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 Replies: 15 / Views: 1,416 |
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Pillar of the Community
United States
1055 Posts |
There are many price guides out there. Most numismatic magazines produce one and all vary in price somewhat. Also Numismedia is a site I use regularly.
I know the Coin Values Mag- Prices are usually higher than most. Is this guide like a high end value you could expect for PCGS or NGC graded coins?
Is it ok to spend up to Numismedia value for a certified coin? Raw? Or would I be paying too much.
I just wanted to see what some of your experiences were.
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Pillar of the Community
United States
2661 Posts |
I try not to pay more than blue book if I can help it.
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Bedrock of the Community
United States
20753 Posts |
I just open up the Red Book and usually pay dealers about double what the price is in there.  Of course a better method is to use the price guide in the PCGS forum since it is 1000% accurate.  Please remember that ALL guides are just what they say, GUIDES. Not a realistic price table, price gurantee, price anything except a GUIDE. And remember the ones put in magazines or newsleters that are published either monthly or every few months are not mental giants that can predict the future. Red Book as an example is now the 2010 edition and the prices are so far off now but well may be true in 2010. Most people use the Grey Sheet as a true, presently current GUIDE. Again, though it too is a guide. There are no manufacturers list prices stamped on coins. The price is what you are willing to pay. |
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Valued Member
United States
295 Posts |
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Valued Member
United States
383 Posts |
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i use coin values Yes, but where do you get the values? |
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Pillar of the Community
United States
2540 Posts |
Coin World has a monthly price guide. It seems to be fairly accurate.
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Bedrock of the Community
United States
20753 Posts |
Quote:
Coin World has a monthly price guide.
It seems to be fairly accurate.
Glad you said fairly accurate. Another item is the location of the sales on coins. Although you wouldn't think so but coin prices do fluctuate in different areas of the country. One dealer I know that travels a lot to coin shows all over the country. He told me that he could sell coins for a lot more in some areas for almost Red Book prices and around here he couldn't possibly sell them for that. Also, large coin shows usually charge more for coins than small shows as a general rule and again, more for coins in some areas of the country. |
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Moderator
 United States
188046 Posts |
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Although you wouldn't think so but coin prices do fluctuate in different areas of the country. I agree. Coins are no different than groceries, cars, houses, fuel, etc. |
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Rest in Peace
United States
5375 Posts |
I mostly use numismedia and heritage as a selling guide and take about 10% off that. It's pretty reasonable for retail prices.
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Valued Member
United States
429 Posts |
The most obvious place to see this is anyone that sells coins over the Internet. If you brought up two stores with the exact same items, they most likely will be different. For example, if I want to buy a Large Cent I try to buy it from somewhere on the east coast because there seems to be a fair amount of them there than on the west coast (where I am). But even if you look in different stores the prices will vary. The thing that I find funny is that I went to a local coin store and was waiting behind someone wanting to buy gold and silver, the dealer actually called another store (with no connections) to see what they set the prices of their gold and silver at and sold them for that price. Now, it seems to me that your store should set the price and not someone else.
The other thing to be careful about is knowing what the coin store uses as a price guide. Some will use monthly magazines, others the grey sheet while some just pull a number out of the air. At the end of the day it is up to you to decide if the price was worth it or not. If you felt you paid too much, learn from it and move on, if you felt you got a great deal, then go back again. Everyone here has their own method when buying coins and here is a bit of advice from me: look for stores that have the price already marked on the coin and say they go with the given price no matter what. If you spend enough time going through everything you will find a lot of great deals, this is how I have lucked out on some of my collection.
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Pillar of the Community
United States
581 Posts |
As has been touched upon - there is no set price. The price of anything is whatever someone is willing to pay. Sorry, because I hate those kind of answers. The simple, short answer as to what guide is best is whatever one the seller is using. I can go to my local coin shop and wave the gray sheets around all day long and I won't be buying anything there since he uses Coin World to set his prices. Perhaps more important is to choose one and STICK with that one. Otherwise you will become really confused. |
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Valued Member
United States
257 Posts |
I've found that both Numismedia and PCGS guides tend to reflect higher end retail pricing. I would give Heritage Auction auction results a look (free sign-up), since auctions better reflect the true meaning of Fair Market Value, i.e., what willing seller and a willing buyer can agree on at arm's length. All of that being said, some coins may be worth a premium to you and, if so, go for it.
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Pillar of the Community
United States
2540 Posts |
Carl:
Thanks, I try to be precise in my statements.
Also, how the heck do you do quotes on this forum?
I can't find a quote icon.
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Moderator
United States
188046 Posts |
Quote:
Also, how the heck do you do quotes on this forum? In case you missed it, we answered you here! Edited by jbuck
06/24/2009 11:50 am
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Bedrock of the Community
United States
20753 Posts |
Quote:
Carl:
Thanks, I try to be precise in my statements.
Also, how the heck do you do quotes on this forum?
I can't find a quote icon.
A bit confusing for sure but kind of simple too. You just highlight what you want to quote, go to the edit thing, usually at the top of your page, in edit use copy, then back to your answer here, at at the top of this screen there is that little page symbol with an arrow. Click on that and two quote things appear. Place your cursor in the middle of those and then back to edit and now paste. Not the easiest thing but you get used to it. |
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Valued Member
United States
110 Posts |
Penny Pincher,
a lot of times when a dealer calls another for bullion prices, it is because (generally) he doesn't do a super large amount of bullion out of his store. he is probably calling his bullion source, and finding out what it is going to cost him to replace the item that will be leaving his inventory. He will add a small percentage to make a buck or two, and send an employee over to his bullion source later in the day to get replacements. At least that's why they did this at the three stores I worked at.
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Replies: 15 / Views: 1,416 |
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Posted 06/13/2009 3:58 pm
