Hidden Toning

RLinn

Are most of the really great toned Morgans already discovered by the serious numismatic community? Or, do you still think there are more to be found as heirs discover and liquidate their forefathers' hoards?

dragon

I would say that at least 80%-85% of all the really superbly toned dollars have already been uncovered and dispersed by now. While there will always be fresh material surfacing from time to time as old collections and/or hoards are uncovered, it takes a really large quantity of either original mint sealed bags or an enormous old time collection to produce any meaningful number of superbly toned dollars IMO.

I believe the last REALLY 'big find' was the Continental Bank Hoard which consisted of hundreds of original, unopened bags of dollars that were sitting in the basement vaults of the Continental Bank in downtown Chicago and were found during an audit. Some of the toned coins in this hoard are IMO among the finest toned dollars in existance. I had the extreme good fortune of seeing some of these original bags after they were opened and it was amazing!

More recently, the Binion hoard of dollars did produce some nicely toned pieces and was quite a sizable hoard in its own right, however the quality of the toned pieces in the Binion hoard paled in comparison to the Continental Bank Hoard IMO.

Some smaller collections/hoards like the Benson collection also produced quite a few beautifully toned pieces (non Morgans) and were quickly snapped up at record prices at auction, which should serve as further proof that the market for superbly toned coins is probably as strong as it's ever been with serious collectors and dealers ready, willing, and able to empty thier checking accounts for the 'right' toned coin.

I think the odds of ever seeing another fresh collection/hoard of dollars to rival the Continental Hoard or the Redfield Hoard is rather small, but you never know!

Dragon

braddick

I agree with Dragon other than to state I believe that total is closer to 95- 98%.

RLinn

Have any of you ever found a single nicely toned coin or two when buying a small estate?