Coin Pricing Question???

smiles72

Yes I am new here.

What is the most widely accepted method of pricing on coins from week to week. I find my self depending on the PCGS website a lot.
Is this wise? It seems the Redbook would be obsolete most of the time. Am I wrong?

I am looking for some advice in this area.

Where should I look for a coin value?
JM

Placid

I use auction results. Heritage,ANR,Teletrade,eBay.

Sequitur

This topic has been discussed extensively. Execute a search for "price" and "guide" and you'll have a wealth of information.

granddad

Welcome. You can go to www.greysheet.com and buy a single copy or a subscription. Next best thing is to go to a book store a buy the Coin World's "Coinvalues" magazine once a month. You should get some other good advice here from others members too. It is a great forum.

Good luck,
Louis

smiles72

I have been using the Coin Value Magazine recently. Is this a good idea?
I know how to perform a search on the website. Thanks.
I am more interested in what the current up to the minute feel is.
JM

Myqqy

Many people feel that the pcgs pricing guide is completely inaccurate for many series- many folks use the greysheet and recent auction prices......

lordmarcovan

<< <i>I find my self depending on the PCGS website a lot.
Is this wise? >>


Not wise if you rely on it exclusively. But it IS convenient, and can be useful at times. Take it with a big grain of salt, though. It is not widely respected as a price guide, except maybe by scam artists who like to quote PCGS prices for PCI coins. I do refer to it... because it's there!



<< <i>It seems the Redbook would be obsolete most of the time. Am I wrong? >>


No, you would be right. The Redbook lags way behind. But it too has its uses. And it was THE book for so long that a giant portion of the collecting public still uses it (and the Blue Book, for wholesale prices). I have gone back to using it, myself.

The Greysheet is what is used by most professional numismatists, so I am not going to steer you away from its recommendations made by others. But it's relatively expensive, and I hate it. You can't find anything in it. Or, to be fair, maybe I should say I can't find anything in it. I hate the way it's laid out.

Another good online reference is Numismedia.

Others use closed auctions as indicators, but that seems rather tedious.

Oh, and lots of folks use Coin World's trends section.

The bottom line is, in my humble opinion, that there is no ONE source. Use 'em all. Pick the ones you like. Who cares if it is up to the minute or not? If you are just an average collector, or even a small-time dealer like myself, there is no law that says you have to march in step with everybody else. Obviously, you don't wanna take a hit in your pocket. But don't be scared. You've already made one good move, just by joining up here.

kranky

I believe you need to use different sources depending on the coin. For circulated non-key coins, the Red Book or Coin Values will be pretty close because those prices are pretty stable. For expensive proof or uncirculated coins, the Heritage, ebay and Teletrade auction archives. For proof sets or Morgan dollars, the Greysheet.

What kind of coins are you interested in?

Steve27

In addition to what has already been said, look at eBay auction results as well. The PCGS price guide tends to be over 200% of the value realized on eBay for modern coinage.

Steve

If you really think about it, the value of a specific coin is what someone will pay for it. No price guide can tell you that. If you are searching for prices in general, the first thing you need to determine is are you looking to buy. If so, you need a retail price. If you are looking to sell, you need a wholesale price. Is the coin valuable, like a key date? If so, then there are additional points to take into consideration. I don't want to make this sound too complicated, but the bottom line is the value of any given coin depends on what it looks like to the person you are dealing with and yourself, and then a bargining occurs. Of course, there are also auctions, EBAY, etc which bring other factors into play. Good luck. Steve