Did a Practice Exercise for Future Purchase - I Have Some Questions

Shane6596

Im not buying this coin, just spun the pcgs wheel on ebay and this one caught my eye.

So i pretended like i would buy it. I went to pcgs, did the verify, looks legit.

First question, the pcgs price guide value of $25. What is that number based on? Is that what this coin is expected to sell for? The asking price of coin is much more than that.

Next i went to auctions that sold and looked at pricing.

So these numbers are higher than the $25 but i see the grades are much higher so i would expect the higher price.

The seller is asking $350 for this coin. Is that because there is a premium in the toning and the rpm fs-501? Is the price justified or too high?

I tried looking up details on the greysheet but i need to sign up to see those. Will the greysheet show me the value of this coin?

MasonG

Greysheet shows wholesale values, PCGS price guide shows retail values. Toning adds value for lots of buyers. There is no price guide to describe how much.

JW77

Unless you think the toning is worth 10 times fair value the coin is way over priced.

telephoto1

Unless that's a rare and sought after RPM, absent the toning this coin looks like it would be in my junk silver box.

Shane6596

@MasonG said:
Greysheet shows wholesale values, PCGS price guide shows retail values. Toning adds value for lots of buyers. There is no price guide to describe how much.

This is what i was looking for.

So its a $35 coin that someone thinks is worth $350 due to toning.

lilolme

'First question, the pcgs price guide value of $25. What is that number based on? Is that what this coin is expected to sell for? The asking price of coin is much more than that.'

This is how pcgs describes their pricing:

.
.
You can click on the pc price to get a price history and for this one it shows the price of $25 unchanged over the last 5 and 10 years. So no update. No auction records and I guess no input from other sources.

In the auction record sort you can limit it by grade range. However, one can see that the only one in this grade range is the XF45.

Also in the auction record sort you can include eBay but this will give you a pop up that indicates Not responsible for accuracy. When I did that this is what shows up (Note - I have not sorted by grade (all grades) but included eBay). Now there are some from eBay at a lower grade and price. Again Not responsible for accuracy comment. Still no current (last couple years) numbers but yes it is a high price comparatively.

I suspect the seller might be thinking the toning is what might get the price, but...???

Shane6596

Lilolme...thats good info, thanks.

I will check out the ebay auction link in the pcgs

Shane6596

Like i said, im not buying this coin. Just going through the motions so i can get a feel for how to best find if a coin is really worth asking price.

Thanks

coinbuf

You found a seller looking for a sucker, his asking price is way high and I would bet that the coin has been sitting for a long time.

JW77

@Shane6596 said:

I tried looking up details on the greysheet but i need to sign up to see those. Will the greysheet show me the value of this coin?

FYI: If you go to CoinFacts and click on one of the Heritage auctions , then click on "original lot at HA" you can see Greysheet pricing for most coins. In this case there is no Greysheet data likely because of the RPM/ or low value. You will also need to register for HA if not done so already.

Catbert

You wouldn't believe the premium I paid for a PR67 1963 quarter. As they and @coinbuf say, there's a sucker born every minute.

MFeld

@Shane6596 said:

@MasonG said:
Greysheet shows wholesale values, PCGS price guide shows retail values. Toning adds value for lots of buyers. There is no price guide to describe how much.

This is what i was looking for.

So its a $35 coin that someone thinks is worth $350 due to toning.

Don't assume that an asking price is what a seller actually thinks a coin is worth.

pursuitofliberty

As if I didn't wear out my welcome in the other thread ... and God how I hope this doesn't belong to a board member

I would be VERY careful of asking prices being an indicator of market value (sometimes they are, sometimes they are wishful thinking), and I would be EXTREMELY skeptical of valuing common date 20th Century EF coins with a minor and fairly common RPM with bright, colorful toning for anything near what might be 2x 67 (pop-top) money for the variety, and probably near 68 money for the date and mm.

My 2c ...

Shane6596

Its all good feedback from everyone. Thank you.

Im asking questions, reading books on coins, gathering up knowledge.

Im not going to make an expensive coin purchase for a few months yet.

This thread was for me to gather more information. I have and i will put it in my notes.

Then i will have more questions that i hope many will respond to.

daltex

@Shane6596 said:
Im not buying this coin, just spun the pcgs wheel on ebay and this one caught my eye.

Next i went to auctions that sold and looked at pricing.

So these numbers are higher than the $25 but i see the grades are much higher so i would expect the higher price.

The seller is asking $350 for this coin. Is that because there is a premium in the toning and the rpm fs-501? Is the price justified or too high?

I tried looking up details on the greysheet but i need to sign up to see those. Will the greysheet show me the value of this coin?

Just a couple of comments: all of these are for the FS-501 (that's what the 145461 means) and the auction data is very old (only two within the last five years) so it is hard to say that it's very relevant. Auction results get stale.

Having said that, all the auctions are for coins higher graded than yours and for less than half the price of yours. You'd have to like the toning a lot to buy anywhere near that price, but if you do ultimately $350 isn't a ton of money. It's less than a quarter ounce of gold. Most of us can afford to throw away that much money, no matter how much it hurts, and we'd rather take our kid to Disneyworld, but $350 isn't lifechanging money even if you could only get $20 when you sold.

Collect what you like! Don't feel compelled to spend your $350 on the world's ugliest MS 68 (I guess there is just 1) because it's a "good deal".

ricko

One further input.... Paying for colorful environmental damage is - IMO - foolish, unless you can flip it for a profit to those who value that feature. Cheers, RickO