The vagaries of Fair Market Value (FMV) 1 1

[Halbrook Family]

On 12/21/2023 at 7:40 AM, Henri Charriere said:

Why don't we start at the beginning.

What's a basic membership cost at NGC?

What's a basic membership cost at PCGS?

ANY REASON WHY ONE SHOULD COST NEARLY 3X MORE THAN THE OTHER?  (Now bear in mind, grading credits are not awarded in the lowest tiers of membership.)

Fact:  Regardless number of certifications performed or years in service, one is clearly convinced it enjoys a higher profile than the other but those suggesting it is tarred and feathered for "bashing" and run out of town on a rail.  The gentleman referred to as "the Market (first name Fair) can bear witness to this as he has Final Say. 😉 

I'm just a beginner but I don't believe it should cost more then $20 to grade any coin. There is so many $2 coins out there graded that they are trying to charge $25 for it. I don't have a single graded coin in my collection though. Or maybe only grade coins worth over a certain amount. But fair market value has always been whatever you can sell it for. If you do not like the fair market value you do not buy it. If the hobby dies out fair market value will sure go down now won't it? I rarely see a kid in the coin shop I go to.   Kid = anyone under 35. 

 I do have a question. They have a registry here. Can only coins graded by them be in the registry? No pcgs coins allowed? I have only looked a little at them. 

[VKurtB]

On 12/23/2023 at 6:31 PM, edhalbrook said:

I'm just a beginner but I don't believe it should cost more then $20 to grade any coin. There is so many $2 coins out there graded that they are trying to charge $25 for it. I don't have a single graded coin in my collection though. Or maybe only grade coins worth over a certain amount. But fair market value has always been whatever you can sell it for. If you do not like the fair market value you do not buy it. If the hobby dies out fair market value will sure go down now won't it? I rarely see a kid in the coin shop I go to.   Kid = anyone under 35. 

 I do have a question. They have a registry here. Can only coins graded by them be in the registry? No pcgs coins allowed? I have only looked a little at them. 

For U.S. coins, both PCGS and NGC coins are allowed in an NGC registry, but not vice versa. But for foreign coins, all coins must be in the holders of the company whose registry it is. 

[Henri Charriere]

On 12/16/2023 at 1:06 PM, zadok said:

...futile discussion...every coin has its own FMV...no necessity for like coins to have the same FMV....

Fundamentally flawed.

[Henri Charriere]

On 12/23/2023 at 1:25 PM, VKurtB said:

But EVERY participant in any market has the personal option to play the game or refuse to play the game. As it pertains to any supposed “superiority” in the market of PCGS coins, I have lonnnng refused to play along, and have decided to ignore such nonsense. 

[To Moderation: where exactly should I look to find my previous content that "has been cleared by the Editor, and restored."]

[Henri Charriere]

On 12/23/2023 at 7:31 PM, edhalbrook said:

I'm just a beginner but I don't believe it should cost more then $20 to grade any coin. There is so many $2 coins out there graded that they are trying to charge $25 for it....

As one rather vocal seasoned veteran, expressing his own opinion, put it, in substance... the vast majority of coins neither require nor belong in sarcophagi.

I will attempt to answer your opinion with an anecdote.  The amount of time spent authenticating and grading and encapsulating a coin takes about as much time as a powerhouse Washington, D.C. attorney spent deliberating a problem put before him years ago.  His reply was, "No."  His fee for a few minutes work? $10,000. Why? Because he saved his client a million dollars he would have squandered had he gone thru with a business deal.  Although many hobbyists will deny it is a factor in FMV, I not only believe it is but would go so far as stating coins certified by the top grading concerns will command a measurably higher price than one put out by a marginal, lesser-known company without a proven track record of reliability.

 

[Henri Charriere]

On 12/23/2023 at 1:25 PM, VKurtB said:

But EVERY participant in any market has the personal option to play the game or refuse to play the game. As it pertains to any supposed “superiority” in the market of PCGS coins, I have lonnnng refused to play along, and have decided to ignore such nonsense. 

 

[Henri Charriere]

On 12/23/2023 at 10:08 PM, Henri Charriere said:

 

FWIW:  Oklahoma and Missouri have both filed bills for the 2024 legislative session that would eliminate state sales tax gains on the sale of gold and silver. Both are already among the 42 that do not levy sales taxes on gold and silver bullion.

[zadok]

On 12/23/2023 at 9:18 PM, Henri Charriere said:

Fundamentally flawed.

...ur alliteration adequate but ineffectually indeterminately indubitably inexorably incorrect again....

[Henri Charriere]

On 12/25/2023 at 12:08 PM, zadok said:

...ur alliteration adequate but ineffectually indeterminately indubitably inexorably incorrect again....

Merry Christmas, my friend!

[GoldFinger1969]

On 12/24/2023 at 9:25 PM, Henri Charriere said:

FWIW:  Oklahoma and Missouri have both filed bills for the 2024 legislative session that would eliminate state sales tax gains on the sale of gold and silver. Both are already among the 42 that do not levy sales taxes on gold and silver bullion.

Not sure what is being changed....they don't levy sales taxes now on gold/silver but this new bill would eliminate SALES tax or CAPITAL GAINS tax on the SALE of gold/silver ? 

[Henri Charriere]

On 12/25/2023 at 10:17 PM, GoldFinger1969 said:

Not sure what is being changed....they don't levy sales taxes now on gold/silver but this new bill would eliminate SALES tax or CAPITAL GAINS tax on the SALE of gold/silver ? 

It is the lead story on Google Search.  It is explained in detail there right now.