Morgan Silver Dollar toning.........

Is toning an attribute of the type? Does it increase its value? Has any grading service actually attributed toning to the grade? Thanks!!!!!

 

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It will be interesting to see the responses to this. I assume toning would follow the composition of the coin, for example I would expect Morgans and Peace dollars to tone similarly. I don't think toning figures into grading unless it is so severe it is considered environmental damage or blocks the view of features. Some people pay bigggggg bucks for what they consider attractive toning while others couldn't care less.

 

Agreed! If its a nice toning (rainbow toning for example) or a nice pattern, some people might be willing to pay more but I doubt its as important as say condition or mintage.

 

Toning is a chemical reaction that is caused by the environment of the coin.
For example, a coin housed in a Dansco or other coin album can acquire "album toning" from the substances in the paper that is used to make the album reacting with the surface of the coin.

Appealing toning (subjective; depends on each collector's likes) will add a premium to a coin. Sometimes the premium can be significant. For example, an 1881-S Morgan in MS 63 might be a $40-$65 coin. Now if it has monster toning, you could be looking at a $300-$1,000+ coin.

Grading services should not necessarily consider toning in determining a grade, unless it borders on environmental damage. However, there are many cases where toning will help bump a coin up by a grade or two. Also, NGC may put a STAR designation after the grade for eye appeal (including toning).

 

Precisely why I don't dabble in toned coins -- trying to get a grip on any justified premiums is beyond my pay grade.

 

Right. I am one of them ;-)

NGC usually adds a star to the grade if a coin has spectacular toning - usually rainbow/monster-toned Morgan dollars.

 

That would make sense, wouldn't it? And yet they don't.

 

Depending on the color it can add massive premiums or none or even reduce the price, compared to blast white. Similarly, depending on the color and eye appeal, it can add a point to the grade or deduct a point.

 

Common theory is that 1921 Morgan's & all Peace dollars don't tone like 78-04 Morgan's due to a change in how the mint prepared the planchets from the two eras.

 

All interesting. Thank you.

 

Here are a few of my coins where the toning adds many, many, multiples of greysheet to the value. The first 3 are now CAC stickered. The 82s I sold quickly for about 15x bid before I got to send it out and the last not only adds a premium for the color but another premium on top for being a gorgeous PCI toner as there is a rabid fan base that collects PCI toners specifically. And the first one adds another premium for being a textile toner. Notice the dots and lines. That's from toning while sitting next to the burlap mint bag for decades. Textile toners are highly desirable. Especially neon pop color ones like this.

 

I'll certainty pay more for an attractively toned coin anyday

 

On our web site we have a whole section dedicated to toned Morgans that you might find helpful http://www.1881o.com/toned-coins.html

 

K

 

Ahem.



You sure do see "colorful toning" on circulated coins. I've got a garish slick SLQ somewhere. It doesn't look the same as toning on a lustrous MS example, certainly not -- but toning, and color, can land on even heavily-worn (or even harshly cleaned!) surfaces.

 

Back to the topic of toned coins. I've been a toned coin collector for years, although as of recently, my numismatic interests have shifted. I did sell a whole lot of toned Morgans last year, for quite a high premium. Toning, if it is attractive, can throw any price guide out of the window. Many collectors will pay multiple times the graded value for a toned coin that they perceive to be attractive. I could post hundreds of pictures of coins that I sold for 3-20x normal value for the date, as another collector saw said coins as desirable. This is totally a "beauty is in the eye of the beholder" market. Just watch auctions on eBay for nicely toned coins--particularly rainbow toned ones, and vivid textile-toned Morgans. They can go out of sight, price wise. Morgans tend to have toned differently than many other coins, due to their many years of sitting in textile mint bags, in humid locales. Natural chemical reactions have created some extremely artistic results. However, for the OP's information, this is a highly specialized and selective market.

 

That's what I've always been told. But weren't there at least some bags of Peace dollars that were treated the same way?

My impression is that Morgans tone differently from other coins, even when handled exactly the same way -- but I don't know if that impression is true.

 

Peace Dollars did not have the same storage conditions as Morgans. More of them were in bank vaults, rather than sitting in mint bags for over 50 years. They are more recent, except for the 1921 Morgan, and that coin tends to tone less vividly than the earlier Morgans.