paper money and bullion

A beautifully toned coin is a coin that has aged well. The magnificent aging of silver, in particular, is similar to the magnificent aging of falling leaves every year, in the right climates, before they turn brown, the brilliant yellows and reds of the fall's foliage. This doesn't always happen with either leaves or silver. You need the right environment. When it does happen, it pleases the eye. Color is simply more appealing than gray. Toning is an alteration of the chemical makeup and color of a coin's surface. It takes place naturally over time as the metal reacts with chemicals in its environment, typically to various sulfur-based compounds. Or it can be induced artificially, and more quickly. Natural toning takes place more quickly in a warmer and more humid environment..:roll:

Numismatic metals tone in different ways. Silver coins as a whole tone more beautifully than those made of other metals. Silver, exposed to the right environmental influences -- to small amounts of hydrogen sulfur in the air or larger amounts in albums, envelopes, canvas bags, paper rolls, leather wallets or purses, rubber bands, and some glues and paints -- can naturally turn subtle or sometimes brilliant shades of yellow, magenta, turquoise, and other colors before eventually turning black. The toning on silver is typically silver sulfide.

The appreciation of toning is often a sensibility that comes with time, similar to appreciating the relatively small differences in uncirculated grades, say between a 64 and a 66. When you first start out, a coin with toning looks old or unnatural. Then you begin to appreciate the sometimes marvelous ways that time can paint a beautiful picture on coins.:roll:

Some contend that not all coins tone, silver or otherwise. If sealed in an airtight environment, the surfaces of a coin will deplete sulfur and other chemicals around it and stop toning after that. Intercept Shield coin holders are designed to intercept and neutralize sulfur and other contaminants and thus prevent toning.

As a general rule, toned coins tend to be preferred more by advanced collectors than beginning collectors, while coins that look the same way they looked when they came from the Mint tend to be preferred more by newcomers. "People buy the color, experience, life of the coin, not just the technical grade," says Bob Campbell, former ANA president and coin dealer who sells toned coins. "Beginning collectors like blazing white coins. More advanced collectors like beautifully toned coins."