I'm beginning to think "yesterday" was the "good old days".

braddick

It seemed just like yesterday you could luck into finding raw beautifully toned rainbow Morgans. Either in a Dealer's case or on the bourse- they were still out there just waiting to be cherried.
Now, and especially after this last Long Beach coin show, I'm having my doubts.

I first noticed that pricing on these toned Morgans (not the typical- but the true rainbows) have more than doubled in cost since the last Long Beach. And that isn't just based on one or two Dealers tables, but all that I looked at.
Next, the shops in my area have not had any rainbows turn up (raw) for quite some time.
At the Anaheim coin show- about three shows ago, I picked up four nicely toned (lots of green and red!) Morgans, raw, for about $40.00 per coin. (They have since been graded by PCGS). I haven't seen another opportunity like this since.

Is it just a run of bad luck or has the supply of Rainbow Morgans dried up?

lordmarcovan

I had an NGC MS64 common date piece, a few years back that had the most incredible rainbow stripes- not blotches- in an arc on one side of the reverse. There were three distinct bands of color: bright yellow, electric blue, and soft lavender/pink. It was pretty but it wasn't evenly distributed, so at the time it did not appeal to me at all. I actually considered it a detraction. I traded the coin for something else (a Hallmark MS62 1915 Buffalo, I think) Now I see such Morgans selling for insane premiums, and I smack myself on the head for my shortsightedness.

joemon2

Hi braddick- I like toned Morgans too and the prices have really gone up lately. I have a question for you-depending on the degree and type of toning, how much value does toning add to a coin? I realize really vibrant rainbows or attractive end-roll toning is difficult to assess and varies from coin to coin. Maybe 200% to 250% of a coin's base value? Perhaps "yesterday" was the "good old days"! Interesting thread.

BigD5

I'll agree that they're tougher to find. It's almost as if they've all gone into hiding! Demand is up on them, so dealers are asking for as much as they think they can get for them..........sometimes seemingly unreasonable figures. Locally, I can still find attractive, crescent toned pieces, which I prefer, to be honest, on a personal level.
I think toned pieces in general, not just Morgans, are in high demand. If the coin has attractive color, it's going to get scooped up, rather quickly.
this SLQ, with beautiful toning on an extremely tough date to find full head, sold in less than an hour. Makes me think I sold it too cheaply, but who knows?
Your last point concerning timing has a lot to do with things also. That can be the key, as opposed to just having a willing wallet

jom

BigD5: And you didn't tell me this SLQ was available? Hrumph! lol

jom

EVillageProwler

Pat,

I'm not into wildly toned Morgans, but I have been hit by an extreme price hike in one of my specialty series too. I try to chase a few different series so that I always have something on which to blow my money without having to chase ever increasing prices.

EVP

MrLee

<< <i> It was pretty but it wasn't evenly distributed, so at the time it did not appeal to me at all. I actually considered it a detraction. >>

That reminds me of when I bought a couple of the GSA's the Treasury offered back in 1980. One of them had dark cresent coloring on about 20% of the Obv. I thought "Oh great just what I need. A discolored Morgan". Looking at it recently, I see rainbow toning and think, "Man. Did I luck out!".