Monster morgan discussed here opens at $4500

pharmer · February 20, 2005 10:22PM

A pic of this was posted by someone last week, I guessed it might get up to $2000, someone else thought higher, and it has opened at $4500 in the Goldberg auction. On the TCCS forum, some are guessing it will break the record. For your bidding convienence, it is also on ebay for another 5%. 1881s pcgs 66.

Sunnywood · February 20, 2005 11:27PM

[reprinted from the TCCS forum]

Because the coin is on the catalog cover, big egos will want to buy it. Also, a high price is easier to justify on resale, because the new owner will be able to point to the catalog cover and the public auction sale. That is one reason why auction toners sometimes run away, bringing prices that could never be achieved in a private sale.

If someone offered me that coin privately, I could never justify more than $3200 or so. However, at public auction, and being on the catalog cover, I predict a hammer price in excess of $6000, eclipsing even the 1887-P from the recent FUN Superior sale.

Sunnywood

Steve27 · February 21, 2005 12:12AM

Has anyone actually seen the coin (I would like to know if the colors are accurately represented in the image)?

ArtR · February 21, 2005 12:17AM

<< Has anyone actually seen the coin (I would like to know if the colors are accurately represented in the image) >>

coingame2000 has seen the coin and said the coin looks like the image

BigD5 · February 21, 2005 12:51AM

<< Has anyone actually seen the coin (I would like to know if the colors are accurately represented in the image)? >>

My experience with Superior is that their images are tweaked to the MAX, and I've found them to be the worst, in comparison to what the coin looks like in hand, out of the major auctioneers.

My experience, and I'm sure others will have differing opinions in that regard.

With that said, I imagine the subject coin is quite attractive, and probably has the mint luster and "blast" that goes along with the date to really emphasize the colors on the coin. That doesn't mean I don't believe Superior cranked up the contrast for their pic.

ER · February 21, 2005 12:53AM

Ugly. JMO.

TheRaven · February 21, 2005 1:30AM

A coin that will bring a super high price that is for sure.

Not something that I would go after, I generally prefer my Morgans to be white.

coingame2000 · February 21, 2005 1:39AM

I saw this coin a couple of weeks ago and it does indeed look like the image. To be quite honest, I was surprised that the color was so accurately represented by the image. In regard to price, I was prepared to pay $5,000 for it but it has already surpassed that figure when you factor in the buyers premium so I guess I won't be the new owner...DARN!!! Oh well, there will always be another gorgeous coin to buy.

Mike

Dennis88 · February 21, 2005 1:52AM

Overpriced crap.

mrearlygold · February 21, 2005 1:53AM

Jeeez thousands of dollars for an old silver dolar with all that tarnish.

Who wudda figered?

Tom

Nocerino18 · February 21, 2005 1:55AM

What a waste of money. I would rather buy a nice XF Bust Dollar

mrearlygold · February 21, 2005 1:57AM

<< What a waste of money. I would rather buy a nice XF Bust Dollar >>

Nocerino!

Tom

Nocerino18 · February 21, 2005 2:00AM

C'mon, very nice beautiful coin, but $5,000.00. That is one too many zero's for that coin.

mrearlygold · February 21, 2005 2:35AM

Sorry, I wouldn't pay todays numbers for bust dollars nocerino !

But then again I wouldn't pay these numbers for toned Morgans either!

Tom

coynclecter · February 21, 2005 2:51AM

Nice 66, a good coin for 5-600. Save 5 grand and buy a rainbow light.

Myqqy · February 21, 2005 3:13AM

Nice 66, a good coin for 5-600. Save 5 grand and buy a rainbow light.

I concur....

relayer · February 21, 2005 3:16AM

It's pretty. Not $6,000 worth of pretty, but pretty

anablep · February 21, 2005 3:40AM

Not worth $6000 IMO.

I'd rather get a key date in lesser condition.

