Monster Toned Morgans bringing Monster Prices

eagle7 · February 27, 2003 6:39AM

Wow, check out Heritage auction site and look at the prices for monster toned morgans in their LB Sig sale. For instance lot number 7273 is a PCGS 63 81-S and the bid on this coin is 3900.00! WOW!

CLASSICS · February 27, 2003 6:45AM

what?......... ms 63 for 3,900.00 ?.........

dwood · February 27, 2003 6:49AM

Absolute lunacy.

I'm beginning to have suspicions about this "hot market." Something just doesn't feel right about much of what we're seeing this year (This, and FUN). If it's a peak, there's a valley coming, and I'm having a hard time believing this is a depressed market "just climbing back to equillibrium." Something isn't right. I can't explain it, but I feel it.

eagle7 · February 27, 2003 6:55AM

Ron, 4,600 with the fifteen per cent added on for this baby which in plan vanilla would be about 35.00 at best! I agree with Dwood. Something is brewing and stewing out there in computer land. Could it be those folks who ran internet stocks to 3000 dollars a share when the company had never made a penny, are they back with us, only now in the monster toned coin market? Only the shadow knows and he aint talking!

CLASSICS · February 27, 2003 6:56AM

what?.......... ms63 for 3,900.00.........someone once told me, when everyone is buying in a hot market, thats the time to sell. i know people that bought gold @ 800.00 an oz. they still owned it. as the old saying goes..........theres one born every minute.

dwood · February 27, 2003 7:04AM

One of 3 things is happening:

1. Our economy is about to go WAY South.
2. There is some covert manipulation of the market going on.
3. People continue to grow more and more stupid.

Or perhaps, usual favorite:

4. All of the above

CLASSICS · February 27, 2003 7:07AM

dwood.....ill go with number 3

dwood · February 27, 2003 7:10AM

Classics,
That's the odds-on favorite

CLASSICS · February 27, 2003 7:12AM

dwood......you know, #2 sounds very close to #3

CLASSICS · February 27, 2003 7:14AM

eagle7.........what you say makes sence. someone is up to something. or maybe they have more money than brains..sounds like more money.............

K6AZ · February 27, 2003 7:22AM

There is something really fishy going on. I have seen many common 63 and 64 Morgans in this sale going for well over $1000 and many of them I would not classify as "monsters". If there was ever some type of manipulation going on, this has to be it.

dwood · February 27, 2003 11:32AM

It really isn't as far-fetched as it may at first sound. When you think of the number of people who will spend millions on a single coin, and the investment and interests they may have on a particular series or grade, it isn't really a stretch at all. A $34,000 Lincoln proof from 1964? I wonder how much of an impact that will have on the entire Lincoln market? If I had a massive collection, or a targeted collection, it might be very signifigant. $4,000 for a $35 Morgan with some color? Happening enough times, it could have the same impact.

If I had 15-20 million in inventory or in my collection, I'd probably be willing to strategically spend a million or two if it might get me a 10-20% rise in value on my entire holdings. Put 10 or 12 of those guys on the same auction, and all of a sudden, "the market is hot!"

Things that make you go "hmmmm......?"

Morganluver · February 27, 2003 12:15PM

Yes, very interesting. I thought the market kind of peaked a few months ago, but I see there is a resurgence. Many of the toned Morgans were ones that I sold the past year and a half, so I know what they look like in person. Some went for much much more than I expected, and some went for less than I expected, but it's not over yet. This was just round one(internet bids).

MacCrimmon · February 27, 2003 12:24PM

Anyone remember Central States in 1981 ??????????? Methinks it's coming soon!!!! Lots of sales this year by
the "Beeg Boyz"....April 15th LOOMS!!!

Per the old adage, "buy straw hats in January".

MacCrimmon

ANACONDA · February 27, 2003 12:29PM

"81-S and the bid on this coin is 3900.00"...in ms 63

Is that legal?

(I guess that ...see quote above....means that Bryan Sonnier and Bill Gates have way more in common than i thought...)

stman · February 27, 2003 12:42PM

<< <i>should raise my offer of 15K for his common date Morgan in PCGS MS 68) >>

I might have seen this coin today, if it's the same one and I'm sure it is, Sweeeeeeet.

gsaguy · February 27, 2003 2:35PM

I love a good conspiracy.

