| Author |
 Replies: 21 / Views: 5,824 |
|
Pillar of the Community
United States
564 Posts |
I posted a listing on craigslist that I was looking for old coins. I had someone respond and say he wanted to sell his coins. He wants us to agree on a coin grade then look at the "list" price for that coin and get the price. Whatever that price is he will take 20% off that. I was wondering if you guys think this is a good idea to buy coins this way. Also what would be the most accurate price guide to use? I know the Red Book can overprice coins. Any input would be great! Thanks! Edited by afclassic87
07/20/2010 9:06 pm
|
|
|
|
Pillar of the Community
555 Posts |
The most current prices would be recent auction sales, or ebay sales. |
|
Valued Member
United States
230 Posts |
I would ask him what list he wanted to use and take it from there. But he is probably thinking RedBook. Now if you could talk him into using the bluebook. |
|
Pillar of the Community
 United States
564 Posts |
Alright. I agree with using ebay as a guide, but I didn't know if there was a book coin shops use to generate the selling price. Would 20% under that price be worth my time? I have never had someone want to do it like this before. I normally buy the whole lot of coins then sell what I don't want. |
|
Pillar of the Community
United States
564 Posts |
I think I'm gunna just go with 20% under ebay. That I think is fair. I'll keep you all posted as to what I pick up from him. |
|
Pillar of the Community
United States
1080 Posts |
well, shops often go by the greysheets, you can research them online http://www.greysheet.com/. You can buy a single issue or subscribe. Keep in mind that RedBook is generally retail and bluebook is generally wholesale. (and as others have said, RedBook is often overpriced) |
|
Bedrock of the Community
United States
10284 Posts |
Let him do the research and make his list at what he will sell them for. Then you can look them over and either agree to buy at his price or not. I don't know how many free appraisals I did until I realized I was just being used to price peoples stuff for them.
If some are priced just a bit high, maybe you can dicker on a price after you get your no hassle purchases paid for and in your possession.
|
|
Pillar of the Community
United States
564 Posts |
I just ordered a free copy. I'm kinda shocked you have to mail in to get a copy. I figured it would be online in PDF format. I'm interested to see what the greysheet is like.
|
|
Bedrock of the Community
United States
20753 Posts |
Not sure how big a collection your discussing here. If your going to use ebay or any price listings and if the collection is large, you'll be doing a price thing for a long time. I would ask him about how many coins is there? Are they in Albums, Folders, 2x2's, a bag, a jar or what? You may want to make him a bulk price for everything if you have some idea of what is what. Also, if some are on the really valuable types you may well want to check for fakes. People can throw in fakes in a large collection thinking they will not be detected. If your going to use a price listing of any kind, the grey sheet is what most dealers use but if you use that, you'll be paying the same as if you went to a coin show or store. Be carefull of what you see on the internet. Remember attempting to return stuff is not so easy sometimes. |
|
Pillar of the Community
United States
4212 Posts |
Just which list he is referring to can be HUGE. I do alot og CL buying, and 80% of the people go by PCGS, seeing how they have a very user-friendly site, and those are the highest values they can find. Yes, bay recent - 20% sounds good.
|
|
Pillar of the Community
United States
564 Posts |
The collection I don't think is all that big. He wants to sell them for 20% under Coin Values magazine price. I have never look at this mag. Is it know for fair prices? I'm gunna try to get him to use the greysheet. But if I can't is that mag 20% higher than greysheet or is it much more?
|
|
Pillar of the Community
United States
2120 Posts |
BTW, just for safety reasons I would take a friend or two with you, they can stay in the car so it doesn't seem threatening, but I would not go alone. Too many craigs list scams. Also, dont bring any cash with you. after you negotiate and settle on a price, ask him to head to the nearest bank with an ATM. they have cameras so when you withdraw funds you are less likely (but not completely) to be robbed.
Just stay safe and think ahead.
Something my squad leader always told us while I was in the Marines was "Always be Polite, Professional, and have a plan to kill everyone you meet."
|
|
Bedrock of the Community
United States
10284 Posts |
Quote:
Coin Values magazine price!  That magazine is probably 20% over the Red Book. The advertisers in those magazines have an interest in the values they put on coins in there so they can justify their prices in their ads. No way, even then with 20% off you will be buying full retail. I suggest you sit and look over his magazine first and have your coin grading thinking cap on straight too. |
|
Bedrock of the Community
United States
10284 Posts |
Coinage, Coin Prices, Coin Values, most any coin collectors magazine is a great read if you own coins and want to believe you have a more valuable collection. These are available at some hospital gift shops and larger newsstand stores around here.
Knowing how to grade is just as important as any price guide can be too.
|
|
Pillar of the Community
United States
1882 Posts |
Quote:
I just ordered a free copy. I'm kinda shocked you have to mail in to get a copy. I figured it would be online in PDF format. I'm interested to see what the greysheet is like. They are online in a PDF format...for $8 you can get a weekly greysheet and the monthly supplement, and cover most of the bases. |
|
Pillar of the Community
United States
921 Posts |
I could be wrong but I don't think this guy will be happy selling 20% below grey sheet prices. Quote:
Something my squad leader always told us while I was in the Marines was "Always be Polite, Professional, and have a plan to kill everyone you meet." Like the quote.  |
| |
Replies: 21 / Views: 5,824 |
Posted 07/20/2010 9:56 pm
