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<p>[QUOTE=&quot;Lehigh96, post: 1442099, member: 15309&quot;]I am sure this advice will not be popular but I promise you will thank me later.&nbsp; If you are planning to spend $1,500+ on a toned Morgan Dollar then you are not going to be paying for the grade, you are going to be paying for the color.&nbsp; At that price level, the color should be mini-monster for the lower grades and superb for the premium gems.</p><p><br /></p><p>In order to get a common date MS68, you are going to need near $3K.&nbsp; The better date Morgans are very rare with attractive toning and most are are held in strong hands and they bring very strong money when they do hit the market.&nbsp; That leaves you with the entire range of toned common date Morgans to choose from.&nbsp; Since you are rather new to the toning market, my advice would be to make a purchase that emphasizes grade value and lessens the premium of the toning.&nbsp; By purchasing an MS67 with rainbow toning the premium will be 3-4X wholesale while purchasing an MS64 with mini-monster toning will carry a premium of 10-20X wholesale.</p><p><b><br /></b></p><p><b>Rather than concerning yourself with the aspects of grading of Morgan Dollars you should spend most of your time researching the types of premiums that different toning patterns bring.</b>&nbsp; I will give you a hint.&nbsp; If you look at a toned coin and immediately think &quot;holy cow&quot; while frozen in awe, that is monster toning and the premiums are ridiculous.&nbsp; I have seen MS64&#039;s and MS65&#039;s sell for $5K.&nbsp; For the coins that don&#039;t invoke that reaction, you should be able to determine the premium that different patterns and color schemes drive in the market place.&nbsp; Search Heritage auction archives.&nbsp; A good way to do this is to use filters.&nbsp; Pull up all of the 1881-S Morgan Dollars in MS66 &amp; MS67 that sold for more than $1K and you will quickly get an idea of how to evaluate the value of toning.&nbsp; Also visit the websites of people who sell rainbow toned coins so that you can understand the premiums in the Retail market.&nbsp; Brandon Kelly is at <a href="http://www.jhonecash.com/coins/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.jhonecash.com/coins/" rel="nofollow">JhonECash</a>.&nbsp; His website is very informative and educational and his prices are at the high end of the retail range.&nbsp; Spend some time reading his website as well as searching his inventory and archives.</p><p><br /></p><p>Once you have an idea of the type of toning that you want, be patient and watch each Heritage signature auction until you find an example that you want.&nbsp; If you are really concerned about the coin being good for the grade, look for one with a CAC sticker.&nbsp; When you are ready, pull the trigger, and place your bid on the internet prior to the start of the auction.&nbsp; Do not go back until the auction is over. If you go back to check, you open yourself up to fall victim to auction fever.&nbsp; If you remain patient and stick to your original bid, eventually you will obtain your coin even if it takes several months.&nbsp; If you decide to purchase through the retail market, choose a dealer that you trust, offers a rock solid money back return policy, and doesn&#039;t juice their photos.</p><p><br /></p><p>Good luck![/QUOTE]</p><p><br /></p>

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