Can ebay be used as a bench mark for price guide values?

[grade it-migration]

 

Here is a sale of a coin I bought last month on eBay and returned it because it had a huge cut on the reverse on the torch. The cut is described in this present listing where it sold. The seller was an excellent person and he refunded my payment no problems. Below is the close up of the coin in question. I took this photo while I had possession of the coin.

 

 

 

 

Today the price guide value is $140.. This coin is dropping in value like a rock.

Because of this coin sale history?

 

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rt=nc&nma=true&item=300510811597&si=qH4Q2yNlouVJnQvPOQom5IWB9D4%253D&viewitem=&sspagename=ADME%3AB%3AEF%3AUS%3A1123

[physics-fan3.14]

As far as I know, most price guides don't heavily rely on Ebay for their pricing trends. It is a valuable tool for collectors to use to gauge the current market, however. Ebay must be used in conjunction with other sources - I personally make strong use of Teletrade, Heritage, Numismedia, and to a lesser extent, Ebay, PCGS, Trends, and other sources. The collector must be able to synthesize all this information and arrive at a value which seems right to them - no single price guide is ever 100% correct.

 

PCGS FB, like their FBL, is essentially worthless to me anyways. I only rely on NGC's strike designations, especially when purchasing over the interwebs.

[James_OldeTowne]

From my days on eBay, I came to the conclusion that there are too many shills, bogus auctions, manipulated bids and unknown factors to be able to put any stock into coin valuation, whatsoever. Have things changed today? I seriously doubt it. If anything, I'd imagine that from the standpoint of straightforward bidding, trends could be even more corrupt than in the past. The insanely high fee structure of eBay + PayPal skews results too much to allow them to be reliable.

 

In short, I'd guess eBay has no discernible impact on coin price guides.

[Dcoin]

I look at the Buy it Now results. I think they can be less misleading then straight auctions.

[TooSnappy]

I look at the Buy it Now results. I think they can be less misleading then straight auctions.

 

thats what I was just thinking reading through this thread. I figured BIN's wouldnt have the shills and whatnot to mess with the prices, so would be a bit more reliable prices.

 

it's actually what I've been using in the short time I've been checking out silver and seems to be pretty acurate. though I have only been checking out recent stuff that has tons of sellers for, not sure if it would work well on rarer/older coins that didnt have a large number of sellers/BIN's

[kryptonitecomics]

As far as I know, most price guides don't heavily rely on Ebay for their pricing trends. It is a valuable tool for collectors to use to gauge the current market, however. Ebay must be used in conjunction with other sources - I personally make strong use of Teletrade, Heritage, Numismedia, and to a lesser extent, Ebay, PCGS, Trends, and other sources. The collector must be able to synthesize all this information and arrive at a value which seems right to them - no single price guide is ever 100% correct.

 

PCGS FB, like their FBL, is essentially worthless to me anyways. I only rely on NGC's strike designations, especially when purchasing over the interwebs.

 

+1

[grade it-migration]

copyed and pasted from PCGS email

 

Nearly 2 Million Coin Prices Realized

By Jaime Hernandez

 

It's a new year and we hope all of you had a great 2010. It's now 2011 and the coin market continues to be very exciting. One of the tools I really enjoy using is the Auction Prices Realized from all the different auction companies listed in one place, now including eBay Completed Listings for PCGS and NGC coins.

 

At PCGS, we now have coin prices realized from all major auction companies in one place, including over 30,000 eBay Completed Sales from 2010 and going forward. This is just one of several new features that we have implemented on PCGSCoinFacts.com.

 

We now have over 1.8 million Coin Prices Realized from more than 35 different auction companies. To see the list of companies we currently track sales for, go to our featured article titled "1.8 Million Coin Prices Realized - From 35 Auction Companies." What are you waiting for? Give PCGS CoinFacts a try and let us know what you think of this feature.

 

As always, please let us know how you are enjoying the PCGS eCollector.

[physics-fan3.14]

Well, absolutely no one I have ever talked to places much weight at all on the PCGS price guide. I know you are on a vendetta against them, but their price guide is widely regarded as.... inaccurate.

[Razor2k]

Well, absolutely no one I have ever talked to places much weight at all on the PCGS price guide. I know you are on a vendetta against them, but their price guide is widely regarded as.... inaccurate.

