Home U.S. Coin Forum

How do you bid certified NGC/PCGS

Curious to know what the other collectors approach is.

Do you Buy at bid? 10% back of bid?

Successful transactions with: Jinx86, Flcardtrader, Robkool, JWP.

Comments

  • FlatwoodsFlatwoods Posts: 4,122 ✭✭✭✭✭

    I can't buy at 20% over ask in this market.

  • oih82w8oih82w8 Posts: 11,657 ✭✭✭✭✭

    Depends on the eye appeal of the coin.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,...
  • spyglassdesignspyglassdesign Posts: 1,437 ✭✭✭✭✭

    Picture quality makes a big difference how much I'm willing to risk too. If the pictures show well all the details that are important I'm more likely to risk more than crappy pictures.

  • coinbufcoinbuf Posts: 10,396 ✭✭✭✭✭

    Coin buying/selling is not a one size fits all approach, you have to decide how much you like the coin and take the current market into consideration.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • BillJonesBillJones Posts: 33,033 ✭✭✭✭✭

    It’s always the coin for me. I’ll admit that there are more PCGS coins in my collection than NGC because I see more PCGS coins that I like. But two of the most expensive coins in my collection are NGC graded.

    I wish I could say that the coins for which I have way over paid totally please me. I love them as a collector, but the joy is tempered by the fact that I know I’m buried in them.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • jmlanzafjmlanzaf Posts: 30,358 ✭✭✭✭✭

    Odd question. Seems everyone wants to buy at bid but then quote the value of their collection at ask. You can't have it both ways.

    You buy the coin at the lowest number that will acquire the coin for the purpose intended. Period.

  • hfjacintohfjacinto Posts: 596 ✭✭✭✭✭
    edited August 4, 2022 2:17PM

    The slab itself doesn’t matter (well for the top3), I’ll pay what I feel the coin is worth. I always start at greysheet and go up or down depending on eye appeal/grade etc. I’m also frugal (my wife calls it cheap) so I rarely pay more than market. I have no issues emailing a seller to ask if the price is negotiable and when bidding I use Grey sheet as the high bid. Usually when it passes I pass. The 2 times I did more than market I felt like I didn’t pay a fair price. But in the end this is a hobby and when or if I sell it hopefully be at a time that coins are worth more than I paid.

  • BustDMsBustDMs Posts: 1,446 ✭✭✭✭✭

    @Paradisefound said:
    Depend on how BAD I want it 🤔

    And how GOOD it is………

    Q: When does a collector become a numismatist?



    A: The year they spend more on their library than their coin collection.



    A numismatist is judged more on the content of their library than the content of their cabinet.
  • JimWJimW Posts: 527 ✭✭✭✭

    @hfjacinto said:
    I’m also frugal (my wife calls it cheap) ...

    You are value oriented :wink:

    Successful BST Transactions: erwindoc, VTchaser, moursund, robkool, RelicKING, Herb_T

  • DollarAfterDollarDollarAfterDollar Posts: 3,205 ✭✭✭✭✭

    Generally today you start at bid and expect to pay a bit more. On E-Bay the bottomfeeders there "may" pay bid but very little more even on great (but common) coins.

    If you do what you always did, you get what you always got.
  • spacehaydukespacehayduke Posts: 5,072 ✭✭✭✭✭

    @Coinslave87 said:
    Curious to know what the other collectors approach is.

    Do you Buy at bid? 10% back of bid?

    If a coin is only worth 'bid' or 'back of bid' irrespective of holder, then it is not for me. Most of my coins I pay more that retail in the guides, and it is worth it............


    Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
    Everyman Bust Quarters
    Early Quarters
    CAC Capped Bust Quarters
    CAC Barber Quarters
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    When buying a coin, I consider the ask price and how much I like the coin. If I really like it, I pay ask... otherwise I pass if just a general interest. If an auction, I usually set my limit - if an ebay auction, and I really want the coin, I snipe with nuclear bid - and win. Cheers, RickO

  • jesbrokenjesbroken Posts: 8,709 ✭✭✭✭✭

    Their is no answer to the OP's question, as indicated by answers, it varies by bidder as to their wants, needs, available money, available financing(if needed), rarity, beauty and their future expectations of their collection(s). As has been seen this year by a few auctions resulting in super bids for an item, if a buyer really, really wants, needs and can afford the item, the sky is the limit.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.
  • CatbertCatbert Posts: 6,264 ✭✭✭✭✭

    Depends on your collecting goals. A high quality classic collection can't be build using greysheet pricing IMO.

    "Got a flaming heart, can't get my fill"
  • winestevenwinesteven Posts: 3,738 ✭✭✭✭✭
    edited August 6, 2022 6:28AM

    @spyglassdesign said:
    Picture quality makes a big difference how much I'm willing to risk too. If the pictures show well all the details that are important I'm more likely to risk more than crappy pictures.

    I agree that many collectors feel this way, and many times when I bid, I’m glad they feel that way (less competition for me when I bid on nice coins with inaccurate poor photos). That’s because there are times the photos don’t represent the actual coin in hand, especially with color and luster! That’s why I suggest calling the auction house (if the coin is in an auction), and asking for a numismatist to bring the coin in hand to the phone, and ask questions about the color, luster, strike, “distractions”, etc. Sometimes the coin is worse than you would have thought, sometimes better.

    If the coin is with a dealer, also call or email with those questions. Many dealers/sellers will give you honest/unbiased information, but possibly not as often as the unbiased information provided by the auction houses.

    Happy Hunting!

    Steve

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
  • Cougar1978Cougar1978 Posts: 7,205 ✭✭✭✭✭
    edited August 6, 2022 6:20AM

    Not set in concrete on it. I bid a pct of what think can sell it for. For me it’s the coin and where I see it in the grade range, potential to move quickly, contribution margin.

    Current market conditions and inventory mgt goals also considered.

    On quality world slabbed coins I look at pop like top pop, single digit pop, double digit pop (no graded - grade on holder and higher). These more excited about vs US as likely have only one in bourse room.

    Coins & Currency both US and World
  • MFeldMFeld Posts: 11,081 ✭✭✭✭✭

    In many cases, if you pay “bid”, you’ve paid way too much. In many others, you can pay significantly above bid and still be in a coin at a favorable price.
    It can be dangerous to focus just on bid levels and it’s likely to lead to the acquisition of mediocre (or worse) coins.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file