Kinda Confused
ognib
Posts: 78
OK, I'm new here. I posted once before and got alot of howdys. Thanks! What I'm confused about is buying/selling. I read so many posts that say be wary of Ebay and other online auctions but I saw another thread about selling that said use Ebay and other online auctions.
I have a Redbook and can't see where something that books for $80 is selling for $200. Must be supply and demand, or rather someone wants it really bad! I also see posted that a person needs to educate themselves before they start to buy but where do you start? This forum is a great resource if you need info on high grade coins. I inherited my dad's coins at his passing and so far my biggest 'hit' is an Indian Cent that I would call G4 for about $30. I found a couple large cents that are cool but they are very worn and probably only worth the copper they are made from. I have a few bank rolls of pennies that I figure are worth about 50 cents
until I look on Ebay and see what some rolls are going for. I am probably overlooking some things, he seems to have alot of certain years. Maybe I should just read on for awhile, hit a few shows and maybe get burnt a couple times. Then I would learn real fast!
Anyhoot, I think this is a great forum! Thanks!
I have a Redbook and can't see where something that books for $80 is selling for $200. Must be supply and demand, or rather someone wants it really bad! I also see posted that a person needs to educate themselves before they start to buy but where do you start? This forum is a great resource if you need info on high grade coins. I inherited my dad's coins at his passing and so far my biggest 'hit' is an Indian Cent that I would call G4 for about $30. I found a couple large cents that are cool but they are very worn and probably only worth the copper they are made from. I have a few bank rolls of pennies that I figure are worth about 50 cents until I look on Ebay and see what some rolls are going for. I am probably overlooking some things, he seems to have alot of certain years. Maybe I should just read on for awhile, hit a few shows and maybe get burnt a couple times. Then I would learn real fast!Anyhoot, I think this is a great forum! Thanks!
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Comments
Coinsheet
Jerry
Howdy again!
I would say there is no way other than just jumping in. However, you can take it slow on the buying and study, study, study. Get some books. Ask lots of "dumb" questions. Soak up the sun here on the boards. You will get a lot of help if you ask for it.
Got any toned coins!
And if there is a specific question for a specific person don't be afraid to PM them.
Jerry
<< <i>I read so many posts that say be wary of Ebay and other online auctions but I saw another thread about selling that said use Ebay and other online auctions. >>
Both posts are correct. Use eBay, but just be careful. (wary) If you are buying and it seems to be too good to be true, it probably is. Check the descriptions CAREFULLY and with a skeptical eye. Don't buy expensive, or raw without a GOOD picture. If you aren't experienced, don't buy raw period. Check the feedback on sellers, On higher value items use Paypal, credit cards and/or an escrow. In other words common sense.
As a seller, use good pictures, don't exagerate descriptions, set S&H levels fairly, ship promptly but not before you have good funds in hand. In short treat buyers as you would like to be treated. etc.
Specializing in 1854 and 1855 large FE patterns
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Pcgs has a price guide on their site (the prices are for PCGS grade coins) but it gives you another guide other then redbook (retail). Redbook is good for mintage figures and grading guidelines. Heritage also has a price guide on their site. But I would suggest going to "greysheet" web site and purchasing a short term, inexpensive subscription. This will give you the wholesale ask and bid prices. And I know you have heard it before, but never clean a coin!
Have a Great Day!
Louis
Rome wasn't built in a day. Keep at it, lots to learn and none of us will ever know it all.
<< <i> person needs to educate themselves before they start to buy but where do you start? >>
Whatever area you like, get a book and read. Whether it's Morgans, early half dimes, patterns, whathaveyou, there are books. The PCGS Guide to Coin Grading and Counterfeit detection is also great. Also, before you buy, check auction records and any other pricing history you can find regarding similar coins.
Specializing in 1854 and 1855 large FE patterns
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What's interesting, is that to a certain extent... the quality is a matter of opinion!
Liberty: Parent of Science & Industry