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 Replies: 10 / Views: 1,585 |
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New Member
United States
33 Posts |
I was just wondering about something on ebay I see coins selling and I look the price up in the Red Book 2007 the price in there is real cheap but people are bidding a lot higher price than the book is this logic or do they just want it that bad or is my book wrong on the prices need to know something where I want pay an outrageous price thank you for your comments remember I'm just really starting my main thing to collect is Mercury dimes |
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Valued Member
United States
206 Posts |
Im not sure what to tell you. What are the grades on these Mercury dimes? Are you sure that your looking at the same grade in teh RedBook? |
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New Member
 United States
33 Posts |
yes most of them I'm looking at is like ms62 ms63 ms65
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Valued Member
United States
206 Posts |
How much are they going for? The ones at my local coin shop that are in GEM BU condition are between $7 and $9. Maybe the Mercury dimes that you are looking at may have errors or could be the 1942/1941 over print/stike variety. Can you give me a link of a couple examples of the ones that you are looking at on ebay? This would be able to help me out. Thankyou, Ben |
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Pillar of the Community
United States
2443 Posts |
It could be because they're slabbed(PCGS usually commands more than the others). Demand is greater than the supply. The coin had an error in it. The coin is a variety. Two people want it really bad. It could be a coin that's generally hard to find in that condition so people are more likely to bid strong on it, etc. The possibilities are endless. Just remember that the RedBook doesn't have accurate prices, it just give you a general idea. |
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Pillar of the Community
United States
1952 Posts |
it could also have something to do with Red Book. it is out dated before the year even starts instead of putting out the 08 in 07 they should put out the 09. almost like a new PC it is out dated before it gets out the door. I use Red Book but I always use gray sheet for a price guide and it is always higher Gary |
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Pillar of the Community
United States
2254 Posts |
fairj, Everyone has given you pretty good reasoning on why this is happening. I will reiterate that the RedBook is a "reference" book per say, certainly not an all knowing price guide. One thing that is very common on ebay in all sales is "auction fever". Two or more folks just don't want someone else to have something. They may think that if this guy is willing to bid this high, maybe there's something I don't know or haven't read yet, I better jump. Now throw into the equation a new collector that has been told to look at the PCGS website for pricing, and viola, the coin goes for 150% over real price at least. If nobody has informed you, the PCGS website lists pricing of the "highest ever" price realized for that specific coin and grade. it is not an accurate price of the market. So you can see, it is very easy for this to happen in my opinion. |
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Bedrock of the Community
United States
19968 Posts |
I get MUCH better deals on coins at my local shop. It takes a good bit of luck to find a nice buy on ebay. |
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Pillar of the Community
United States
533 Posts |
I try and stick to my local coin shop as well. I know I can get a good price and can actually see what I am paying for. I do buy from ebay but always keep in mind that the price will probably be higher even before shipping is added. I also try to keep in mind that the Red Book is for reference only. I use it to look up mintage's, years, etc. and rarely even pay attention to the values. |
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Bedrock of the Community
United States
62064 Posts |
The slabbed coins always have an extra price added on in order to pay for the fees. I never allow more than the books give us an idea on the price even for a slabbed coin. I've got two slabs. Couldn't pass up the price I paid for each of them.
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Valued Member
United States
470 Posts |
The answer is simple....people on ebay will buy anything. Most of them don't know what they are buying and what it is actually worth. It's crazy ..and I mean crazy in a good way; if you are a seller. Case in point: As a test, I took 7 bicentenial halves that I had pulled from circulation. I put each one in a clean 2X2 and stapled them. Nothing writen on them, nothing misleading in the description. It said something like 7 bicentential halfs VG-XF. The opening bid was $9.99 and they sold for $14.75. Not bad for $3.50 worth of coins pulled from circulation. There could be some rare variety that I'm not aware of and I got cherrypicked ...but I don't think so. |
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Replies: 10 / Views: 1,585 |
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Posted 10/10/2007 10:17 pm
