This toned peace dollar seller must have been please

[mumu]

http://legendauctions.hibid.com/lot/24794714/-1-1923-pcgs-ms66-cac/?sort=2&ref=catalog

[PocketArt]

Unbelievable...I wouldn't think that there would be much margin for profit if the buyer needed to sell it soon but probably wrong; one collectors ceiling is another's floor in terms of budget.

 

I thought rainbows only brought out this kind of crazy money...

[mumu]

Unbelievable...I wouldn't think that there would be much margin for profit if the buyer needed to sell it soon but probably wrong; one collectors ceiling is another's floor in terms of budget.

 

I thought rainbows only brought out this kind of crazy money...

 

I am shocked as well. I would pay no premium for that toning. Too close to gold. Id love to find a truly yellow example. But most have just enough orange to make it look like gold which is all to common. There is a hint of rainbow in this one. But 4 times the full retail estimate is nuts.

[MarkFeld]

Unbelievable...I wouldn't think that there would be much margin for profit if the buyer needed to sell it soon but probably wrong; one collectors ceiling is another's floor in terms of budget.

 

I thought rainbows only brought out this kind of crazy money...

 

I am shocked as well. I would pay no premium for that toning. Too close to gold. Id love to find a truly yellow example. But most have just enough orange to make it look like gold which is all to common. There is a hint of rainbow in this one. But 4 times the full retail estimate is nuts.

 

Have you guys seen the coin in hand? I haven't, but the price realized leads me to speculate that the color is probably much more appealing than seen in the images.

[david3142]

I was the underbidder on that coin. There were only two of us past $4500, so clearly the market for that coin at that level is quite thin. That said, I absolutely love the color on it as did both of the Legend representatives with whom I discussed the coin. I did not even bid on the following lot, another MS66 toned Peace Dollar, which has previously traded in the $3000 range (and sold for less this time).

[RWB]

Toning and tarnish are volatile numismatic attributes.

[coinman_23885]

Have you guys seen the coin in hand? I haven't, but the price realized leads me to speculate that the color is probably much more appealing than seen in the images.

 

I certainly hope so. Gold toning and brownish toning is not uncommon on toned Peace Dollars, and the color looks rather average to have fetched much (if any premium).

[mumu]

Unbelievable...I wouldn't think that there would be much margin for profit if the buyer needed to sell it soon but probably wrong; one collectors ceiling is another's floor in terms of budget.

 

I thought rainbows only brought out this kind of crazy money...

 

I am shocked as well. I would pay no premium for that toning. Too close to gold. Id love to find a truly yellow example. But most have just enough orange to make it look like gold which is all to common. There is a hint of rainbow in this one. But 4 times the full retail estimate is nuts.

 

Have you guys seen the coin in hand? I haven't, but the price realized leads me to speculate that the color is probably much more appealing than seen in the images.

 

While your points are somewhat valid(why discuss coins on the internet at all then as that's all you will see on your computer unless we all move and travel around all the auctions?), if the coin were posted by a user like me as a noop the posts would go something along the lines of "black spot in central area, partial palm print in obverse fiels, common color, toning breaks on the reverse"

 

That being said I am not saying its not a beautiful coin, I would love to own it at a certain price. Just not 5x retail is all im saying. Its very rare that toned P$ see this price range, you at least have to admit that.

[MarkFeld]

Unbelievable...I wouldn't think that there would be much margin for profit if the buyer needed to sell it soon but probably wrong; one collectors ceiling is another's floor in terms of budget.

 

I thought rainbows only brought out this kind of crazy money...

 

I am shocked as well. I would pay no premium for that toning. Too close to gold. Id love to find a truly yellow example. But most have just enough orange to make it look like gold which is all to common. There is a hint of rainbow in this one. But 4 times the full retail estimate is nuts.

 

Have you guys seen the coin in hand? I haven't, but the price realized leads me to speculate that the color is probably much more appealing than seen in the images.

 

While your points are somewhat valid(why discuss coins on the internet at all then as that's all you will see on your computer unless we all move and travel around all the auctions?), if the coin were posted by a user like me as a noop the posts would go something along the lines of "black spot in central area, partial palm print in obverse fiels, common color, toning breaks on the reverse"

 

That being said I am not saying its not a beautiful coin, I would love to own it at a certain price. Just not 5x retail is all im saying. Its very rare that toned P$ see this price range, you at least have to admit that.

 

It wouldn't matter to me who posted the coin and I doubt it would matter to most others, either. When a coin of that type, date and grade sells for that amount of money, my first thought is that it must look better in hand.

