Searching for Gem Toned Dollars in Baltimore Auctions
gemtone65
Posts: 901 ✭✭✭
The past 2 years at ANA haven't been particularly successful for me. Two years ago many toned dollars were available, but not at prices I thought were reasonable. Then last year there was almost nothing of top quality to be bought at any price. So, this year I decided to change my strategy.
That was made easy by the unprecedented arrival of 6 separate auctions or showings in or near the show. I decided to focus my search on the Morgan dollars in these sales. I set as my goal the acquisition of the very best gem pieces, from the perspective of eye appeal, in these 6 sales.
I spent the previous week reviewing the catalogs: Scotsman, Heritage Signature and Bullet Sales, American Numismatic Rarities, Superior, and Bowers and Merena. Neither ANR nor B& M had much in toned dollars to offer. Heritage's Bullet sale had many low grade and overgreaded pieces. This last statement is actually a compliment, because Heritage filtered out these coins from their Signature sale, where many possibly beautiful gem pieces were offered. Superior also had a nice selection, and scotsman had a couple of pieces worth looking at.
For those of you who are interested, the lots that I selected from the catalogues for more careful personal scrutiny were these 40 or so gem toned dollars:
Heritage Signature: 8459, 8461, 8491, 8492, 8494, 8497, 8526, 8529, 8531, 8533, 8534, 8553, 8567, 8603, 8606, 8650, 8687, and 8697.
Heritage Bullet: 2825
Scotsman: 433, 459
Superior: 328, 329, 338, 340, 347, 354, 356, 358, 361, and 366.
One thing I was curious about was whether I would identify any gem toned dollars in person that I couldn't find from the scans. The answer, as it turned out, was no. So, this clearly indicated that the internet pictures can be used to identify coins to do further research on.
After reviewing all these coins plus 2500 other Morgans over the weekend, I narrowed my list to these;
Heritage Signature: 8461, 8491, 8492, 8526, 8567, and 8606
Scotsman: 459
Superior: 338, 354
The Scotsman sale was held Friday night. I thought that lot 459 might be the best of the bunch. The cataloger descibed this PCGS65 1881-s as "possessing some of the most lively multi-colored toning ever witnessed. Flamboyant, stained glass window effect portraying every single color of the spectrum in a simply fabulous array."
This description wasn't far off the mark. The auction itself was reasonably well attended, but the big toned dollar players were missing. Perhaps that was because the auction wa sheld about 30 miles south of Baltimore at a regional show. Anyway, I viewed that as decidely in my favor as a bidder.
I decided I would bid up to a price of $1100. (All prices here are expressed as hammer prices, and do not include the additional 15% seller's charge these days.) The opening bid was $775, whic was hopeful, but it quickly escalated to $1000. But, by then it was just me and one other bidder. I bid my "last" bid of $1100 following a competing bid of $1050. To my disappointment, my competitor bid $1150. I thought, "just one guy to beat, should I bid?" Then, my paddle shot almost involutarily up, and Bob Merrill, the auctioneer and former Heritage numismatist, pointed to me and said, " I have a bid of $1200." ( Bob probably doesn't remember this, but he visited my home to collect my patterns that I sold with his firm in the 1995 ANA.) I held my breath as Bob called out, "going once, going twice.... sold to biddder 118."
And so, my auction weekend had started very successfully indeed. Now, it was time to begin looking forward to Sunday, when both Hertage and Superior would sell their Morgans at different hotels and at different times. Somehow, the stars seemd to be aligned right for me, and so I was looking forward to the coming battles already.
To be continued.
That was made easy by the unprecedented arrival of 6 separate auctions or showings in or near the show. I decided to focus my search on the Morgan dollars in these sales. I set as my goal the acquisition of the very best gem pieces, from the perspective of eye appeal, in these 6 sales.
I spent the previous week reviewing the catalogs: Scotsman, Heritage Signature and Bullet Sales, American Numismatic Rarities, Superior, and Bowers and Merena. Neither ANR nor B& M had much in toned dollars to offer. Heritage's Bullet sale had many low grade and overgreaded pieces. This last statement is actually a compliment, because Heritage filtered out these coins from their Signature sale, where many possibly beautiful gem pieces were offered. Superior also had a nice selection, and scotsman had a couple of pieces worth looking at.
For those of you who are interested, the lots that I selected from the catalogues for more careful personal scrutiny were these 40 or so gem toned dollars:
Heritage Signature: 8459, 8461, 8491, 8492, 8494, 8497, 8526, 8529, 8531, 8533, 8534, 8553, 8567, 8603, 8606, 8650, 8687, and 8697.
Heritage Bullet: 2825
Scotsman: 433, 459
Superior: 328, 329, 338, 340, 347, 354, 356, 358, 361, and 366.
One thing I was curious about was whether I would identify any gem toned dollars in person that I couldn't find from the scans. The answer, as it turned out, was no. So, this clearly indicated that the internet pictures can be used to identify coins to do further research on.
After reviewing all these coins plus 2500 other Morgans over the weekend, I narrowed my list to these;
Heritage Signature: 8461, 8491, 8492, 8526, 8567, and 8606
Scotsman: 459
Superior: 338, 354
The Scotsman sale was held Friday night. I thought that lot 459 might be the best of the bunch. The cataloger descibed this PCGS65 1881-s as "possessing some of the most lively multi-colored toning ever witnessed. Flamboyant, stained glass window effect portraying every single color of the spectrum in a simply fabulous array."
This description wasn't far off the mark. The auction itself was reasonably well attended, but the big toned dollar players were missing. Perhaps that was because the auction wa sheld about 30 miles south of Baltimore at a regional show. Anyway, I viewed that as decidely in my favor as a bidder.
I decided I would bid up to a price of $1100. (All prices here are expressed as hammer prices, and do not include the additional 15% seller's charge these days.) The opening bid was $775, whic was hopeful, but it quickly escalated to $1000. But, by then it was just me and one other bidder. I bid my "last" bid of $1100 following a competing bid of $1050. To my disappointment, my competitor bid $1150. I thought, "just one guy to beat, should I bid?" Then, my paddle shot almost involutarily up, and Bob Merrill, the auctioneer and former Heritage numismatist, pointed to me and said, " I have a bid of $1200." ( Bob probably doesn't remember this, but he visited my home to collect my patterns that I sold with his firm in the 1995 ANA.) I held my breath as Bob called out, "going once, going twice.... sold to biddder 118."
And so, my auction weekend had started very successfully indeed. Now, it was time to begin looking forward to Sunday, when both Hertage and Superior would sell their Morgans at different hotels and at different times. Somehow, the stars seemd to be aligned right for me, and so I was looking forward to the coming battles already.
To be continued.
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<< <i>After reviewing all these coins plus 2500 other Morgans over the weekend, I narrowed my list to these;
Heritage Signature: 8461, 8491, 8492, 8526, 8567, and 8606
Scotsman: 459
Superior: 338, 354
>>
Gemtone:
judging from the prices realized I have to guess that you're in possession of at least numbers 8491 and 8492 of heritages sale, (which is the only catalog/sale I was able to follow). The others went for at least reasonably strong money, but perhaps they warranted it. I look forward to the next installment.
BTW, I was curious if the 67's on the list truly were, in your eyes, 67's. 8650 really looked quite intriguing to me, i wondered what kind of price you had that one topped off at??..
thanks, it's always great to see from the inside how the masters operate.
z