fair market value(FMV)

[jayman1970]

I have seen coins listed and a price stated as being FMV.I would like to know where these prices come from.Is there one source people use or many different ones when determining FMV?

[RWB]

It's an estimate of the "fair market value" of the coin. The presumption is that a willing buyer and a willing seller will agree on a FMV of a specific coin. Rarely works that way.

 

Marketing slime use it to mean the maximum they hope to rip out of a buyer's wallet without actually stealing the person's money. When in a coin ad it is what the seller wants, not what the coin is really worth by any objective analysis. Also commonly referred to as “catalog value" or "retail," etc.

 

[MarkFeld]

Unfortunately, FMV is an imprecise term.

 

For the vast majority of coins, if you ask more than one person what FMV is, you are likely to get different answers. Generally speaking, however, the more frequently the coin is traded, the more likely you are to get a narrower range in the estimates of FMV.

 

As an example, if you were to ask the FMV of a typical NGC MS63 common date Morgan Dollar, opinions should only vary by a maximum of a few dollars. On the other hand, if you were to ask the FMV of an NGC MS68 High Relief, the opinions could vary by many thousands of dollars.

[Mr.Mcknowitall]

In other words, it is normally fair to the person that described the coin as FMV.

 

Respectfully,

John Curlis

[rons]

Bingo!!! John well done You have summed it up in a nutshell perfectly

[Mokiechan]

Using NGC's published FMV and typical Ebay sales, I have found that the majority of coins sell below FMV so that leads me to believe:

 

A. Bidders are aware of FMVs and do not want to reach them (otherwise they could just get their coins from a Coins Magazine ad)

 

B. FMV is set a little higher than the general market in order to assist the Coin Retailer.

 

C. FMV is best used as a way to compare the relative value (popularity, rarity, etc.) of a given coin when compared to other coins within a set or across the spectrum.

 

IMHO.

 

Malcolm

 

 

[Houston Investor]

While the pricing of coins is subjective, FMV is something I associate with Market Retail or what I call Market like CW Values, Krause CV, Coins Magazine, Red Book, and pricelists put out by L&C Coins (many dealers I know use this as a guide in pricing their material).

 

Even in studying this pricing material, values can vary and its an individual choice as to source they consider has the most credibility. For big ticket material, auction results will have a big influence.

 

When I shop on the bourse I not only have a binder with the CDN and Greensheet, but a copy of Coins Magazine (and their price guide), L&C Coins pricelist, and BankNote Reporter (has price guide) included. At my table available for customers is 100 watt lighting, numerous magnifiers, and a copy of Coin World Values for any price research.

 

However, pricing can vary as to PQ vs solid quality vs average quality or a tackon to be applied for CAC, plus, pedigree (OBH or Binion), or first strike coins.

[Oldtrader3]

I use the Grey Sheet and Heritage Auction Archives as a baseline for FMV. I also use some auction prices from sites which I have dealt with and have some idea of where they fall in the FMV price spectrum.

[JStull]

I wish the old days of buying/selling/trading coins were still here.

 

It was soooooooooo much easier and simpler then.

[Houston Investor]

I wish the old days of buying/selling/trading coins were still here.

 

It was soooooooooo much easier and simpler then.

 

Me too - I found Red Book and Blue Book just fine.

[World Colonial]

For most of the coins I buy, there is no real FMV. Many coins have no prior sales that I can find, some at all much less in a specific grade. Others have them but frequently nothing recent.

[RWB]

FMV = What you think you'll get until you ask.

 

Real Market Value = the 10x face you're offered for your #1 Top Pop register set of modern coins.

[JStull]

I wish the old days of buying/selling/trading coins were still here.

 

It was soooooooooo much easier and simpler then.

 

Me too - I found Red Book and Blue Book just fine.

 

Good on information, lousy on price guide.