Question on Binion $ Premium???

ClausUrch

Any of you toned Morgan Collectors have an idea or rule of thumb one can put on a premium mark up for a Binion Dollar?

Binion Obverse
Binion Reverse

agfox

Not much. I don't even think PCGS will put Binion on the holder as it's not a collection per say. Think it's just NGC that does.

FC57Coins

Personally I haven't paid much attention to them because they just seem to be hyped up low end MS coins. I wouldn't pay much of a premium for the particular coin that you're showing based on it's status as a Binion coin. What you decide to pay for it should be a factor of how much you like the coin. I think you can get this same type of coin out there without the hyped label.

Frank

ClausUrch

Thanks guys...What I needed to know!

Dog97

I just bought one from MBCoins that PCGS lists as a $125 coin & I paid $180 for it but it has several things going for it.
#1 Pedigreed holder. very very small prem
#2 8 TF; First of 3 reverses for that year. more prem
#3 1878; First year of issue. more prem.
#4 Attributed VAM 6 which has a lot of minor doubling. slight prem.
#5 Original tone. more prem.
#6 Some cloth pattern in the tone. bigger prem.
#7 Lowly MS62 grade so I got it cheap.
Though it's not a "monster" by the usual standards it's a monster to me because of the 7 reasons I listed. I would have liked to have got it a little cheaper but I had to outbid 13 other bidders so that means nobody else thought it was as desirable as I did. An interesting coin that found a good home.

paigowjohnny

I don't think much of a premium now...although I think the nicely toned ones go for more than non-toned......but who knows. Look at the prices Redfields are getting now...30 years after the fact.

Disclaimer...I own 2 Binions....but I like "hoard dollars"...GSA, Redfield, Binion.

MrLee

Dog. Nice toning on the Binion. It looks better then 62 though. Could that be a rare undergraded Binion?

Dog97

No.
I called myself waiting until the hype died down and the price dropped so I looked at Teletrade to see how much they sold for and what kind of good deal I got and SURPRISE SURPRISE either I paid a good prem or it undersold at TT.

agfox

I still like the coin Dog, even seeing it all play out like that. I just got my toned from mbcoin today and I'm very happy with it as well. Although the graders must have been having a real good day on mine, I'm sure it's overrated a point.

Mojoe

I could be wrong, but I don't pay more than a 25% premium for any toned coin. The Binion coins did sell for reasonable prices on Teletrade. I picked up four ms64's- some had rim toning and some crescent toning. If I see a coin at a show and feel I just can't live without it, the 25% rule is pretty much out the window. It's just a guideline-not one of the ten commandments.

Bear

Dog-97 - Nice coin and sure seems undergraded. While I would not pay 2 cents for the

Binion cachet. I would pay a pretty penny for a nicely toned and pleasing coin as you purchased.

Knowing your reputation for a sharp eye, I bet on a regrade, the coin will go MS 64.

Dog97

No way that beat up piece of junk will go 64. Look at the large hit on the eagle and the beat up face on Liberty. If you ask me it's overgraded like it is.

stman

Dog, You probably propped up the Binion dollar when scanning it to show the color, that's why it looks like it will grade better. Also scanning at low res will not show the marks as well.

MrKelso

I purchased a few and i didn't notice a premium built in. The ones i purchased were not toned. Maybe the premium was for toned coins?

JLW

Like it or not, they do carry a premium. I think most people like the colorful story behind them. For those that haven't seen it, here's a link to the Binion site:
Binion