I'm curious why pcgs does not include GC prices realized
Morgan13
Posts: 1,253 ✭✭✭✭✭
If this thread is going to cause a problem I will change the title.
I just don't get it. They show ebay which is somewhat unreliable.
GC is very popular with collectors so I don't get it.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan
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If I recall correctly, I believe it has something to do with GC limiting the amount of data it shares with third parties.
From what I’ve read, it’s because GC has chosen not to make the information available by that means.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
OK well that answers my question. I think that's unfortunate but that's their choice.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan
@ianrussell is the owner of GC and is a forum member here. Perhaps he can respond to your question.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Can't say if it has changed, but this was Ian's position back in 2019.
Edited to Add a Screenshot:
Anyone can go into GC archives on their sales and find what coins they auctioned went for. So I am not sure what the problem is here. The PCGS website does not always cover all coins auctioned from SB, HA, etc., so without going directly to the SB and HA auction archives as well, one can miss alot of information restricting oneself to one source for auction prices.
Data is extremely valuable these days. My WILD guess is they haven't been able to come together contractually. I expect it will happen at some point ... at least I hope so.
Dave
Exactly. That data is valuable. I’m sure GC feels the best way realize that value is to drive traffic to their site if you want to view it.
They make ebay optional which is a huge marketplace, with sometimes sketchy sellers and relisted items for various reasons. Though ebay itself sunsets the sale results at 3 months, Coin Facts goes back a lot further. I thought that GC makes it hard to view auction results, the older the harder.
Maybe if your purpose is just to get a general idea of value, but for specific coins the GC archive is very tedious to use. You can't search by certification number, and if it's a commonly traded coin you have to browse through hundreds or thousands of listings hoping to stumble upon the coin you're looking for. And that's if you know for sure that it was sold through GC, which when looking up a prospective purchase you have no way of knowing.
I know many dealers who buy inventory off of GC. Separate from the data ownership, the "difficulty" of looking up a coin may be a feature, not a bug.
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
My ideal auction database is pretty much the Heritage past auction records. I recently bid on a bunch of coins that I had little price knowledge about: Roman both Republic and Imperial and that was a lifesaver to give an approximate idea to the ultimate buyer how much of his money I was going to spend. I got everything that he wanted from the choices that I gave him in his specific Caesars and came in a few thousand under budget even with an extra AV aureus in Ch. XF.
I do understand the lack of sharing though, I know that for more common stuff GC has replaced hunting on EBay for me, and that is the market that I expect GC wants to inhabit, and slowly grow into the higher end with their pricing policies.
@spacehayduke I never said it was a problem. I just asked why and I received answers to my question. Just like others here have posted I have my resources for finding a rough idea of values and PCGS is one of them. It's fast easy and free!
BTW I think GC is excellent at what it does so I wasn't being disrespectful at all.
I think it would also be free advertising for them.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan
Interesting perspective!
Hi - the GC auction archive has all of our auction records - updated in real time as items close on a Sunday. We're up to almost 1.5 million records.
We have avoided releasing to third parties for a few reasons - it's something we regularly review - and I can see positives and negatives. Right now, I'm 55% sure we're making the right decision by not releasing it to third parties.
I am reminded by someone I highly respect in our industry who really wanted our prices. When I asked "what would you do, if you were GC" - his immediate response was "definitely would not share the data".
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
This is the information age.
Information has value, giving it away would not be a wise business decision.
Ask Apple, Google, Tesla, well I think you get my point.
edit: I speak as a retired intellectual property attorney/CPA and member of the USPTO, having represented many SV startups and giants.
I am thankful to those like Heritage, Stacks, David Lawrence, Goldberg, (and formerly Legend auctions) and any others I have missed that do share their data-information outside of their own website (what I will call bulk sharing).
The bulk sharing allows for resources like auction prices realized (APR) to be provided to collectors and dealers through various sources of ones choice. If all the auction houses did Not bulk share their data, then collectors would need to go to each individual auction site to find APR's and record data to support potential purchases or perhaps in doing technical reviews or similar.
I believe, but don't have the actual data to support, that bulk sharing also allows for more accurate Price Guides because of the ability to sort and review bulk data to more accuracy than reviewing APR's at each individual auction site. Just seems logical. Additionally and in relation to the APR above, when one looks up a Price Guide value the supporting APR can be supplied giving the collector supportive (or sometimes not ) information on the value.
While I am certainly not a big time user of these resources, I have found them to be more than adequate 95 plus percent of the time. I do semi-regularly click on the links to go to the actual auction lot at the applicable auction house to view a specific coin/lot and/or read a lot description or more.
