Just missed on this toned Morgan

[jpcienkus]

I was outbid at the wire on this coin today. I'm wondering if anyone here bought it? I thought it had great luster as well as toning on the reverse. This would have been my first toned Morgan.

 

http://www.ebay.com/itm/1884-morgan-dollar-ms65-ngc-with-star-rainbow-toned-DATED-COIN-/200887382870?_trksid=p2047675.l2557&ssPageName=STRK%3AMEDWX%3AIT&nma=true&si=LGI8h4n0fJlIO49eMc55nkI1jmQ%253D&orig_cvip=true&rt=nc

[AnkurJ]

Strong money for a reverse toner!

[MarkFeld]

How do you know you "just missed"?

[jpcienkus]

How do you know you "just missed"?

 

I was the under bidder. The person who won hit at the last second and won the coin.

[gmarguli]

How do you know you "just missed"?

 

I was the under bidder. The person who won hit at the last second and won the coin.

 

I think what Mark is saying is that you don't know how high the max bid of the winner was. He could have bid 12 million.

[jpcienkus]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

[jpcienkus]

How do you know you "just missed"?

 

I was the under bidder. The person who won hit at the last second and won the coin.

 

I think what Mark is saying is that you don't know how high the max bid of the winner was. He could have bid 12 million.

 

That's true, but up until 5 seconds to go in the eBay auction, I was the high bidder. I also checked the bids and this person only bid once right at the end. He could very well have bid $750 or 12 million at the end. I guess we'll never know.

[brg5658]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

 

Take what Ankur says with a grain of salt. I have seen plenty of "strong money" asking prices on his website, so I think he has little room to make such comments. If you like the coin, bid on it what you think is a reasonable amount. I agree with you that it is an attractive coin, and (for a Morgan) the eagle side is the more attractive side anyway.

[robec1347]

How do you know you "just missed"?

 

I was the under bidder. The person who won hit at the last second and won the coin.

 

I think what Mark is saying is that you don't know how high the max bid of the winner was. He could have bid 12 million.

 

That's true, but up until 5 seconds to go in the eBay auction, I was the high bidder. I also checked the bids and this person only bid once right at the end. He could very well have bid $750 or 12 million at the end. I guess we'll never know.

 

Almost everyone of my winning bids(as well as losing bids) on ebay is my first and only bid on the auction. I always place it when time has run down to under 8 seconds.

 

BTW. I wasn't bidding in this auction.

[$ilverHawk]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

 

My best response is to bid with your gut feelings. Your analysis is spot on. Reality is that your bid was short. $5.00 or $100.00 doesn't make a difference. If you actually want the coin, go for it.

 

The toning premium is very often difficult to assess. Obverse toning usually carries a higher premium than reverse toning. But as you have discovered, reverse toning also carries a premium bid.

 

Welcome to the realities of auction bidding.

 

Carl

[jpcienkus]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

 

My best response is to bid with your gut feelings. Your analysis is spot on. Reality is that your bid was short. $5.00 or $100.00 doesn't make a difference. If you actually want the coin, go for it.

 

The toning premium is very often difficult to assess. Obverse toning usually carries a higher premium than reverse toning. But as you have discovered, reverse toning also carries a premium bid.

 

Welcome to the realities of auction bidding.

 

Carl

 

Thanks for the insights. I was just bummed because I thought I was prepared for the last second bid, and as it turns out, I wasn't.

[kryptonitecomics]

I saw that one but did not pull the trigger because there just wasn't enough color to justify a strong bid. If it had full on rainbow toning then I would be a player but pink and gold are the prominent colors and as was mentioned...the color is on the reverse.

 

I would say hold out for a better example if your going to shell out $400 bucks (thumbs u

[grip]

I like it a lot.My max would have been 400.00 for it,but I also like reverse toning on the MD.