GSAGUY

Shocker · February 27, 2003 2:47PM

Warm up the oven and put slits in the taties!!! No wonder there are people like Easybake, Easyman, or whatever (whoever). I think I'll be gandering through all the old stuff that I haven't looked at in years to see if there's any $3900 toning going on.

braddick · February 27, 2003 3:22PM

No, no, no. What you guys don't get is this is really an MS64 in a MS63 holder. . .

dwood · February 27, 2003 9:19PM

LOL Braddick...you may be right, in which case its a $50 coin...plus an appropriate toning premium

wayneherndon · February 28, 2003 1:37PM

"81-S and the bid on this coin is 3900.00"...in ms 63

Is that legal?

(I guess that ...see quote above....means that Bryan Sonnier and Bill Gates have way more in common than i thought...)

It gets weirder. Even at THAT price the coin did not meet the reserve and is now available on after auction buy it now for $4600. So, apparently, the NY Eye Appeal Collection had a $4000 reserve on the coin.

WH

Bear · February 28, 2003 1:48PM

I have found that if you go to dealers that specialize in toned dollars, you will get the same color,

much higher grades and much lower price. Such dealers as Tonekiller, Gsaguy and Mike DeFalco

almost always offer a better deal of super toned coins. Some of these auctions have split personalities.

Sky high prices for stuff that is not really worth the cost, and neat stuff that does not even reach

the trigger reserve. It just takes one crazy with deep pockets to run a price up to the sky. I had

a dealer bid in the Superiors Auction on a fantastic toned Antetiam.The posted range was around 1500,

I authorized 5000, my dealer then chased the coin for his own stock up to 7000 and watched as

the darn thing whizzed by him up to 9500 plus 15% fee. Some beautiful things are worth having,

but not at any price. At least for mere mortals like us. I met the dealer who won the coin, I hold no

ill feelings towards him.............................I just want to shoot him. Many, many times.

gsaguy · February 28, 2003 3:08PM

I looked at the infamous 81-S in PCGS MS63. It had decent color (not great color in my opinion), really nice luster which an 81-S should have, but was marked up like a 63 should be.

Nothing about the coin demanded that it bring $3900. In fact, I thought it was worth about $400. Okay, a really big stretch might take it to $500.

I can only conclude that the $3900 price was a high reserve placed by the owner who is either hopelessly in love with the coin, or hopelessly buried in it.

GSAGUY

Bear · February 28, 2003 3:13PM

GSAGUY, I sort of know that feeling on a certain MS63 toned Morgan

I purchased some time ago.By the way, what happened to that wonderful blue and green dollar

you use as an Icon???

gsaguy · February 28, 2003 3:15PM

Bear,

At least yours has MONSTER TONING!

GSAGUY

Bear · February 28, 2003 3:18PM

GSAGUY- What ever happened to that wonderful Blue and green Morgan Dollar

you use as an Icon????If it is available PM me.

RotatedRainbows · March 1, 2003 12:07AM

GSAGUY- What ever happened to that wonderful Blue and green Morgan Dollar
you use as an Icon????If it is available PM me.

LOL!!!!!!!!!!!!!!!! Good luck prying that one away from him.

gemtone65 · March 1, 2003 12:52AM

Bear; You need to get in line for that coin. Not only does it have very special color, the luster is quite amazing. Also, except for a single mark on the face, the surfaces are incredibly clean. When Bryan showed me that coin, I thought that it definitely should be classified as "PCGS tour level" quaility. Why, that coin is so nice I can hardly remember seeing more than 5-10 other coins in GSAguy's personal collection that were more attractive.

billiardmaster · March 1, 2003 1:46AM

Hard to believe. Even an idiot would not pay that. I have some monster colored morgans. Need to find one of these rich guys who pay
way way way way too much for them? I read these numbers but just can't believe them till I sell some of mine at those crazy numbers.
Rusty

eagle7 · March 1, 2003 2:09AM

A few of them wound up in the after auction "bargain bin" but most sold, and for really good money as well! I think in a way it is a good thing for the market, especially for those people who dont mind working hard to "dig up" nice toned morgans where ever they can find them at a bargain price. Then they can be resold in such a venue as this for a reasonable profit. I am now digging myself and am finding a surprising number of bargain coins in PCGS and NGC holders which have really nice original toning, (Attractive Toning). I am very careful to buy the ones which I like. That way if I dont get my price for it I dont mind keeping it!

jeffnpcb · March 1, 2003 2:12AM

Go back to Heritage site and look at the bargains that didn't sell in auction! I can't figure out the pricing on some of these other than stating they are from the Ira Rosen collection. I think Bullwinkle J Moose is sitting they saying "Watch me pull a price out of my hat!"

I just love the bargain prices, I don't know if I should laugh, cry or puke!

Monster Toned Morgans bringing Monster Prices

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