a repeat thread from across the street: are toned coins dead?

[enriched-migration]

I have a 1886 Morgan PCGS 64 that I paid quite a bit for last year. The auctioneer,

Goldberg, has estimated its value to be 1/10 of what I paid. I was very upset.

 

Is this indicative of the toned-coin market, as they have indicated?

 

if anyone wishes to p/m me please do so at sdsu6993117@yahoo.com

 

I am no longer interested in coisn and simply wish to recoup as much of my losses

as possible.

 

A foolish former "collector,"

 

Barney AKA enriched

[gmarguli]

The Goldberg estimates mean nothing. Last year they had a sale where there were MANY coins I was interested in. I would have gladly paid their estimates without hesitation. The coins ended up selling for several multiples of the estimates. They were stupid estimates.

 

The estimates are all a game. Take a $1000 coin and put an estimate of $400 on it. Coin sells for $1000 and everyone marvels and talks about the super strong prices that coins are bringing. A game. Fools the novices and the person who writes the PCGS Market reports. Fools no one else.

 

At the same time, they have several modern coins for sale with estimates that are wishful thinking. The coins likely won't bring anywhere near them. One they have estimates for $1900 (if I remember correctly). I sold several in the $225 range recently. I'd gladly sell the others I currently for that same $225. If they can get $1900 then they can have my business the next auction.

 

Toned coins are not dead. From the recent Heritage auction, I got blown out on several lots. One was a repeat from earlier this year. Sold for almost double this time than a few months ago.

 

BTW, what lot is yours?

[braddick]

I agree. Wonderfully toned, orginal colorful coins are just as popular today as last month and last year- just a tad more expensive!

 

The junk will always be out there. If anything, these less than desireable "toned" coins only add appeal to those that do that are stunning.

 

Toned coins are not dead. There are Dealers though that would have you believe so though as their inventory does not carry these premium coins.

[Hoot]

Often the appreciation of toned material comes with the season of a collector. Most collectors who have been in and around the hobby and who have studied the nature of coins simply regard toning as a signal of originality. There are other clues, to be sure, but toning then becomes an object of desire for seasoned collectors; it always has (even when toning was not popular) else all coins would have been dipped. Attractive toning is more rare than toning in general, and there has always been the desire for its preservation. Toning will wax and wane in popularity, but the desire for richly toned coins that have original surfaces and booming lustre will never die.

 

Hoot

[MikeKing]

I agree. The Goldberg estimates are unrealistically low.

At the recent Heritage Signature auction, many coins with exceptional toning went for four times their 'normal' value. Sure beat me out of a few!

[TomB]

Nice coin, Hoot.

 

Coins with particularly attractive toning are typically seriously under-estimated in Goldberg auctions. I only wish that I could buy such coins at even three times the estimate!

[michael]

hi there barney

 

from the scans i saw of your coin

it is a NICE toned coin NOT a monster

 

i guess you will just have to wait and see what the coin brings

but as many have said on this thread the goldbergs do sometimes offer conservative estimates and then many sell for much higher

 

remember paper is non predjuical it will take whatever the pen writes on it!

 

i can estimate a proof twenty dollar deep cameo gem proof coin at 20,000 dollars as an estimate and i guarantee you it will sell for way way more! if the coin is all there

 

the market will speak when your coin is sold

 

i think you will do okie

 

 

sincerely michael

 

 

[michael]

oh and toned coins are not dead they are alive and well

 

but there are certain parameters that make one toned coin better than another

 

overall eye appeal

grade

a certain look

rarity

lsstre if a mintstate coin

excpetional qualities of a toned coin not usually seen by others in the same date/mintmark/series

 

for example here are four really very uncommon excpetionally toned coins

because of state of preservation

overall eye appeal

the exceptional qualities of each piece and being really uncommon for each in its series with this look

 

create a unique individual work of art

 

and of course like everything else one mans sweet cake is anothers poison..................

 

sincerely michael

[michael]

: sumo:

[michael]

[michael]

[michael]

and please barney let me know how this auction turns out for you

 

and next time if you are considering buying anything private message me and let me know what it is and better yet if i can see at least a scan of the item and then i will try to give you a little more information with which you can make a better decision for yourself

 

as in the end when all is said and done it is your decision

 

just remember what i suggested to you like over a year ago and before you bought this said coin!!!!!!!!!

 

i think i gave you some really sound advise for you and i know i was totally correct

 

if you remember what i said to you i think you might really consider trying it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

 

 

sincerely michael

 

 

[michael]

as always no matter what the future holds or what happens

 

 

***************** i am always YOUR friend****************

 

sincerely michael

[BillJones]

The thing I've noticed about the Goldbergs over the years is that they tend to put low estimates on their auction. One reason might be to make them look good when the coin sells for more. But another reason might be to raise false hopes among the potential bidders, which in turn could encourage more bids. More bids can lead to "auction frenzy" which can lead to the ultimate question after the sale. "Why did I do that?"

[true_grade]

For my own selfish greedy reasons, I hope toned coins are dead.

 

Man it would be great to start picking up prostitute coins at Greysheet!!

(prostitute coins-all made up and cost big bucks for some pleasure)

 

Ok, enough of the dreaming. No they are not dead. I buy/sell and visit quite a few dealers and unless we are all the last to know, they still are commanding nice premiums.

 

Try for a couple of other auction house opinions before taking just one's "suggestion".

 

HOWEVER, it does not mean you may have not gotten the ole dealer shaft on this particular coin.

 

Keep the faith, if everyone was to get out after a dealer(s) shafting(s), then there would never be any collectors with more than 6 months of experience.