Why doesn't toned Southern gold sell for a premium?

Longacre

I was looking at a dealer's site, and he had this coin for sale. I like my gold with a little color, and I find this coin to be attractive (please note that the picture is not the best, and this dealer's coins are much better in person).

Why doesn't toned Southern gold sell for more of a premium? If this was a silver coin, it would sell for Moon Money.


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1853-C $1.00 NGC AU-58 8/15 34/42 4500 $3,750 NEW
Beautifully toned gold coins still do not receive the attention that they deserve. If a common silver coin has superb color, it can sell for huge multiples over a typical untoned piece. But if a gold coin, such as this, has great color, it typically brings little if any premium. This superb 1853-C gold dollar has fiery orange-gold color in the obverse fields and at much of the central reverse. The underlying surfaces are quite frosty and this luster illuminates the aforementioned color. Under light magnification I note a small dig along the outside of the 3 but the remainder of the surfaces are very clean and choice for the grade. The 1853-C is a much scarcer issue than the 1851-C and the 1852-C but it does not sell for a huge premium, making it an excellent choice for the type collector seeking a single, higher grade Charlotte gold dollar for a type set.

airplanenut

Extraordinary color on gold is not typically all that colorful; on silver, it's electric and multi-colored, giving an extremely different look from an untoned piece. People looking for something that is very eye-catching will go for the rainbow.

Mark

Another factor to keep in mind about that particular coin is that it's a one dollar coin, which means it's about as big as a a fingernail. I think smaller coins receive less "respect" than do their larger cousins.

I also agree with Jeremy that toned gold is not too much from dipped gold, whereas colorfully toned silver is quite a bit different from dipped silver.

But Longacre, as a collector you ought to be happy that this coin doesn't go for moon money. If you manage to convert more people to Southern gold, the prices might soar, an outcome that might not be in your favor.

CharlotteDude

Longacre,
I think originally toned gold does go for premiums. If what you mean by toned as still having most of its original color. The '53-C $1 you have up top is WONDERFULLY original, but the surfaces look a little hacked up, which is probably the reason it's being offered so cheap. I consistently see a difference in price for, say slabbed AU-55 coins (C, O, or D mint, that is) that somehow, by the grace of all that's good, still retain their original skin. Usually such coins will go for STRONG '55 to '58 money, and yet a dipped out, lifeless example will go for closer to AU-50 money.

the 'dude

RYK

<< <i>Longacre,
I think originally toned gold does go for premiums. If what you mean by toned as still having most of its original color. The '53-C $1 you have up top is WONDERFULLY original, but the surfaces look a little hacked up, which is probably the reason it's being offered so cheap. I consistently see a difference in price for, say slabbed AU-55 coins (C, O, or D mint, that is) that somehow, by the grace of all that's good, still retain their original skin. Usually such coins will go for STRONG '55 to '58 money, and yet a dipped out, lifeless example will go for closer to AU-50 money.

the 'dude >>



I agree with "the 'Dude".

An original, properly graded southern gold coin will sell for Trends money (if not higher) in a heartbeat, while a typical, dipped and maxed out piece will linger in inventories, circle the blocks a few times at Heritage, etc. before selling at 50-60% Trends to someone who does not yet know any better.

Gold coins are already relatively expensive, so the premium in absolute dollars may be high while the percentage is low (compared to MS-63 common date Morgans, and the like). Similarly, wonderfully toned MS and proof seated coins sell for little percent premium to the typical example, but they are often already relatively scarce and expensive.

FatMan

That's a great looking coin. I liked it a lot when I saw it on the dealer's website. As to the question at hand I agree with the comments above. To simplify, type I gold dollars are too small to get much of a following, and gold doesn't tone in technicolor.

TWQG

I must be the only one who finds that dollar exceedingly ugly.

RYK

<< <i>That's a great looking coin. I liked it a lot when I saw it on the dealer's website. As to the question at hand I agree with the comments above. To simplify, type I gold dollars are too small to get much of a following, and gold doesn't tone in technicolor. >>



I would not be surprised if you have also seen the coin in person.

TheRaven

I would say simply because there are less collectors for gold coins then silver coins and because colorful gold coins aren't rainbows.....

Basically everything has already been said above.....

A nice little coin.....