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100% Accurate price guide

I would like to see a price guide that is always 100% accurate and always up to date. For example; If someone took the 5 most recent sales of a certain coin from various venues and average them out together you might come up with $348.29. This, in my opinion would be accurate buyers guide and I would be willing to pay that price. All of the price guides I've seen would probably state $450-500 for that same coin. Useless information as far as I’m concerned. I think this idea would be an invaluable tool.
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Comments

  • Go to Heritage history and do the math yourself?image
    morgannut2
  • I would like an ex wife who didn't take half of my stuff ... well, at least half of the stuff that she knew about :-) On that note, CC DMPL Morgans are great!!!
  • Who examines all of these coins to make sure the descriptions and grades are accurate? If a coin is overgraded and brings a low price it throws off your guide. Who makes sure that all of the sales actually take place? If the sale is to a shill, or is returned your guide is off again. What about coins that don't trade hands very often?

    I'm afraid that a 100% accurate guide is a dream.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    I wish I could fly













    sometimesimage
  • I think there is no 100% accurate price guide existed.




  • Who examines all of these coins to make sure the descriptions and grades are accurate? If a coin is overgraded and brings a low price it throws off your guide. Who makes sure that all of the sales actually take place? If the sale is to a shill, or is returned your guide is off again. What about coins that don't trade hands very often?

    I'm afraid that a 100% accurate guide is a dream.

    << <i>Text >>



    I agree a that 100% accurate system is a dream (I though it was a good title to get attention). However, a system like this would be far more advanced than anything I've seen thus far. Yes, some coins are overgraded and bring a low price, but the opposite is true as well. It averages out. As for coins that don't trade very often this tool would be even more valuable. Some coins I've tried to buy I cannot find one that has sold for the life of me. This would be of great benefit to the buyer in my opinion. Coin values change constantly and todays price guides do not keep up. The Red Book is published once a year.
    image
  • michaelmichael Posts: 9,524 ✭✭
    100% Accurate price guide


    never will be let alone ever come close
  • ERER Posts: 7,345


    << <i>100% Accurate price guide >>



    100% oxymoron
  • It still seems like the price guides DON'T EVEN TRY to be accurate.


  • << <i>It still seems like the price guides DON'T EVEN TRY to be accurate. >>



    They don't. They take what the coin is selling for and tack on 20% to make the dealers happy. The uninformed buyer is grossly overpaying if they follow their information.
    image
  • BearBear Posts: 18,954 ✭✭
    Condor always has to intrude our fantasy

    with his cold dose of reality.image
    There once was a place called
    Camelotimage
  • foodudefoodude Posts: 3,552 ✭✭✭
    The most accurate price guide is the one you develop yourself by looking at various price guides, auction results (including looking at the actual coin that sold), and actively attending more more coin shows a year throughout the couintry than there are days in the yearimage ... Well at least then a price guide might be in the ball parkimage
    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
  • Price guides are worthless when it comes to the types of coins I collect.

    I will never pay more than 1.4X the price guide for a monster toned Barber or Seated Liberty coin.

    I will never pay more than 5 to 10X the price guide for a monster toned Peace dollar.

    I will never pay more than 2X the price guide for a monster toned Bust half (one with great natural looking color).

    I don't even bother with outrageous toned moderns; sometimes they bring in 100X list. It's a madhouse in that market.

    Get the picture?
  • stmanstman Posts: 11,352 ✭✭✭✭✭


    << <i>I will never pay more than 2X the price guide for a monster toned Bust half (one with great natural looking color). >>



    Very "astute" buying plan. One that should be followed by everybody. Heh
    Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭


    << <i>I wish I could fly













    sometimesimage >>






    They talk about that alot on the

    Open forum. It's usuually chemically

    enhanced. I'd like whirled peas, I saw it

    on a t-shirt once.