Sunnywood · February 21, 2005 8:46AM

What interesting replies to this thread. Mostly negative, dismissive, etc. That's why I rarely post here anymore. (Not to mention the personal attacks, etc.) I could just as easily be negative and dismissive of "overpriced crap" collected by others. Obviously, the value of collectibles is subjective, and is determined by the field of interested buyers. In the case of this coin, which looks quite exactly like the photo, most of you are simply not up on where the market is, because you don't collect these coins. Just watch the sparks fly and see how wrong you all were. I could profess equal astonishment at the prices paid for PR70DCAM state quarters, or most post-1933 Registry coins, or even proof gold (which is getting quite grossly priced indeed). In fact, the prices for patterns, Buffalo nickels, Bust dollars - hey, just about everything, are UP.

A lot of you can only believe what you read in the sheet. The sheet puts prices on DMPL Morgans, but not on rainbow-toned Morgans. Toning is vastly more difficult to grade and characterize, so there is no readily accessible list of values. But make no mistake about it, there is a market segment for beautifully toned coins, particularly Morgans, just as there is a market segment for DMPL Morgans, or rainbow-toned type and Commems.

Just because you don't collect it, or you don't understand, does not automatically confer upon you the right to disparage it. (Actually, you have the right to disparage anything you want. And I have the right to buy and own the pretty coins while you grump about it.)

Best,
Sunnywood

fountainheadgold · February 21, 2005 8:56AM

Russ · February 21, 2005 9:00AM

Yea verily, Sunnywood!

Russ, NCNE

dragon · February 21, 2005 9:02AM

In my opinion and my opinion only, I don't care if that coin was on the front page of the New York Times, The Chicago Tribune, and The Washington Post, it's not a 6000.00 coin.

I've always been a diehard collector of nicely toned Morgans and defended their strong prices, and have had more than my share of really nice ones, but if a coin like that brings over 6000.00 then we truly have reached a 'bubble' cycle for toned coin prices in my opinion.

darktone · February 21, 2005 9:06AM

I like it and if I had the extra money I would try to own it. mike

kryptonitecomics · February 21, 2005 9:08AM

I like it for the opening price......it's out of my price range even at that, but I feel very comfortable that this is a $4000 to $5000 dollar coin and it's going to take more than that to own it. I am sure who ever ends up with it will be very happy adding that to his or her "A" box

Tonekiller · February 21, 2005 9:41AM

Very good post Sunnywood....see you in LB.

Brayn

fountainheadgold · February 21, 2005 10:40AM

As mentioned it very well could be a record breaker

morgannut2 · February 21, 2005 10:42AM

Good post Sunnywood. Although I disagree about your opinion on DMPL Morgans. Why? What if the coin was the same near flawless preservation, with the toning AND it was a DMPL. Care to guess the starting bid??

cohodk · February 21, 2005 11:22AM

Very good thoughts Sunnywood.

Not to disparage just compare.........Dont some 30yr old Ike dollars sell in excess of 5k? without all that wonderful tarnish?

anablep · February 21, 2005 12:11PM

I stand by my opinion. $6000 on that coin is silly. I don't care what anyone else does with their money. I know enough not to spend $6000 on that coin.

bestclser1 · February 21, 2005 11:06PM

Beauty is in the eyes of the beholder.I would love to beholding that coin!

agentjim007 · February 21, 2005 11:30PM

The chances are that coin looks like that under certain lighting and at a specific angle.

Hadleydog · February 22, 2005 12:55AM

The chances are that coin looks like that under certain lighting and at a specific angle
Actually, the coin looks very close to the image.
Wicked coin, no doubt about that. As to it's final price, well we shall see what the market dictates, won't we. Will it be worth what it sells for? The answer is yes for at least 2 bidders.

Russ · February 22, 2005 1:27AM

<< Dont some 30yr old Ike dollars sell in excess of 5k? without all that wonderful tarnish? >>

A 1972 MS66 Type 2 just sold on Teletrade for over $10K with the juice.

Russ, NCNE

fountainheadgold · February 22, 2005 11:16AM

<< 

<< Dont some 30yr old Ike dollars sell in excess of 5k? without all that wonderful tarnish? >>

A 1972 MS66 Type 2 just sold on Teletrade for over $10K with the juice.

