Dealers who use PCGS/Other Price Guides in their auctions.
Tarmac
Posts: 394 ✭
Call it one of my pet peeves but this really frosts me!
I have maintained for a long time now dealers who tout price guide info use it as a tool to snare the unwitting. Sadly, there are 2-3 very prominent dealers [ANA life memebers no less] who do this.
They list a common coin with an inflated price guide value and try to pass it off as a 'savings' if they offer it for less.
Now here's an interesting twist. I list on ebay from time to time rare type coins that are seen maybe once or twice every 2-3 years at any auction venue. The price guides are totally unrealistic as to these coins values, there are just not enough open tranactions to determine the right price maybe?
Without fail when I list these coins I get a barrage of messages asking why the coin price is so much more than Coin World/PCGS/etc. price guides. I chalk it up to someone who does not know the series, newbie or just someone who is curious.
But after the Blue Moon Coin rip last week I started to think about all the collectors who really don't know what they are buying and assume if it's in the guide it must be accurate. If it's encased in ANY holder if must be accurate as well.
Is it any wonder why so many abandon the hobby, some returning only after decades?
I have maintained for a long time now dealers who tout price guide info use it as a tool to snare the unwitting. Sadly, there are 2-3 very prominent dealers [ANA life memebers no less] who do this.
They list a common coin with an inflated price guide value and try to pass it off as a 'savings' if they offer it for less.
Now here's an interesting twist. I list on ebay from time to time rare type coins that are seen maybe once or twice every 2-3 years at any auction venue. The price guides are totally unrealistic as to these coins values, there are just not enough open tranactions to determine the right price maybe?
Without fail when I list these coins I get a barrage of messages asking why the coin price is so much more than Coin World/PCGS/etc. price guides. I chalk it up to someone who does not know the series, newbie or just someone who is curious.
But after the Blue Moon Coin rip last week I started to think about all the collectors who really don't know what they are buying and assume if it's in the guide it must be accurate. If it's encased in ANY holder if must be accurate as well.
Is it any wonder why so many abandon the hobby, some returning only after decades?
0
Comments
I agree it is annoying to always see price guides refered to, especially when there is so much variance between them.
Such as?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It is unethical and worse are those who sell NGC/ANACS//ICG/NTC and quote PCGS price guide. It's no accident.