Would you pay a premium price for a premium coin?

[EZ_E]

Pretty much the only way to get a premium coin with great eye-appeal (or early US coins with decent eye-appeal), one must pay a premium. There are exceptions, of course, but this sums up my experience pretty well.

[TomB]

I attempt to pay what a coin is worth, which therefore means I pay no premium at all relative to its value.

[mommam17]

Yes, of course, I would pay a premium price for a premium coin. CAC will help me find those premium coins since most of the time I`m looking at a picture of a coin and not the coin itself. I am very happy about this!

[bsshog40]

If it was a coin that I wanted bad enough and was unable to find one that I wanted for my collection, yes, I would pay a premium if I ran acroos that special one.

[WinstonWare]

I prefer unmessed with looking coins. So yes, I frequently pay more for them than I would for other coins of the same grade. But what are you gonna do? You have to buy the coins you adore.

[MarkFeld]

I would and I do. If I were unwilling to do so, I would end up with primarily mediocre (or worse) coins.

[MikeInFL]

I attempt to pay what a coin is worth, which therefore means I pay no premium at all relative to its value.

 

Tom,

 

I agree 100% with what you're saying.

 

At least for the purposes of this poll, assume the "price" is the average sales price for a coin, or even CDN "bid" or "ask" prices.

 

Thanks...Mike

[bsshog40]

May I ask, what does "CDN" stand for?

[MarkFeld]

May I ask, what does "CDN" stand for?

Coin Dealer Newsletter - it is also referred to as "The Graysheet".

[IGWT]

May I ask, what does "CDN" stand for?

The Coin Dealer Newsletter (Graysheet). I don't mind paying a price that's commensurate with the quality of a coin. Edited to add: I guess Coinguy's 10:03 pm arrived before mine. And while I'm at it, I'll add that I dislike paying a premium on top of the price that a quality coin would trade for if raw.

[bsshog40]

Thanks mark and IGWT.

[MarkFeld]

[Edited to add: I guess Coinguy's 10:03 pm arrived before mine.

You can guess. I'm sure if it.

 

[DirtyGoldMan]

I would and I do. If I were unwilling to do so, I would end up with primarily mediocre (or worse) coins.

 

Same here!

[michael]

I attempt to pay what a coin is worth, which therefore means I pay no premium at all relative to its value.

 

[michael]

well yes in relation to what the grey sheet says and the holder on the coin says

 

i assume you meant that would i pay 2x 5x 10x sheet for coins based on the holdered grade and corresponing sheet price? YES

[Revenant]

Yes, of course, I would pay a premium price for a premium coin. CAC will help me find those premium coins since most of the time I`m looking at a picture of a coin and not the coin itself. I am very happy about this!

 

Interesting that you're the only one that felt the need to explicitly bring CAC into this.

[James_OldeTowne]

Definitely. For that matter, anymore it seems like you have to pay a premium for NON-premium coins.

[leeg]

I voted yes. But generally I'm a cheap *ss and hate to pay extra for a coin. I'll ask a dealer, or fellow collector, for their best price and accept or reject the offer. I've even been ignored when I ask for a best price?

[BillJones]

Yes, I've paid premiums over the normal prices for "PQ" all the time, and have bought and sold such coins at preimum prices in my business. BTW I've paid premium prices and sold such coins to other dealers at a further mark-up. I've done it many times.

 

As the for CDN prices, you have pay more than those prices prices for "normal" coins that are graded properly for most anything minted in the 18th and early 19th centuries. The supply of these coins that is now on the market is so low that the few properly graded pieces are quick sellers.

[cpm9ball]

I've been struggling to find the appropriate words that define my feelings about this, and I was hoping that reading the other responses would provide some insight to enable me to put those feelings into words.

 

I guess Tom's comment about paying what a coin is worth comes the closest, but that "worth" is still relative and subjective to each collector's buying habits. You can refer to all of the price guides that you want, but they are, after all, only guides. The final determination for what I am willing to pay is based on the emotion that is aroused within me when I view a particular coin.

