When is buying a PCGS graded coin a good buy?
Fairlaneman
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Through the years I have always wondered what actually is a Good Buy for a PCGS slabbed coin that is decent for the grade and not a dog. Please give your ideas. Price Guide Price, 10% back, 20% back or more.
Thanks.
Ken
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Comments
It all depends on the coin.
Depends on the coin. For good eye appeal and overall look I have no problem paying PCGS priceguide, maybe more but within reason. But then again I don't usually buy with the intent to resell any time soon.
Collector, occasional seller
Depends on the coin and dealer. In my experience, 10% back is okay, 20% back is great.
Non-widgets -10%
Widgets -25%
Dave
It all depends on the coin and the eye appeal. Also keep in mind that any guide is just that, a guide, not a bible.
The guide helps gets you on the road. It’s up to you to figure out where you want to go.
The adventurer in me likes to go in uncharted territory.
"When is buying a PCGS graded coin a good buy?"
When you get a great coin.
In honor of the memory of Cpl. Michael E. Thompson
If you still like the coin 3 days later. Luster,strike, eye appeal.
I've seen wide-open questions before, but WOW.
It depends on:
Silly question with no answer.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Well, the answer is,
I know it when I see it.
I guess when you buy a coin you just throw the money at it and its done. Am I correct.
Ken
No, but there's no generic answer. A good buy on an MS-64 1881-S Morgan $ is very different than an MS-65 Booker T. Washington Half $ is very different than an MS-66 $20 Liberty.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Be careful, very careful if you are using that logic on modern coinage. Many, many millions were struck and I wouldn’t be surprised if there are many more decent ones sitting in coin albums.
Numismedia Fair Market Value can be a good starting point. I would only pay NGC or PCGS price guide if it is a knockout coin that stands on its own merits.
How about your coin is protected from the outside elements.
Buying PCGS Sight-seen coins at PCGS Sight-unseen (Blue Sheet) prices. That is a good deal.
I understand that many prefer PCGS holders, but remember always buy the coin NOT the holder.
I consider the PCGS price list as a guide. It all depends on the quality of the coin, the rarity, etc. The guide is in my opinion the average for that grade of coin. The coin falling within that grade can vary considerably, so as they say it all comes back to buy the coin, not the grade or label.
Although, a little bit flip, the above is probably the best answer.
I've seen nice AU58 coins at twice PCGS guide. I wouldn't buy them. I opine; No value in an AU 58 for twice retail find a nice EF. I've found nice EF coins at 35% below PCGS guide. I recently bought a PCGS MS 65 Hawaiian that CAC'd NO problem from a retail dealer for 65% of guide wholesale dealers were willing to pay cash for it 'immediate sale' offers included a nice profit to me.
Repeat: Although, a little bit flip, the above was probably the best answer.
Regards, Have fun, have history and art and culture brought to you by coins. Get out and visit the places those coins come from and have traveled. Sol
Maybe up to 200% - 300% of Price Guide for some nice quality coins in the US Phillipine series. Ex. Justin bought the first year 1903 Proof Peso in PR68 grade as the icon coin for his company. Price Guide - $5,000. Justin paid multiples of that price for the coin and I think he got a “smokin” deal. He could sell the coin at a great profit tomorrow if he wanted to.
You see... there is no % of the Guide one should pay. One should learn his/her series and pay what needs to be paid for the coins.
Just my 2 cents.
Wondercoin.
...if you buy low and sell high, your a dealer...if you buy high and sell low, your a collector...if you buy high and try and sell high then your higher than me
Personally, I think a "Good Buy" is when I acquire a coin that I really like at a price I can live with. There is no hard and fast formula beyond that for me. Sometimes I pay over guide, other times less.
Now, if you are asking, "what is a price I can make a profit on?" this is an entirely different question. In all cases, I begin by consulting PCGS CoinFacts for a snapshot of PCGS Price Guide and recent auction returns for any given issue. Since no two examples of any issue are actually identical in all facets, this is merely a starting point for me. For example, an 1883-CC Morgan in PCGS MS66 with fabulous toning might sell for multiples of a blast white one. How can you compare them? From there, I apply my own opinion as well as market trends to try and establish what I "think" a fair price is for the coin I am researching. Honestly, I don't know how anyone could use a percentage as a rule of thumb. On some coins, if you are paying even 25% back of guide you are getting killed based on many of the auctions I have tracked this past year. On others, the guides lag behind the prices I am seeing for the coins I want. Try to buy NICE early Large Cents or Bust Halves at guide prices. I think the only way to accurately get a sense of any coin's market price in the modern world is to look at auction returns. Those are ACTUAL sales numbers from real transactions. Just my 2 cents.
For what I buy, I ignore price guides and look at auction results as a starting point.
"Seu cabra da peste,
"Sou Mangueira......."
If it’s sonething you really want price should not be a factor unless you think it’s unreasonable vs CW Trends, etc. which are fair prices to pay. Remember coins which are PQ can trade above these values.
If your going for low balling the seller expecting buy at wholesale I question if you want it anyway or should be buying material period.
If it’s a coin you want and at decent price vs MV it should be heck yea decision. If CAC these trade considerably above non CAC.
If it’s not heck yea decision then maybe pass. The market has not shown any material signs of recovery. Thus could be a good time to buy however.
.........When you can crack it out and get an upgrade.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I've seen coins that weren't worth buying no matter how low the price (apart from them being so cheap it would be free money to buy and flip it). I've paid many multiples beyond what a price guide or prices realized list would indicate a coin is worth because the coin in question was fantastic. It doesn't matter whose holder the coin is in, it matters how great the coin is.
Yes, there are times you can buy a coin and it's so cheap it's like getting free money if you just want to sell it, but if your goal is the keep the coin, you buy it when the coin is of superior quality, and for that the price guides are, at best, guides.
Take a look at any high grade coin auction results. When you look at the huge disparity between results for the "same" coin in the "same" grade, you will have your answer.
Many scarce and rare seated dates (especially quarters) can't be bought for anywhere close to price guide. Some things just don't get researched and updated.
In my case, it is a good buy, if I buy it..... I would not purchase it if I did not consider it a good buy.... and many things contribute to the decision. Cheers, RickO