Legend Rare Coin Auctions continued to enjoy success in achieving
massive prices for rainbow toned Morgan dollars at its latest Regency
Auction XX, held Jan. 26 as part of the Professional Coin Grading
Service Member’s Only show in Las Vegas, Nev.
Collectors prize Morgan dollars displaying all of the colors of the
rainbow, and the Northern Lights Collection includes many of the
finest examples ever seen. More dollars from the collection are set to
be offered in Legend’s Regency Auction XXI on May 18 at Harrah’s in
New Orleans, which will also include additional Standard Silver
patterns from the collection of Bob Simpson.
Here are three lots we're profiling in this latest Market Analysis:
1881-S Rainbow Toned Morgan Dollar, PCGS Mint
State 66+ Prooflike, CAC
As it is often mentioned, 1881-S Morgan dollars “come nice” in that
they’re generally well-struck, with booming luster and often showcase
nice contrast between mirrored fields and frosty devices. At Legend’s
Regency XX auction the firm offered an 1881-S dollar graded PCGS MS-66
Prooflike with a green Certified Acceptance Corp. sticker that
realized a huge $23,500. To put that price into perspective, it is
roughly 50 times what a typical MS-66 Prooflike example might sell for.
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The rainbow toned dollar was nicknamed “Freckles” by the auctioneer,
who explained, “A tremendous and totally original mix of royal neon
green/monster violet/royal blue/amber explode from the obverse.
For decades the Morgan dollar has ranked at the top U.S. coin
collectors' favorite coins. Why is the Morgan dollar so popular?
There are many reasons, including: large size, attractive designs,
numerous varieties, historical significance. How much are
Morgan dollars worth?
Note: these are NOT cuts on the face — just toning patches. You can
clearly see the burlap bag toning dots all over.” The toning pattern
is the result of long-term storage in a cloth bag where the obverse
was exposed to the bag while the reverse was not.
More Eye-Catching Coins Sold at Regency Auction XX:
'Wow'-worthy, rainbow-toned Morgan
dollar tops $19,000 in recent auction:
Legend’s auctions are well-known for showcasing rainbow toned
Morgan dollars, which are growing in popularity with collectors.
This one is remarkable.
Recently sold 1870
Standard Silver Pattern dime part of a long-overlooked series:
It is a vast but relatively unpopular area, and the Standard Silver
pattern series provides opportunities for collectors because many
are relatively affordable.