Perfect Examples of Pop.1 and Toning Mania....or Insanity
dragon
Posts: 4,548 ✭✭
HighDesert stated in a thread a while back that some dealers are just not able to control their greed. Wondercoin also asked where do you draw the line on toned coins. Here are 2 excellent examples IMO.
Look at Ebay item numbers 1323798086 and 1323734590
I have seen that 1884-O and it is a neat coin for a very common date, but not worth ANYWHERE NEAR $7500.00 IMO, maybe 1/2 that much at best, but it is that magical pop.1 so.......
As far as that toned 1882-S goes, that's about 50 times bid for color. Even to a diehard toning person like me, that price is insane for a common date 64 with pretty color (and I've seen better). I have sold coins just like that in the past for $400-$450.
So to answer your question wondercoin, YES, there is a line in the sand that goes from 'high premium & worth every penny' to 'rediculous' IMO.
I will be shocked if either of these coins sell, but stranger things have happened.
Dragon
Look at Ebay item numbers 1323798086 and 1323734590
I have seen that 1884-O and it is a neat coin for a very common date, but not worth ANYWHERE NEAR $7500.00 IMO, maybe 1/2 that much at best, but it is that magical pop.1 so.......
As far as that toned 1882-S goes, that's about 50 times bid for color. Even to a diehard toning person like me, that price is insane for a common date 64 with pretty color (and I've seen better). I have sold coins just like that in the past for $400-$450.
So to answer your question wondercoin, YES, there is a line in the sand that goes from 'high premium & worth every penny' to 'rediculous' IMO.
I will be shocked if either of these coins sell, but stranger things have happened.
Dragon
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Comments
1882-S
But this is the part that bothers me, right at the top of the description:
In today's economy, strictly graded quality rare coins (nicer PCGS and NGC coins) are safe and great buys. And they won't take you for a ride like the tech stocks...
Practically begging for a visit from the SEC.
Here is my question to you on the 1882(s)? Why is this coin only in a PCGS-MS64 holder? Let's at least give this coin an MS65 grade on eye-appeal alone-no? The coin appears to have very few marks anyway-right? Is PCGS "concerned" about this color-hence the relatively low grade? If this coin was in a PCGS-MS65 holder and the "premium" would then be only 25x for color, would this coin be a buy consideration for many more collectors? If yes, is PCGS then really keeping this "color thing" somewhat "in check" by awarding such low grades? Look forward to your thoughts
Sorry but we can't start handing out grades for color. That 82-S looks like a 64 from the pic and should rightly be graded as such. You would be surprised actually how good of a job dark toning does at hiding ticks and abrasions on dollars in many instances. PCGS is already nice enough in that they give the "benefit of the doubt" to many "liner" coins that have attractive toning and that's as far as it's going to go.
The toning on that piece also looks 100% real and I don't believe that PCGS has ever or would ever holder a coin with questionable toning (in their opinion) and then downgrade it a point or 2 becuase of that. To those that believe this is the case, they probably just aren't seeing something on the coin that PCGS picked up on, hence the grade assigned. After all, one of the reasons that coin doctors AT coins is to hide problems, right?
Dragon
Dragon, thank you for the reply on why PCGS does not grade based on price of coins to keep everything in line with the registry. Amazing that people even collect coins anymore.
1896 NGC64 $2000.00
1884-O PCGS64 $1650,00
1881-S PCGS65 $2900.00
1880-S PCGS65 $2400.00
Are you kiddin me??? $3K for an 81-S in 65?? Are people going mad or am I losing touch with the toned coin market? That just seems way out of line no matter what the coin looks like.
Now who was it on this forum that said several months ago that the toned coin market is DEAD and that once everyone discovers that nearly all toned coins are fake, nobody will want them.....hmmmmmm, Mr. Warren LOLOLOL!!
Dragon
Now we're getting somewhere, 50x value for color may be crazy for a gem common date dollar!! Do I hear 40x?
<< <i>am I losing touch with the toned coin market >>
Howard those were my exact words also, but as long as people will pay these prices I guess this will be the market.
When he starts talking about how these coins are "safe and great buys" and that they have "great future potential" my hype meter starts ticking. Show the coin, mention the population statistics and let the coin sell itself. I personally can do without all the speculative mumbo-jumbo.