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how do collectors determine a price when ready to buy? (added one)
tahoe98
Posts: 11,388 ✭✭✭
...do they check auction archives?
...do they check the CDN sheet?
...do they check the blue sheet? (if buying slabs)
...do they look at various coin ads?
...do they ask a trusted dealer?
...do they ask a trusted collector?
...do they look at a current red book?
...all of the above?
...do they check the CDN sheet?
...do they check the blue sheet? (if buying slabs)
...do they look at various coin ads?
...do they ask a trusted dealer?
...do they ask a trusted collector?
...do they look at a current red book?
...all of the above?
"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
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I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
...as long as it conforms to recent auction or dealer sales records; I believe the seller knows what they are doing; I LOVE the coin; and I can afford it.
#2. "Coin Values" magazine.
#3. Quotes I've gotten from elsewhere.
#4. My own experience with prior sales I’ve seen, sales I have made and prior purchases.
#5. Red Book, especially for pre-1792 material.
#6. If it's so darn hard to find that I've not seen one for years, OR if I've been looking for years and not seen one or not seen one this good, I start using the illogical phrase, "That sounds reasonable."
<< <i>I just pay whatever the seller asks for the coin...
...as long as it conforms to recent auction or dealer sales records; I believe the seller knows what they are doing; I LOVE the coin; and I can afford it. >>
<< <i>I open my checkbook and read what is the amount listed.
...
1. My previous personal experience in the area.
2. Previous comparable sales at auction (Heritage for classic coins, ebay for modern coins, etc.).
3. My "feel" for what the price should be for the coin.
Since most of my coins are niche or specialty items, using some combination of the three gets me to the right price for me. I rarely use traditional price guides and have not looked at a Greysheet for a couple years.
<< <i>Auction archives are my #1 source followed by what other dealers are charging. >>
I agree with the above. Some dealers I trust enough that their prices will almost always tend to be competitive for the coin. Some dealers fall into the opposite group, that their price is almost always more than what I would want to pay.
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
<< <i>On most purchases, I go by three things:
1. My previous personal experience in the area.
2. Previous comparable sales at auction (Heritage for classic coins, ebay for modern coins, etc.).
3. My "feel" for what the price should be for the coin.
Since most of my coins are niche or specialty items, using some combination of the three gets me to the right price for me. I rarely use traditional price guides and have not looked at a Greysheet for a couple years. >>
Same thing for me and toned commems.