Selling on GC 1 1

[J P M]

On 4/8/2023 at 3:00 PM, World Colonial said:

There is no reason for most collectors to get into a bidding war because most coins (the overwhelming majority) are common or when not, not that hard to buy.

I am always looking, I also set my limits on bids and offers to 33% of retail If it is a hard to find date or oddball like a DD, VAM or such I may go as high as 50 to 75 %  but it better be a good one. I see some stuff going crazy, like there are a lot of people that have no clue what they are bidding on?

[World Colonial]

On 4/8/2023 at 4:21 PM, J P M said:

I am always looking, I also set my limits on bids and offers to 33% of retail If it is a hard to find date or oddball like a DD, VAM or such I may go as high as 50 to 75 %  but it better be a good one. I see some stuff going crazy, like there are a lot of people that have no clue what they are bidding on?

These other bidders probably don't have your experience buying what you do.  I look at a lot of coins though not as many as before, but mostly to see what's available (how many or how hard to find) or aggregate data (such as PCGS Coin Facts or the TPG data), not a "deep dive" into the prices of specific coins or series.  

Since the coins I mostly buy virtually never have a recent sale in the same TPG label or comparable quality, I'm mostly guessing.  I do benchmark versus other coins I bought or other prior sales vs. other date/denominations in the same series, but even then it might not be comparable due to the time gap.

Usually, it just comes down to how much I'm willing to pay and still be comfortable with it.  

[zadok]

On 4/8/2023 at 4:21 PM, J P M said:

I am always looking, I also set my limits on bids and offers to 33% of retail If it is a hard to find date or oddball like a DD, VAM or such I may go as high as 50 to 75 %  but it better be a good one. I see some stuff going crazy, like there are a lot of people that have no clue what they are bidding on?

...im glad that works for u but if i tried that in the areas that i aggressively pursue id never be able to buy a coin, i guess it basically comes down to what areas we each collect in....

[J P M]

On 4/8/2023 at 8:59 PM, zadok said:

...im glad that works for u but if i tried that in the areas that i aggressively pursue id never be able to buy a coin, i guess it basically comes down to what areas we each collect in....

It works for me so far in the MS 65 to 66 range nickels . It is not as easy as it used to be and believe me I pass on a lot of coins for that special deal. I know there will be another coin coming along at some point. Morgan's are not in the 33% any more but I can still hit the 75 and the far fetched 50% on a good day. The high end coins are always tough zadok. I am still looking for that $1495 MS DE.   

[Henri Charriere]

On 4/8/2023 at 9:28 PM, J P M said:

The high end coins are always tough....I am still looking for that $1495 MS DE.   

Well... Gold has again surpassed $2,000/oz., by a nose.  Silver has crept past $25/oz., by a nose, too. My gut instinct, unsupported by a single historical fact, is while this may not seem to be a good time to buy, the collector has no choice but to buy because high prices tend to loosen miscellaneous stocks.  You will get what you are looking for as hopefully will I but we will have to pay through the nose 🤣 for it--should this trend continue.  Excelsior!  Ever upward.

 

[Jason Abshier]

On 4/8/2023 at 4:21 PM, J P M said:

I see some stuff going crazy, like there are a lot of people that have no clue what they are bidding on?

That’s one of the reason I stop bidding on Morgan dollars a long while back always some yuppie comes along and bids it up super high …Morgans are plentiful I can take anyone to a coin show 300 dealer’s tables there will Morgans galore on every dealer’s table no lie ! they are so common when you leave the coin show you’ll have what they call afterimages from staring at Morgans all day …. 

[zadok]

On 4/8/2023 at 9:28 PM, J P M said:

It works for me so far in the MS 65 to 66 range nickels . It is not as easy as it used to be and believe me I pass on a lot of coins for that special deal. I know there will be another coin coming along at some point. Morgan's are not in the 33% any more but I can still hit the 75 and the far fetched 50% on a good day. The high end coins are always tough zadok. I am still looking for that $1495 MS DE.   

...yep totally understand...the %s u look for were readily available pre-internet days, in some under collected areas still so...it all comes down to what one is looking for n just how bad one wants it, in certain areas n in certain grades price guides r worthless therefore %s worthless, i am routinely paying 300% of price guides for certain coins...price guides often do not address real market prices for certain coins, it only takes a hand full of collectors looking for the same coins when there r only a hand full or less of those out there to blow price guides away...in the US coins there does seem to be some parameters that the market works in cept for the ultra rarities n super grade coins but in many of the foreign areas there r no price guides u either buy it or u dont, i recently paid $2200 for a coin at auction that its last sales record was only $150 , case of pay the price or maybe never see it again...$1495 MS DE ? maybe one with a big hole in it....

