Just started collecting need help

radu43

I'm trying to learn how to find out how much a coin is worth.
So here is my question.

This coin (1987-D Jefferson Nickel, PCGS, MS65 FS : eBay )

is on the PCGS price list 35$

but it sales on eBay for 5$+2$ shipping

Why is there such a big diffrence. Why can you find PCGS Nickels MS**FS for so much cheaper then the price list. What am I missing.

Thank you for your time,
R

ziggy29

I could go into a long song and dance about it, but if you're just starting out, please don't use eBay as a major source of your coins. It's way too easy to get burned and soured on numismatics over there. Educate yourself first, find local dealers and fellow collectors you can trust, and once you learn enough to avoid scams and ripoffs, *then* use eBay. Maybe fixed price lists from trusted sellers are one thing, but the free-for-alls are quite another.

kamehameha00

The PCGS priceguide is almost always off what a coin really goes for. Use it to get a ballpark figure of what it is worth compared to others.

kamehameha00
BTW,

relayer

Things are only worth what a willing buyer will pay a willing seller in an arms length transaction.


The PCGS price guide is not an accurate representation of what coins actually trade for. (Some more, most for MUCH less).

The idea behind the PCGS price guide is what a PCGS Dealer would like to get for that coin in a regular brick and mortar retail coin shop.

This gives them the ability to discount it from the PCGS list price and still make a ton of money.

radu43

How come you see so many PCGS coins under 30$ when it cost 30$ to grade a coin?

susanlynn9

Hey, Ziggy, almost didn't recognize you with your new face!

Radu,
Ziggy is absolutely right. I sell on eBay and I can tell you it is not the place for a new collector. Although there are many honest sellers, there are just as many scam artists.

To answer your question about the coin in question, there are a lot of Jefferson auctions running at any given time. The title bar is not the best one I've seen, which keeps the "hits" on the auction low. There are certain key words that should show up that aren't there. The other possibility is that it's a fluke. Some auctions just don't sell for what they should for no understandable reason. Also, the pictures are bad - the enlargements are even worse and pixelated. There are many reasons why this coin is sitting at $5.

Take some time to learn, buy lots of books, and learn how to differentiate between genuine and counterfeit coins. No matter how educated you become, there is still a risk involved. Please be careful.

Proofquarter

See what it sells for. Some coins are bid in the last few min.

Baley

How come you see so many PCGS coins under 30$ when it cost 30$ to grade a coin?

because some coins, despite the $30 grading fee, are still only $5 (or $1) coins.

some moderns in grades like 64 and 65 fit this description, although a common barber dime in G-4 would too.

mgoodm3

<< <i>How come you see so many PCGS coins under 30$ when it cost 30$ to grade a coin? >>



There are cheaper grading scales in the $15 range but the service os slower. Commonly someone lost money on the grading process for cheaper slabs. Buy cheap coins already slabbed so someone else looses the money on grading fees.

radu43

now how is that the person selling makes any money on celling a PCGS coin under 30$ do they just take a loss?

mgoodm3

Maybe they thought the coin was MS68 and it came back 65. They take a loss. Sometime collectors submit coin that aren't worth much despite the loss incurred.

relayer

There are different grading fee tiers (as low as $8 for a bulk submitter or $15 if you wait longer, $200 if you want it right away)

But in the plastics game you go for a high grade. If the coin came back as MS69FS it would be worth a lot.

In this case the submitter gambled, and lost.

What makes you think the Coin Dealing Industry is highly profitable for everyone?

tmot99

<< <i>How come you see so many PCGS coins under 30$ when it cost 30$ to grade a coin? >>



A perfectly good question. Keep this in your mind as a new collector. Many people get caught up in certification, they lose sight of this exact fact. Why bother certifying an 2001 Statehood quarter that grades MS64? If you haven't seen, PCGS and NGC offer a registry service. In theory, its the best of the best collections. People send in coins to try for the best grade possible. I can sell a whole roll of 2003 pennies for 50 cents and they are all nice and red, virtually mark free. Yet you can find them on eBay or elsewhere for $5-$15 certified.

