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 Replies: 23 / Views: 2,982 |
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Pillar of the Community
United States
7123 Posts |
wornslick a little something to sweeten the pot, while I agree that the RedBook for the most part is not a real good price guide, the take a percentage away does not always apply. there are coins which are considered conditional rarities that far exceed the prices which are listed in the RedBook. most of these coins will be coins that have an exceptional strike or simply did not circulate like most of their contemporary counterparts. full step business strike nickels from the early 60's are an example of coins which would fit the conditional rarity catagory. |
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Valued Member
United States
84 Posts |
Sorry a little off topic, but I have noticed that magazines do the same thing and publish magazines dated 2-3 months ahead of the current date. I wonder if there is a good reason for this.
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Pillar of the Community
 United States
1304 Posts |
Metalman, When I asked for the RedBook for Xmas I must have misunderstood that it would give me a fair price on coins. I realize that there are coins out there that are excellent quaility and that RedBook will not come clsoe to setting a price on them, but I am talking about average to a little above average coins. So my next question is, when I make a trip to the coin shop, how do I, as a newbie, know that I am getting a fair deal on a coin? I have the RedBook and a copy of Coin Prices from Januaray 2010. Thanks, Wornslick |
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Pillar of the Community
United States
6326 Posts |
ebay would be a good place to check things out for what the "current market prices" are on your Proof & Mint Sets. Keep this in mind though, if you intend to sell them, coin shops must buy your coin materials "well below" their current value, in order for them to re-sell them for a profit. Some consider this "ripping you off", but you must understand that they are only in business to "make a profit". So..... they WILL NOT give you the best price on your stuff generally ! Not to say that you can't find some deals there when "purchasing" coins.....but just don't expect the highest price for your coins when "selling" them there.
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Pillar of the Community
United States
1304 Posts |
Thanks eaglefoot, I am planing on making a trip today to the coin shop to buy a few coins, that is why I was wanting to know about what a fair price would be and how to go about finding that out. I will take a look at E-Bay.
Wornslick
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Moderator
 United States
189502 Posts |
Quote:
So my next question is, when I make a trip to the coin shop, how do I, as a newbie, know that I am getting a fair deal on a coin? I use NumisMedia for current prices. In my opinion, they are solid retail prices, so treat them as the upper price limit when buying coins. By the way, the pages render quite nice on my Droid, making it handy on-the-go.  |
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Bedrock of the Community
United States
20753 Posts |
Quote:
Sorry a little off topic, but I have noticed that magazines do the same thing and publish magazines dated 2-3 months ahead of the current date. I wonder if there is a good reason for this.
A thing that we all are responsible for. Autos come out with dated for the next year. Some autos are made in the middle of one year and get the date of the following year. If that makes people irritated, they then give them dates like 2009and a half. Almost all stores pop up with Christmas stuff right after Holloween. We want the Sunday newspaper on Saturday and sometimes in the morning. We all want a weather report for the next 7 days and we all know they can't even tell us what is happening now. Many people are already discussing the 2010 coins and want them now. We live in a society of people that want to know the future I guess. Quote:Thanks eaglefoot, all's right with the world again. LOL So would it be fair to say on Proof and Mint sets, take 15-20% off the price listed in the RedBook,Silver coins also? Wornslick That is something you just have to learn about purchasing coins. There is no manufacturers list prices on coins. This means there really is NO real price on them either. There are tons of price guides out there and they are just that, GUIDES. Taking one with you to a coin store is a decent idea if you don't know prices. Always ask a coin dealer if that is his best price on a coin you are interested in. With coins, it's sort of like going to a used car dealer or buying a house. They say one price, you come up with something else. They may counter anther price. You do the same until a deal is made. If you want to use the Red Book just remember that the vast majority of prices shown are at least 20% to 25% over reality. |
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Pillar of the Community
United States
1304 Posts |
Quote:That is something you just have to learn about purchasing coins. There is no manufacturers list prices on coins. This means there really is NO real price on them either. There are tons of price guides out there and they are just that, GUIDES. Taking one with you to a coin store is a decent idea if you don't know prices. Always ask a coin dealer if that is his best price on a coin you are interested in. With coins, it's sort of like going to a used car dealer or buying a house. They say one price, you come up with something else. They may counter anther price. You do the same until a deal is made. If you want to use the Red Book just remember that the vast majority of prices shown are at least 20% to 25% over reality. just carl, you just cleared alot of questions up for me, Thanks. Wornslick |
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Replies: 23 / Views: 2,982 |
First Page
Posted 12/29/2009 12:13 am
