P{CGS Guide says 1916 Merc AU58 more valuable than 1916 Merc AU58 FB. How does that work?

Route58

Lists 40 / 42 for AU58 and 30 / 31 for AU58 FB. What am I not understanding?

Hemispherical

Welcome to the CU forums @Route58.

https://www.pcgs.com/coinfacts/coin/1916-10c-mercury/4904

Let’s seen what our hosts says:

“The PCGS Price Guide prices apply only to PCGS-graded coins. The PCGS Price Guide is a guide to assist the coin buying public in determining values for all important United States rare coins. Before you use the Price Guide, you should read the following information very carefully.

WHAT DO PCGS PRICES MEAN?

The prices listed in the PCGS Price Guide are average dealer asking prices for PCGS-graded coins. The prices are compiled from various sources including dealer ads in trade papers, dealer fixed price lists and website offerings, significant auctions, and activity at major coin shows. Dealer specialists and expert collectors provide pricing input. Remember that the prices are just a guide, a starting point for asserting value. Some PCGS coins sell for less than the prices listed and some PCGS coins sell for more than the prices listed.”

Ultimately, as a buyer using the Price Guide is only one source. Check the latest sold from Bay, GC, HA, etc. to get a latest prices and then calculate your own average.

roadrunner

@Route58 said:
Lists 40 / 42 for AU58 and 30 / 31 for AU58 FB. What am I not understanding?

It could be an error or glitch as we all know a FB coin has to be worth more than a no bands coin. In this case I'd use the higher price between the two....understanding than many of those 187 graded AU58 (no bands listed) probably have split bands, though not identified. This must be a fairly new thing for non key dates. If you scan the entire series each common date has at most 1 to 2 FB AU58's listed. And only the 1916 AU58 FB with a pop 2 has a price listed. It would have made more sense to list no price for consistency with the others. It could be that 1 or 2 sales at the $30 level were noted and that price was entered. These don't go auction so where would PCGS get an actual reported price transaction from?

Since these AU58 FB's are VERY low pop coins for non-key dates, there are very few to no transactions on what they sell for. And they probably don't being all that much of a premium to the non-FB designated coins. For someone collecting a set of these....they are all mostly pop 0-1. There can currently only be ONE possible set....and it wouldn't even be nearly complete. Certainly some arbitrage potential here based soley on the numbers to built a "rare" pop 0-2 set. By designating some of these common dates AU58 FB....it opens up the potential for initial over-pricing.

ChrisH821

I didn't know they designated FB on AU coins.. That's interesting

roadrunner

Just because there is a price listed doesn't mean a transaction occurred. PCGS has not graded a MS65 or better 1857-0 seated half dollar. Yet the price guide lists $22K as the "value." And realize that CAC has not ever stickered an MS65 or higher example of this date. The price guide is there as a tool for us to utilize, verify, and compare to other sources. There are some anomalies in thinly traded areas.

Route58

@roadrunner said:

@Route58 said:
Lists 40 / 42 for AU58 and 30 / 31 for AU58 FB. What am I not understanding?

It could be an error or glitch as we all know a FB coin has to be worth more than a no bands coin. In this case I'd use the higher price between the two....understanding than many of those 187 graded AU58 (no bands listed) probably have split bands, though not identified. This must be a fairly new thing for non key dates. If you scan the entire series each common date has at most 1 to 2 FB AU58's listed. And only the 1916 AU58 FB with a pop 2 has a price listed. It would have made more sense to list no price for consistency with the others. It could be that 1 or 2 sales at the $30 level were noted and that price was entered. These don't go auction so where would PCGS get an actual reported price transaction from?

Since these AU58 FB's are VERY low pop coins for non-key dates, there are very few to no transactions on what they sell for. And they probably don't being all that much of a premium to the non-FB designated coins. For someone collecting a set of these....they are all mostly pop 0-1. There can currently only be ONE possible set....and it wouldn't even be nearly complete. Certainly some arbitrage potential here based soley on the numbers to built a "rare" pop 0-2 set. By designating some of these common dates AU58 FB....it opens up the potential for initial over-pricing.

Many coins consistently sell on eBay well below - or well above - PCGS guide prices, so there appear to be vast opportunities for arbitrage.

For example, AU58 Walkers consistently sell on eBay well above Guide prices, while midgrade MS common Walkers consistently fail to sell for full Guide prices. (Took me six months to find a nice BIN 58 1941 for the Guide ask of $25.) If I had a reliable source of slabbed AU Walkers - which are far scarcer than their MS counterparts - I could sell them on eBay all day long.

KollectorKing

“ If I had a reliable source of slabbed AU Walkers - which are far scarcer than their MS counterparts - I could sell them on eBay all day long.”

Like this

tradedollarnut

Are there any 1916s without full bands?

mannie gray

@tradedollarnut said:
Are there any 1916s without full bands?

Maybe VFs

remumc

It's been my experience that PCGS usually only denotes FB designations on key & semi-key dates/mintmarks in the AU grades in 55 & 58. Years ago I made a 26-S AU-58FB if I remember correctly. Of course I thought it would at least grade 64FB. Wasn't a heart break as I received it in change at my local liquor store. Wish I still had that dime!

AUandAG

@tradedollarnut said:
Are there any 1916s without full bands?

Probably the rarest of the two is the non full bands.

bob