 

[grade it-migration]

Well, absolutely no one I have ever talked to places much weight at all on the PCGS price guide. I know you are on a vendetta against them, but their price guide is widely regarded as.... inaccurate.

 

A vendetta or education???

 

How would you say there market grading is compared to there price guide?

 

I believe 75% of those who buy on eBay or online use the free PCGS price guide as their Bible.

I believe that all I post I document. The Kool Aid crowd will be always present but they are called out by those who want to be educated with facts not napalms of negativity.

 

I think you are missing the post an obvious over-graded coin is sold on eBay for $27 with PCGS price guide that just fell from $150 to $140 in the last week. Where PCGS price guide prices are being lowered from a realized auction.

 

Holders of this coin in the correct grade are being penalized because this coin should not be in a 66fb holder and price it sold for is meaningless...A knife like cut deep almost across the torch constitutes more than minor contact mark.

 

MS-66 - Must have above average quality of strike and full original mint luster, with no more than two or three minor but noticeable contact marks. A few very light hairlines may show under magnification, or there may be one or two light scuff marks showing on frosted surfaces or in the field. The eye appeal must be above average and very pleasing for the date and mint. Copper coins display full original or lightly toned color as appropriate.

 

[Schatzy]

I use the PCGS price guide but I only bid at 40% of the PCGS price.

 

 

[Mark T]

No serious collector pays attention to the PCGS price guide as a price reference when purchasing a coin.. A 1954 MS 66 FB sold for $70 last May 2010. To the best of my knowledge PCGS does not update their price guide to reflect EBAy sales. PCGS will look at major Auction price trends. This coin sold for $27 4 days ago and you think PCGS would update their price guide based on that sale ?? Reality check – there is no way that would happen.

It is obvious from your posts that you may have a vendetta against PCGS – you can call it an education however most of us here are smart enough to make our own conclusions on the consistency of PCGS. In another thread someone made note that you may be affiliated with a new service called Second Party Grading . I always appreciate an “expert” opinion on my coins, however my money is on CAC.

 

[FILTHYHOARD]

I use the prices realized from Heritage as a guide

[JStull]

My sources for prices on coins are numismedia, eBay completed BINs, Teletrade, Heritage, and local dealers.

 

I agree with the consensus that the PCGS price guide is completely out of whack on true value and pricing of coinage, as is Yeoman's Red Book(about 20% over the actual prices).

 

Atleast the other sources I mentioned are using prices that coins have sold for in auctions or direct buys.

 

Whitman's price guide is failry accurate, and the new one that has the pop reports for certifieds and what they have sold for is one I'll be picking up.

[Mark T]

I use the prices realized from Heritage as a guide

 

Don as already you know that is my main source as well.

[FILTHYHOARD]

I use the prices realized from Heritage as a guide

 

Don as already you know that is my main source as well.

 

I try to use all the resources that I can. I wish there was one single answer or way to determine what a coin is worth, but then again, a coin is worth what someone is willing to pay for it on any given day.

I like using Heritage , but it is only that, "a guide" , but still, I feel it is a fairly good barometer and a decent place to start. A coin's technical grade is basically what determines the dollar value as far as price guides are concerned, but the luster, strike and overall eye appeal will all play major factors in the coins value. We've all seen lesser grades sell for more than technically superior coins.

[grade it-migration]

thanks for all your posts on the price guide.

 

This forum is used by many new collectors who do not post..

 

"I agree with the consensus that the PCGS price guide is completely out of whack on true value and pricing of coinage"

 

That was the consensus that is important on this post. thanks JStull

 

Using eBay completed sales in a computerized world can be used quickly. As updates are done on a daily basis on the PCGS price guide..

 

PCGS states that eBay is one source for its price guide.

 

Other sources for value of coins where brought out this is a good thing

 

I hope all, without the Kool Aid agenda, see this as an educational post.

 

 

[TooSnappy]

I'm new here so not real knowledgable with the coins yet. but I know comics and we have the overstreet price guide, seems very similar to the coin guide everyone in here is refering to. cant go by the thing at all for acurate pricing, but there is GPA, a website that tracks sales from most major auction venues all in one place. is there a website avaliable like that for coins as well? if not there should be