The Toning Premium Thread

Good point. In this case, given that Krypto traffics in toned Morgans, I'm guessing he might have gotten a great deal on this one (maybe because he saw through a bad photograph, whatever) and is using it as an example of how capricious the market can be. Of course I might be totally wrong; there's no question this toner is exemplary and should command a huge premium.

 

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Oh how right you are my friend.....I did indeed want to use this as an example for several reasons.

#1 It was purchased on ebay and the image certainly did not convey how nice the coin was but based on my krypto goggles and knowing how to interpret bad images I felt confortable placing a low but solid bid. I can't see to find the original image which showed color but the picture was little more than a thumbnail at it's largest viewing capacity.

#2 This is a great example of how dates really play a key roll in buying toned coins for those that specialize in Morgans. it was mentioned that the grade (MS65) wasn't anywhere near a top pop so that would hurt the value but the reality is really contrary to what was pointed out when toning is factored in. If this was a monster toned MS65 1880-S then it would have been worth a fraction of the price....but based on the fact that this is most likely in the top 5 nicest toned Gem or better 1883-P morgans on the planet a strong premium would be required to own it. So looking at pop reports for 1883-P's will not necessarily help you determine premiums for toned material but certainly the rarer the coins date and mint mark...the lower the toning premium usually is.


So...I bid and won this coin for $585 on ebay several years ago and I believe I might have been the only bidder...can't remember for sure but I believe opening bid was what $585. When the coin arrived in the mail I had no idea where it came from and litterally though someone had made a mistake until I verified the cert# matched the coin I won on Ebay....that's how much of a difference there was in overall appearence.

So now we can see that amoung the multitude of other things that factor in to evaluating toned coin values is the "rip" factor if you will. I have done this dozens of times on ebay over the past 12 years so if we were trying to determine a market value for the coin I posted...using $585 (the purchase price) would be completely inaccurate. This is further illustrated when I add in the fact that a month after I won the coin I sold it via private sale to another knowledgable toned Morgan collector for $3000.

 

If this thread's intent is "not" to be a contest, then i think we should change the game. I think we should submit what we think the coin is worth in today's market, so that noise is removed and we have a more normalized range of prices that can be employed to measure the toning market..... after 24 hrs the poster should post the price he paid, and then either pick someone who offered a guess to post the next toner, or simply open it up for anyone to post the next sample.

btw, I was thinking 1,850 on the monsta' posted by Shane... a wonderful pickup from the 'bay.

 

I think we are all in agreement that the final value of this coin was strictly driven by toning enthusiast's premium's . Actually I question why the TPG did not give this coin a +designation. I'm going to propose a final value paid of $775.00, however that equates to X the whsle price. A superb looking coin. One which in today's market offering in the proper venue, would probably bring two or three times what the present owner paid. Oh well I got into this to late.

 

Looks like oval_man's guess of $450 is the closest.

 

Yeah, that's what I originally thought. They just added that designation this year. Well, lehigh alway's said he hear's squeeking when walking near you. I said it was mice though.

 

I agree that for an educational thread normal pricing in todays market would be more suitable to try to understand what collectors are paying for toning. I think all of us can pull out coins we made a great purchase on, (and ones we lost our shirts on), but it doesn't help trying to understand the market. If possible, could we have coins that have changed hands in the last year or so with both parties being aware of the toning premium? I think this would be most conducive to learning what the market rate for toning is.

I still liked Kryptonite's example knowing that he sold it for $3000.

 

You have to admit though doug, this is one sweet looking coin, and I am not surprised by the op's resale figures. This , IMHO is a true toning premium coin. I could picture someone ( not saying who ) continually hitting the bid button on this. LOL

 

If I'm up, I'd like to skip a turn or two; floor's open.

 

I don't think there is anything wrong with that but if you saw the coin in hand...you might change you mind as it was certainly the best toned Morgan I ever owned regardless of the date. Most experts believe the coin came out of the Continental bank hoard but I had no way to prove it...it jsut had a similar look to some of the monster examples that came out of that hoard. I think in today's market the coin would still pull at least $2000 to $2500 at a heritage signature auction but you never really know until the gavel drops

 

Shane, You STOLE that coin @ $585! Just goes to show that crappy e-bay photos are a cherrypicker's best friend....Mike

 

So my guess of $2,500 but worth more was spot on considering what Shane resold it for a month later. I have seen big numbers for similar morgans, crazy multiples sometimes for green.

 

I just won't do it because I am convinced the prices won't last.[/QUOTE]


There are some coins, that must be held for a period of time before one might realize any significant ROI . I don't think there is much room for this item to appreciate, over and above the last quoted Sale price, in five years or ten years.. Anyone who paid such a premium, clearly understand's that , and is more likely to maintain the coin in his/her personal collection unless necessity warrants a short sale . Kyrpto received every bit of profit potential from this coin the moment he sold it.

 

Since the floor is open, here's a beauty of a Seated Liberty Half Dime. NGC MS 64 Star. Purchased June of this year.

 

There is something very strange about the toning on that half dime. It would appear that the left side of the obverse is furthest in the toning progression and yet it's reversed on the reverse....does this coin have a rotated reverse or something?

 

That is a pretty dime... I'll go $650

 

Nope, no rotated reverse. I just think that the reverse was more protected from the environment than the obverse.

 

You took the word's right out of my mouth. Something is " a foot " with this coin. I also have to seriously question the assigned grade.