Also, when looking for certified coins, stick to PCGS and NGC until you are familiar with grading. Those, although not always perfect, will be your safest bet until you learn for yourself how to grade. ANACS is also good, but things get more complicated because they will grade problem coins and just note it on the holder.

Be careful with PCGS price guides. Actually be careful with any price guide. They are a guide, not a manual. Coin Values is fairly accurate for most coins, although the greysheet should be consulted. The greysheet has wholesale pricing (dealer to dealer) and Coin Values is more retail pricing.

Proofquarter

When making an investment sellers cost are not a factor. Read and study all you can. Values can change anytime up or down. Look at the posts under OH MY today and everyone is guessing the value of the nickels.

richbeat

What they said. Welcome aboard!

richbeat

I just realized I welcomed you twice! (another thread)

Boom

There is a wealth of information to be gained right here among many knowledgable dealers. Relayer just gave you a very accurate answer. As for your second question, larger PCGS dealers and even some Gold and Platinum members know how to pre-grade their coins to set a minimum acceptable grade that allows them to get a bulk discount. The deal with that is 60% of what they send in must meet this minimum in order to obtain the lower rate.

I've also noticed your question in your other thread so I'll address that one by telling you to read these threads, read reputable Numismatic reference books, join the ANA and take their correspondence courses. Take your time to actually study rather than just fly or cheat thru a test because you would otherwise only be cheating youself.

Buy a jeweler's tray, a 5X and a loupe....a copy of Photograde also and set yourself up just like the professional graders here at PCGS with proper lighting and just practice your skills. You can never be too good. You can always continue to improve your skills by setting aside time to read and time to apply the manhours in order to attain and continually hone your grading skills.

Welcome and Good Luck!

Bunker

cladking

Welcome aboard.

BigAl

This coin (1987-D Jefferson Nickel, PCGS, MS65 FS : eBay )
but it sales on eBay for 5$+2$ shipping


Dude, this Item has not yet sold on Ebay, there are still 4 days remaining in the auction.

Most bidding will occur in the last few minutes of the auction, so determining value based on an auction still in progress will probably not yield very accurate price info. Click "refine search" and check "completed items" box to see past auctions.

Looks like one sold recently for $21 ($17.50 + $3.50 shipping)

btw, I wouldn't rely too heavily on the pcgs or any other price guide.

DesertRat

How come you see so many PCGS coins under 30$ when it cost 30$ to grade a coin?

I think that besides what others have said on this subject you have people that partake in a bit of speculation. In other words you have a modern that could grade PR69 but has a shot at PR70. the price jump between these two grades is steep. In some cases it is a difference of over a thousand dollars between a 69 and 70. Speculators will submit a proof knowing it will grade at least a 69 but hoping to get that rare 70 or pop 1/0. Lots of different reasons why people do what they do but I'm sure I'm not too far off on this aspect.

100proof1957

If you want to use the PCGS price guide,here is my rule of thumb,better known as an EWAG.

For PCGS coins (the ones we can afford) subtract 60-70% of the guide value

For NGC Coins " " subtract 70-80 % of the guide value

Example,I have a very nice 1957 Proof set (imagine that) in NGC holders,my total investment in the 5 coins is less than 50 % of the PCGS listed price for the Jefferson Nickel alone !
(this is where the PCGS guys /NGC haters chime in about my inferior coins,to them i say PLHHTPP or BS)

I have only been back in coins a short while and bought my share of crap.

Stay with PCGS and NGC for now,watch the EBAY auctions and Teletrade as well.

Do not shotgun your collection ! pick something you like and stay with it !

I kinda specialize in 57 Proof coins right now (go figure).

Proof

coinvac41

Welcome aboard. Like the other answers, learn all you can from as many sources as you can and practice, practice, practice. Be patient. I too am not too knowledgable about most of the coins. Read the threads on this forum and ask questions. I have asked some pretty basic questions and have never been talked down to. If these people can't answer your question or steer you in the right direction, the question is too far out in left field, like how many freckles on Aunt Fannie's fanny.
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