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 Replies: 10 / Views: 1,388 |
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Pillar of the Community
United States
1374 Posts |
So, I'm having a tough time accurately deciding what my coins are worth. We are talking raw coins here. Typically, I feel that if I want a real time quote on a coin that I can just search completed ebay auctions to get a good idea. (Not to mention sellers of coins on ebay are taking a hit for listing fees and paypal). However, it seems ebay auction prices are always below those of the Greysheet and numismedia. Is this due to the lack of inspecting coins in-hand? For example, if I go into a coin shop looking for a particular type... I will have researched the type and grades before on ebay. I won't buy anything in-hand unless the same coin demands equal or more on ebay. Needless to say, I very rarely buy coins from a dealer. Most often from pawn shops or the like. I know, shame on me. I also view my coins as an investment. I'm young, and one day I intend on selling off some of my coins to buy land. The sentimental coins I will keep for myself and pass on. It has been tough for me to figure out if I am getting a good buy or not. |
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Valued Member
United States
184 Posts |
ebay has really changed the game from what I hear. I watch auctions online a lot and these coins go for wayyyyy more than what you could find on ebay. Plus you'd have to pay the %18 commission fee and then shipping. I honestly still haven't been to a coin shop so I don't know the experience from that. I've been roll searching which is great when you can find things. But for other things like you said if you can't find a deal at your dealer I still would say ebay is the way. It is what most people I read say to check out first.
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Pillar of the Community
United States
619 Posts |
Coin shops are great if you don't want to hunt around forever. They're not the cheapest, but you usually know what you're getting. Pawn shops can have some really nice deals if you know what to look for. Don't be ashamed to check them out. ebay is the best of both worlds: you can often find good deals with a minimum of effort. |
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New Member
United States
19 Posts |
When pricing coins or determining their worth, it's important to keep in mind that everyone under the sun has their own price guide, some more well known than others, and just like most things in numismatics, prices can be highly subjective. There are no hard rules to pricing your coins, but I would say that NumisMedia and the Greysheet are definitely great places to start. ebay is highly variable as well. I've seen coins on ebay sell for a fraction of their actual value, due to the sight unseen aspect of the purchase, but at the same time I've seen coins sell for waaaaay more than what they're worth, simply because you have a group bidders who have a desire for a certain coin, creating a highly profitable bid war. To determine a good buy, I would try to examine price trends for your individual coin or type that you are investing in. You can do this by looking at archived auction records, or by reviewing successive editions of the Red Book (if these are available to you). This will give you a good idea of the growth rate for your investment. Once you've established yourself, I would move onto higher grade, certified coins which offer a much better return on investment, which I'm sure you already know! |
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Bedrock of the Community
Australia
21786 Posts |
The best defence for yourself is to keep abreast of current pricing in your area of interest. If you are collecting quarter dollars, for example, you just keep browsing the current pricing lists on the Net. I really like to have the coin in hand before I am parted from my cash. Can't do that with ebay, and so the concept of slabbed coins for the more expensive items is helpful, despite the problems in this area. My problem is a little different. I collect World coins to 1964. all centuries,all cultures. That's a huge field. In the environment I find myself in, I have to be an opportunist, and not particularly look for an item, just consider anything that grabs my interest. Nevertheless there are a few pricing resources on the Net, even for me, but they cannot be expected to cover everything. You need lots of experience, and a gut feeling for the price of a coin. I try to take full advantage of that experience, but being human, I occasionally fail myself to (hopefully), a lesser extent. |
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Pillar of the Community
United States
716 Posts |
I know this has been discussed on other threads, but I think one of the reasons that, at times, you can get coins fairly cheap on ebay is the quality of the pictures from some of the sellers. If the picture is blurred or too small, then you can't accurately determine a grade for the coin. I think a lot of buyers will be conservative and bid at a grade below what the actual grade might be. But when trying to determine a value/grade for a coin even quality pictures aren't the same as having the coin in hand. Bottom line is that you are always taking a chance when bidding on raw coins on ebay, so make sure the seller has a good return policy in case the coin does not turn out to be what you thought from the picture. |
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Pillar of the Community
United States
3402 Posts |
It goes back to supply and demand. I usually get good ebay purchases on common Large Cents. Half Cents generate more competition and therefore higher prices. Any varieties that are R-3 and above can generate very stiff competition. Coin shows (bourses) that I go to I can usually pay around greysheet prices, which is great if it is a good variety. I haven't been to a coin store in a long time. Their prices may be higher due to overhead. Pawn shops seem like a good idea, might try one. |
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Valued Member
United States
374 Posts |
ebay is funny I have sold lots of coins there lately. The coins I dont think will bring a good price do and vice a versa. So it works out in the long run. My pictures are good but not on the pro level. Greysheet I thought was for dealers? At shows if you buy multiple coins and haggle you could get GS prices. Key dates and semi keys will be the coins that will see the most increase over the years not common dates.Also on ebay I see alot of sellers price there coins to high and they don't sell. Most of them are the BIN listings.
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Valued Member
United States
266 Posts |
In my opinion, there is no such thing as "accurate coin pricing". Everybody out there bases their pricing on different guides, or trends, or on what they feel is going to happen, that prices are based on whatever someone will pay for a coin. I base my coin prices, and the "value" of my collection on the 2007 Red Book. I know that the Red Book has higher prices in them, but it is just a universal tool that I use. I have a couple of online dealers that I deal with, that to me have good prices for what I get from them. I also like going to the local coin store not only for coins, but for the atmosphere as well. I will go in on a Saturday and sit for a couple of hours and just talk coins, or current events, and whatever else is happening in the world. They also have a list of mine, and every so often I will go in, and walk out with something that I didn't currently have. As others have said, be careful if you use e-bay. there are some very good deals out there, and some honest sellers out there, but there are a few "bad apples" out there, that will take you for a ride, and sour your view of e-bay for anything in the future. |
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Pillar of the Community
2222 Posts |
All of the above is somewhat correct, the rest is subjective.
Grey sheet is self serving to so called Dealers, no offense meant. I've had many a Dealer try to quote me a price stating,"Grey sheet is such and such...", so what. I could care less.
I use several sources to come up with a value range. Anything more is because I want the object and am willing to pay for it.
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Bedrock of the Community
United States
20753 Posts |
Quote:
Posted Today 4 Hrs 49 Min ago
In my opinion, there is no such thing as "accurate coin pricing". Everybody out there bases their pricing on different guides, or trends, or on what they feel is going to happen, that prices are based on whatever someone will pay for a coin.
Sort of says it all. Remember there is no manufacturers list price stamped on a coin except the actual face value. AND that is what a coin, any coin, is really worth. Comically all are worth less than face value when you try to buy something. Price guides are just that, GUIDES. Many such guides attempt to standardize their prices but due to publishing times, that too is rediculous. The Red Book is an example. Latest one is the 2012 and just who do you think works at Whitman that knows the value of anything a year into the future? The people that put prices on coins may well be the same ones that give out weather forcasts 7 days ahead when they are normally wrong about what is going on now. Many people attempt to use the Grey Sheet for purchasing coins but to go the other way and try to sell a coin for anywhere near what is listed there is not to easy. I suspecst this is why so many use ebay or other auction web sites. No way on Earth would you find a coin shop, coin show or even a private dealer that would give you what a coin is SUPPOSED to be worth. Yes, it does happen but then too, the TV weather forcasters also are correct sometimes. |
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Replies: 10 / Views: 1,388 |
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Posted 07/18/2011 02:14 am
