Why is the Numismedia Price Guide so out of touch with reality?

[Boom]

I've often wondered where they really get these prices from. I don't know about the rest of you guys (and gals) but some of the prices shown are just absolutely ridiculous pertaining to the series I collect.

 

Anyway, Hello everybody, it's been a while. Just thought I'd say Hello.

[Mozin]

I think Numismedia is just as good as PCGS pricing, often more current. In these times one must look at numerous sources to determine current market value for any given coin.

[Bruceswar]

Hello, and welcome to this side of the street... I will have you know I just got a 1934 Heavy Motto the other Day Circulated condition, but still cool.. As for the price guide mentioned, I have not checked it as of late so I can't really say.

[James_OldeTowne]

My guess is that any price guide produced by dealers is going to reflect those dealer's hopes and biased opinions as to what coins should be worth - and I have no doubts those biases will just happen to favor their own pocket books.

 

I would love to see a price guide that honestly reflects the coin collector's perspective, rather than that of the dealer.

 

James

[RoelSports]

In this market, price guides are worthless..whatever the market will bear seems to be the only guide we have...recent auction realized may be the best way to go..scr

[Architecht]

I've often wondered where they really get these prices from. I don't know about the rest of you guys (and gals) but some of the prices shown are just absolutely ridiculous pertaining to the series I collect.

 

Anyway, Hello everybody, it's been a while. Just thought I'd say Hello.

 

Have you seen the Ask NumisMedia forum on the forum list? You might want to ask a few specific questions there about various prices and see what comes back. Anything you can do to site specific sales that prove the point would make it that much better.

 

Arch

[TomB]

Howdy Boom. I've given Numismedia sales information on coins that I own and they have actually changed their listed prices on certain pieces to reflect that market reality that I have given them. There is a forum on these boards to ask them questions and they seem to respond promptly.

[MikeInFL]

I have found that, with the exception of moderns, the PCGS price guide is the most accurate source of pricing information.

 

Another valuable source is Heritage auction archives.

 

Finally, for moderns, Teletrade is a farily good source for pricing.

 

Have fun...Mike

[Tradedollarnut]

I think Numismedia is just as good as PCGS pricing, often more current. In these times one must look at numerous sources to determine current market value for any given coin.

 

Not in my series ... Numismedia has no clue - when they even bother to list a price.

[IGWT]

1880 5c MS-65

 

Numismedia Price Guide --

 

Retail: $14,950

Wholesale: $11,500

NGC (nmn): $10,000

PCGS (nmp): $10,000

 

Most recent auction results (Heritage) --

 

Auction 382, Lot 10130 Saturday, July 30, 2005 65 PCGS $57,500.00

Auction 394, Lot 3106 Saturday, January 7, 2006 65 NGC $46,000.00

[michael]

greysheet coin universe and numismedia are totally way WAY off base with their prices within the series i watch and specialize in

 

worthless in my opinion.........................

 

they cater to vested interests in their pricing

 

and there is nothing wrong with that as long as you place little to no credience in these online price guides

 

this is why i like ngc they stay out of the price guide valuation game

[EZ_E]

1880 5c MS-65

 

Numismedia Price Guide --

 

Retail: $14,950

Wholesale: $11,500

NGC (nmn): $10,000

PCGS (nmp): $10,000

 

 

Geez, talk about being out of touch!

 

 

This is why I feel that the proof example is such a great buy at today's prices. Afterall, if one wants a high quality set, one can try to find one in mint state for $50K or get a proof grade for a fraction of the money.

 

1880 PR66 Cam

[Architecht]

I think that NumisMedia willingly reviews and revises their pricing any time they're provided valid buy/sell data by any reasonable source. They key is the buy/sell data. If you have something, just forward it to them.

 

The reality is that a valid price guide is going to be composed of the efforts of dealers, an impartial group assembling the prices, but can also only be made better by the assistance of collectors. My suggestion is that if you want a stronger price guide, then endeavor to provide key information is as complete a format as possible. I think NumisMedia would react to it...

[DennisBaker]

Thank you for your remarks concerning the 1880 Shield Nickel; we are working to update it and the entire series. It will be done with the next upload in a few days.

[James_OldeTowne]

Dennis, thank you for the PM, and thanks for joining this discussion.

 

James

[PandaMan-migration]

It is a strange quandary. Personally, for insurance purposes, I follow the guide pricing (either NGC or PCGS) but, when I want to buy a coin, I follow the e-bay auction selling rates. Now, before anyone tries to take my head off, I buy almost entirely newer coins (American Silver Dollars, Canadian Maple Leafs & Chinese Panda Coins) nothing rare by any standard.

The point being this, PCGS has a 1993 W MS69 Silver eagle priced at $160.00. I picked it up for $35.00 (plus s/h) and the seller had like 90 left. So it's value was $35.00 to me. Of course as time goes on and there are fewer changing hands the rate may climb, but I can almost guarantee that no one would buy this coin from me at $160 now.

Also, particularly with the moderns, almost every coin I get is PR/MS 68 or higher and as more and more people send them in for grading, it will throw the system off kilter. Agree?

 

Gary

[IGWT]

I took Arch's suggestion and added a post to the Ask Numismedia Forum, and Dennis provided a like response there. If only every company were so responsive and all the world's problems could be resolved so easily. . . . Now all I need is a mint state 1880 5c. Numismedia and NGC obviously found good partners in one another.

[DennisBaker]

In reference to a question about price guides and their owners buying and selling coins. NumisMedia does not buy or sell coins. Our only objective is to offer pricing information for accurately graded U.S. coins so that dealers and collectors have an opportunity to trade in a fashion that resembles a level playing field. While it is always difficult to compare apples to oranges, our information is only as good as the info provided to us. While we delve into the marketplace as deeply as we can, there is much information that we must rely on from dealers who trade coins in a private manner. As long as the info we receive is legitimate and we can determine that it is not self motivated for extravagant profits, we will take it into account. We are also willing to listen to collector input, however, it is sometimes more difficult to determine how this info can be used. Hope this clears the air about whether we buy or sell coins and how we acquire info.

[RoelSports]

Dennis, thanks for taking time to post..it's refreshing to see a "suit" that cares about his customers..scr

[ronday]

I think that NumisMedia willingly reviews and revises their pricing any time they're provided valid buy/sell data by any reasonable source. They key is the buy/sell data. If you have something, just forward it to them.

 

The reality is that a valid price guide is going to be composed of the efforts of dealers, an impartial group assembling the prices, but can also only be made better by the assistance of collectors. My suggestion is that if you want a stronger price guide, then endeavor to provide key information is as complete a format as possible. I think NumisMedia would react to it...

 

Looks like you are spittin into the wind. Too bad good advise often goes unheard.