[World Colonial]

On 4/8/2023 at 10:58 PM, Jason Abshier said:

Morgans are plentiful I can take anyone to a coin show 300 dealer’s tables there will Morgans galore on every dealer’s table no lie ! they are so common when you leave the coin show you’ll have what they call afterimages from staring at Morgans all day …. 

That's funny but true.

[World Colonial]

On 4/9/2023 at 8:48 AM, zadok said:

...yep totally understand...the %s u look for were readily available pre-internet days, in some under collected areas still so...it all comes down to what one is looking for n just how bad one wants it, in certain areas n in certain grades price guides r worthless therefore %s worthless, i am routinely paying 300% of price guides for certain coins...price guides often do not address real market prices for certain coins, it only takes a hand full of collectors looking for the same coins when there r only a hand full or less of those out there to blow price guides away...in the US coins there does seem to be some parameters that the market works in cept for the ultra rarities n super grade coins but in many of the foreign areas there r no price guides u either buy it or u dont, i recently paid $2200 for a coin at auction that its last sales record was only $150 , case of pay the price or maybe never see it again...$1495 MS DE ? maybe one with a big hole in it....

I'd gladly pay Krause list for my primary series, especially since my recollection is that the NGC World Price Guide is about the same or unchanged from my 1997 edition.

I'm especially looking for that 1752 Peru 4R listed at something like $1000 in XF when it's not even confirmed to exist.

Edited April 9, 2023 by World Colonial

[zadok]

On 4/9/2023 at 11:28 AM, World Colonial said:

I'd gladly pay Krause list for my primary series, especially since my recollection is that the NGC World Price Guide is about the same or unchanged from my 1997 edition.

I'm especially looking for that 1752 Peru 4R listed at something like $1000 in XF when it's not even confirmed to exist.

...id sell u one of mine, but i dont want to break up a mint roll ....

[zadok]

On 4/9/2023 at 11:28 AM, World Colonial said:

I'd gladly pay Krause list for my primary series, especially since my recollection is that the NGC World Price Guide is about the same or unchanged from my 1997 edition.

I'm especially looking for that 1752 Peru 4R listed at something like $1000 in XF when it's not even confirmed to exist.

...absolutely agree, many price lists of foreign issues r completely absent of any relationship to what actually exists in the real world...prices, mintages, actual existence or references to any recent transactions....

[Hoghead515]

I havent sent them no where yet. Im being patient about it for now. When I do ill probably just set the bid at zero and see what happens. The ones I have arent very valuable anyways. Im even talking to a feller about doing some trading if he wants any of the ones I have. Lifes been very hectic here lately and havent had much chance to go through them. Its starting to slow down a bit now where I can take a breath and get back into it again. I started this thread to explore some options. Ill probably send the ones in I dont trade here before to long. Im not in a real big hurry. I figured id go with GC and start the bidding at zero and be happy with whatever I get. Then use the money to buy the ones I need for my set of silver Washington quarters. Id really love to finish that set by the end of this year if Im able. Im getting into those harder dates now. Thank you everyone for all the replies. Its really helped me alot.

[Jason Abshier]

On 4/9/2023 at 12:11 PM, zadok said:

...absolutely agree, many price lists of foreign issues r completely absent of any relationship to what actually exists in the real world...prices, mintages, actual existence or references to any recent transactions....

Very true , a lot of world coin prices and information is out of date hard to keep up with …. I have old old John S. Davenport catalog printed 1949 on German Talers (thalers) as some spell it in English but in Germany it’s “Talers” they have price list from 1959 in back of my catalog they were getting a lot Talers back then for $2 a pop ! Some of them I can’t find on market anymore today … I also have German Krause catalog devoted entirely for German coins only from 1600-present all prices in there are very old as well but good reference … these days I guess I may have over paid for certain coins in my collection simply because I could not go by old catalog pricing nor could I go by NGC prices either … where these wacky prices come from ? I have no idea the collectors market is not that huge in world coins although gradually growing these days compared to 30-40 years ago or even 20-10 years ago I rely on vast of prices on MA-shop and current bidding prices from auctions to determine “ball park” on current prices for a particular coin I want for my collection … It’s really frustrating some days trying to determine pricing on certain world coins when there is no information really available! 