[PLM]

jpcienkus-I don't think the price is crazy for that coin but it is reaching the upper limit of reasonable. Also for your education if you will look at the bid history you will see that you actually bid twice after the winner put in his bid. As has been pointed out, that may have been his high bid or it may have been much higher. For coins that I would like to have but are not extra special I keep the price conservative. For coins that I really really want I figure the absolute most that I am willing to pay and that is what my bid is. If for example I am willing to pay $2000 for a coin and bid that but the next highest bid is only $760 then I will win the coin for $770 in which case I am very pleased.

Anyway good luck on getting a nice toned Morgan. They can be very beautiful and yet not too expensive. Just be patient.

[jpcienkus]

jpcienkus-I don't think the price is crazy for that coin but it is reaching the upper limit of reasonable. Also for your education if you will look at the bid history you will see that you actually bid twice after the winner put in his bid. As has been pointed out, that may have been his high bid or it may have been much higher. For coins that I would like to have but are not extra special I keep the price conservative. For coins that I really really want I figure the absolute most that I am willing to pay and that is what my bid is. If for example I am willing to pay $2000 for a coin and bid that but the next highest bid is only $760 then I will win the coin for $770 in which case I am very pleased.

Anyway good luck on getting a nice toned Morgan. They can be very beautiful and yet not too expensive. Just be patient.

 

Thanks for noticing the bid action. I only saw what I wanted to see there. I didn't think to look at the time the bids were made. All I knew at the time was with 10 seconds left, a bid was made and I tried to counter.

 

Agree this was at the upper limit and it was actually at mine too. I'll pick the right coin for me and do my best to get it. I searched eBay and Heritage and did not see any that I wanted at the prices being bid.

[coinman_23885]

It's a nice coin, but I think it sold for strong money. I wouldn't be overly upset about "losing" this one. I have seen more than a few with similar toning patterns, and if you wait, chances are you will find another one. The asking price/price realized may be even less than this one.

[jpcienkus]

It's a nice coin, but I think it sold for strong money. I wouldn't be overly upset about "losing" this one. I have seen more than a few with similar toning patterns, and if you wait, chances are you will find another one. The asking price/price realized may be even less than this one.

 

Thanks. I'm sure you're right.

[coinman_23885]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

 

I would be careful about over relying on the Greysheet for Morgan Dollars. Many of the prices are inflated and are not reflective of what the coins sell for at auction. For example, I purchased a MS66 generic Morgan for $260 and Greysheet bid (not the ask price you quoted) was $60 higher. The prices are sometimes retail prices or higher.

 

With this said, I realize that attractively toned coins often garner a premium, but this toning is not significant enough to warrant a substantial premium in my opinion.

[jpcienkus]

Strong money for a reverse toner!

 

According to the grey sheet from mid-January, ask was $305 for the coin in this grade. I'm no expert, but I'm seeing toned Morgan's go for much higher above ask than 30%. You mentioned it was "strong money for a reverse toner", so as a newbie, I ask why is there such a huge difference whether it's on the obverse or the reverse? I understand the preference to the obverse, but I thought this had great toning as well as nice luster.

 

I would be careful about over relying on the Greysheet for Morgan Dollars. Many of the prices are inflated and are not reflective of what the coins sell for at auction. For example, I purchased a MS66 generic Morgan for $260 and Greysheet bid (not the ask price you quoted) was $60 higher. The prices are sometimes retail prices or higher.

 

With this said, I realize that attractively toned coins often garner a premium, but this toning is not significant enough to warrant a substantial premium in my opinion.

 

For pricing, I also try to cross reference the Heritage Auction info, but like you said, or inferred, when it comes to toning, prices can vary widely.

[kryptonitecomics]

I like this coin more for the price....even though it's a more common date in MS65...I think the reverse toning is attractive and better than the coin you missed out on. Still may be a bit high but again I think the toning is much nicer.

 

Morgan

[jpcienkus]

Thanks Shane. I like that one too. I appreciate you showing me alternatives.

 

Edit: This one is still reverse toning and yet it's over 100% premium of basic retail pricing on NGC. I didn't even review auction pricing, just a quick search. So based on what I've read, this is incredibly strong pricing for a common date reverse toner.

 

To me, toning is like art. You either like it or don't. Some like Andy Warhol, some don't.