[PocketArt]

Mark, I respect your conclusion that the coin looked better in hand; however, my first thoughts were based upon the estimated price, and what the auction realized in relation to the information that was available in print, and photo. Not saying my first impression is right, or, yours is wrong.

 

The realized price on the coin, in my view, is probably an outlier based on the bidding activity that was confirmed by david3142 concerning this particular type of toning on a common date Peace dollar. I think it's safe to say; hopefully, and what I was commenting on previously, that the coin sold more than what one would think the market would realistically tolerate.

 

Sans two strong willed buyers locking horns.

 

Thanks

 

 

 

 

[MarkFeld]

Mark, I respect your conclusion that the coin looked better in hand; however, my first thoughts were based upon the estimated price, and what the auction realized in relation to the information that was available in print, and photo. Not saying my first impression is right, or, yours is wrong.

 

The realized price on the coin, in my view, is probably an outlier based on the bidding activity that was confirmed by david3142 concerning this particular type of toning on a common date Peace dollar. I think it's safe to say; hopefully, and what I was commenting on previously, that the coin sold more than what one would think the market would realistically tolerate.

 

Sans two strong willed buyers locking horns.

 

Thanks

 

 

 

 

I wouldn't place any emphasis on a published estimated price. However, while I do agree with your thought that the price realized was likely an outlier, I don't think it would have been achieved in the first place, unless the coin looked better in hand than in the images.

[PocketArt]

I don't doubt that; I'd certainly want to view the coin in hand myself if I was going to commit to spending this amount of money. However; this would exceed my budget for a coin, and also what I could justifiably muster for one single coin. Buying behavior at levels beyond mine I can't speak for until I have that ability myself.

 

Respectfully; I wonder if david3142 could answer if he viewed coin in hand, or, had enough assurance with those he trusts communicating details of said coin. I wouldn't see anything wrong with a verbal opinion on a transaction if it's someone I wholeheartedly trust. At that level if I had finances relative to his.

 

 

 

 

[david3142]

I'm happy to answer the questions. I did not see the coin in hand. I spoke to Laura on the phone and she knows what I collect and what I like. She said this coin was "the real deal" while advising that I pass on the following lot (which was also a 66 CAC). She thought the subject coin would be in the $4K range. The most money I'm aware of that a common date sub-MS67 Peace dollar has traded for is $5K for Aurora Borealis' "Ultimate Peace" which is an NGC 65*. I have also heard that he turned down $15K for it. I think that coin is incredible but there are a few reasons why I liked this one better. One, the color is smooth across the surface and many of the other 100% toned Peace dollars are mottled or have a significant amount of peel-away. Two, it is two-sided which is much rarer. Three, the surfaces are incredibly clean and the luster (as described to me) is fantastic. Four, I happen to like the yellow-golden-orange color spectrum. Banded rainbows are my favorite, but I really love the look of this one. I only need one low-relief for my set, and I have followed every major auction for the last few years looking for the right Peace dollar. I looked at auction archives, PCGS TrueViews, and the Peace Dollars in the AuroraBorealis collection. To me, this was right up there with any of them. Others may not agree. That's ok.

 

Lastly, a few hours before the auction I talked to another representative at Legend because I wanted to be as sure as I could be that this coin was worth chasing. He confirmed that this was a superb example and he thought it would take a bid in the $6K - $7K range to win it.

 

All that said, I do not think it is worth what I bid. I would have guessed a proper market value of $4K - $5K, but to me it is worth more. I usually try to get good value for my coins as I do view them as an investment, but for my toned set I am willing to pay more than market on coins I think are extremely hard to find/replace. My Morgan collection is pretty fluid, but for my best toned type coins I don't plan on selling for a very long time. Therefore, the resale is less of a concern to me.

 

[coinman_23885]

You were the winning bidder? Would you post better photos when you have the coin in hand?

[MarkFeld]

I'm happy to answer the questions. I did not see the coin in hand. I spoke to Laura on the phone and she knows what I collect and what I like. She said this coin was "the real deal" while advising that I pass on the following lot (which was also a 66 CAC). She thought the subject coin would be in the $4K range. The most money I'm aware of that a common date sub-MS67 Peace dollar has traded for is $5K for Aurora Borealis' "Ultimate Peace" which is an NGC 65*. I have also heard that he turned down $15K for it. I think that coin is incredible but there are a few reasons why I liked this one better. One, the color is smooth across the surface and many of the other 100% toned Peace dollars are mottled or have a significant amount of peel-away. Two, it is two-sided which is much rarer. Three, the surfaces are incredibly clean and the luster (as described to me) is fantastic. Four, I happen to like the yellow-golden-orange color spectrum. Banded rainbows are my favorite, but I really love the look of this one. I only need one low-relief for my set, and I have followed every major auction for the last few years looking for the right Peace dollar. I looked at auction archives, PCGS TrueViews, and the Peace Dollars in the AuroraBorealis collection. To me, this was right up there with any of them. Others may not agree. That's ok.

