How do you bid certified NGC/PCGS

Coinslave87

Curious to know what the other collectors approach is.

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

Flatwoods

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

oih82w8

Depends on the eye appeal of the coin.

spyglassdesign

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.

BryceM

Depends on the coin. Always has, always will.

coinbuf

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.

airplanenut

Some of my best purchases are the ones where I paid far more than any price guide would have indicated... and still felt I got a great deal.

BillJones

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.

jmlanzaf

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.

hfjacinto

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.

Paradisefound

Depend on how BAD I want it 🤔

BustDMs

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

And how GOOD it is………

JimW

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

You are value oriented

DollarAfterDollar

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.

Desert Moon

@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............

ricko

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

jesbroken

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

Catbert

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

winesteven

@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

Cougar1978

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.

MFeld

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.