Typical summer coat from last July and September 2010, respectively. Fairly bright gold.
Fall coat. Getting darker. Somewhat orangey.
Winter. Suddenly becomes part grizzly bear. And this picture does not do justice to the shade of orange this horse turns. Once I did not recognize her in her stall because I only saw her back and thought it was a sorrel horse.
Spring during shedding. I have already brushed out a lot of her winter coat, so this is lighter than she was a couple weeks ago. She sheds out sooty-looking. Looks absolutely filthy, but it is dark brown hairs all over her back, neck, jaw, and butt.
The dark hairs lighten up/shed out and we start the process over again. I hope this example shows how much a coat can change over the course of a year.