Pricey toned Morgan...

http://coins.ha.com/common/view_item.php?Sale_No=1145&Lot_No=4205&Lot_Id_No=34005

I was surprised when bidding on this hit $1,840 (incl. BP); now it's over $4,000 (incl. BP). It's definitely "colorful," but $4,000 colorful?

 

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Ex: Sonnier coin is going to be a monster in hand and Lloyd Cowle who owned it after Bryan sold it only collects the best of the best so even though it's a common date you can be sure it's a stunner in hand. Most Morgan toners now days do not approach these levels in these grades since the collapse of the toned Morgan market shortly after all of the Battle Creek Morgans were sold off. Back in the day this coin might have approached $8,000 to $10,000 at auction......but typically not anymore. I have bought my fair share of nicely toned Morgans but I have never had the cash to go after these super nova coins....and while I don't believe they provide good value from an investment standpoint...I do believe they provide amazing eye appeal for those that have the available disposable income.

 

Despite the fact that this and others from the Sunnywood Collection are true wonders to behold, I would much rather use the money to buy a dozen of the nicer ones that Shane has offered from time to time.

Chris

 

Sorry Shane but I agree with you OvalMan. I can appreciate a toned coin but I think that one looks just like too much for me. AT or not it just looks too out there. An 80S in 66 Grey's at $200.
So to me even if you like that kind of color it's too much.
I know many of you like and if it's your money spend away. I just would not spend mine on that. I'd rather get a nice GSA or a DMPL for that money.

 

I think most would agree with you...personally I have never spent more than $1500 on a toned Morgan.....if I had a lot of extra money I might pony up for one of these but I certainly understand why most folks would think collectors nuts for shelling out 10X-30X premium for color........just as I think folks nuts for buying white widgets lol

I was just trying to give some background on coins with these type of prices...knowing the players very well and seeing coins of this quality in hand.....very cool even if they aren't $4,000 cool to most.

 

Agreed, it's like this: I like DMPL's and would and have paid pretty good just because of that DMPL but I think some of those get crazy money...100k or more.
I guess you just have to be in a higher tax bracket then I am for me to appreciate spending that kind of money on those coins.

 

C'mon! Spit it out! What you really mean is they have all dollars and no cents.

Chris

 

lol thanks for clarifying it for me so clearly!!

I'll make it short this time:

With the real high coins it seems the buyers "HAVE ALL DOLLARS AND NO CENTS"

 

Absolute Monster!!! If I collected Morgans I could see sinking $6000-$8000 into that coin. Thats actually exactly why I dont collect Morgans:yes:

 

I think the pic is worked up a bit... I like toned coins,, but that's simply too much.... I'd rather have 15+ MS66 of the blast white one's.. and then AT a few of them to that color if I felt the need to stare at a neon painted pet rock. Stupid money on common dates for neon paint still baffels me.......... but as has been said, I guess if you have it burn, then burn it.

 

Krypto, I appreciate the background info.

 

I like Morgans and toned Morgans but where do you draw the line? When does it simply become a status symbol to those who can afford them, like a $15,000 watch?

Also, I don't agree that more is always better; i.e., if some color is good, then a lot of color must be awesome. This Morgan is definitely a looker but approaches AT color and no one would drop that kind of cash if they knew it to be an AT Morgan.

Personally, I'd rather spend an afternoon at an art museum to get my dose of color.

 

You guys have got to understand that this coin is so incredibly rare. People pay high prices because they simply cant find these things often. Two or more people want this coin bad, they feel something like this will not come around again.Therefore there is only one way to obtain this coin; that is to be the highest bidder. It's really no different than a error collector paying thousands for a coin that is missing denticles, multiple denticles, or misplaced/double mint marks. I've never heard anybody bag on a collector for buying a 3 legged Buffalo even though they are paying a huge premium for a incomplete coin. Please nobody take this personal.

Dimefreak
jon

 

You're right; well said.

 

Dimefreak,

I certainly will not take it personal
But you can say the same about my fingernail clippings from last night. They are very rare! "so incredibly rare".
And "Two or more people want this (fingernail clippings) bad, they feel something like this will not come around again."

As for comparing to errors or anything I'd love a 3 legger but I'm not paying moon money for it either. Basically it comes down for me to there has to be a real substantial market and at that price for a toned coin even you are talking about only 2 people bidding it up. Just too risky for my money especially when I don't even like it that much.
Like Ovalman said: "I don't agree that more is always better"

But I do agree that it's their money so spend it how they want.

 

So a normal blast white 80 S MS 66 list for around $425. The toning premium is the price difference. I like toning, but not that much. This goes back to that argument about paying $XX for the toning. Morgans are one of my favorites. My goal is to plug the hole in my IS. Maybe some day I can get one like that as an upgrade.

 

Love the passion Duke! You are 100 percent right using your analogy. You most definitely could insert anything in my original sentence that is rare. Thats the beauty of this particular auction. When I look at it I can see that two or more suitors are wiping there backsides with every price guide imaginable. I see pride ( wanting to own the best). I see competition ( only one person is going to get the prize). But the best thing of all is I see collectors that have a great amount of passion for the hobby. I love being around and meeting new collectors more than anything else. A few years ago if you asked me what I felt the best way to spend a day is, without hesitation I would have said "on a lake fishing". Then I met a old man that at first glance looked extremely grumpy and miserable running his B&M coin shop.It never gets old sitting in there and listening to him and his regulars talk about some of the same old stories. These old men really get excited and animated talking about there collections. It wasn't until I spent quite a bit of time around these guys that I was able to remove the word "investment" from association with the word "hobby". I think that until the majority realizes that people are paying these prices because extremely toned coins bring them enjoyment toned coin collectors will remain crazy outcast. I mean seriously does the idea of enjoyment or happiness have a price tag?

Dimefreak
jon

 

:too-funny: That is great. lol

I see your point about "a price tag on happiness or enjoyment" and that's very true. How much do we spend on all sort of things to just make us happy. Many a person spends tons on a sailboat to sell it for less but be happy sailing it while it was theirs.

And if someone here was the one bidding the moon on this coin then I probably would not say much but that person is not here (that I know of).

But in retort to your comment all I will say is that this coin does not make me happy enough to spend that much on it But as I have pretty much said in every post in this topic "it's their money so spend it on what they want" Because I have spent over book on toned coins before and I have wasted money on enjoyment for sure too. :thumb:

 

Im glad we remain friends and you enjoy the hobby:yes:! Remember you have inquired about some of my coins so I know you are no stranger to toning premiums!

 

Yeah,,, pretty flakey imo to base market validity of a coin on the fact that 2 folks are bidding on it, within a population of Millions of ebayers... I'd bet one is probably a shill bidder too.. lol. So it could very well be that the coin has found one sucker on the poker game, ... and that's out of millions of virtual players on ebay....,,, and of those millions I'm sure thousands, if not more could easily part with 5k or more on a coin if they found it attractive or believed it to be a good deal. Which apparently they do not.....