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I don't understand these guides

Started by dougstevens-migration,

6 posts in this topic

dougstevens-migration

dougstevens-migration

Posted
Posted

I am a very small time hobbyist coin collector. I have an 1889 Morgan dollar NGC certificed MS-65 that I think I received as a gift a while back. I don't collect Morgans and was thinking of selling it. However when I look up the price in different guides the price is all over the place.

 

Red Book: $125

Coin Values: $375

Grey Sheet: $275-$300

Coin Age: $225

 

How can I find out what this coin is really worth without sticking it on EBay and taking my chances?

 

Thanks.

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Mozin

Mozin

Posted
Posted

I would trust the greysheet. Dealers may want to buy at about 15% below bid so they can sell to another dealer for bid. If your coin is above average for the grade you might expect a little more. I do not collect Morgans so if there is anything special going on with you CC date I would not know.

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supertooth

supertooth

Posted
Posted

Well---- Most dealers will not offer much above about half of what it is worth---depending on what the coin looks like. The best way to find out is to really put it on Ebay----with good pictures. If you really want to sell it, you can either put a "reserve" on it or you can start it out with a "fair" starting price. Or, if you really do not want to sell, you can put the reserve price way up high and then just see what the top bid ends up being. Granted---this will cost you Ebay fees. But it is the "best way" to get a fair market price for that coin this week [right now]. You could ask around, of course, and take the mean of all the various answers that you might get. Grey Sheet Bid price or lower is probably about right depending on the quality of the coin in the slab. Remember that the 1889 is a "very" common date and will not command a premium price---unless the coin is outstanding. Bob [supertooth]

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spy88

spy88

Posted
Posted

Doing some research for this coin selling in Heritage auctions, prices range from a low of $161 to a high of $299 (past 6 months for 16 coins) averaging $225. Teletrade has auctioned quite a few with hammers of a low of $150 to a high of $280 (past three months for 12 coins) averaging $255.

 

All 28 coins were a mix of PCGS/NGC slabs.

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DaveG

DaveG

Posted
Posted

One reason for your confusion is an "apples and oranges" problem.

 

The Grey Sheet is a "wholesale" guide; that is, it tells you what a coin should go for in a transaction between dealers. In general usage, a dealer will buy a reasonably "common" coin from a collector at about 90% of the Grey Sheet price. Grey Sheet prices can also be a bit out of date, as many coins are priced in the quarterly or monthly Sheet instead of the weekly Sheet.

 

The Red Book, Coin Values and CoinAge are all "retail" price guides; that is, they tell you about what a collector should pay a dealer for a coin. In addition, the Red Book's prices are old - the 2005 edition, for example, came out in the summer of 2004, while Coin Values and CoinAge are much more current.

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