Russ, NCNE >>

Between the Ike for 10k and the morgan for close to the same , i choose the morgan

Newmismatist · February 22, 2005 1:37PM

<< 

<< Dont some 30yr old Ike dollars sell in excess of 5k? without all that wonderful tarnish? >>

A 1972 MS66 Type 2 just sold on Teletrade for over $10K with the juice.

Russ, NCNE >>

Well, that "rare" Ike is valuble because someone says that it's their opinion that it's a "66" - That Morgan is valuble because anyone can, without the aid of another's opinion, determine that it's a stunning coin.

Edited to Add: It sold for $8,500 + 15% for a Total Price of $9,775 - so those who thought it wasn't worth $6000 were right - is was worth 66% MORE than $6K.

Russ · February 23, 2005 12:19AM

<< Well, that "rare" Ike is valuble because someone says that it's their opinion that it's a "66" - That Morgan is valuble because anyone can, without the aid of another's opinion, determine that it's a stunning coin. >>

That argument doesn't quite work. It almost does, but not quite. The realized price of the Morgan had a hell of a lot to do with the grade, in addition to the color. These see more than a linear increase in value in gem or above grades. At MS64, it would have done well but likely would not have brought more than $2k to $2.5K. Thus the "opinion" that the coin is an MS66 was also a big part of the selling price in the case of the Morgan, just as it was with the Ike.

Russ, NCNE

dbldie55 · February 23, 2005 12:24AM

<< 

<< Dont some 30yr old Ike dollars sell in excess of 5k? without all that wonderful tarnish? >>

A 1972 MS66 Type 2 just sold on Teletrade for over $10K with the juice.

Russ, NCNE >>

That was a Type 1, not a type 2. There is an open offer for around $13,000 for a type 2 by a forum member.

Russ · February 23, 2005 12:52AM

You're right, it was a Type 1. I stand corrected.

Russ, NCNE

monsterman · March 1, 2005 1:47AM

well

back to school for you nay sayers...i think the coin is worth at least 9500.......well at least to the under bidder....and more to the winner

live and learn or the world will pass you by

monsterman

scher · March 1, 2005 1:56AM

Im with Sunnywood and Monsterman...not sure if its my cup of jo but different strokes for different folks..bet it sells high.
bruce scher

tradedollarnut · March 1, 2005 2:25AM

I saw the coin in the purchaser's case at the show. It was worth every penny of what it took to buy it.... and then some. He'll make a profit on that coin quite easily.

Coins like that appeal to a segment of the buying population that DON'T CARE what resell value is. They buy it because they like the look of the coin and put it away.

PQpeace · March 1, 2005 2:38AM

Colored coins are like paintings..
people pay thousands of dollars for ink on paper if it makes them happy to look at.
I have been to art auctions where people have paid tons of money, for in my opinion ugly paintings.
When it comes to coins,if you love looking at it and owning it,it becomes art..
That is a beautiful morgan,and it is worth what someone wants to pay for it

Larry

BAJJERFAN · March 1, 2005 2:42AM

What did it sell for and who bought it?

monsterman · March 1, 2005 2:51AM

well said larry....i do believe i subsribe to your way of thinking....my name isnt monsterman for nothing!!! lol

monsterman

btw..i saw one of my old coins in the lb auction...they are rare to se seeing as how 46 of them were upgraded within 3 months of the sale and the pedigree removed :-)

Newkid · March 8, 2005 9:38AM

Can anyone give me some auction results on this coin or better yet post
a linky??

ER · March 8, 2005 9:41AM

Did it close at $8500?

Newkid · March 8, 2005 9:46AM

I`m not exactly sure. I was hoping to get some feedback.

Coinhusker1 · March 8, 2005 9:48AM

Newmismatist edited his thread a while back and reported it sold for $8,500 -- $9,775 with juice.

Newkid · March 8, 2005 10:51AM

Thanks for the feedback everyone.

Monster morgan discussed here opens at $4500

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