So how does one go about pricing modern coins?
Stooge
Posts: 4,668 ✭✭✭✭✭
I currently own a 2016-D MS68FB Roosevelt Dime, which I purchased for the low price of $60.67 delivered. Now usually dimes in an 8FB gor for decent money, ($200-$300 depending on the pop) but this coin was started at a low price and went through a 7 day auction so the current market dictated price. I felt fortunate enough to win it.
Perusing eBay, I noticed that there are currently 5 different auctions for this same coin and the prices are all over the place. Here are the prices:
$170.05 - Free Shipping
$179.95 - Free Shipping
$269.50 - $2.75 Shipping
$390.00 - Free Shipping
$585.00 - Free Shipping
Now when I bought my example the pop report showed 16/0. Now the report shows 20/0.
I would love to know what goes into the pricing of modern coins for some of the sellers. Are they just waiting for a chump to come along, or are they adding into the financial burden of finding the coin, submitting it to PCGS and covering all costs.
Any thoughts?
Later, Paul.
Comments
I think it depends on the seller. Some are pricing relative to previous auction results. Some are pricing relative to their own costs. Some are pricing based on a song and a prayer. You will always find odd prices, even for common widgets with easy to determine market values (GSA dollars, common date Morgan dollars, U.S. proof and mint sets, etc.)
Most eBay asking prices are way too high. The sellers are looking for "a live one". Make sure you are never the "live one". This is not the time to be generous when buying collectibles like coins, especially moderns with ever growing pop numbers.
Even if you sort lowest value and shipping, the lowest is always overpriced. If you cast your line 1000 times, you'll eventually get a bite.
Modern coins, outside of errors or varieties, are a gamble...even at 68FB...there are many out there and many more will be slabbed. So, early on, prices are high and profit is made...later, those who paid those prices, will be holding a coin that will never return the investment. Of course, for collectors, it may be worth it... not for those who sell coins once the market becomes flooded. Cheers, RickO
I simply list them BIN usually around TPG price w free shipping or possibly 10 pct discount off CW or TPG MV. Some may be BIN / make offer with auto reject around 70-80 pvt MV.
Irregardless since it costs me around 17 pct of sales to operate on eBay material is marked up enough above cost cover that plus afford me decent commission / profit.
asking prices mean nothing. Search completed sales for what buyers are actually paying.
Exit bunker, enter Matrix. LOL
I suggest look at sales history on ebay and other auction venues like great collections. Fantasy prices are more common then not with modern coins. What are they asking is not relevant what they are selling for is the key factor.
Face value + Bullion + shipping + cup of coffee = pricing.
The suggestion of looking through the "completed sales" search history on ebay is a good one, but this may turn up more coins that didn't sell than that did sell. That information can be valuable in that you might have a better idea as to what price level is too high, yet you may not know what is actually appropriate. To further fine tune your search you may want to specifically look through the "sold" history on ebay since this should only turn up items that were either sold via BIN or auction and will leave out fishing expeditions. Lastly, you may use the PCGS CoinFacts site to go through the auction history for the issue to see if there is anything useful from that angle.
Good luck.
In honor of the memory of Cpl. Michael E. Thompson
Yes, doesn't a "sold" listing show every listing from the dealers who have relisted coins that haven't sold in the last 5 years?
Some of my unsold auto relist items show as "sold". No idea why it does this.