Is quoting PCGS market value for a coin misleading?

Max

There is a seller on ebay who quotes PCGS.com market values {when it benefits him} in practically all his auctions.

To the uninformed they would think that is the "going rate". He even states some coins are rare when there are hundreds in that grade.

As an example he will say a coin has only "2 graded higher" and put that in bold red letters. Yet when one looks at the pop report it has a 200/2 pop.

At times I think the buyers deserve to be ripped off for not doing their homework but it does appear to be unfair.

joejeweler

"Is quoting PCGS market value for a coin misleading?"

If i'm buying.....yes! If i'm selling....NO!

Joe T

Gerry

What's even worse is when a seller on eBay offers a ICG or some other non-PCGS coin and quotes the PCGS market value. For example,

Try this one!

BigD5

You know, unless he/she is lying, I don't see the problem. Ingenious marketing? I also think it's funny when an ngc or anacs coin is listed, with price comparisons to the pcgs price guide.

Gerry

Perhaps there’s only a fine line between ingenious marketing and disingenuous marketing

MrEureka

"Is quoting PCGS market value for a coin misleading?"

If someone offers you an ACG coin and he says that "the PCGS market value is $1000", that's fine.

If someone offers you an ACG coin and he says that "the published market value for the coin is $1000", that's NOT fine.

It's too bad that nobody has published a website listing eBay prices realized lists for ACG coins, comparing them to CDN bid. (It would be nice to be able to refer potential ACG buyers to that site.) Until such a resource exists, how can you blame ACG sellers for referring to other price guides? What else is there?

semicycler

On the home shopping network, they often quote "adds in national coin magazines". What they don't say is the magazines adds are for PCGS certified whereas they are selling 14K gold electroplated raw.

wallstreetman

NOBODY SHOULD PUBLISH ANY VALUES UNLESS THEY KEEP THEM UP TO DATE! The Grey Sheet included! Do your own checking!

nwcs

Well, considering there is no perfect price guide, I can't fault someone for pointing out a place that has a price guide. So I would say PCGS should not have a price guide if they are not going to try to keep it current. But that is my opinion. But the seller can certainly point it out. I have no problem with that. At some point, the buyer assumes responsibility to make a wise purchase!

Neil