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Paying Above Catalogue

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Valued Member

Australia
154 Posts
 Posted 03/12/2012  06:18 am Show Profile Bookmark this topic Add rbarat to your friends list Get a Link to this Message

Hi All,
I'm probably not alone when I read through Rennik's and McDonald's coin values to have a ballpark figure or what coin or banknote is valued at.

Usually, we look to buy below the price in the guide, but would there be any instances where you might pay ABOVE the price in the guide for a particular coin or banknote on purpose? (ie: not due to misrepresentation of the product by the seller)

Cheers
-rob

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Australia
639 Posts
 Posted 03/12/2012  06:25 am  Show Profile Bookmark this reply Add MobOfRoos to your friends list Get a Link to this Reply
I have paid above catalog value for a low value item if it is something I really want.

For instance, if something has a book value of $15 I will happily pay $20 for it if I have to. I'm not going to get precious over a few dollars.
Pillar of the Community
Australia
4411 Posts
 Posted 03/12/2012  06:40 am  Show Profile Check enworb's eBay Listings Bookmark this reply Add enworb to your friends list Get a Link to this Reply
Most of the prices in either catalogue are way over retail anyway. I would hope there isnt too many people actually charging that much. I have noticed that the higher the grade the more accurate the catalogue value though.

I only paid over catalogue for a few proof coins I bought when I first started collecting. I didnt have any concept of haggling and just went for it.
Valued Member
United States
163 Posts
 Posted 03/12/2012  06:59 am  Show Profile Bookmark this reply Add War Nickel to your friends list Get a Link to this Reply
I like to stay on good terms with owners of Brick-and-mortor shops or they will go away. For the lower priced items...which is all I basically buy, I pay their asking price. Why?
My price guide is a yearly issue, wheras their price guide is The Grey Sheet, which comes out weekly. It can work to your advantage. For example I wanted a 100th anniversary Roosevelt dime with a West Point ("W") mintmark . They didn't have that exact item, BUT they had an entire 1996 mint set with that exact coin for exactly the same price as the single coin!
For low prices you can always find a lowball price on eBay...I always treat my brick and mortor stores with love and respect and , low and behold, I get it back, sometimes in spades. Go figure!

Valued Member
Australia
154 Posts
 Posted 03/12/2012  07:38 am  Show Profile Bookmark this reply Add rbarat to your friends list Get a Link to this Reply

Quote:
I didnt have any concept of haggling and just went for it.


