: Blue">Wholesale:&nbsp; &nbsp; &nbsp;&nbsp; $1,425</span></b></p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/1917MS66.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=576" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=576" rel="nofollow">http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=576</a></p><p><br /></p><p><b>Description</b>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; </p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <b>1917 25C Type One MS66 <img src="http://coins.ha.com/common/images/star.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> Full Head NGC. CAC.</b> <span style="color: Red">This stunning Premium Gem has magnificent multi-colored rainbow toning over frosty silver luster on both sides. The strike is second to none with every detail boldly and completely defined. Although NGC has certified 317 of these in MS66 and another 58 in MS67, only eight of those coins have been assigned the <img src="http://coins.ha.com/common/images/star.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /> designation, including five MS66 and two MS67 (9/09).</span>(<a href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" rel="nofollow">Registry values</a>: N1793) (#5707)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; </p><p><br /></p><p>This coin is phenomenally toned for a series that is almost impossible to locate with attractive rainbow toning.&nbsp; I consider this one of the top ten 1917 SLQ&#039;s in existence with regards to eye appeal.&nbsp; My bid on this coin was close to 2X wholesale.&nbsp; The coin sold for almost 4.5X wholesale.&nbsp; I guess the other collectors shared my opinion about this coin.</p><p><br /></p><p><br /></p><p><b><font size="4"><br /></font></b></p><p><b><font size="4">1924-S Peace Dollar NGC MS64 CAC</font></b></p><p><span style="color: Blue"><b><br /></b></span></p><p><span style="color: Blue"><b>Price Realized:&nbsp; $1,092</b></span></p><p><span style="color: Blue"><b>Wholesale:&nbsp; &nbsp; &nbsp;&nbsp; $1,050</b></span></p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/Peace1924-SOH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/Peace1924-SRH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1126" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1126" rel="nofollow">http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1126</a></p><p><br /></p><p><b>Description</b>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <b>1924-S $1 MS64 NGC. CAC.</b> <span style="color: Red">Both sides show a broad diagonal stripe of peach and dots of peripheral tan-olive, with light silver-gray color present elsewhere. Pleasingly detailed for the issue with few overt abrasions.</span>(<a href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" rel="nofollow">Registry values</a>: N991) (#7364)</p><p><br /></p><p>This coin does not have monster toning.&nbsp; A subtle yet pleasing patina gives the coin character and originality on this conditionally rare issue.&nbsp; Even with a CAC sticker, this coin barely broke the wholesale price barrier.&nbsp; I expected this coin to exceed Numismedia Retail value easily.</p><p><br /></p><p><br /></p><p><br /></p><p><font size="4"><b>1936-D 50C Cincinnati MS66 PCGS. CAC</b></font></p><p><br /></p><p><b><span style="color: Blue">Price Realized:&nbsp; $862</span></b></p><p><b><span style="color: Blue">Wholesale:&nbsp; &nbsp; &nbsp;&nbsp; $1,100</span></b></p><p><b><span style="color: Blue">Auction Archive: $713</span></b></p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/1936CincinnatiMS66OH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/1936CincinnatiMS66RH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1149" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1149" rel="nofollow">http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=1149</a></p><p><br /></p><p><br /></p><p><b>Description</b>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <b>1936-D 50C Cincinnati MS66 PCGS. CAC.</b><span style="color: Red"> Lovely lemon-gold drapes this lustrous Premium Gem. Hints of aqua-blue and cherry-red grace the margins. Essentially devoid of post-strike abrasions, though the highpoints of the harpist retain the texture of the planchet.</span>(<a href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" rel="nofollow">Registry values</a>: N1793) (#9284)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; </p><p><br /></p><p>Another example of a coin with pretty but not monster toning that underperformed IMO.&nbsp; Although the stated guide price for this coin is definitely way too high @ $1,100, the fact that this coin with this toning only achieved $150 over the average auction archive price is disappointing.</p><p><br /></p><p><br /></p><p><br /></p><p><font size="4"><b>1938 50C New Rochelle MS66 NGC. CAC.</b></font></p><p><br /></p><p><span style="color: Blue"><b>Price Realized:&nbsp; $1,725</b></span></p><p><span style="color: Blue"><b>Wholesale:&nbsp; &nbsp; &nbsp;&nbsp; $580</b></span></p><p><br /></p><p><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/1938NewRochelleMS66OH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /><img src="http://i117.photobucket.com/albums/o59/ACPitBoss/1938NewRochelleMS66RH.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=9093" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=9093" rel="nofollow">http://coins.ha.com/common/view_item.php?Sale_No=1130&amp;Lot_No=9093</a></p><p><br /></p><p><br /></p><p><br /></p><p><b>Description</b>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <b>1938 50C New Rochelle MS66 NGC. CAC.</b><span style="color: Red"> NGC Census: (481/103). PCGS Population (800/146). Mintage: 15,266. Numismedia Wsl. Price for NGC/PCGS coin in MS66: $600.</span> (#9335)(<a href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://javascript%3Cb%3E%3C/b%3E:void%280%29" rel="nofollow">Registry values</a>: N991) (#9335)</p><p><br /></p><p>A monster toned example for sure that sold for 3X wholesale.&nbsp; The New Rochelle is one of the easiest commems to find with monster toning and every time one hits the market, they seem to do very, very well.&nbsp; This coin was no exception.</p><p><br /></p><p style="text-align: center"><u><b>CONCLUSION</b></u></p> <p style="text-align: center"><u><br /></u></p><p>My overall opinion is that collectors are becoming more discriminating in the current economic environment.&nbsp; If the coin is not spectacular, it most likely will not see a premium that it saw in years past.&nbsp; For the toned coin collector this can be an opportunity.&nbsp; We can take solace in the fact that the monster toned market seems untouched by the economy and use the softening of nicely toned examples as a buying opportunity to pick up eye appealing coins for much smaller premiums.[/QUOTE]</p><p><br /></p>

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