Edited April 10, 2023 by Jason Abshier

[zadok]

On 4/10/2023 at 9:22 AM, Jason Abshier said:

Very true , a lot of world coin prices and information is out of date hard to keep up with …. I have old old Davenport catalog printed 1949 on German Talers (thalers) as some spell it in English but in Germany it’s “Talers” they have price list from 1959 in my catalog they were getting a lot Talers back then for $2 a pop ! Some of them I can’t find on market anymore … I also have German Krause catalog devoted entirely for German coins only from 1600-present all prices in there are very old as well but good reference … these days I guess I may have over paid for certain coins in my collection simply because I could not go by old catalog pricing nor could I go by NGC prices either … where these wacky prices come from ? I have no idea the collectors market is not that huge in world coins although gradually growing these days compared to 30-40 years ago or even 20-10 years ago I rely on vast of prices on MA-shop and current bidding prices from auctions to determine “ball park” on current prices for a particular coin I want for my collection 

...absolutely agree, n thats one of the positive reasons that transitioning into some foreign coins for a portion of ones collecting can reap benefits...economically n collecting satisfaction...true u mite overpay in some instances if there r no current references, but u most likely will have the benefit of actual market availability n recent auction results if u do ur research, thereby buying coins at good prices when others r relying on outdated references...u notice i said "some" foreign coins, not all r really worth the effort n expenses, so do ur due diligence before diving n...the taler market is quite competitive n there r aggressive auction results in certain areas...good luck....

[Jason Abshier]

Here’s an example how a novice could of “overpaid” on a coin MS 65 at $450??? I don’t think so !!! Heck MS67 was auctioned off at $288 and $360 respectively (however NGC price guide shows MS63 at $450) anyone could of easily overpaid on this if they did not do their homework and look up what auction prices were going for …. I blocked out eBay seller’s name for privacy purposes but they are reputable dealer I’ll have to send them an email let them know they have that coin priced way way too high where they got price tag value at ? I have no idea it’s not a “rare coin” in fact quiet easy to find , it’s a commemorative 3 mark from the weimar republic years in Germany 

Edited April 10, 2023 by Jason Abshier

[zadok]

On 4/10/2023 at 10:23 AM, Jason Abshier said:

Here’s an example how a novice could of “overpaid” on a coin MS 65 at $450??? I don’t think so !!! Heck MS67 was auctioned off at $288 and $360 respectively (however NGC price guide shows MS63 at $450) anyone could of easily overpaid on this if they did not do their homework and look up what auction prices were going for …. I blocked out eBay seller’s name for privacy purposes but they are reputable dealer I’ll have to send them an email let them know they have that coin priced way way too high where they got price tag value at ? I have no idea it’s not a “rare coin” in fact quiet easy to find , it’s a commemorative 3 mark from the weimar republic years in Germany 

...i suspect the seller knows its too high....

[Jason Abshier]

On 4/10/2023 at 12:19 PM, zadok said:

...i suspect the seller knows its too high....

I’m curious where NGC got their newer price in MS63 at $450 ? Recent auction prices doesn’t even come close to that ! I believe seller is going by NGC price guide … is there a demand for this type of coin ? From time to time there is but I don’t see how price could of spiked up that high … I sure wouldn’t pay that price for MS65 when I can get one bidding even in higher grade MS66 or MS67 …But I would rather own a rarer proof grade of this particular coin which I see very few of up for auction from time to time 

[Henri Charriere]

On 4/9/2023 at 8:48 AM, zadok said:

....i am routinely paying 300% of price guides for certain coins...price guides often do not address real market prices for certain coins, it only takes a hand full of collectors looking for the same coins when there r only a hand full or less of those out there to blow price guides away...in the US coins there .

Troo dat!  

[World Colonial]

On 4/10/2023 at 12:49 PM, Jason Abshier said:

I’m curious where NGC got their newer price in MS63 at $450 ? 

If it isn't from actual transactions, the prices are just made up.  Sometimes the prices might be (ballpark) accurate by pure coincidence but hardly ever.

That's true of Krause and any successor, as no one can possibly keep it up to date, several hundred thousand coins at multiple price points (grade intervals).  That's several million, changing regularly.

Regularly updated price guides for frequently traded coins are somewhat different, though the value is often coin specific.  Also different for (quasi) bullion.  For everything else, price guides are a relic from a time when communication limitations limited market transparency.  

Price guides are mostly obsolete.