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A Price List Question

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hockingzig's Avatar
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 Posted 04/21/2011  10:55 pm Show Profile   Bookmark this topic Add hockingzig to your friends list Get a Link to this Message Number of Subscribers
When I look at price lists,I can never tell if I am looking at wholesale or retail prices. For instance,many lists say fair market value,but looking at the prices they look like wholesale prices. How do you tell?
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Darth Anarchus's Avatar
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 Posted 04/22/2011  12:55 am  Show Profile   Bookmark this reply Add Darth Anarchus to your friends list Get a Link to this Reply
It depends on what list you are looking at... The Red Book usually has higher than normal prices, but has a great amount of knowledge. The greysheet is what dealers will usually pay for a coin. An average of the 2 usually put me in the right place... But that's just my opinion...
Bedrock of the Community
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 Posted 04/22/2011  08:19 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Remember there is really no such thing as a price list. All of them so called price lists are really just price Guides. By that I mean there is no real way to say a coin is worth this or that. There is no manufacturers suggested list price on coins. A Nickel is really only a Nickel and if someone wants to pay a dollar, ten dollars or a million dollars for one of them, then that is the price for that coin.
The many people that attempt to make a price list are basically just guessing what a coin is worth based on past records of what people will, might, could, should, may pay for one. Then they take into consideration of other factors such as availability, the economy, the weather, price of bread, their kids shoes, etc and make a new price guide. Usually those making such listings hopefully look at other such lists and try to copy them but from what I usually see, I still think the price of their kids shoes have more effect.
As already noted most dealers today try to go by the Grey Sheet since once that got started as a dealers choice for prices, it sort of sticks with most people.
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Libertad's Avatar
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 Posted 04/22/2011  08:26 am  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
But price guides are based on track records, and mostly by the time they are printed they are already obsolete. Most guides will tell you within the first few pages (publication info) what data it relies on to make these choices.
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hockingzig's Avatar
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 Posted 04/22/2011  08:47 am  Show Profile   Bookmark this reply Add hockingzig to your friends list Get a Link to this Reply
The reason for the question is I am planning to set up a table at a few flea markets this summer to get rid of my excess collectibles,which includes stamps,gems,minerals,autographs,baseball cards,and coins. With the coins,the ones that aren't silver I was going to price somewhere between wholesale and retail but every"price guide" I look at is so different I don't even know where to begin. The RedBook is already a year+ old when it comes out. Numismedia claims FMV but are those retail or wholesale FMV's? That is my dilemma.
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jbuck's Avatar
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 Posted 04/23/2011  10:54 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Numismedia claims FMV but are those retail or wholesale FMV's?
In my experience, NumisMedia is a retail price. The Red Book is also supposed to be retail prices, whereas the companion Blue Book is wholesale.
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 Posted 04/23/2011  1:37 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
But price guides are based on track records, and mostly by the time they are printed they are already obsolete. Most guides will tell you within the first few pages (publication info) what data it relies on to make these choices.

Which is one of the reasons the latest Red Book has so many prices either the same as in the 2010 and/or the 2011 edition. And also, some prices down. I suspect they are getting tired of people slamming them for excessive prices.
If you don't have a Red Book, get an older one, price all your coins at about 10% to 15% less than a 2010 or 2011 Red Book.
Remember at flea markets the rule of thumb is to haggle prices. If you made a $10 coin listed for $1, someone would offer you $0.50 and some even less. Anyone paying what is asked at a flea market surely must be from another planet.
As to what may or may not be written on the first pages as to where the info came from. If you start believing that, I have an Empire State Building for sale. Also, one used Brooklyn Bridge for sale also.
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Bryan1315's Avatar
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 Posted 04/23/2011  6:18 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
what you need to do is get a grey sheet and then look at numismedia and add those two together and divide the price by two and that should be pretty close. Grey sheet is what a dealer would pay for the coin, numismedia is retail

Edit: I see Darth Anarchus and myself have pretty much the same idea just different guides
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hockingzig's Avatar
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 Posted 04/23/2011  6:34 pm  Show Profile   Bookmark this reply Add hockingzig to your friends list Get a Link to this Reply
Thanks Bryan,sounds like a reasonable solution.
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vermontensium's Avatar
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 Posted 04/23/2011  6:47 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I use the Greysheet mainly but use Numismedia also as an "equalizer" between the two. Don't use the Red Book.
Now on Keys, availability is key. That will generally dictate their buy/sell prices. Sometimes the bottom line is what you are willing to pay for a particular coin. Look at these legendary coins going up for auction. The 1913 Liberty nickel is a perfect example.
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