What Source Do Some Of You Use To Value Your Coins?

Value for any collectible is ever changing. Some coins will rise and fall with extreme changes in the value of precious metals( e.g. gold coins in the past year), but for most numismatic coin values the buy and sell market is the key and for some series and grades it can be volatile. Therefore, a multi pronged approach is suggested.
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1) Red Book offers a great overview of coin series and overview of "value" over time and the past year.
2) ebay SOLD listings is a pulse on the buy sell market as are sold coins at Heritage, Great Collections
3) Greysheet gives a snapshot of the value and trends in the "wholesale" market. Depending on the time, it can also be close to retail
4) the newly retitled RedBook Quarterly is a reflection of the retail market
But remember,
5) all coins of a certain grade are not created equal. Eye appeal is essential, toning maybe preferred or not and value is in the eye of the beholder (owner or buyer).

For me, I look at all of the above when purchasing and selling.

I use grey sheet.

I also use ebay sold but those prices are higher than I usually pay.

keep in mind that any prices obtained from sites where the coins are slabbed are priced higher than raw like PCGS or the auction houses.

numismedia is pricing raw. you can use ebay sales/numismedia and RedBook average to get a pretty value for the coin. however it comes down to grading. if you don't have a handle on grading that particular series then it really doesn't matter as the swing in grades could be a lot and skew the actual value of the coin you are looking at

When I am looking at a particular coin there are many variables. First I'm trying to find the best example that fits my desires. By the time I find one that meets the qualities I am looking for I'm usually a bit over the budget I want to be at.

So, if I also find in my research that realized auction price history supports that I am pushing my budget I will pass on the coin and wait for another opportunity in the future.

I tend to use realized auction pricing and quality caparison to be my final check to confirm that my grading, judge of eye appeal, or perceived scarcity matches what the current market is exhibiting. This process ends up making me pass on more coins then I actually purchase.

I'm not trying to get the best 'deal.' I'm trying to purchase the best quality in my price range for the particular set I am working on. Always pushing the quality.

FIRST

Why are you seeking valuation?

There is a difference between a casual valuation, valuation for insurance purposes, valuation for taxation, etc.

Insurance valuation is the trickiest because of full replacement cost policies. It should be easy to replace a MS65 1921 Morgan dollar. It may be nearly impossible to replace a CAC approved Pine Tree Schiling. And the valuations need to reflect that.

Valuation for taxation purposes needs to be defensible, i.e. you need to show that you've made a reasonable effort.

Valuation for splitting up an inheritance just needs to be something the parties agree upon. I know of a case where a 1963 inventory was used in 1985.

Valuation for estate taxation is complex because it needs to be as of the date of death.

I agree with a multi-pronged approach for valuing a collection.

I use ebay sold listings, but even there you will see a decent range of sold items priced on the identically-graded coin over the past 2 months. This may have to do with random fluctuations, when an auction ends (3 am is not conducive to snipers in the US, auctions ending on weekends usually have higher sold prices), the seller's feedback history, good clear photos of the coin, and other variables.

I like numismedia too, as many coins I have bought at coin shows, ebay and other sources tend to be pretty close to the value listed in numismedia. Coin World also has a price list in their magazine but they are usually a bit high. I almost never buy a coin at Coin World list prices.

I use the current price of silver and gold for valuing precious metal-containing coins.

I find the Red Book to be a great source of information, but not so great for values of coins and does not get updated enough. I find PCGS and NGC prices are a bit high. I personally feel that ANACs graded coins do not command a high enough price despite being graded properly. ANACs-graded coins tend to be undervalued.

And I use my own experience as a buyer of coins at coin shows or shops. I try to get dealers to come down on more expensive coins and I frequently walk away when they don't come down far enough. But now I have information on the coin's possible sell value. Sometimes I will find the same coin/grade at another dealer at the same show that will come down in price more- may have to do with how much they have in the coin, how eager they are to make sales and other factors. Shopping around at a coin show, rather than picking up the first one you see, is a good strategy to make sure you get the coin for the best price.

Coin shops are hit or miss. Their prices tend to be higher due to overhead, so I don't buy as much from coin shops. I have seen coins at many flea market, antique stores, and thrift stores and they are almost always way overpriced, often higher than a typical coin store. It is rare for me to buy a coin from an antique (or related) store.

I agree with the above on valuing a collection for insurance purposed, versus if you have to sell versus a future estate sale are all different price levels. One should plan for future sale of collection if needed due to financial or medical issues, or because you are getting older and need to thin out or sell out before you pass away. The collector has way more knowledge of value than any family member would.

I've used the Red Book since 1971.

When I'm doing an "appraisal", I will consult the Graysheet, ebay sold listings and one "retail" site ... gives the market variations definition for the owner.