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How Much Should I Pay For A Coin?

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snitchard's Avatar
United States
420 Posts
 Posted 05/26/2016  6:33 pm Show Profile   Bookmark this topic Add snitchard to your friends list Get a Link to this Message Number of Subscribers
Hello,

I'm just getting back into coin collecting after a couple of years off and I was wondering about how much to pay for a coin. Here are 2 examples of what I'm seeing

I'm looking at a 1988 Silver Eagle. This coin retails for about $29 and a local dealer is selling for $30. I'm willing to pay the $30, am I over paying?

I also saw a 1976 3 coin mint set at an antique shop selling for $40 My online research showed the average price for this set to be about $21 so I will not be buying that set because that is way over priced.

Am I on the right track At coin shows I aim for about 15% under retail.

Thanks,
Rich
Rich M. - Collector since 2008
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CoinCollector2012's Avatar
United States
8137 Posts
 Posted 05/26/2016  6:45 pm  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
Looks like you know what you are doing.

Remember, no price is set in stone, I always try to negotiate a better price when I am buying a coin. One of the things I aim for is to never pay the price on the 2X2. You could also look at ebay as a buying option. Here is one that is a dollar more, but you could probably get an offer accepted in the high $20s

http://www.ebay.com/itm/1988-Silver...AOSwHPlWg0r4
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sel_69l's Avatar
Australia
21786 Posts
 Posted 05/26/2016  7:08 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
How much should you pay for coin?
How much can a Polar bear?

A better answer is:
Do your market research first.
A following answer could be:
How much will the market bear?
Unfortunately, Mints set their pricing for new product with this philosophy in mind.
Fortunately, the aftermarket usually sort these sorts of pricing errors out.

At least, you are already on the right track with your own market research. A good discipline to have with any expensive coin purchase.
Same applies fake research.


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Andrew99's Avatar
United States
1533 Posts
 Posted 05/26/2016  7:55 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
1988 Silver Eagle $25
1976-S 3 pc mint set $18-20

Those are retail prices
Rest in Peace
Parklane64's Avatar
United States
2668 Posts
 Posted 05/26/2016  8:38 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
What you think it is worth.
Rest in Peace
T-BOP's Avatar
United States
18456 Posts
 Posted 05/26/2016  8:54 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I would say look at e-bay for those coins. And like CoinCollector2012 says : Never pay the price on the 2x2 holder ,no matter where you buy from .
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