Another dealer story........

DIMEMAN

While at the Coin Expo this weekend the following deals that were very hard to pass up. Toning is pretty, but here goes.

1) 1882-S PCGS Morgan Dollar ($30 coin) deep cameo prooflike with frosted Liberty $150.

2) 1946-S PCGS Walker ($45 coin) Rainbow multi tone obv. very pretty rev. white $800.

Had to pass on both. Will anybody pay that kind of premium for tone? Especially the half. It wasn't even as spectacular(sp) as the dollar. I have never seen a dollar like that before. I did think on that a little, but at 500% couldn't do it. And at 1600% on the Walker it's all I could do not to laugh or choke or something.

Any thoughts?

Jon

TCiccone

Jon

Asking price is asking price! They were still laying at the table by the time you saw them, which means nobody else is willing to pay it either. (I say this with the assumption that he didn't put the coin out for the first time just before you got there)

IMO with the trends changing for the desire to have toned coins or white coins throughout the years, suggests that toning adds saleability more so than true value. A very nicely toned common date coin is still a common date coin. The scarcity of the tone may add desirableness but may also be a hinderance to anyone putting a "blast" set together.

With all that said, it makes sense to me to pay a premium for a nicely toned coin but not with complete disregard to a coins average value. The premium paid (toning) may not be recoverable and may even shrink your target market when it comes time to sell the coin.

Just a thought!

TC

DIMEMAN

TC,

Well said, I agree with you completely. Trying to resell a 46-s Walker in 64 for $800 would be very hard. If you buy something like that you almost have to do so with the idea that it is yours forever. That's why I almost considered the dollar. It was very pretty, if you saw it I'm sure you would agree. But you could never get the money back out of it unless you happened to find the right person.

Jon

windycitytrio

windycitytrio

I guess it helps if I type something before I hit enter -- as for your question, I rarely buy toned coins because what one person thinks is desireable coloring/toning another person may think is a detracting factor from the coin. If it is an uncommon coin you are losing potential buyers. Just my opinion.

TCiccone

Jon

As to my memory, you are speaking of the dealer in the rightmost aisle, second or third table from the back on the left hand side of the aisle (next to the flashy Italian Bald guy). He had a lot of highly toned coins but his prices were in another solar system!

TC

Toningintheblood

The dealer you are referring to with the 1946-S toned half is Jim Curtis of Estate Coin from No. Calif. He bought that coin at the last Santa Clara Show in a SEGS holder and crossed it over to PCGS MS-64 holder with the intention on selling it to me at the Long Beach show. I too heard his price and balked at paying it, and told him I was interested at a lower level. Glad you guys are passing too! Maybe in the near future, his price will come down abit and I can buy it. It is a very lovely coin, weak strike, but tremendous coloring, and is definitely worth multi-sheet because nicely toned Walkers are much tougher to find than any Morgan with nice color. Also, it sounds like you missed a bargain on the 1882-S toned Morgan at $150. Was it in a certified holder? What grade? Any decent toning on that date in MS-64 or up should be fetching $250 up on today's market. BTW, I have just put up my toned Walker Short Set on the Registry Page in the last couple of days, those that are interested, please check it out, and let me know what you think? Thanks, Dale L.

merysu

Dale, nice toning, sure beats looking at dipped coins, really like the 47. -mark-

DIMEMAN

TC & Dale,

The dealer that had the morgan and walker was John Schuch(sp) from Sacramento CA.

Dale, the 82-s morgan was PCGS63 with deep purple/blue/almost black super prooflike reflective fields with a totaly frosted portriat(sp) like you would see on late 1970's proof coins. Really a nice coin. I just didn't want it at $150.

Jon

kyleknap

Many nicely toned coins at the show. I still can't belive that at this time last year I sold my two best monster-toned MS65 Morgans for $900 and $950, and now I can't even buy a monster toned 64 with that kind of money. There were three really nicely toned coins at the show, an ICG 65 for $1350, and NGC 64, Binion Collection, I didn't even bother to ask, and an NGC 65PL, I couldn't find the dealer so I didn't find out, but the last time that piece sold it went for $795, I expect you'd have to give double that to own it now. Premiums on other coins are getting high too, I payed quite a bit over CU price guide for an 80s dollar thats NOT toned and NOT undergraded, and in an NGC holder.

Kyle

edit......
And I almost payed 2x sheet for a white 79s in an ACG holder, but then I remembered I'd promised someone I'd never own an ACG coin no matter what it loked like. I probably should have bought it, nicest cameo I've ever seen on that date.

Toningintheblood

Dimeman, In a PCGS MS-63 holder the Morgan is about even money, I have seen some low level toned ones for the $75 range, but this one sounds pretty decent. John Schuh originally had the 46-S when it was in the SEGS holder, so Curtis must of sold it back to him once it crossed to PCGS. I think it originally traded hands in the SEGS holder from Schuh to Curtis at the $450 to $500 level. I offered $600 at Long Beach for it, and was turned down. As Kyle states, toned prices are strong right now due to high auction prices realized for nice toned pieces and toughness from grading services handing out reasonable grades. Supplies of any new nice material, let alone nice toned material are shrinking daily. Dealers are resorting now to more sight unseen type coins to fill their needs, so CAUTION should be the word in current buying because you will be paying inflated prices for less attractive looking material for the grade, and making your buying choices from a larger inventory of coins grading 64.1 or 65.1 instead of 64.8 or 65.8 This could well carry through the ANA Show until the major auctions scheduled at that time help to fuel the market with fresh material. Now is a key time to sell your weakest coins, or coins you may be buried in. I have consigned coins to at least 3 of the upcoming prominent auctions surrounding the ANA and Sept. Long Beach Shows, and decided it is time to cash in a few chips while supplies are short and demand high.