How Many Set Of 2013 ASE Westpoint Mint Have You Bought?

The last time NGC failed to grade tens of thousands of ASE MS70, the year was 2008. The trend is not abating. In 2012, 120,972 ASE were graded MS70. I bet dollars to donuts that the 2013 WP set will produce more than 20,000 70 grades for each coin.




Yeah, right. Let's just see:

• 2013 W Silver American Eagle MS70 Burnished NGC Brown Label


• 2013 W Silver American Eagle MS70 Burnished FS PCGS Flag Label


• 2013 W Silver American Eagle MS70 Burnished ER NGC Star Label

The Brown Label (non FS/ER) sells for $89.95. The FS/ER coins in PCGS/NGC slabs sell for a huge premium and a total price of $89.95

Now I only listed 3 variations. SilverTowne has 7 MS70 and 7 MS69 SKUs for this coin. Still same price.



Because drunken monkeys, shill bidding, take your pick. I've bought and sold stuff on ebay, but I don't use it as a guide to market prices. This extends to everything on ebay, not just coins. Recently, I was shopping for a compact camera. That particular model sells for $296 at B&H, Amazon, etc. On ebay it sold for as much as $529.99. So a sensible person should ignore ebay prices.

Update, after checking the fine detail:

" Items included in this shipment:
1. 2013 AM EAGLE SILVER UNC 1 OZ (GB2) Qty : 1"

I realized that the code "GB2" is not for the set but it's the Burnished 2013 ASE...... hehehe.
Sorry for the false alarm..... :(

The sensible person would buy it (or any item) from the source with the best price and use ALL sources for comparison ...and not quote a "for as much as" price as the only ebay price...

ebay is just another(albeit huge) resource to be used. To ignore a place where you can get a range of prices on hundreds of sales of a particular item is ignoring a great UTD price resource. I've bought and sold hundreds and hundreds of coins on ebay but I never bought a single one at the "for as much as" price...that would not be sensible

The point is not whether you bought and sold coins on ebay. Who hasn't? The point is whether you should use ebay prices as a guide to value. Here is a factual example. I looked up 2000 Proof silver Eagle graded 70 by either NGC or PCGS. I had to ignore "Best Offer Accepted" prices, since I can't tell what those were, but they all seemed on a pretty high side as is the ebay way. There were 35 sales over last 90 days. Here is how they broke down.
Average $418.89
MIN $255.50
MAX $649.00
I did the same search with Heritage. 28 sales:
Average $334.71
Min $235.00
MAX $434.75

PCGS Guide $500. NGC Guide $500. A full 17% of eBayers paid more than full retail price on this coin. So, what does that tell you? What useful information can you glean from that?

2013 West Point Silver Eagle from Silvertown FS/ER 70s 289 non FS 259. That wasnt really the point though since it matters more what happens afterwards since bulk submitters like SilverTowne get completely different submission prices with how much they send in.




That tells me someone really wanted the coin, there may not have been many available at that time, and that the market changes. A coin could go for 500 one month and 6 months later bet going closer to 650 or 400.

Plus thats not even 1 out of 5 buyers, I would put money that more than 1 out of 5 buyers over pay for coins at shows or and LCS. Heritage also has a buyers fee which keeps bidding down that ebay doesn't. I would also bet that in most cases that ebay price paid was lower than what stores have it listed for.

Either way common sense would tell us there will always be a percent that over pay, always a percent that under pay, and the rest will pay about market value. That applies to any form of sales on any venue. We dont know why those people over paid, maybe it was the only one listed, maybe it was the cheapest they found, maybe it was the last one they needed and didnt care if it cost a little more, maybe they have no where locally to look, theres just to many unknowns to just say they dont have a clue. Theres also far to many examples of things selling for exactly what they should to then conclude that ebay prices dont matter because you dont agree with the prices for a percentage of the sales

Maybe than heritage.

SilverTowne was selling that coin for over $700.

Provident Metals is selling it for 470.

Graded Modern Coins is selling it for 493.

Goldmart, APMEX, and Modern Coin mark didnt have it at all.

While eBays prices were higher than Heritage they were lower than what stores were selling them for that did have them.

I only had 3 months worth of data, so it's hard to see why 6 months would be relevant.



Ok, how about this: 83% of eBayers paid more than the average price realized on Heritage.



I used Heritage Price Realized, which already includes buyer fees. Those who have difficulty keeping track of buyer fees, probably have a handy widget on their computer that would help. Also, Heritage tells you what the price would be including buyer fees.



I'm comparing Heritage to ebay. Local coin shops are a completely different species. The good ones provide services beyond mere sales. The bad ones shouldn't be bothered with.



You forgot the most obvious reason. Those people are morons. I used an example of a coin that isn't dirt common, but at the same time, not particularly rare. Between PCGS and NGC there are about 2,500 of them. And when someone pays $649 for a coin the rest of us can obtain for around $335, that's not exactly cost a little more.



Except when that percentage exceeds the average at other venues a whopping 83% of the times, one is justified in drawing certain conclusions. I don't think that anyone cares that I "agree" or don't "agree" with prices people pay for something. However, when a certain group consistently overpays by a large amount without getting any discernible benefit, I learn to discount opinions of those people.