Filed under: Auctions
Recently I took a class in silver appraisal and learned a new term, toning, which refers to the patina of older coins. There are plenty of toned coins on display as part of Bonhams & Butterfields Los Angeles' Coins, Medals and Banknotes Auction on May 30, 2010. The auction features a diverse grouping of rarities, many of which are fresh to market.
Shown above is an extremely rare 1847 $1 Proof. It is estimated that only 20-30 Proofs were struck, meaning of course that far fewer are around today, lost to the swirls of time. The lot listing reports that a number of deceptive prooflike business strikes are known and so real proofs are highly prized. The coin is colorfully toned over both sides in shades of cobalt-blue, pale golden, and violet. It is estimated at $10,000-12,000.