Am I crazy?

Franklins are my favorite series and I just about fell out of my chair over this 1958-D. Had my eye on it for a week or so and ended up getting into a fierce bidding war last night (which I lost). I had it predetermined in my head that I would not exceed 350 on this piece, but found myself bidding up to 400+. The new owner ended up taking it down for 430 which was close to 80 bucks over my budget. Then again last night I could not sleep thinking about this coin. I am a toned Franklin junkie. Where should I be drawing the line on toned premium? In all honesty what would you pay for this half? TY.

 

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Personally I believe you are crazy, but to each his own in a hobby.

I think error collectors, modern coin collectors, and date/mm collectors are crazy as well, maybe that just proves I am crazy, lol.

Chris

 

That is some nice toning. Yes, you are crazy. When it comes to toners, we tend to all lose our mind a little bit.

 

I wouldn't go over it's actual current value, toning does nothing for me and I actually would have moved on to the next one. So I guess the actual amount I'd pay for this one is $0. But that's just me, the tone unlover I am.

 

Jason, buy some nice original surface Franklin's, throw them individually into manila envelopes, keep them in an average environment for your part of the world, and come back in a decade or two. You can have a very pretty collection when you are older.

 

Just might have to do that. I suppose many of these will eventually tone.

 

I think it's a lovely coin, but I think the mistake you made was to get in the bidding war. I think you should have just set the max you would be willing to pay and leave it at that. The only drawback I see to this coin is that it's FBL by PCGS standards, but it doesn't appear to be by NGC standards.

I'm curious. Was this an eBay auction?

Chris

 

I think we're all crazy! That said and out of the way, thats a bit more (like $350 more) than I would have paid for it, but thats just me. I've paid way more a piece was worth because I wanted it on many, many purchases. If you like it and can afford it, then go for it, crazy or not.
Guy

 

Yes it was an ebay auction from a respected dealer. Usually I buy coins from him in buy-now format, but he must have known this one could cause a war.

 

I think the winning bidder paid crazy money for that toner. TC

 

Would this be artificial toning (IT) since you intended it to tone?

 

It is what a collector is willing to pay for the coin. Some toned coin collectors have deep pockets, others don't. You have to put a limit to what you think is worth bidding on. Obviously, although you got into a bidding war, the other person did not have a problem bidding whatever it took to have the coin in his/her collection.

 

Tough call. I would not say that since it is simply putting the coins in a situation that you know will breed toning. Does intent matter if you are recreating toning the EXACT way it is done unintentionally, but only intentionally? That is the huge question when it comes to toning.

My definition of AT is either chemically enhanced or a "natural" coin environment but the reaction is sped up. Chemicals are always bad, and many times sped up toning looks wrong, (but not always).

No offense meant to collectors of toned coins, and hopefully they aren't taking it that way.

 

First off, the PCGS/Numismedia price guide lists the value of this coin at $220 and why anyone would pay more than double that is beyond me.

Without the toning my top price would not exceed $170, with the toning, no more than $185.

 

yes, you are crazy.

Just wanted to say that without getting expelled.

 

Most collectors (myself included) are crazy. In fact, most people are crazy.

By the way, that coin is in this registry set http://www.pcgs.com/SetRegistry/AlltimeSet.aspx?s=77872

 

Been a fan of toned coins I understand the craze for that one. Plus the fact that its graded means its NT. But I have also learned that heavily toned coins usually carry a huge premium.

The question is, are you willing to pay a huge premium on toned coins? Keep in mind that you may see another one you like more in the future. Will you buy that one too? Maybe you can go for lighter toned coins and just pay the average going price.

 

$200 to $250 would have been my limit if I would have wanted it. You just cant compete with most serious toning collectors. They go nuts for these.
And you just don't know if the value of that coin will stand the test of time based on it's toning alone. I think if it was re-listed for the next 5 weeks in a row, it would likely sell for 5 wildly different prices depending on who was looking which week. That is a nice one though. I would hate to see what the guy would have bid it up to if you would have kept going! Maybe he thought he got a deal. lol

 

Well, they made 24 million of them. There has to be a better suited one for you.
& the other buyer paid almost 100% premium for the toning.

 

No, you are not crazy...just crazy about toned Franklins. I have mixed feelings...

I will pay much more than guide for a beautiful coin I want. I bought a late wheatie 65RB Lincoln that is gorgeous and lists for $10; I paid $70. I bought a stunning 1814 CBH XF40 with wonderful color and under graded, IMO, for 3x price guide. I picked up the below Morgan for many multiples of list.

But I always ask myself if there aren't many more like it. If there are...and I think a pretty toned '58-D Franklin isn't very tough, then I back off. The colorful Morgan is a bad example because it isn't really difficult. I had it in hand and lost my head. But still, I don't regret it.

So lose no sleep. There are more examples of that one you can buy for less. Just don't get stuck on paper values. Pay what you can for quality coins. You will never regret it.
Lance.