I struggle with haggling. I'm probably too nice when it comes to it. With some of the big online dealers, does anyone find any room to move with them ? Is a flashy website enough to justify paying above catalog or are they ready for a haggle ?
Pillar of the Community
Australia
4411 Posts
 Posted 03/12/2012  07:53 am  Show Profile Check enworb's eBay Listings Bookmark this reply Add enworb to your friends list Get a Link to this Reply
I have leart ypu have to haggle with them because they all allow for this in the price that they set. At the Adelaide ANDA show last year the dealer had $280 on the three coins I wanted to buy. I ended up paying $190. Its worth a shot with most dealers unless you know the price is already very decent.
Pillar of the Community
Australia
853 Posts
 Posted 03/12/2012  4:42 pm  Show Profile Bookmark this reply Add goatieman23 to your friends list Get a Link to this Reply
I guess it's a matter or want, desire & necessity.
I talk notes:
So in my case, if it's an early scarce polymer (a JC98 in my case, only 39,999 printed & now a 14 year old note) then I will pay above list for a lower grade, but as for the UNC, I'd pay 10-20% below list.
Sometimes I'll pay more for a low or high serial number too.
Valued Member
Australia
312 Posts
 Posted 03/12/2012  6:41 pm  Show Profile Bookmark this reply Add ADMISLSE to your friends list Get a Link to this Reply
so far, I have never paid anything over the catalogue price. Many of my Half Penny and Penny are paid even half of the catalogue price
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Australia
5004 Posts
 Posted 03/12/2012  6:53 pm  Show Profile Check trout1105's eBay Listings Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply
I am comfortable with paying what I think the coin is worth to me, Not a book price.
The book prices to me are just a good guide as to the coins rarity/desirability.
I have paid over these prices at times just to acquire a coin a really wanted without remorse.
If I collected purely as an investment I don't think that I would enjoy my coins anywhere as near as much as I do now.
So the simple answer to your question rbarat is YES in a heartbeat if I want a particular item
Aim to Enjoy life. You only get one shot at it
Pillar of the Community
Australia
4411 Posts
 Posted 03/12/2012  6:58 pm  Show Profile Check enworb's eBay Listings Bookmark this reply Add enworb to your friends list Get a Link to this Reply
Unless the coin is an absolute rarity for either its year, variety, error or grade then it pays to shop around and be patient, waiting for the right price. Eventually you will get it for what you want to pay.
Valued Member
Australia
106 Posts
 Posted 03/12/2012  7:06 pm  Show Profile Bookmark this reply Add airgem to your friends list Get a Link to this Reply
The whole concept of catalogues prices is to give a guide to value. The catalogue price is an average price . Worked out from some higher some lower prices. It can never be an exact price so that is why you sometimes see higher or lower than catalogue prices. With the advent of the internet and especially eBay there is an impression out there that coins should be cheap, with so many collectors trying to sell their coins at ridiculously low prices just to get rid of them. I am always hard pressed to find a coin I want at a fair or shop that is below the catalogue price, which, in my opinion is how it should be. To a dealer or reseller the replacement cost of the coin is very important. I am more than happy to pay more than catalogue price if the coin is correctly graded and not often available(genuinely scarce).
Valued Member
Australia
490 Posts
 Posted 03/12/2012  8:44 pm  Show Profile Bookmark this reply Add steve - Oz 50c man to your friends list Get a Link to this Reply
mostly I seem to pay about half CV, however there are a few items in the most recent Maccas which have just sold on eBay for more than 5xCV (and I bought two of them).
Valued Member
Australia
154 Posts
 Posted 03/13/2012  03:55 am  Show Profile Bookmark this reply Add rbarat to your friends list Get a Link to this Reply
Thanks for the replies everyone,
Bit of a mixed response for paying under, and also paying over in some circumstances, but now I don't feel so bad for paying over catalogue on a few banknotes I ordered on the weekend.


Quote:
Unless the coin is an absolute rarity for either its year, variety, error or grade

Interesting you mention this. Being new and naive to coin collecting, I'm probably too caught up in the numbers (mintages / past values / pcgs population report etc).
For example, there is a coin I'm looking on rarecoin's site (can we mention them?) which is well above catalog. Looks good, but well out of my price range.
Smart side of me says it aint worth it, but my gut feeling is that it could possibly have potential.
Is there an unbiased way to further research the real price of such an coin ?
Valued Member
Australia
148 Posts
 Posted 03/13/2012  04:06 am  Show Profile Check bellyflorin's eBay Listings Bookmark this reply Add bellyflorin to your friends list Get a Link to this Reply
rbarat,hmm I think I know who you are talking about, they do have some nice coins , but well over priced some of their coins have been sitting on their site for years, keep looking you will find.Be patient .

What is the coin you are looking for ?
Pillar of the Community
Australia
4411 Posts
 Posted 03/13/2012  04:12 am  Show Profile Check enworb's eBay Listings Bookmark this reply Add enworb to your friends list Get a Link to this Reply
If theyve been sittingthere for years its a perfect opportunity to haggle it down.
Valued Member
Australia
148 Posts
 Posted 03/13/2012  04:15 am  Show Profile Check bellyflorin's eBay Listings Bookmark this reply Add bellyflorin to your friends list Get a Link to this Reply
true enworb, but you would need to haggle , then haggle some more
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