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Pricing Question
drysideshooter
Posts: 37
Hello,
I am very new to the coin world. I have subscribed to the grey sheet and have surfed the entire PCGS website, as well as NGC and about everything I can reasonably find. I am afraid it has left me feeling somewhat confused.
I am very interested in double eagle's and own a few already. The grey sheet lists the type III MS63 as $1810 bid and $1865 ask. It does say that is the pricing for the most common dates. So how do I go about calculating the value of something like a 1906-S Double Eagle, PCGS graded at MS63? Looking at the values on PCGS (I subscribed) shows it around $3,000. I see them on sites like eBay for quite a bit less than that. Looking at Coinfacts I see some one sold in late 2011 for $2,395 on eBay. At least I am assuming that is a sold price, and not just a listed price with no sale. Numismedia.com lists the fair market value at $3,170. If I was to sell on eBay I believe I would pay the max $100 sales fee, and then probably 2.9% to PayPal.
How do sites like PCGS and Numismedia.com come up with their values? I can't find evidence anywhere that anyone is actually paying the prices quoted there. I would like to sell my 1906-S but have no idea how to determine it's real value range, and what the best avenue would be for selling it?
Any advice or information would be genuinely appreciated.
I am very new to the coin world. I have subscribed to the grey sheet and have surfed the entire PCGS website, as well as NGC and about everything I can reasonably find. I am afraid it has left me feeling somewhat confused.
I am very interested in double eagle's and own a few already. The grey sheet lists the type III MS63 as $1810 bid and $1865 ask. It does say that is the pricing for the most common dates. So how do I go about calculating the value of something like a 1906-S Double Eagle, PCGS graded at MS63? Looking at the values on PCGS (I subscribed) shows it around $3,000. I see them on sites like eBay for quite a bit less than that. Looking at Coinfacts I see some one sold in late 2011 for $2,395 on eBay. At least I am assuming that is a sold price, and not just a listed price with no sale. Numismedia.com lists the fair market value at $3,170. If I was to sell on eBay I believe I would pay the max $100 sales fee, and then probably 2.9% to PayPal.
How do sites like PCGS and Numismedia.com come up with their values? I can't find evidence anywhere that anyone is actually paying the prices quoted there. I would like to sell my 1906-S but have no idea how to determine it's real value range, and what the best avenue would be for selling it?
Any advice or information would be genuinely appreciated.
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With eBay you are paying fees which if you have a non store account they are capped @ $100 and then you paypal fees @ 2.9 % would be roughly another $70 and then the cost to ship. So you are basically paying out $200ish dollars to sell on eBay. You might want to consider using the BST's (Buy, Sell, Trade) board right here. You might be able to work a deal outside of eBay and save a bunch of fees.
Jeremy
The prices for the common dates of these coins are quite sensitive to the price of gold bullion. The rarer dates are harder to price because some of them are seldom traded. The best places to look for prices there are the major company auction sites, like Heritage. Running though all of these comments is that some coins, even in the same slab grade are better than others. The high pieces bring more while lower in pieces sell for lesser amounts.
I know this sounds confusing, but if you are going to get involved with the better dates, more study beyond the Gray Sheet amounts is required. For common dates, the Gray Sheet does provide some baselines.
I never consult grey sheet. The only time it ever comes up in discussion with a dealer is when he is trying to justify a lowball buy price.
I don't agree that PCGS's price guide is always high. There are many series where it seems quite the opposite. The same can be said for most price guides.
PCGS has a video explaining how their price guide is maintained. Someone may have the link. In a nutshell David Hall says prices are updated periodically based on sale prices at bourse tables and auction results. Everyone always stresses it is just a guide.
In time you will know your series well enough to predict value. And you can always ask here. Lots of friendly, helpful folks ready to tear apart your beloved coins. JK.
Lance.
I did not subscribe to the quarterlies, but it sounds like it may be worthwhile?
I am not sure I was doing the math correctly, but on the front of the grey sheet is has that box of "Coin Dealer Newsletter Certified Coin Market Indicator. For PCGS it shows an average of 81.12%. I took that to mean that the actual selling price of a coin would be that percentage of the listed PCGS value. I am not sure that is the right way to do that, but doing that for my 1906-S puts the value very close to the $2,400 that you listed. Am I doing that right?
Thanks for the thought on the BST board, I may very well give that a try. I have a 100% rating on eBay (non-coin items) and the same on gunbroker.com, so hopefully someone would be comfortable doing a transaction.
There is obviously a whole lot to this and I have a lot to learn. I believe it will be fun and educational though.
I have a chance to pick up another 1906-S Double Eagle, PCGS graded MS63 for $1,950. Would that be a pretty good deal? It's in an older slab with a light green label. From what I can tell the slab is from 1995-1998.
The same person has a 1904 Double Eagle, NGC graded MS63 for $1,900, but the above 1906-S seems to be to be the real value?
Yes I would jump at that for $1950
I don't have any good pics of the coin unfortunately.
No Way Out: Stimulus and Money Printing Are the Only Path Left
You will also be surprised how many coin collectors are also shooters.
Our family is really, really in to firearms of all types. I have an FFL and my son and I both shoot competitively in addition to hunting and just shooting for fun. My son is especially in to vintage military stuff.
I've bought a few coins over the years when something struck me or I thought it was a good deal, and we have bought some silver. Lately I've been thinking that coins probably make a lot of sense for us to look in to more seriously. Like guns, old coins are cool, and for me the ones that have numismatic value in addition to the metal content seem appealing. I talked with a dealer from a neighboring state today and his take was that right now coins that are a small premium over melt value are the rage as people are most concerned with capturing some gain with the increase in gold prices. He thinks that coins with numismatic value are out of kilter right now and should be worth more than what they are currently bringing. He believes that eventually they will get back into a more historical range with the price of gold and should do quite well. I would be REALLY interested to hear any of the veteran collectors here opinions on that.
Other than double eagles, what other coins would you consider a good investment right now? Are any of the silver coins particularly appealing? What about things like Buffalo Head Nickels?
Than you very much for any and all advice. It is genuinely appreciated.