Again thanks to the auction companies that supply the bulk data for all of this to happen as I believe it helps the hobby overall with respect to valuing coins and/or doing technical reviews.
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
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https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Am I the only one that can't figure out how to use GC's database to quickly research prices?
I'd be much less frustrated with their refusal to share if they made it easier to search their database.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I'm actually surprised to hear this because it's pretty intuitive. Are you doing it on your phone? That might be the issue, it's not very cell phone friendly, better for a desktop.
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
I am a fan of a GC and Ian - customer- friendly and always responsive. That said, I wish CoinFacts had GC results. But it’s Ian’s data and I understand why he would want to drive traffic to GC’s website.
It does make me wonder why Heritage and Stacks don’t view it the same way.
FWIW, when I price a coin, I start with CoinFacts and then may look at CAC pops/prices (if coin is stickered). I only consult GC archives if I feel I need an additional data source.
"Look up, old boy, and see what you get." -William Bonney.
I have no problem quickly using the filters on PCGS’s Auction Prices Realized and on GC’s Coin Auction Archive on every coin I buy, whether via auction or from a dealer. Matter of fact, my filter choices are SAVED on the GC site, so when I select the year for a coin, those filters are automatically set to show me all sales only of coins graded by PCGS, only coins with CAC stickers, and in recent date order. With the PCGS site, with each search I first have to click on PCGS coins, and then separately, CAC. Thank you @ianrussell .
Steve
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
Hopefully my question did not create controversy.
It doesn't appear to have.
I now understand much better why GC does not choose to share their data.
It's okay by me.
👍
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan
Better, yes. But not as good as sorting the coins by type, denomination, and date.
Looking up using those simple criteria makes for a pleasurable usage.
Forget the general type that brings up each date and quantity sold. I like the Heritage method of being able to specify type then date and seeing many past auctions. And the date of sale to figure out how old that auction was.
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I agree with most of this. On the "wonder why Heritage and Stacks don't view it the same way" question - I would like to think that possibly they see a value in the coin community by making their APR a bulk share. However, I think it could also be driven by having their information available and therefore their 'Name' on multiple websites and App's (think CCE & CDN apps, coinfacts, PCGS APR, NGC values and others). People using these are seeing the auction company 'Name' listed. Additionally people, I am one, will sometimes/often click on the links to go to the websites to view the coin(s) - is it a dog or a beauty coin thing or read a description. With that said I have no clue what the value of all this is versus other. Their decision. One more thing is that I still sometimes go to the auction company website for searches as I feel I can sometimes get better or more defined results. So that is not all lost.
One thing is for sure, having all this data available has almost completely change the way pricing and value determinations is done. Also sometimes technical research. Not so many years ago, it seems but...., when doing the Morgan set I came across an 1893 CC pcgs 64. I had a greysheet subscription and used other guides and floor pricing. I had noticed the 1893 CC had gone up in the past months or so. When I found one at a show I was curious. I went to a dealer I knew well and asked about the 1893 CC 64 price. He looked it up and said something like (I don't recall exact words or numbers) there is a bid supporting that greysheet number but the next highest is well below. He then looked up who the bid was from and surprise it was from the dealer selling the current 1893 CC 64. I chuckled and asked, do you think that (sight seen) bid is going away when he sells that coin? Smile. Oh, I did not get that one.
Anyway having this data available today is orders of magnitudes better for the coin community than not having it, I think. But still pricing / value is a variable or not precise.
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Very well thought out response, and I think that’s definitely something Ian could take into consideration is that if his ultimate goal is to drive traffic to the site, it may be best to make them available to the aggregators.
At shows, I often encounter many dealers and collectors who don’t even bother to check GC comps, because they don’t use Gc frequently. If all of those aprs were made available, a lot of those people would be visiting the site more often and see that a specific issue performs much better on GC than the other venues. (23-d saints in 66cac, for example). I always click on the link to compare the actual COIN too, just seeing the amount it sold for is of little use to me.
Also, laymen who aren’t very familiar with the industry and all the different venues can easily make their way to CoinFacts with a cert number. The first thing they see is that everything sells on stacks or heritage, so they assume that those are the premier auction venues. Without GC comps being there, there might be thousands if not tens of thousands of potential clients who don’t even know that GC exists.
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‘’Right now, I'm 55% sure we're making the right decision by not releasing it to third parties.’’
Note- that is 55% certain that it makes no sense to release the information FOR FREE at this time. If Ian was offered $100/month to release the info. to a given (reputable) third party, I suspect he might be 54.99% certain he was making the right decision to not release the information. On the other hand, if Ian was offered $1,000,000/month to release the info. to a given (reputable) third party, I suspect Ian might be 99.99% certain it makes perfect sense to release the info. to that given third party. Like nearly everything else, “cold hard cash” is simply at the core of this business decision.
