The following post is pulled from Coin World editor Steve
Roach’s Market Analysis column in the Oct. 27 issue.
coin series have as broad collector interest as Morgan silver dollars.
Like fans of any long-running series with many date and Mint mark
combinations, collectors often specialize while others just want a
single example for type purposes. One area that experiences huge
demand and often crazy auction results can be found in toned Morgan
dollars. Especially on high-grade Mint State coins, some Morgan
dollars have spectacular rainbow toning and when these coins are
offered at auction, it’s anyone’s guess as to what they’ll bring. Here
are three from Bob Simpson’s Sunnywood Collection that soared at
Legend’s Oct. 2 Regency auction in Las Vegas, Nev:
1881-S Morgan dollar, MS-68+, CAC, $45,825
1881-S Morgan dollar is the quintessential type dollar as it’s widely
available in high grades up to and including Mint State 67. In MS-68
it’s scarce, and while a handsome untoned example in this grade might
cost $5,000, or so, at auction, when the example is magnificently
toned, all bets are off.
Oct. 2, one graded by Professional Coin Grading Service MS-68+ with a
green Certified Acceptance Corp. sticker indicating quality within the
grade brought $45,825; the presale estimate of $25,000 to $27,500
proved irrelevant. The magnificent dollar was described as follows:
“Considered by some enthusiasts to be the ultimate finest toned Morgan
known to the collecting community, this paradigm of perfection
features rich vibrant banded rainbow toning over essentially flawless
and highly lustrous surfaces.” If that wasn’t enough, it was the star
of an ANACS marketing campaign as it was once housed in an ANACS MS-68
holder, and is used by PCGS in its marketing, too.
Unusually gorgeous 1879 Morgan silver dollar graded
MS-66 with a CAC sticker brings $23,500 in Las Vegas
'Technically superb monster' 1880-S Morgan dollar
from the Sunnywood 'Somewhere Over the Rainbow' collection: $35,250
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