What to pay for coins?

[dan3e]

Hello,

I would like to hear from other colleCtors how they determine how much to pay for a coin. There is the grey sheet ask price, the N.G.C./ P.C.G.S. Valued price and there is the Red Book price. I find that local coin dealers try to get Redbook or higher prices and on Ebay sellers/ dealers try to get P.C.G.S. Valued prices or in between the grey sheet price. What is the best way to determine what to pay for a coin? I look forward to hear other collectors input. Thanks, Dan

 

 

 

[123cents]

There are grey sheets, price guides, and auction results to use as a guide but it really comes down to how much you are willing to pay for a coin.

[Conder101]

Well I know roughly what kind of prices I have seen similar coins selling for and I know how likely/unlikely I am to find another one. After that it comes down to do I need it? Can I afford what he is asking? How likely am I to find another one or a better deal? So usually if I need it and like it and can afford it, I buy it.

[James_OldeTowne]

Start with greysheet, or really just about any reasonable price guide will do (hint: avoid the PCGS price guide). Then adjust according to some scale that you can stomach, for example:

 

-25% = I can wait to find a cheaper one

+0% = average

+25% = I really want one

+100% = I've been waiting ten years to find just the right one, and here it is!

 

Etc.!

 

 

[Barndog]

I specialize in capped bust half dimes. I use tons of sources for pricing information, but the best one is knowledge of private transactions and private "comments" amongst specialists.

[NTNtrivia]

I use the greysheet Bid and Coin Values.

I don't expect to be able to buy at Bid but I also don't expect to pay full Coin Values.

I look for the midpoint.

If the greysheet doesn't list a particular variety I either discount Coin Values or search auction results.

If a slabbed coin has a CAC label or a "+" or "*" then I will consider a full Coin Values price.

[World Colonial]

Where it applies, actual auction prices.

[michael]

first welcome to the boards

 

for coins i have been looking at for many decades

 

i first determine where is ranks in my own condition census in other words how many like this coin i am looking at are better and how easy is it to find such a coin and does it have any extraspecial or extraordinary qualities that others dont in other words where it ranks on my condition cenusu for grqade strike overall eye appeal etc. is it a top condition census coin, condition middle census etc?? and so on

 

second i look at the grade

 

third is the coin underpriced overpriced?? etc. for what it is based my my years of experience and also prices realized for similar coins at auction the last few years and how many i have seen for sale on dealers sites the bourse etc.

 

 

fourth i then think to myself do i want to own this coin? and is it a value opportunity coin for what it is?? is it unusually in any ways above average?? etc.

 

fifth ----- after all that am i even in the mood for buying and/or do i got the money??

 

sixth--- i make my decision

 

 

good luck and welcome to the boards

 

 

[BillJones]

I use the Gray Sheet and Coin Values magazine. I temper these price estimates with my experience, my fundamental desire to own an example of the coin in question and my perceptions of what’s hot and what’s not in the market. I can be very much of a contrary buyer. If I want it for my collection, a slow market can be a great advantage. Of late I’ve been working on a set of the old gold commemorative coins. The market for the “old” (1892 – 1954) commemorative coins has been pretty quiet for a while, and I’ve been able to buy some nice, properly graded coins for Gray Sheet “bid” and sometimes less. Of course I’ve also paid more than bid for coins that were exceptional for the grade.

 

Auction results are okay, but you need to figure in a couple of factors. On the low side, coins that fall short of the grade stated might sell for lower than expected prices. Conversely coins that were really high end (including possible “crack out” and re-grade candidates) can sell for strong money. Finally there is the “two (or more) fools got carried away factor.” All it takes at an auction is two guys who decide they MUST have something, or two guys who don’t know what they are doing to result in an unusually high price.

 

Auction results are useful, but you really need to have seen the coins in question to say that they are “definitive.”

 

[dan3e]

Great advice! Thank you so much1 hope you have a Great weekend! sincerely, Dan

[dan3e]

really good advice, thank you very much! sincerely, Dan

[dan3e]

really good advice, Thank you very much, Sincerely, Dan

[James_OldeTowne]

I use the greysheet Bid and Coin Values.

I don't expect to be able to buy at Bid but I also don't expect to pay full Coin Values.

I look for the midpoint.

If the greysheet doesn't list a particular variety I either discount Coin Values or search auction results.

If a slabbed coin has a CAC label or a "+" or "*" then I will consider a full Coin Values price.

Be aware that even "Coin Values" can be horribly low for certain esoteric issues. I've paid at least three-times CV prices for some coins in the past.

 

Of course, I've also gotten many for one-third CV.