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 Replies: 26 / Views: 1,861 |
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Pillar of the Community
United States
7494 Posts |
Quote:
My dad used to say, "the value of anything is what you can re-sell it for the same day you bought it." My Dad said the same thing, too! And it still rings true today!
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Pillar of the Community
 2205 Posts |
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a coin is worth generally what MOST knowledgeable people who buy coins are willing to pay for it. There's a reasonable range up and down, and That sums it up nicely, good discussion
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Pillar of the Community
United States
7160 Posts |
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A coin is worth only what I am willing to pay for it.
You see "worth" is relative to the person doing the paying. Respectfully disagree. If you are only willing to pay $75 for a coin, but the last five sales at auction are $100 - 150, the value of the coin is $100-150 (more if you take the other costs of the auction into account). So, maybe the better statement of the sentiment in the title is "A coin is worth what someone has SHOWN they are willing to pay for it"
Edited by tdziemia
10/15/2024 5:40 pm
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Bedrock of the Community
 United States
94367 Posts |
Right - buy it, then try to re-sell it , that's what the coin is worth.
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Pillar of the Community
United States
7057 Posts |
There are coins I paid over market as I wanted them and there are much more that I said I won't pay that much. Coins are worth what people pay for them, being educated only lets you understand if you paid "market"
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Pillar of the Community
Canada
5045 Posts |
It is quite interesting that this simple "rule" is true in general but has many nuances giving some exceptions to the rule. Another exception is that someone sells it for less than they could have due to such factors as making a mistake or valuing speed of sale vs. highest price. Similar comments can be made when someone pays more than they needed to.
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Bedrock of the Community
United States
19674 Posts |
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a coin is worth generally what MOST knowledgeable people who buy coins are willing to pay for it. Exactly! 
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Moderator
United States
164145 Posts |
This remains a very interesting conversation!  |
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Pillar of the Community
United States
7160 Posts |
Quote:
It is quite interesting that this simple "rule" is true in general but has many nuances giving some exceptions to the rule. Another exception is that someone sells it for less than they could have due to such factors as making a mistake or valuing speed of sale vs. highest price. Similar comments can be made when someone pays more than they needed to. For all "common" coins (including things like the 1909-S VDB), we can consider those nuances in a statistical framework. The median of recent sales represents the most likely "value" of the coin in a certain grade. The low end of the distribution probably contains the coins sold quickly as you mention, the high end would contain the occasional bidding war at the other extreme.
Edited by tdziemia
10/18/2024 10:22 am
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Moderator
United States
54171 Posts |
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a coin is worth generally what MOST knowledgeable people who buy coins are willing to pay for it. The Greysheet now comes to mind.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Valued Member
United States
326 Posts |
When I asked my dad this question years ago while looking at a few of his coins, his reply was, "whatever I paid for it". I followed up with, "what's it worth now?", and his reply was, "whatever I sell it for".
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Moderator
United States
164145 Posts |
Quote:
When I asked my dad this question years ago while looking at a few of his coins, his reply was, "whatever I paid for it". I followed up with, "what's it worth now?", and his reply was, "whatever I sell it for". 
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Valued Member
United States
331 Posts |
I may be a bad example ... I'm always looking for "a deal". While stacking bullion is the exception, I always try to buy as low as possible.
I guess that supports the original premise ...
got me thinking ...
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Pillar of the Community
United States
1382 Posts |
Did 17,500 purchases of the 230th Anny Flowing Hair one oz gold coin on November 14th at $3,690 each establish an intrinsic value for that collectible ?
Edited by cptbilly
12/12/2024 11:26 pm
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Moderator
United States
164145 Posts |
Quote:
Did 17,500 purchases of the 230th Anny Flowing Hair one oz gold coin on November 14th at $3,690 each establish an intrinsic value for that collectible ? 
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Replies: 26 / Views: 1,861 |
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Posted 10/15/2024 4:44 pm
