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Using the CU price Guide when selling non-PCGS coins..

abitofthisabitofthatabitofthisabitofthat Posts: 2,142 ✭✭✭
in U.S. Coin Forum
What do you think of a dealer who quotes the CU PCGS price guide while selling ATS (or other TPG) coins? It is just something that bothers me, and I am curious what others think. Can PCGS prevent this practice? Would they want to?

merse

Comments

  • SmittysSmittys Posts: 9,876 ✭✭✭✭✭
    even PCGS coins don't sell for CU Guide .... So what real use is itimage
    https://www.ebay.com/str/christyscoins
  • mozeppamozeppa Posts: 4,431 ✭✭✭
    pcgs mints coins?image
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    PCGS states in their price guide that the prices quoted are for PCGS Graded Coins only.

    Its the buyers responsibility to determine true value as a seller is pretty much free to quote any price they want. If it bothers you then all I can say is "Try to is get used to it" because there is nothing that can be done about the practice. Its not against the law to ask more for your product than what its worth.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • BearBear Posts: 18,953 ✭✭✭
    PCGS coins have been blessed by the MAN himself.

    As such they are to be valued" to the moon Alice".
    There once was a place called
    Camelotimage
  • PerryHallPerryHall Posts: 46,797 ✭✭✭✭✭


    << <i>PCGS states in their price guide that the prices quoted are for PCGS Graded Coins only. >>



    I guess they want everyone to believe PCGS coins are superior to all others.image

    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

  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    It ain't cool. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • shorecollshorecoll Posts: 5,447 ✭✭✭✭✭
    I think it's OK if it's ATS or otherwise respectable dealers, I think it sucks for 3rd world and generic e-Bay junk.
    ANA-LM, NBS, EAC
  • relicsncoinsrelicsncoins Posts: 8,103 ✭✭✭✭✭
    I could care less what source they quote. I'm going to pay what I think the coin is worth.
    Need a Barber Half with ANACS photo certificate. If you have one for sale please PM me. Current Ebay auctions
  • dohdoh Posts: 6,457 ✭✭✭
    I usually don't care what "price guides" say. The only time this practice bothers me is on eBay when sellers put "PCGS price $xxx" in their title to get more hits when they're selling other TPG coins.

    Positive BST transactions with: too many names to list! 36 at last count.
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭


    << <i>I could care less what source they quote. I'm going to pay what I think the coin is worth. >>


    image
  • PerryHallPerryHall Posts: 46,797 ✭✭✭✭✭


    << <i>I could care less what source they quote. I'm going to pay what I think the coin is worth. >>

    image

    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

  • garsmithgarsmith Posts: 5,894 ✭✭
    I don't even pay CU price for PCGS slabbed coins
  • SamByrdSamByrd Posts: 3,131 ✭✭✭✭
    its the same as using a tool catalog to price horses. raw and other tpg's are not PCGS.
  • Cougar1978Cougar1978 Posts: 8,759 ✭✭✭✭✭
    One of the basics of being a Coin Dealer 101 is to quote prices based on your price (or best price) based on your independent evaluation of what it is worth (current market conditions) considering many sources and what your willing to sell it for based on the cost of the coin.

    One can use an excel spreadsheet (internal analysis tool) and have a column for CU, CW, L&C, Krause, Redbook, and auction prices. Some people will take the excel =max(range) function to have the highest price reflected in a "Sell" column or "Market Value" column. Or you could average these. Doing this you can analyze prices based on many sources and recognize trends (one price guide consistently lower than another).

    PCGS states their price guide is for PCGS Coins only, so someone going around saying their non pcgs coins are based on the PCGS price guide is setting themselves up...not cool....I don't believe an experienced dealer would necessarily be going around saying his conis are based on x price guide. Everybody knows that price guides are not perfect and prices between price guides can vary - price guides B or C could show values higher than price guide A for the most part and then sometimes price guide A would show a higher price for certain pieces. Price guides like the CDN can have sudden drops. Saying "this coin is at CDN Ask" on Friday can leave the dealer in a bad position if there is a sudden drop, and updated CDN made available to the public, and the guy comes back on Saturday willing to buy the piece at the new lower price. An experienced dealer will describe the basis of his prices (if pressed) "my basis is what these are currently trading for in the market place" or "this is my independent opinion of its value based on my research of the market." The reality could be cost plus a 30% margin.

    I blank out the PCGS column (solid fill) on my spreadsheet for non PCGS coins. For my NGC column I simply input the values from my NGC collection manager (saves me time) and have the NGC column blanked out for non NGC coins.



    Coins & Currency
  • MowgliMowgli Posts: 1,219 ✭
    One well thought of dealer here on these boards often lists two coins with the same grade but one is NGC and the other PCGS and invariably they are priced the same. I also deal with one dealer who sells a lot of raw material. If someone insists on a coin being slabbed he will slab it but then raise the price (it graded the same as he had it). I think it his way of punishing people who buy plastic instead of coins. Anywho - PCGS has done a great job of making itself the preferred plastic but not everyone is enamored and a lot of people just look at the coins.
    In the land of the blind the one-eyed man is king.
  • tahoe98tahoe98 Posts: 11,388 ✭✭✭

    ...yikes! from 2009! image
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
  • DonWillisDonWillis Posts: 961 ✭✭✭
    PCGS Price Guide prices is for PCGS coins only. Using the PCGS Price Guide to sell other coins is an old game.


    Or as I heard a dealer say many years ago "show me the PCGS coin".

  • keetskeets Posts: 25,351 ✭✭✭✭✭
    I'm going to pay what I think the coin is worth.

    how do you decide what a coin is worth?? I suspect that you use some type of Price Guide, right??
  • keyman64keyman64 Posts: 15,527 ✭✭✭✭✭
    This thread is a blast from the past. The practice tends to annoy me, that being said, people can ask any price they like for what they are selling.
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭


    << <i>I'm going to pay what I think the coin is worth.

    how do you decide what a coin is worth?? I suspect that you use some type of Price Guide, right?? >>


    Auction records.

    Comparable pieces sold via dealer retail.

    And sure, price guides...but they are just guides. Use several to get an overall feel for the current value of a coin.

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