speaking of ms67 grades & green beanie...This morgan $$ sold for $40K, 10x ms67 value!!!
KollectorKing
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Do you think this coin is worth 10x ms67 money even w/a green bean?
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It's a beauty but all that price for color, No
Morgans with this much color on the obverse can and do bring that much money. There have been a few that brought over 30k.
No, especially not when it once resided in a PCGS MS64 holder.
Nope. To each his own. But seems ridiculous.
Of course it's worth it to the person who bought it. If you don't play in this arena it will never make sense. It has nothing to do with "book value". It has everything to do with "replacement" value and " opportunity" value. Throw in pride of ownership or constructing the best toned Morgan collection. I don't own one Morgan but I know a few that collect the kind in the OP. They are savvy and know their market. These have been running up for a long long long while
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
What do you grade this coin?
I would give you $300.00 for it! No more. An extra $50.00 for the CAC sticker!
Sorry the least I'll take is $399+p&i.
I held that coin and bid it up to what felt like a crazy level. It is absolutely a 67 and stunning to behold. Legend was able to attract some bidders that went beyond insane for some of the final sale NL coins, including this one. Obviously the price for these usually depends on only 2 or 3 buyers who may be willing to pay far more than expectations. The resulting price can vary wildly if one those players is missing or a new whale is added to the mix.
I’m sure the CAC sticker added a few $K to the price for the additional assurance that the toning is natural but it certainly didn’t add the full $36K over price guide. .
It's spectacular. I'm not a player but I love the coin.
Lance.
As much as I can't personally relate to the price point, I would say I 'get it' and can keep my eye on the ball. Opportunity cost or value gets mentioned time to time and I've been thinking about it a lot lately. One must really know what's out there or possibly arriving on the market to step up this big.
On another note, I have a 1904-O! Lol it's a 64 and white. Maybe these prices can float all boats?Nah, I know it's not the case.
That's a fair question. If the surfaces are as clean as the photos suggest, I would definitely grade it better than MS64. I seem to recall seeing previous images that showed more contact marks. If I remember correctly, I think my personal grade was MS66 or MS66+ based on those (but of course an in hand inspection trumps all). My comments were targeted at its history. I seem to recall this going from PCGS MS64 to PCGS MS65 before ending up in its current MS67 holder. A three point swing is huge, and since I believe there were additional grading events, I find it hard to believe that PCGS dropped the ball that many times. It seems more likely that the coin was color bumped to its current holder. That's an issue because there is about a 10x premium from a generic MS66 and 4-5x premium from generic MS66+ to generic white MS67 pricing. So that 10x color premium above MS67 really is much, much larger if you consider that it was likely already color bumped. There is a huge price increase at the MS67 level for this issue. That was my point.
Edited to add: I should also clarify my comments were meant to answer the question "is it worth it to me?" Obviously, the market has spoken for this piece in a no reserve auction. It is an amazing coin, but not worth the color premium I think it truly fetched considering perceived color bumps, etc., to me.
While a truly memorable coin, and I have seen it a few times, I hope the new owner is planning to keep it for a long time.
It is spectacular, but let’s face it, the interest in this coin is generated primarily by the eye appeal of the toning. What would the same coin sell for in other grades. Some may say that’s the point, you won’t find another in 67. Others may say you can find amazing coins of comparable eye appeal in lower grades for far less. What would a comparable coin sell for in 66, or 65, or 64?
The coin was a MS67 all day long. The colors-beyond what you normally see and that is where the value is.
Some people may snicker, however history has proven every time someone pays a crazy number for a crazy coin and holds it, they have the last laugh.
You don't lose when you pluck the best (like this) out of one of the best collections ever-Northern Lights of toners.
Wow! Phenomenal color! This goes to show that the market for toned coins is hot! I prefer blast white myself.
I've seen that coin in person, it is all that in hand. Like someone mention, this coin has been in a 64 holder, and I also remember it in a 65 holder. Looks like CAC agrees with the 67, I was thinking 66 when I looked at it, bu that's just me. Not too many 1904-O's tone up like the early S mints, so that no doubt added to the premium.
