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NEW PCGS PRICE GUIDE (FOLLOW-UP)
Steve
Posts: 3,313 ✭✭✭
in Q & A Forum
David, if I may, I would like to follow-up on the answer you gave me last week concerning the PCGS price guide.
You said " It's been my experience that most people prefer one price, and one of the problems with the current pricing structure of the rare coin market is that there are too many different prices and price sources".
I agree with you, but as I said last week, it is almost impossible to come up with a single price that most people will accept and/or agree with. I believe people relate pricing to the specific coins they own. They want to see what THEIR collection is worth. If that is the case, then their coins are worth what they can sell them at auction or to a dealer or other buyer. That is generally considered wholesale pricing. Your current price guide is a retail listing and I'd expect that is what you plan to continue publishing. That is all OK, but I really hope you will specifically define what the prices represent in the marketplace. I had suggested a low-high range for each coin to better give the reader a reasonable "buy-sell" idea of value, but if you really plan to separate yourself from the other guides out there you will need to identify to the reader exactly what the numbers mean. Otherwise, each reader will draw his own interpretation. You will need resources to maintain this price guide accurately over time. I would be expecting to pay a reasonable amount if it is good. If it is "free", then I would expect to get exactly what I'm now getting from all the other coin price guides. Good luck on this project and thanks for reading.
Steve
You said " It's been my experience that most people prefer one price, and one of the problems with the current pricing structure of the rare coin market is that there are too many different prices and price sources".
I agree with you, but as I said last week, it is almost impossible to come up with a single price that most people will accept and/or agree with. I believe people relate pricing to the specific coins they own. They want to see what THEIR collection is worth. If that is the case, then their coins are worth what they can sell them at auction or to a dealer or other buyer. That is generally considered wholesale pricing. Your current price guide is a retail listing and I'd expect that is what you plan to continue publishing. That is all OK, but I really hope you will specifically define what the prices represent in the marketplace. I had suggested a low-high range for each coin to better give the reader a reasonable "buy-sell" idea of value, but if you really plan to separate yourself from the other guides out there you will need to identify to the reader exactly what the numbers mean. Otherwise, each reader will draw his own interpretation. You will need resources to maintain this price guide accurately over time. I would be expecting to pay a reasonable amount if it is good. If it is "free", then I would expect to get exactly what I'm now getting from all the other coin price guides. Good luck on this project and thanks for reading.
Steve
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Hi Steve,
I'll look at our definitions and explanations and make sure they are specific as possible.
Thanks,
David