Like toned coins? The million dollar Morgan.

Here is an interesting article on the Norweb-Jack Lee 1893s Morgan and its background. It is generally considered one of the finest Morgans out there, even more spectacular than some of the MS 69 examples of other dates that do exist. The toning, overall eye appeal, and pedigree make it one of the most desirable coins for any collector to own. The million dollar price tag doesn't help the average collector, but it is wonderful to dream, isn't it?

http://www.coinlink.com/News/us-coi...ver-dollar-more-than-1-million-for-an-1893-s/

 

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I think it's a beautiful coin, but there are SO many other beautiful coins that I would prefer to have were I to have the money to afford this one.

 

Wow.

Is that spattered, chaotic toning really considered "desirable"? If I came across toning like this on an "ordinary mortal's" coin, I wouldn't dip it off -- but I certainly wouldn't pay a premium for it.

I guess I'm missing out on a lot because of my unsophisticated and untrained tastes. Given my budget, though, that's probably just as well.

 

Ugly in my opinion

 

The price is in my budget, but i would be running a huge deficit.

 

Jack Lee Dream collection for 99% of us!
But that what keeps collecting Morgan dollar's the alive and so active the hope of finding a Morgan dollar MS67+ someone had hidden away from public a lifetime or two.

 

I agree with the ugly. Not attractive toning at all imo. Would deduct rather than add premium for me. I'd dip it.

 

Butt ugly coin.....but what do I know

 

I would consider that toning VERY UGLY. Looks like someone spilled some coffee on it and just let it dry. Even if I could afford this coin I would never even consider buying it for one second.

 

Like they did with the Norweb coin?

 

Each to his/her own. That is one of the most celebrated coins in the numismatic world. The toning is interesting, and original, and I doubt that there are too many MS 67 1893s coins floating around. I have seen it, and it is prettier in hand.

 

I think the photo's in the link are not the best.
I recall the catalog from their sale. They where like in hand and 1000% better. Toning like wine some ya like and some ya don't.
Money won due to name of the collection.

 

IMO, the toning on that coin, regardless of how many times you tell me that its desirable, is just not that desirable. On a less rare coin such as an 1897-S in MS64, folks would certainly not be proclaiming that toning as "desirable".

Of course, the article points out that the Norweb Specimen (also an MS67) was "conserved" which apparently had an impact in it's ability to resell do to a lack of originality.

But then, that's just the coin business! Right?

 

Here's a better picture of the coin by PCGS:

 

That picture doesn't change my opinion. If anything at all, it validates the fact that hyping the toning as a justification for the cost is just hype. Sometimes, hype can affect desirability but not in this case.

 

Ah yes but then the author of the linked story states: "It helps to keep in mind that grading standards for Morgan Dollars are a little looser than standards for other 19th century silver coins, in part because Morgans typically accumulated numerous bagmarks and other contact marks." which gives the marks a "pass".

Not in my opinion, mind you, but in the opinion of those which have a vested interest in seeing this coin sell for 1.5 million or more.

BTW, I believe that the TPG's are in a "Stable" war regarding who can advertise that they've graded some fairly rare coins and as such, some questionable grades have been "awarded" to some rare coins. How else could a coin graded by one of the lessor TPG's go from AU58 to a PCGS MS62?

 

War yes for sure!
Also was not John A the man at Pcgs final say on grades at that time?