How much value does toning add?

Yorkshireman

This forum thread shows the sale of a common Morgan dollar with uncommon color selling for Moon money!



Maybe I should consign my amazingly toned Specimen Canadian dollar to auction.

Picture to follow



https://forums.collectors.c......&enterthread=y

brg5658

The Morgan posted in that thread sold for $6K, which, yes, I would consider moon money. But, this isn't new.



About a year ago, an 1882-S PCGS MS65 Morgan (uber-generic date and mm) with some color (pictured below) sold for $14K in a Legend sale. I was speechless -- major "facepalm" reaction.

pruebas

I think it depends on the individual and what they are doing.



Personally, I won't pay extra for toning except where it indicates original surfaces.

JCMhouston

Buyers of US generics pay absolutely crazy money for toning, often 10x retail. Unfortunately as some of them migrate to world coins you will start to see this more and more. I've seen a number of US dealers moving into world coins and trying for the same crazy premiums.

pruebas

Originally posted by: JCMhouston

Buyers of US generics pay absolutely crazy money for toning, often 10x retail. Unfortunately as some of them migrate to world coins you will start to see this more and more. I've seen a number of US dealers moving into world coins and trying for the same crazy premiums.

Trying? People are buying these coins and paying those premiums! Some of them post here.

Weiss

I proclaim that I'm not a fan of toning. And I've convinced myself I believe it.

But the truth is that I like pieces with exceptional eye appeal. That could be a beautiful design, an exceptionally rare or historically important piece, or one where tone really sets off those other elements to bring the coin to an entirely different level.

Three of the pieces from my box of 20 are darkside pieces with exceptional toning. One is apparently unique, so it's difficult to say how much the tone added to the price. Another I don't believe I paid any extra over and above its regular price range.

This trade dollar I paid a premium for. Like an insane premium. Like multiples of what a regular white coin would bring. But it's also in a fatty, so...

neildrobertson

Originally posted by: JCMhouston
Buyers of US generics pay absolutely crazy money for toning, often 10x retail. Unfortunately as some of them migrate to world coins you will start to see this more and more. I've seen a number of US dealers moving into world coins and trying for the same crazy premiums.

Ugh, I know. It's already started to cause me some grief. Most world coin collectors (including people not in the US) don't seek out toning like many of us Americans do.

7Jaguars

While Weiss had a nice coin, the toned coin craziness is absolute madness. I am glad this market is there for everybody who takes an interest. Having more than just a bit of chemistry background myself, I question the NT/AT business. Much of what is termed "NT" is anything but that, but as long as there are suckers to get pulled in and pay many multiples of the coin's worth more power to them.

I guess the other pet peeve is the "First Strike" nonsense, where coins sold as such have no guarantee as being what is purported but are rather a label gimmick to bring supposed added value....

brg5658

Originally posted by: JCMhouston

Buyers of US generics pay absolutely crazy money for toning, often 10x retail. Unfortunately as some of them migrate to world coins you will start to see this more and more. I've seen a number of US dealers moving into world coins and trying for the same crazy premiums.

The 1882-S Morgan I posted had a PCGS guide value of $140 at the time of the Legend sale. That's a 100x premium for the "purdy colors".



Don't get me wrong -- I have paid 5-6x premiums for a coin with exceptional eye appeal/color, but 100x is out in la-la land. But, $14K for a lot of investor-collectors is a drop in the bucket I guess. For me $14K is right around my total annual coin budget -- but I don't consider myself an "investor" at all.

asheland

I like that trade dollar.

TwoKopeiki

A bit of controversy when it comes to toners.



Yes, there is a market for toned world coins. Because of this, there are specialized sellers targeting that market. These sellers spend time and effort to track down premium quality toned examples and add what we consider to be crazy premiums to the final price as a result. Thankfully this is not yet a world-wide phenomenon and folks like me who can't justify paying many multiples of current market price can spend their own time hunting down affordable raw toned examples.



And yes, I like toners and have paid premiums for the color in the past. But only for 2-3 of my coins out of ~60 I own. It's all about the hunt

coinkat

Depends on the coin, the degree of the vibrant color...

7Jaguars

10x value? Rubbish.

brg5658

Originally posted by: 7Jaguars

10x value? Rubbish.

If it's a $3 coin, I'll gladly pay $30 for a beautifully toned gem example.

mudskippie

If it's a $3 coin, I'll gladly pay $30 for a beautifully toned gem example.

Lol, I do that all the time!