  • << <i> I agree a that 100% accurate system is a dream (I though it was a good title to get attention). However, a system like this would be far more advanced than anything I've seen thus far. >>


    Actually the system you describe is somewhat how the better prce guides ARE supposedly compiled. From the results of recent auctions and floor trades reported at shows.



    << <i>Yes, some coins are overgraded and bring a low price, but the opposite is true as well. It averages out. >>


    I seriously doubt they would average out very well, and it can still easily result in a none accurate guide. (Remember you're claiming 100% accuracy here.) image



    << <i>As for coins that don't trade very often this tool would be even more valuable. Some coins I've tried to buy I cannot find one that has sold for the life of me. This would be of great benefit to the buyer in my opinion. >>


    But if you can find no current prices, possibly because there are none, the only thing your guide can show is the last price from however long ago it last sold and that will most likely be WAY off fromwhat the next one will bring.



    << <i>Coin values change constantly and todays price guides do not keep up. The Red Book is published once a year. >>


    Agreed, that's why you need to use a guide that is compiled more frequently. Among even lightly experienced collectors the Redbook is considered a joke as far as pricies go, and has been for at least a couple decades. (Back in the 50's and early 60's it worked better because prices usually didn't change that quickly.)






    << <i>Condor always has to intrude our fantasy

    with his cold dose of reality. >>


    Sorry about that. image
  • Actually the system you describe is somewhat how the better prce guides ARE supposedly compiled. From the results of recent auctions and floor trades reported at shows.

    Don't forget the dealer friendly 20% icing on the cake that throws everything off and renders all information virtually useless to buyers.
    image
  • SteveSteve Posts: 3,313 ✭✭✭
    These discussion points are meaningless. Each of us has his OWN opinion of what a SPECIFIC coin is worth sight seen. NO price guide can possibly provide that information. The best solution for everyone would be if a PRICE RANGE guide was developed which showed a low price (wholesale) and a high price (retail) amount. Then each of us could decide THEMSELVES what the coin was worth based on seeing it. Heritage has the best idea with their price list for members. Steveimage
  • BigAlBigAl Posts: 1,134 ✭✭✭


    << <i>I would like to see a price guide that is always 100% accurate and always up to date >>



    Possible only for widgets. As such, it would be called the "100% accurate widget price guide - a guide for wannabes"
  • Pay what you think it's worth, within your budget, from some diligent research in books & on-line through the tools available and be happy with your purchases.image
  • RussRuss Posts: 48,515 ✭✭✭


    << <i>These discussion points are meaningless. Each of us has his OWN opinion of what a SPECIFIC coin is worth sight seen. NO price guide can possibly provide that information. >>



    Nailed.

    Russ, NCNE
  • << These discussion points are meaningless. Each of us has his OWN opinion of what a SPECIFIC coin is worth sight seen. NO price guide can possibly provide that information. >>

    I agree that for many coins a price guide is useless. But I do believe there is a way to accurately price the majority of coins. Not every collector goes off of a coins looks either. As long as the 1881-s morgan says ms66 on the holder like they paid for they are happy. There is nothing wrong with that. I believe coins should not only be purchased out of love for the hobby, but they should also be considered an investment. That being said investing requires tools and accurate information, tools and accurate information that I do not beleive exists in adequacy at this time.
    image
  • Totally disagree BR, you have all the tools you need that are available to all of us as consumers, you just have to take the time and maybe a few dues to join memmberships to get a better picture.

    You have e-bay which I would never buy from, books, past auctions, price guides themselves for averages, past sold over a 10-15 year period, newsletters, forums, your budget etc...that should be plenty to make an educated , informed decision.image
  • Abaco24,

    I'm saying that this information does not exist in a price guide. I know it is out there. It's just not in one single place that you can go and quickly get what you are looking for. It took me 15 minutes and 4 sources to find a closed auction for a coin last night.
    image
  • Cool, I agree, it doesn't take much but to ask that's its all in one place is like asking Google to be in a book.

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