Would you pay this much for this???

Interesting coin, likely artificial toning. Coin looks nice and almost flawless aside from that, never mind the basement slab and grade. Hammered on the Bay for a little over $500. Extremely nice coin that got itself and it's reputation tarnished. Grade opinions, the toning aside? I had no intention of bidding, so no for me. Just curious about opinions on both price and grade.

 

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Reverse might be close to a '66 but the obverse ain't. No way I'd pay that amount of 'jing'. It's a lovely coin but not for that money.....

 

Me either. The bidding was nuts on it. I saved the search and came back later after the auction was over and LOL'd.

 

The thing is... that toning is remarkable.

What the Ebay listing shows is a coin with a fantastic reverse in a slab with no respect. The reverse appears to be a 66 all day (based solely on my interpretation of the pictures).

The obverse seems to show a large mark on the jaw, and a few speckled marks in the left field. You don't know how many other marks are hidden with those blurry pics.

However... what this coin does show is an absolutely stunning electric blue. This is one of the most coveted and rare color patterns. Based on my interpretation of the picture, I suspect the bidders expect that blue pattern to continue around the full circumference. If that's the case... the sky is the limit on this coin.

Even more importantly, the toning on this coin appears to be natural. I see pullaway underneath the date, and I see elevation chromatics around the left stars. Both of these are incredibly hard to duplicate. Everything I see in this image looks like natural toning.

If this coin gets cracked and graded by PCGS at 65.... this is easily a $1500 coin. Problem is, it is a gamble. If I were a betting man and had enough money to prospect, I'd hit that trigger.

 

I would treat this as a raw coin and as stated above i'd say the buyer came out pretty good if it re-graded as a straight gem but it's a gamble for sure.Morgan collectors can get pretty crazy but i think I see a few carbon spots,pictures are really hard to judge though.Nope to much of a gamble to me but someone feels lucky since it sold.

 

I have been watching these new era PCI slabs and there have been a lot (dozens if not over a hundred) that have sold in the last few months. As I understand, someone bought the PCI equipment and is still making these slabs. The vast majority of the Morgans (and other coins) that I have seen appear to be over graded, artificially toned, or both. I liked the look on quite a few and have bid on some as a curiosity (knowing that they would likely not straight grade at other TPGs). However, they all tend to sell for more than I bid ($200+). I do not personally think they are worth that much but the market (at least on eBay) thinks otherwise as they keep selling.

 

They paid for the toning.

 

I thought that also, but figured it was my imagination.

 

Which in my opinion is a huge gamble that could result in a details grade. Like one person above said, I see these heavily toned coins in a PCI slab A LOT. Someone out there knew how to artificially tone coins and used this "grading service" as a launch site and grading mill. The coin is absolutely beautiful but makes me nervous and I would never pay that for that date/mint unless slabbed by legit TPG.

 

I certainly don't think it is a MS66. I can see chest feathers on the back, but they look worn also. That may just be the photo, and the the blue toning on the obverse looks too blue for me. Again it may be the photo and this time also the lighting. Lot of marks here also, again lighting may make them look worse than in hand. But, these are the photos the seller posted. Too much money for too many questions for me.

 

Looks MS65.

 

That's what I understand. I'm thinking it was a well known dealer.

 

Note to self:
Learn how to artificially tone these babies
Start a new eBay account

 

It wouldn't be the first time ...

The obverse, with the big gash on the cheek, would be lucky to grade MS-63.

 

The way the legal system works these days, you might need to set aside some money for lawsuits when the buyers find out that they have been had. Even if it's "frivolous," it's still expensive to hire an attorney to fend them off.

Many years ago there was a firm in Boston that sold "coin investment portfolios." Some of the stuff that he sold for $3 and $4 thousand dollars was worth $50. When things fell apart for him, he had the perfect solution. Flee to South America.

 

Set aside the toning.

Increase the image. This piece will not achieve a Grade that would support any trigger pulling.
I view a dipped piece with remaining residue. The reverse is an average strike for this piece and the year.
The obverse is fairly typical also, but the coin has quite a few hits and dings.
Every Morgan has 1 aspect that defines the opinion: 90% of the story of a Morgan is the obverse.

The story on this piece is no soup for you, if chasing a wow Wampum return of a vaunted grading opinion.

Throw the tomatoes at me. I am hungry.

 

In my humble opinion it’s a MS-64 at best. Just too many hits, bag marks and the like. Both sides have these marks but more and deeper ones are on the obverse. The toning looks AT to me.

 

Did I overpay?

 

I guess it is in the eye of the beholder. I never criticize anybody that pays for a coin they want. I've paid more for something than I should have simply because I wanted it. Personally, for me, I do not like toned coins. In my opinion they are damaged. If I received this as a raw coin, it would go in a coin tube with all the other Morgans I stack. Did you overpay? Only you can decide that based on how bad you wanted the coin.

 

A lot PCI coins on eBay seemed to have juiced photos to enhance the color. Wouldn't be surprised if that Morgan isn't as vibrant in hand.