Rainbow toned 84-CC.....what's it worth?

NumisEd

I must first apologize for not have an image of the coin we are about to discuss, but I am just looking for some general guidance. I went to a local dealer yesterday. He had one GSA Morgan for sale, an 1884-CC. I would grade the coin as a 63 or 64, but the reverse had spectacular rainbow toning. The entire reverse was toned and I assume that it was bag toning. Lots of reds, greens, purple, etc. The obverse is white.

Now, what kind of premium does a toned 1884-CC morgan bring? If I purchase the coin, should I remove it from the GSA holder, or is it worth more in the holder? I hate slabs, so I will probably remove it regardless.

The dealer just bought the coin and did not have it priced. He suggested that I "make and offer", which I intend to do today.

Thanks, Ed

jbsteven

keep it in the holder. if it has a large amount of nice looking toning then my GUESS would be between $250-600 just depending on the toning. no toning then $120.00

Gsaguy would know this value better.

NumisEd

So toning on a GSA could double the value (over CDN)??? Thanks, Ed

Dog97

It is bag tone, the only Morgan tone that is original.
Unless you just want a raw coin to display in a Capital holder or Dansco album it's worth more in the GSA holder because out of it it's just another toned Morgan.

Steve27

Here's an example for you Link to ebay auction for toned GSA 1884-CC Morgan.

jbsteven

just a little toning on this one

NumisEd

Thanks for the links! The coin I am considering looks like Steve27's link, except the reverse toning is very consistent and even. I have never slabbed a coin before, but is it worth getting a GSA coin into a PCGS holder? Let's say that the 84-CC that I am talking about is an MS-64 with the reverse toning. What's that worth?

Tonekiller

NGC is now grading GSA's and keeping them in the black holders. PCGS will take it out of the GSA holder......and the coin will loose value.

TBT

Dog97

Minor rev tone does not adds little prem. $150-$200 in the GSA holder and whatever sheet price is in a PCGS holder.

Steve27

I agree with TBT, whatever you do, don't remove it from the GSA holder. If it were a very high grade coin (i.e. 66 or above), I might consider the NGC route, but not for a 64. As to value, it's very subjective on toned coins, which is why the dealer wants you to make an offer.

gsaguy

I've not found that reverse toning brings a significant premium although really spectacular toning would command a higher price.

It's unfortunate that the dealer asked you 'to make an offer'. If he's offering the coin for sale, he should put a price on it. If he doesn't want to sell the piece and you're pestering him to buy it, then it would be okay for him to ask for an offer.

TBT is right. NGC is now certifying GSA's in the original holder. I'd recommend you keep the coin in that holder.

As for value, if it's a 63 or 64 grade coin, I'd say it should be in the range of $150 - $200....again, depending on the quality of the color.

Hope this helps.

GSAGUY

NumisEd

Thanks to all for your help. I will offer $180. Ed

MadMonk

My Opinion. I put a significant premium on the Obverse Toning. That to me is Prime.
I have purchased pieces with killer rev. toning, but will not pay real good money for them. (unless I know I'll regret the decision not to buy, which in hindsight is very rare in my case)
So, thats my two cents.
Good luck with whatever you decide.

dorkkarl

180 sounds a tad strong to me. original papers? i seldom see toned morgans in gsa's, so some premium is in order, but this has got to be just about the most common date out there.$120 is about what i might have guessed.

K S

oreville

What are the numbers now on this issue?

ER

Oh, hell.

RNCHSN

Greysheet bid is in the $185-$200 range on a 63/64. That's a VERY fair price to get from a dealer in his shop.

RNCHSN

I have a GSA 85-CC with a nice reverse crescent, rainbow toning and haven't had much luck getting a premium price.