Bust dollars: are they underpriced by PCGS or do dealers overprice them?

BBN

I've noticed that the ebay BINs seem to sometimes be waaaay higher than the PCGS price guide price for each respective grade and date. Who's off on this? Dealers pricing them too high or does PCGS have them too conservatively priced? I've noticed this high price in dealers' website inventory too. Not just ebay.

nicetoning42107

Wasn't there a hoard of Bust Dollars released in California about 3 or 4 years back and the market is still trying to absorb them? I suppose the inconsistencies of the price guides indicate the different interpretations of how the market absorbed them/is still trying to absorb them.

LanLord

<< <i>I've noticed that the ebay BINs seem to sometimes be waaaay higher than the PCGS price guide price for each respective grade and date. Who's off on this? Dealers pricing them too high or does PCGS have them too conservatively priced? I've noticed this high price in dealers' website inventory too. Not just ebay. >>

If ebay AND dealers are pricing them higher than the PCGS guide, and people are buying them at that price, then that's the price they go for and the PCGS guide is wrong!

RedTiger

How many are being sold? That would tend to be the deciding factor in the answer.

I don't follow Bust dollar prices. However, if it is like other BIN coins, the competitively priced coins sell, and the overpriced, overgraded coins get relisted. Ever since Ebay reduced their listing fees for BINs (maybe eight months ago), there are more and more overpriced BIN coins cluttering up the listings. I've seen some coins in other series relisted ten or more times, at the same high over the current market price.

Perhaps once in a while, the would be sellers land a fish who either doesn't know the price, or is willing to pay more than the typical market price, and that these few fish are worth the small listing fees. Either that or Ebay pockets the small listing fee over and over, and the seller sits on their overpriced coins, oblivious that their asking price is way over the current market.

barbershopper

As for PCGS prices in their price guide, I've always heard they're too high, not too low.
As for ebay's BIN prices, they're just hoping they'll sell one out of ten listed.
That makes up for the fees on the ones that don't sell. JMHO.
JT

rld14

<< <i>them higher than the PCGS guide, and people are buying them at that price, then that's the price they go for and the PCGS guide is wrong! >>



Bingo!

Market sets pricing. Period. Same with me and cars, the "book" says a 40k mile 06 Sienna LE is worth $11,300 wholesale, good luck getting one for less than $14k at the auction. Ergo, $14k is market, $11,300 is fantasyland.