Exactly How Rare Are True "Monster Toned" Morgan Dollars?

Those coins are just spectacular!
The link below provides an estimation of the number of monster toned morgans.
http://www.jhonecash.com/coins/tone...s.asp#rarity

I'd say to watch auctions (eBay, Teletrade, Heritage, etc.) and see how often they appear and for what prices. That'll give you a feel for it.

There were millions (maybe billions) of Morgans sitting around in canvas bags for decades, so there are definitely a few out there.

There is a well known collector on the pcgs forums who prob owns some of those posted and more. These go for 4-5 figures and are highly sought after for the colors

A toned coin is a novelty to me. It would hold more value to me if there was not so much artificial stuff happening. As it is, I've seen a lot of natural toning with old silver. And more often than not, it is solid black. Not rainbows, but just black. I understand that the rainbow colors can naturally appear. The problem is, if someone presents you with a coin with these colors, how do you test it for artifical toning? If you rub it with a cloth and it rubs off, the customer now charges you with destroying their coin. Now what?

I love a well toned coin, but unless it tones in my possesion over 25+ years or more. I simply don't trust it to pay any premium.

I'm sure others feel differently, but this is my feelings on it.

That's Brandon Kelley's work. If anyone would know the true rarity of high-end toned Morgans, I suspect it would be him, as he's probably handled every single one.

This is not artificial toning. First of all, these coins are all certified by PCGS/NGC (I don't know if that does anything for you but still); second there are diagnostics for artificially toned coins just like there are for counterfeits; and third, there is science behind it to back it up.

Please take a look at this link. The link will bring you to the right spot. Since I wouldn't be able to explain all of it in a few words I'd rather just redirect: http://www.jhonecash.com/coins/tone...asp#howtoned




The first thing I did was dig through Heritage's archives. It's kind of hard to find these coins because they're all unique and describe as such by Heritage (words like monster and rainbow are rarely used). Jhon Cash has listed some of them on the webpage I linked, but of the "true monster" category (the ones I posted in the first image) less than 15 Heritage auctions are listed.

I have been in touch with a smaller dealer and showed him a picture of one and asked how often he sees them. He emailed me today saying he sees around 10-20 per year.