Survey: quality vs. price

RedTiger · July 25, 2008 12:08AM

What line best describes the coins that you buy for your main collection (not for quick resale)? By quality, I mean for the grade, not the grade itself.

High quality, high price
High quality, average price
High quality, bargain price
Quality no matter the price

Average quality, high price
Average quality, average price
Average quality, bargain price
Average coins, all sorts of prices

Bargain bin quality, average price
Bargain bin quality, bargain price
Bargains no matter the quality

By definition the average collector is likely buying average coins, at average prices, despite all the clamoring about only buying super coins.

Do you think most or all of your coins are above average for the grade? If everyone thinks that where do all the average coins go? I think only those with superior grading skills and superior dealer connections are likely buying real high quality for average or bargain prices.

/edit to add, I added one more option: average coins, all sorts of prices

garsmith · July 25, 2008 12:22AM

I prefer low quality, high price. How come that one in not on the list

curly · July 25, 2008 12:36AM

Brothers, I voted "high quality high price". I've done the other ways and got my a$$ tore. I like what I'm buying now.

dorkkarl · July 25, 2008 12:45AM

i got so many coins, its all over the place

K S

BillyKingsley · July 25, 2008 1:38AM

Unfortunatly in my price range, if I want classic coins they are going to have to be inexpensive. Which means, there's likely going to be something wrong with them!

RedTiger · July 25, 2008 4:01AM

As I suspected, the majority thinks their coins are above average. The colloquial name is the "Lake Wobegon effect" where Garrison Keller opens the radio show with "all the women are strong, all the men are good-looking, all the children are above average." There is a chance that indeed most of the coins being bought are above average, because forumites are better informed than most collectors. However, there is also a chance that folks are fooling themselves.

http://en.wikipedia.org/wiki/Lake_Wobegon_effect
link

These days, for me, an average coin, at a average price seems a fine and workable goal. If I end up with an average collection, and can be an average coin collector, I see no shame in that, actually some pride.

Gemineye · July 25, 2008 4:23AM

<< <i>These days, for me, an average coin, at a average price seems a fine and workable goal. If I end up with an average collection, and can be an average coin collector, I see no shame in that, actually some pride. >>

With an average paycheck you are doing quite well then...probably same as most of us...

Arizonadesertrat · July 25, 2008 6:35AM

What Curly said. If you want quality, you usually have to pay through the nose. Anytime a seller tells me that I would be getting a coin really cheap, I am inclined to wonder what I missed when I inspected the it.

Coxe · July 25, 2008 6:37AM

I buy lots of coins. Rarity drives the purchase as the predominant facor. When quality can be obtained, of course, I go for it. Price is determined per all factors.

roadrunner · July 25, 2008 10:59AM

As I suspected, the majority thinks their coins are above average. The colloquial name is the "Lake Wobegon effect" where Garrison Keller opens the radio show with "all the women are strong, all the men are good-looking, all the children are above average." There is a chance that indeed most of the coins being bought are above average, because forumites are better informed than most collectors. However, there is also a chance that folks are fooling themselves.

This also applies to many dealers who claim to only buy coins in the top 5 to 10% for each grade. The only problem is, there are often less than 10-20 coins in that particular grade which makes 1 coin out of 5 in the top 20% at best. If there are only 2 coins for that grade of coin, that makes the best one in the top 50%.

I've been looking for that "top 5% only" dealer for the past 40 years and still haven't found them. Maybe someday I'll run across them.

roadrunner

Swampboy · July 25, 2008 11:14AM

<< <i>I prefer low quality, high price. How come that one in not on the list

>>

Geez, if you buy retail and sell wholesale too I might just open a shop in your zipcode.

COALPORTER · July 25, 2008 11:15AM

Most dealers i know only sell PQ+++ coins, however they only buy overgraded clean hairlined junk.

NHSBaseball · July 25, 2008 11:25AM

I overpay for the nicest coins that I can barely afford.

Broadstruck · July 25, 2008 11:27AM

<< <i>I overpay for the nicest coins that I can barely afford.

>>

I'd rather have a couple premium examples... then a dozen dogs.

RedTiger · July 26, 2008 4:18AM

<< <i>As I suspected, the majority thinks their coins are above average. The colloquial name is the "Lake Wobegon effect" where Garrison Keller opens the radio show with "all the women are strong, all the men are good-looking, all the children are above average." There is a chance that indeed most of the coins being bought are above average, because forumites are better informed than most collectors. However, there is also a chance that folks are fooling themselves.

This also applies to many dealers who claim to only buy coins in the top 5 to 10% for each grade. The only problem is, there are often less than 10-20 coins in that particular grade which makes 1 coin out of 5 in the top 20% at best. If there are only 2 coins for that grade of coin, that makes the best one in the top 50%.

I've been looking for that "top 5% only" dealer for the past 40 years and still haven't found them. Maybe someday I'll run across them.

roadrunner >>

Oh, there are plenty of top 5% dealers. Top 5% in price

. It may be true that they only buy one out of twenty coins offered to them, so there may be an element of truth. The catch is that coins being offered, are not the total universe of coins.

I have to say that Roadrunner is one of the few that I would believe if he says that he buys top quality at average or even bargain prices. He is well connected and has a discriminating and well-trained eye. If a person doesn't have contacts, and/or can't grade very well, it is difficult to believe that person is buying quality at good prices.

copperfan · July 26, 2008 4:28AM

This is hard for me to answer in one short response.

I have coins that cost under $10 that are "killer" coins.

I also have coins I have spent $$thousands on because it was the best out of 50 or so with the same grade.

When I spend money on a coin, I buy the best I can and I dont like to settle on the first piece I look at. I like to see multiple examples and then make a choice for the best I can find. (The best to me)

I like bargain bins and junk boxes. Some great coins are found and also some great varieties can be found.

Its all about what YOU like and what YOU are willing to spend.

For me I guess the closest choice is Quality coins, all sorts of prices.

Survey: quality vs. price

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