 

Lastly, a few hours before the auction I talked to another representative at Legend because I wanted to be as sure as I could be that this coin was worth chasing. He confirmed that this was a superb example and he thought it would take a bid in the $6K - $7K range to win it.

 

All that said, I do not think it is worth what I bid. I would have guessed a proper market value of $4K - $5K, but to me it is worth more. I usually try to get good value for my coins as I do view them as an investment, but for my toned set I am willing to pay more than market on coins I think are extremely hard to find/replace. My Morgan collection is pretty fluid, but for my best toned type coins I don't plan on selling for a very long time. Therefore, the resale is less of a concern to me.

 

Great insight Into the thought process of a serious bidder for the coin, who is quite familiar with the market for "toners".

[david3142]

Thanks Mark.

 

Kenny, I did not win the coin. I was the underbidder. I actually went 0-for the night despite that crazy bid and many other very strong bids.

For another moon money coin, check out Lot 212.

[PocketArt]

Thanks david3142 for detailing your corroborated approach in this purchasing strategy along with a willingness to share.

 

Rich

[coinman_23885]

I did not win the coin. I was the underbidder.

 

I don't mean this sarcastically, but congratulations. I think in time you will find a far nicer obverse toned specimen even if one hasn't shown up at auction. When the right coin does appear, I wish you the best in acquiring it.

 

This of course assumes that the photos are at least somewhat representative of the coin. For all I know, it could be a monster in hand (but I strongly doubt it based on the toners I have seen out there for this series).

 

For another moon money coin, check out Lot 212.

 

I like the Bust Half, and although it went for strong money, I would rather have this coin at $3600 then the $8k-$9k Peace Dollar that is the subject of this thread.

[david3142]

I love that Bust Half too. I don't need one for my set but I bid 63 money for it as a great example for the type. Also, the realized prices posted do not include the BP. The Bust Half was over $4K and the Peace dollar was over $10K!

[coinman_23885]

Given the way the grading services overlook friction on lower MS coins, I would not be surprised to see the bust half make it a MS60-MS62 holder someday (even though I agree with the AU58 grade). If it does upgrade, I think the buyer could do far better when selling than many might think.

[coinman1794]

http://legendauctions.hibid.com/lot/24794714/-1-1923-pcgs-ms66-cac/?sort=2&ref=catalog

 

My first impression is that the images leave much to be desired, that the color simply must be much better in-hand, and that the luster is superb-gem quality. Additionally, there is no dark toning, which is ubiquitous on colorful Peace dollars.

 

It is possible that the people who viewed it in-hand thought it looked MS67.

[lehigh96]

The Legend description says the coin has pastel iridescent toning in shades of pink, gold, and green. From the photos, you can only see blushes of pink and green, but my experience with iridescent toned coins is that the toning is virtually impossible to capture in a still photo. It is perfectly reasonable to assume that once this coin is viewed and rotated under a lamp that the colors are more prominent, vibrant, and far more attractive.

 

In addition, the coin probably has a combination of toning and luster that makes the eye appeal incredible. That said, the price realized is moon money and is likely the result of two guys with deep pockets who thought they might never encounter another Peace Dollar with that type of eye appeal ever again.

[RWB]

From the rather poor photo, it looks like a lot of other yellowish Peace dollars. Might be different in person. Maybe it came with crayons or colored markers....?

 

[EleMint Man]

From the rather poor photo, it looks like a lot of other yellowish Peace dollars. Might be different in person. Maybe it came with crayons or colored markers....?

 

 

Those may have been used on this coin which I added to my eBuy "Collection" for

memories sake. The FMV for this ok (?) coin is $38.

 

http://www.ebay.com/itm/1923-Peace-Silver-Dollar-PCGS-MS62-Light-Rainbow-Toning-Toned-Color-/331845011443?_trksid=p2047675.l2557&nma=true&si=%252ByMDcLoMeytSPyfDkWXmymM2Qik%253D&orig_cvip=true&rt=nc

[EleMint Man]

 

 

It was paid for using......

[halfhunter]

Maybe the buyer wants to hold it to go with the 2021 1oz gold commemorative . . .

 

HH

[EleMint Man]

 

I see, it would fit well in this set holder...

 

 

https://www.wizardcoinsupply.com/product/capital-holder-110-ounce-gold-eagles-2004-2021.html