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Posted 09/13/2024 10:17 pm
No clue who bought the coin for $200, but that's a failure to shop around. There are several similar examples of this die on ebay for $149.99/best offer. In a PCGS MS65RD slab the coin would likely sell around $240 (full guide value is $285, last one I could find sold last year for $235). So someone buys the coin for $200, invests around $60 to get it in a PCGS slab and hopes it goes MS65RD. So they have $260 in the coin and slab. They decide to sell it, it goes for $240, they pay about $30 sellers fees and shipping and whatnot. So their total outlay is $290 (coin plus grading plus sellers fees) and total income is $240 for a $50 loss. Pretty much $150 is the break-even price for the coin, or it is just plain cheaper to buy one already slabbed and then there is no risk that it comes back with a low grade or worse a "details" grade for wheel marks, which happens all too often.
The economics of coin grading and buy-in price for RAW coins can be tricky, and far too often people buying coins lose out in the process. But I spent $8,800 last year in grading fees, so I do know how it works and at what point a coin is just priced too high to start with. Sure, the buyer may not be looking to grade the coin, but then it's still a $150 coin on ebay, and with buyers fees they would get $135 if they sell it, losing even more money.
I try not to comment on coin prices too much here, but you asked, and the answer is no, I do not believe you should have got more for the coin, rather a whole lot less.
The economics of coin grading and buy-in price for RAW coins can be tricky, and far too often people buying coins lose out in the process. But I spent $8,800 last year in grading fees, so I do know how it works and at what point a coin is just priced too high to start with. Sure, the buyer may not be looking to grade the coin, but then it's still a $150 coin on ebay, and with buyers fees they would get $135 if they sell it, losing even more money.
I try not to comment on coin prices too much here, but you asked, and the answer is no, I do not believe you should have got more for the coin, rather a whole lot less.
