Coin prices

[MikeKing]

How are they really determined?

[Dermott]

Most price guides for coins or any other collectible are based off of input from a panel of dealers representing a cross section of the country (i.e. some from each region) and who have been in business for a good while and are generally well known in the dealership industry. Other than that, the only other source would be auction realizations and large coin show observations.

 

I'm not sure how CDN or others of that type are done though, but the "collector-targeted" guides are egenerally done via a panel of dealers.

[msmhappy]

 

 

Matt is on the right track about books and price guidelines. They are generally the average dealer asking price around the country.

 

One should also consider Supply and Demand!!

 

Take for example a coin graded by NGC ( or another third party grading service ), in the ulimate grade of 70. The perfect coin!!! Well, this perfect coin is in big demand and will carry a high premium with it. Not many coins are given the grade of 70.!!!! Demand is high, Supply is low.

 

If the demand for something is high and supply is low, the price goes up!!

 

Another example is mintage quantity!!

 

Take barber dimes for example;

 

A 1913 barber dime has a mintage of 19,760,622 and at ms-60 is $90.00

A 1913S barber dime with a mintage of 510,000 and at ms-60 is $400.00

 

Big difference huh!!!!

 

I know this wasn't much, but I hope it helps!!!!

 

mike

 

 

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dont forget! collect proof sets!!!!!!!!!!!!!!

 

 

 

 

[MikeKing]

ok, so how can I better understand e.g. the 1873 CC Double Eagle, 22,410 minted, PCGS population being 181, and I think only 400-500 pieces are believed to be extant; a rare coin I would think, compared to a 1901-S Eagle 2,812,750 minted. PCGS population for the 1901-S in MS65 alone, is 552 + NGC 774 = 1,326; exceeding the total population of the 1873 Double Eagle about three fold.

 

Yet, the 1873 CC Double Eagle is only priced at $1,700 in XF (although it's priced at $23,000.00 in MS60), whereas the 1901-S Eagle is priced at $3,550 in MS65.

 

Granted, the 1901-S Eagle is $230 in XF but I still don't understand an XF 1873 CC Double Eagle costing less than an MS65 1901 when the 1873 is rare in any grade.

 

Is it all demand?

 

 

 

 

[Tradedollarnut]

Yes.

[msmhappy]

 

 

Yes it is "all demand".

 

mike

 

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dont forget! collect proof sets!!!!!!!!!

[baseball]

How can pricing, in any collectable field, not be 100% demand? The whole point of a price is to measure what a given coin should be sold/bought for. If no one wants to buy the coin, then $0 would be the price. Mintages, pop figures, condition, etc. are all just the backdrop that allow for collectors to determine how much they desire a given piece, which directly translates into demand.

 

 

 

 

[MikeKing]

rarity alone won't do it ?

[GDJMSP]

If rarity alone would do it - then some of the World coins which have mintages under 100 would be mighty expensive. They are not - yet.

 

I own some of the more rare varieties of Spanish colonial coins - the most widely circulated coins in North America prior to the birth of the US. Some of them have less than 50 examples known - and they don't cost a fortune either.

[michael]

well for me it is only about three things

 

demand demand demand

 

in other words a really simplistic view for me in how i understand it in my own little world and how i would do it is

 

you got a coin and you know about the coin as you are an advanced collector and then you try to sell it to another advanced collector/dealer who knows and understands what he is looking at and also has a want/need for the coin and there is demand for the coin

then the seller wants to sell and the buyer wants to buy and they come to some sort of price

 

this is what the price of the coin is worth at that moment

 

but remember coins are a fluid highly undercapitalized thinly traded unregulated luxury item market and the prices are always in a state of flux

 

sincerely michael

[michael]

also when you are buying a coin is only worth what you are willing to pay for it with hopefully discretionary money as a hobby for fun

 

and you are buying the coin as you like it and the price!

 

it is up to you what you think it is worth to you based on your specialization in this type of coin you are looking for after studying it and others like it and the market trends and prices and other collectors and dealers and looking at many many coins for sale and after much study thereof

 

sincerely michael

[cladking]

 

but remember coins are a fluid highly undercapitalized thinly traded unregulated luxury item market and the prices are always in a state of flux

 

Well said. Then we complain when we ask the third party graders to "price" our coins and there is variation over time or between graders or submissions. You can't please everybody all the time.

[michael]

coins is a lifelong hobby that takes time and patience to learn

 

if you think anything different than the above three posts i posted then do not buy coins and if you do

 

then

let the buyer beware

 

as per my above three posts this is what i truly and totally believe in as per coins and if you cant follow the above then that is okie BUT

let the buyer beware

 

sincerely michael

 

if you have to have s sheet of paper or someone else tell you what a coin is worth then you should not be buying coins

[Elcontador]

Mike,

 

Listen to TDN. Some coins always seem to be available in all grades, and relative to the pop reports, are very expensive. The 09S VDB comes to mind; the coin is NOT scarce, but every collector seems to want one. Ditto re MS 65 or better CC Morgans.

 

Also, if a coin is really scarce & in demand, throw away the price sheets. The coin will go to the highest bidder, period. An example is Bust $s in AU; you can pray to St. Jude or make a hajj to Mecca; you won't find a properly graded one for anywhere near Greysheet bid or ask.

[michael]

really anyone can grade a coin the real thing about any coin is the price

 

of you have an early bust dollar and i call it a high end vf and you call it an xf well that really doesnot maztter if you want 2500 for it and i am willing to pay 2500 then that is what the coin is a 2500 coin!

 

i mean really the services are not grading coins they are pricing coins if you think about it

 

i mean even greysheet means nothing if you got a properly graded coin that is in demand it will sell for way over greysheet to not one but many happy buyers and then if you think about it what makes the greysheet the end all in pricing?

you mean to tell me if on tuesday the graysheet says vf 1877 indian cents are bid at 50 dollars do you mean to tell me you will not pay 100 dollars in this market today?

 

sincerely michael