Just my 2 cents.
Wondercoin
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Agree. I posted above how pricing has changed (I went maybe a little too far back but was fun to recall) but I believe access to information has changed and is still changing.
I will try a funky example that perhaps only I will understand (hopefully not). So initially there were the auction house websites and a road around them with some exits to go to them. That road is the internet or one's browser and the exits are bookmarks or advertisement links to the websites. This would be similar to driving people to a website.
Then these second party companies start putting together these highways. It is a multi-deck highway with each deck being a different second party (again CDN, CCE, pcgs auction prices realized, coinfacts, ngc value... are the various decks of the highway) that do similar things but with some differences. This highway continues to develop and grow with information and gets more drivers/users. The highway decks have spurs which are similar to the exits above that get you to auction house website and then back onto the highway efficiently. And again this continues to grow with information and users.
At a similar time phones are becoming more powerful and efficient with 2G, 3G, 4G, 5G and/or wifi. Throw in the development of Apps and updates to make them work better on phones and this generates more drivers/users on the second party highway. The original road is still there with the bookmarks, ad links or similar. But as DD noted, and from what I have seen I agree, people are using a deck or two of the highway to access information and often get what they need there and move on. They see what is on the highway.
Anyway it appears there is a change in how people access the auction information and prices. These highway decks even have billboards on them as I see banners on PCGS APR and Coinfacts pages so I assume they are getting some drivers/users.
So what is more popular today in accessing this auction information? The original road or a deck on the highway?
So when looking at the PCGS APR ,I chose the 1885 CC Morgan dollar as an example. I could barely get the first page of 25 on the screen and is below. What I see is essentially ads for Heritage, Stacks and Scotsman, Legend showed up in this example or what I noted above as getting their 'Name' out. Or like a billboard on the highway and with that spur exit (links) to their website.
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
I love the honesty and openness of this comment. Ian’s willingness to come here and answer the question speaks volumes about the way he conducts business. Kudos.
You are entitled to your opinion, but do you care to explain why you think GC is a cancer to the hobby? I for one think they are an asset to the hobby. The more places to buy and sell coins the better IMHO.
Philippians 4:4-7
It’s just a reflection of his thinking process.
Steve
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
Sure, Ian answered the question in his own way above but…
Data is one of the most valuable things on the planet.
Everyone wants the data for free or cheap. Lol
The data is free if you GO TO the GC website.
Why would GC give away their data for free or cheaply to purposely boost other websites and reduce the traffic to their website? That’s insane. Most businesses want more traffic on their website, not significantly less.
For the people wanting the data given away AND also consign coins to GC, you want the GC website to have less traffic and a reduced possibility of someone stumbling upon your coins you have up for auction? Think!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
"Thinking process" is giving him an awful lot of credit...
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
I many times will click the link on the Auction Archives for CoinFacts so it takes me to the original auction website... so I can see the pictures / get some provenance.
A Barber Quartet is made up of Nickels, Dimes, Quarters, and Halves.
I don't agree
A Barber Quartet is made up of Nickels, Dimes, Quarters, and Halves.
I would remove GC and CAC from the list and your name to the top!
Mike
My Indians
Danco Set
GC is the one of the best things to happen in our hobby in years … maybe decades.
Dave
Why does cash have to be cold and hard can’t it just be warm and fuzzy. 😁
While he’s entitled to his opinion, according to the forum rules and guidelines, he’s not entitled to post them as he did.
“Posts must not contain libelous (accusatory, attacking) remarks concerning any individual, company, or other entity.”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Maybe he meant cancer in a good way...
I was focused on a few other things this past week and didn't keep up on this thread...
A cancer to the hobby??!?!!? At least he/she considers me in the same category as CAC.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Apparently the moderators did the right thing and wiped out that nonsensical post!
Thank you!
Steve
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
There is no reason why our hosts should include other than what they do (eBay prices realized). A very valuable, consistent reference for me. eBay probably the worlds largest auc house.
They use eBay auc prices realized . Which I consider fantastic plus more real world and realiable.
I find it very useful in development of proper retail pricing development on world slabbed coins which are much scarcer and less expensive than US. A huge opportunity in the world arena which is grossly underpriced a fantastic investment / retail area. eBay is a big pool of data for pricing research especially in areas where catalog support lacking like MS grades MS63 and above. In this way proper retail pricing can be achieved with many areas surpassing even keystone.