Pricing Guides - Who can you trust?
jmcu12
Posts: 2,452 ✭✭✭
Which price guides do you trust the most and why? While pricing, like grading, is subjective which guide is the most accurate?
Are some guides better for certain situations? I.e. shows, auctions, e-bay, retail.
Grey Sheet?
PCGS Online?
Heritage Coin?
Coin World Values Online or in print?
Red Book?
Are some guides better for certain situations? I.e. shows, auctions, e-bay, retail.
Grey Sheet?
PCGS Online?
Heritage Coin?
Coin World Values Online or in print?
Red Book?
Awarded latest "YOU SUCK!": June 11, 2014
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Comments
<< <i>Who can you trust? >>
Your own judgment. Use any or all you wish, and make up your own price based on your own decision. Obviously, you'll wanna base that decision on as much information as you can get. The sources you listed are all good.
I subscribed to the Greysheet last year so I could "be on the same page with everyone else", but when I started using it, I realized I hated the way it was laid out, and I certainly didn't need a new one every week. I also discovered that "being on the same page with everyone else" is not all it's cracked up to be.
Blaze your own trails, but pay attention to the market.
In the end, I went back to the Red Book and Blue Book. Some will snicker at me for that, no doubt, as the Red Book prices are far from up-to-the-minute, but the books are simple to carry around, and I sell circulated bread-n-butter collector coins, most of which are under $100. Just a cut above flea market material, for the most part, though I do occasionally sell some gold and nice high-end slabs.
My clientele primarily use the Red Book, and I sell it at my mall booth. So I thought I would try to be on the same page as THEM, rather than the other dealers. Of course, if I see Redbook is lagging behind in something, I'll make adjustments. I just wanted to keep it simple.
Bottom line is, the bottom line. Who cares what the books and trends say if you can resell a coin you bought and make a profit on it?
<< <i>Are some guides better for certain situations? I.e. shows, auctions, e-bay, retail. >>
Probably, but that's a matter of personal choice, too, I suppose.
<< <i>While pricing, like grading, is subjective which guide is the most accurate? >>
Depends on what you mean by "accurate". There might be no such thing. Two factors I would consider are: one, how up to date the information is, and two, how recognized the resource is. I chose to sacrifice some timeliness (don't need daily updates anyway), for recognition. Most everybody knows the Redbook.
For the most part, inflated. For small purchases, I'll take a quick peek at it, apply a discount, and usually do nothing else.
If you're zeroing in on a more substantial piece, I'd set up an account with Teletrade. Search their past auctions - I think you can search a year or more of past auctions. (Actually I like Teletrade, as you can find some nice coins there.) Also do a Heritage and Ebay check. Those three will give you a pretty good idea of what's happening in the market for your coin.
If you're trading rare monster coins, Heritage is the place to start, but that's just a start.
Are some guides better for certain situations?
Yes. See above. If you have PQ coins, consult a trusted dealer.
Heritage is OK for some issues but on less frequently traded issues it can really be off.
(Heritage claims that a G4 1872-S Quarter should be going for around $350; I'll buy as
many as they want to sell at $500)
I agree that looking at recent auction prices is the best way to get current value.