Just waiting for someone that will say, "oh yeah, I can get one exactly like this going in my lab, it will fool everyone! Results by tomorrow, but I can't show it to you".
10-4,
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The question in the OP is "Do you think this coin is worth 10x ms67 money even w/a green bean?"
It is definitely worth that price to the buyer, and very close to that price for the under bidder. Coins, like anything else, are worth what someone will pay.... and auctions are usually the best venue to achieve these prices. Obviously, the colorful tarnish is the premium driver and for those collectors, it is certainly a prize. Cheers, RickO
There are no price guides for a coin like this. Therefore no multiples to discuss. It's worth whatever an informed buyer is willing to pay. What a monster!
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If you don't think it's worth the money, find another just like it.
I don't mean to be a party-pooper,
but I guess I'm the only one who
doesn't think that is OT on the obverse.
Reverse side, yes.
And, I have NOT held it in my hand;
just my opinion from the photos.
Looks like a proper toning progression pattern on the obverse. The most advanced toning on the obverse is around the rim from 11 to 5 o'clock (the blue). The most advanced toning on the reverse is around the rim from 1 to 7 o'clock, which matches the obverse toning when you flip the coin. So the toning source aligns for the obverse and reverse.
Looks MS66 details, Toned, Net MS75 to me. Isn't that about right, Insider2?
Liberty: Parent of Science & Industry
And "the Market" agrees, well at least the buyer does. The underbidder was only willing to buy it as a MS74.
Liberty: Parent of Science & Industry
thats not for me. just saying
No I would buy a MS69 for that kind of $$$. But what ever floats your boat.
Hoard the keys.
I'm sorry but maybe because of my age I remember when " Blast white " was the rage and now coins that look like someone took a blowtorch to them are deemed acceptable if not sought after... It confuses the heck out of me....
JMHO
Bob
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Not only that, but with $40K, one can buy a house (even in CA), or a fancy car.
The guy paying $36k for a few micrograms of colorful silver sulfite probably already has a pretty nice house and car.
Liberty: Parent of Science & Industry
akreadu=already?
ok, let's try it another way, for $40K one can buy a nice 01-S quarter or a nice 13-S AND a nice 96-S qtr. with or w/out tarnish.
Yes, there are an infinite number of ways to spend $$. None of the rest of us bought this coin either, so we obviously agree with you not to buy it.
But i do recognize that my preference to not buy this coin is Not Relevant to this coin nor the Market for it.
There are an infinite number of other coins we did Not buy, but only a few of them would make for a 5hread as entertaining as this..
Liberty: Parent of Science & Industry
I don’t think a standard price guide has any relevance to the toner Morgan market. You’re comparing apples to aardvarks. I don’t have any interest in it, and 99% if people would think it odd to pay more than a dollar for it.
Horrible color.
Toned Morgan dollars graded with a CAC sticker seem to bring big bucks in any MS grade.
The higher the grade the bigger the Bucks
$40,000 can buy many, or a few beautiful coins, or just one lovely treasure. In any case, hearty congratulations to the seller for top placement of this 1904 Morgan.
Although I agree with Fred about the color, this coin’s premium value, to many, can’t be overstated.
This series has established premium values for color.
But, premiums are generally driven by emotion. If you love colorfully toned U.S. coinage, and would like to see an example of an alternative, something with little-to-no premium that makes a bit more sense, you may appreciate this 1904 two-sided beauty.
(Currently in the HA.com auction #1271, lot #5853)
I've seen that coin in hand Fred. It's all there and a bag of chips
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
For how long will that coin (the one in the original post) look like that?
Smitten with DBLCs.
It's looked like that for as long as I've collected coins. It's a pretty well known coin
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Haven’t seen it in hand, but outrageous color plus no bothersome marks makes this a super coin. Congrats to the new owner!
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