Older collector new to Forum
CUEBALL
Posts: 117
New to forum, but an older collector. I love coins, all coins. But I must confess, I like the older classics the best. I've been reading the forum for the past few weeks, and you seem like a great bunch of people. I learned a few things already. I have a question, that some of you might want to reply to. How much over the going rate is too much for a PQ coin? I have noticed that there are some coins, especially in the AU 55 - 58 category that are priced 50% over coin world trends value. I would like to hear what you think.
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The Ludlow Brilliant Collection (1938-64)
Is it possible that the Coin Worlds trends values are not accurate to begin with? That wouldn't be all that much of a surprise. What coins are you talking about?
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
My OmniCoin Collection
My BankNoteBank Collection
Tom, formerly in Albuquerque, NM.
Many times a nice AU-58 is much nicer than MS-62's or even MS-63, and it seems a growing
number of collectors are coming to believe this.
AU-58 coins which are true "sliders" that have virtually choice mint state eye appeal are generally market valued at around MS-60 or above prices, depending on the specific coin and the price jump from AU to mint state.
As an example I purchased the following PCGS AU-58 1883-S Morgan Dollar "super slider" a couple of months ago for $300 which is more than 2x the CDN Greysheet AU-50 Dealer Ask price, amd also $75 below the CDN Dealer Bid Price for an MS-60.
In my opinion, this coin has MS-63 eye appeal which is typically very pricey for an 1883-S Morgan...
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
Any general answer that we give you, without the benefit if having seen the coin in person, might be doing you a disservice.
It should also be noted that sometimes it is better to figure premiums in absolute dollar amounts rather than percentages.
In the majority of cases, the more common the coin and grade in question, the lower the premium should be. And, many buyers are more likely to pay hefty % premiums for lower value items than they are for higher value ones. For example, it's much easier for a coin that lists at $100 to bring $300, than it is for one that lists at $10,000 to bring $30,000.
Some PQ coins are worth only 5% ot 10% premiums, while others might bring (literally) multiples of the prices of non-PQ ones.
Sorry for not being able to "run the table" with my reply.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
If you have been lurking here for a couple of weeks, I guess you already know that you're going to like it here.
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etexmike
Glenn
<< <i>........................I've been reading the forum for the past few weeks, and you seem like a great bunch of people.......... >>
A few months, then we 'll all become a$$holes.
Cueball
Many 58 coins are great, however, buy the coin not the number on the holder. I have seen some au58 coins that rival MS65 coins, and I have seen some that weren't as nice as one would think.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Some look like virtual mint state gems, while others are just a bit above AU-55. I find that PCGS AU-58's are quite often very affordable high eye-appeal coins.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
and great pics. quickly. I too like Stuart's Morgan Dollar, it's about eye appeal to me. Notice
the minimal # of hits on Miss Liberty's face. I've seen some Ms-60/62s that look like she was
worked over with brass knuckles.
One question I have is are you comparing the AU58 price to a list of AU58's or just to a list of AU coins?
Obviously AU covers AU50, AU53, AU55, and AU58. It has been my experience that the price guides just give one AU price and seldom tell you which one they are actually pricing.
The other thing that I believe about AU coins particularly in relation to buffalo's is that a nice AU is far better than a MS60-63 coin. A good AU55 may have left the mint a MS66 and just had a little wear, but the MS63 probaly was minted that way, with a lousy strike, mushy lettering, no horn, etc.
Here is a link to an AU Buffalo I just bought on eBay. I have seen many MS63 coins that did not look nearly as good but that would sell for far more money. I will stick to the AU coins.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
<< <i>Obviously AU covers AU50, AU53, AU55, and AU58. It has been my experience that the price guides just give one AU price and seldom tell you which one they are actually pricing. >>
In the absence of information to the contrary, if a price guide makes reference merely to "AU" it is generally taken to mean AU50, rather than a higher AU grade.
I can't add much to what coinguy1 sez. I will say that in my area, a lot of the dealers will tell me that they price a really nice au58 at ms63 greysheet ask prices.
Coinhunter
<< <i>How much over the going rate is too much for a PQ coin? >>
welcome! here's the deal, & don't EVER forget this!
if you like the coin, if you really REALLY like it, then the price does not matter
be honest w/ yourself, consider that statement, then realize that for coins that you are attracted to, a few bucks is NOTHING to fret over. buy the coin, AND ENJOY!!!
K S
I agree with Karl's above quote from an earlier post, with the understanding that you can afford to purchase the coin with discretionary funds, and that the purchase price does not put you in any type of financial bind.
I'd also add that the purchase price should provide you with a commensurate amount of collector pride and ownership enjoyment, so that if you spend a lot on a specific coin, then you shoudl get a lot of enjoyment and gratification from it.
There are some coins that I pay $50 for, which give me many times that amount of enjoyment through examining them, checking them for varieties, and admiring their beauty using naked eye, handlens (loupe) magnification, and binocular microscope to examine different scale details of the coin such as date, mintmark, lettering. etc.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"