 

Would I be willing to pay a premium because every dealer who has viewed a particular coin says that it is PQ? No, not necessarily! Would I be willing to pay a premium because a TPGS has given it a "star" rating? No, not necessarily! Would I be willing to pay a premium because some company has given it's seal of approval? Again, no, not necessarily! Would I be willing to pay a premium if, when I viewed the coin, it made my heart skip a beat? Definitely, if I could afford it.

 

For example, one of the Morgans I purchased at a local coin show is in a 63 holder. The obverse is ho-hum, blast white, but when I turned it over, I felt a rush come over me because the rainbow covers almost the entire reverse. I just had to have it, and the dealer and I finally agreed on a price that was substantially above what I would ordinarily pay for a 63 coin.

 

So, I have to agree with Tom. I don't ever feel that I am paying a premium because that is what the coin is worth to me.

 

Chris

[MikeKing]

I attempt to pay what a coin is worth, which therefore means I pay no premium at all relative to its value.

 

double talk.

tell me how it really is...

[MikeKing]

I have to add

Coins generally go for more and sometimes much much more based on their eye appeal.

The stamp world is even more vehement about this, probably because they haven't YET been totally choked out of individuality and collector superiority, as has the coin world.

as an example, a stamp I was interested in would have recieved a bid, from me, for $7,000.00. There was a likelihood it could go for $10,000.00, which I considered a bit high. The stamp went for $21,000.00.

 

Why? It was a premium quality stamp for the grade.

 

 

[cpm9ball]

I have to add

Coins generally go for more and sometimes much much more based on their eye appeal.

The stamp world is even more vehement about this, probably because they haven't YET been totally choked out of individuality and collector superiority, as has the coin world.

as an example, a stamp I was interested in would have recieved a bid, from me, for $7,000.00. There was a likelihood it could go for $10,000.00, which I considered a bit high. The stamp went for $21,000.00.

 

Why? It was a premium quality stamp for the grade.

 

 

Mike, I guess you could say it is fortunate that stamps don't tone in a wild array of colors or acquire a "skin" with age. If they did, wouldn't they lose value? While you can't actually compare stamps to coins, I'm sure that you can compare the people who collect them. Tell me, aren't there rabid, wild dogs who collect stamps, too? Aren't there those individuals who just have to "one-up" everybody else? And, aren't there those collectors who are just trying to keep up with the Joneses? I don't think it matters what you collect. You will always have the extremes at both ends, the middle-of-the-road and the wannabes.

 

Chris

[World Colonial]

Yes, but not some of the premiums that I have seen that I consider ridiculous.

[MikeKing]

I have to add

Coins generally go for more and sometimes much much more based on their eye appeal.

The stamp world is even more vehement about this, probably because they haven't YET been totally choked out of individuality and collector superiority, as has the coin world.

as an example, a stamp I was interested in would have recieved a bid, from me, for $7,000.00. There was a likelihood it could go for $10,000.00, which I considered a bit high. The stamp went for $21,000.00.

 

Why? It was a premium quality stamp for the grade.

 

 

Mike, I guess you could say it is fortunate that stamps don't tone in a wild array of colors or acquire a "skin" with age. If they did, wouldn't they lose value? While you can't actually compare stamps to coins, I'm sure that you can compare the people who collect them. Tell me, aren't there rabid, wild dogs who collect stamps, too? Aren't there those individuals who just have to "one-up" everybody else? And, aren't there those collectors who are just trying to keep up with the Joneses? I don't think it matters what you collect. You will always have the extremes at both ends, the middle-of-the-road and the wannabes.

 

Chris

 

totally true.

I like that ... rabid, wild dogs....

perfect!

 

edited to add: yes, if a stamp tones in any way, it loses value. the closer to the original 'freshness' the more people are willing to pay. faking this is more detectable and exceedingly difficult if possible at all.

[EZ_E]

 

As the for CDN prices, you have pay more than those prices prices for "normal" coins that are graded properly for most anything minted in the 18th and early 19th centuries. The supply of these coins that is now on the market is so low that the few properly graded pieces are quick sellers.

 

The July 2007 Numismatic News Values guide lists the 1793 Wreath cent at $2500 in VG8. Yet, I just paid $3500 for this coin. It would have been $4500 if not for the obverse scratches at 5:00. It is PCGS VG8.