"retail" Help Pricing Coins

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Author	Replies: 7 / Views: 946
snitchard Valued Member United States 420 Posts	Posted 02/16/2009 8:32 pm Hello, I was looking at some of my old posts and had some questions about pricing. Specifically about "retail" pricing. I'm going to use my 1993 Commemorative Silver Dollar as an example. I use "The Red Book" and "Coin Values" Magazine as my price guides. Now I know both are high. In fact I have a method when buying Commemorative coins. I take the average ebay price and 22.5% off of "The Red Book" price and use that as my range. So, in the example of my 1993 coin the average ebay price was #42.50 at the time of purchase and 22.5% off of "The Red Book" price is $34.25. So, that makes my range between $34.25 and $42.50. I paid $42 for that coin. I know my method is confusing especially since I don't know where I got 22.5% off of "The Red Book" price so I'm thinking that in the future I'll just make sure I'm 25% below "Coin Values" which in this case is $33.75 as the low point and "retail" ($45) as the high point, making the "average" for that coin $39.50 (rounded to the nearest quarter.) Does any of this make any sense to anyone? I don't know how do I determine what to pay? HELP! Thanks, Rich Report this Post to the Staff

nohope587 Pillar of the Community United States 5953 Posts	Posted 02/16/2009 8:57 pm I think you have the right idea but you are over complicating things... If the ebay average close price on a coin is $25 then thats pretty much what its worth. After all that's what other people are paying for it.... The only thing I would add is make sure you include the shipping costs in your ebay averages. Report this Post to the Staff
onejinx Pillar of the Community United States 1231 Posts	Posted 02/16/2009 9:09 pm Actually Rich you only need to set the highest price you are willing to pay. In reality there is no price low enough, but FREE Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 02/16/2009 9:42 pm I've done some "averaging" also but 22.5% off RedBook is usually not enough of a discount. I'd take 30% off most coins. We're not talking rarities which can vary dramatically above and below price guides. Today's coin market is down. If you have cash to spend, consider yourself in the driver's seat. There are many deals to be had at 50% of RedBook if you're not in a hurry. ANA #R3154474 Report this Post to the Staff
snitchard Valued Member United States 420 Posts	Posted 02/16/2009 10:24 pm Quote: I've done some "averaging" also but 22.5% off RedBook is usually not enough of a discount. I'd take 30% off most coins. Hello, Would 30% off of Coin Values prices be considered to high? Thanks, Rich Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 02/16/2009 10:47 pm Quote: Would 30% off of Coin Values prices be considered to high? Not if you're willing to pay 70% of retail. But seriously, this varies from series to series. Usually 30% off Coin Values prices is a pretty good buy on 20th century U.S. coinage. 30% off puts me in the ballpark of Greysheet "Ask" on the coins I collect and that's a good price. If you have some specific examples, the gracious members here at CCF will surely offer you their unbiased opinion. ANA #R3154474 Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 02/17/2009 08:56 am Quote: Actually Rich you only need to set the highest price you are willing to pay. In reality there is no price low enough, but FREE Not true. Someone could offer you money to take a coin so then it is less than free or would that be considered minus free? As to pricing a coin. Just remember that there is no real price on a coin. It is what someone will pay for one. I too look at the Red Book prices, then the PCGS web site. And also deduct about 20% or more. As noted though probably ebay prices are what a coin is really worth if it sells that is. Report this Post to the Staff
snitchard Valued Member United States 420 Posts	Posted 02/17/2009 10:57 am Hello, OK so, after reading everyone's posts it sounds like the best thing to do is have an idea of what I'm willing to pay for a coin (Modern Commemorative) before I go to my local dealer or a coin show. I'm thinking I'll take my own price list/want list with me and if I can't find the coins on that list but I do find something else I'll also take a price guide with me (Coin Values) or at least a copy of the page I need, sneak a look and take 30% off that price as an idea of what to pay or negotiate. Any thoughts? Am I on the right track? Thanks, Rich Report this Post to the Staff
	Replies: 7 / Views: 946

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