How do you value Draped Bust Halfs when there's a big gap between Greysheet and Price Guide...

lkenefic · June 9, 2023 3:03PM

I'm looking at Draped Bust Half Dollars and there seems to be a big gap between how Greysheet values these pieces versus PCGS Price Guides (which are higher). I'm also looking at recent sales in ebay and GC and they're not much help either.

MFeld · June 9, 2023 3:51PM

@lkenefic said:
I'm looking at Draped Bust Half Dollars and there seems to be a big gap between how Greysheet values these pieces versus PCGS Price Guides (which are higher). I'm also looking at recent sales in ebay and GC and they're not much help either.

I’d check the auction archives of other auction houses you didn’t mention.

TPRC · June 9, 2023 3:51PM

I almost always look to HA.com auction prices realized, then Stacks. full time dealers have better and more thorough resources, but prices realized in auctions are almost always your best resource.

Walkerguy21D · June 9, 2023 5:45PM

I’m going to guess, that like a lot of tougher material, not that many trade at sheet prices.
I’m sure a lot of dealers would love to buy nice original early Bust halves at Bid, but seldom get to.
Maybe JohnF will be along to share his insights.

I admit this prompted me to check CoinFacts, and was surprised to see what the mid grade coins are currently priced at. Of course they’re above the auction records, but even those are higher than what I anticipated.

This coin came out of an old collection housed in a National album, that Ed and Lance Hipps had just purchased. I was given the chance to buy any I wanted, at very nominal prices, and settled on this one:

lilolme · June 9, 2023 6:00PM

The pcgs auction prices realized has information from HA, Stacks, DL, Legend and others. Can also include eBay if desired. Link to the 50c Draped Bust general page and then clicked date-variety desired.

https://www.pcgs.com/auctionprices/category/draped-bust-half-dollar-1796-1807/1658

Also the pcgs price guide can be influenced by other things beside the APR's. This includes some dealer information as noted by the pcgs price guide page information below.

https://www.pcgs.com/prices

WHAT DO PCGS PRICES MEAN?

The prices listed in the PCGS Price Guide are average dealer asking prices for PCGS-graded coins. The prices are compiled from various sources including dealer ads in trade papers, dealer fixed price lists and website offerings, significant auctions, and activity at major coin shows. Dealer specialists and expert collectors provide pricing input. Remember that the prices are just a guide, a starting point for asserting value. Some PCGS coins sell for less than the prices listed and some PCGS coins sell for more than the prices listed.

So can also check to see if there are any 'pcgs' dealer offerings (some on coinfacts page using laptop version).

Finally click the pcgs price guide price to see the price history and if any recent moves up or down or around and around.
Below the 1805 in XF40

jacrispies · June 9, 2023 8:58PM

I use Ebay sales for common lower grade stuff and Hermann's AMBPR for higher end and better varieties. I have only been doing capped busts, but both resources include draped busts as well.

Cougar1978 · June 10, 2023 5:54AM

I have a spreadsheet with columns for various price sources (CF, NN, CPG, eBay seller, etc) including cost plus. Then I have a column where the @if function highest value listed there. I call that target sell but the reality is I may have to take less to move it. I also have pop data listed. It gives me a one page strategic overview. In auc bidding I make note of auc history range in addition to above plus MV. For things like graded world coins & currency where data elusive I may have a column for single digit / top pop tack on unless there is another seller source. Leaving yourself room for negotiation key.

What I sell for (online, shows ) is determined by ME. Sort of like the head FB coach determines the offense formation / strategy for the game vs the type of defense we are going to face. My goal realize a good enough markup which keeps the business afloat. Selling can be tough where your at a show competing w sellers that have everything under the sun. It helps have that low pop item they don’t have.

BustDMs · June 11, 2023 8:54AM

When buying real estate the price is determined by location, location, and um LOCATION.

With early bust coinages you have to first consider surfaces, surfaces and, yes, surfaces.

I rate my personal collection with ABC grades on the surfaces besides the grade information. I have speculated in the past that an A surface bust coin can be considered a minimum of a R5.

The commercial price guides should be considered as pricing a B minus coin but is also heavily influenced by the sale prices of the C coins. Personal, or independent professional, inspection of bust coins is highly recommended to avoid disappointment.

So, I believe the price differentials you see can, likely, be attributed to variables other than the technical grade. Remember, you also have to take the die marriage into consideration also.

Collecting early bust coinages can be a very rewarding experience but also can be exasperating if you are limiting your purchases to B plus or better surfaces.

Good luck with your collection. Just don’t bid on any I’m interested in buying!

Pnies20 · June 11, 2023 9:04AM

The above response is about as good of an answer you can get and I wholeheartedly agree.

pursuitofliberty · June 11, 2023 9:06AM

Masterclass, one post above me

Pnies20 · June 11, 2023 9:21AM

@pursuitofliberty said:
Masterclass, one post above me

Thanks. I know I’m pretty amazing.

pursuitofliberty · June 11, 2023 9:47AM

Hahaha Paul ... great minds Brother!

@BustDMs post is worthy reading for all Bust Half collectors, from Flowing Hair to Capped Bust

jacrispies · June 11, 2023 7:08PM

@BustDMs I like your strategy of rating the surfaces by letters. When I start to develop a decent quantity of halves, I'll keep that strategy in mind.

Walkerfan · June 11, 2023 8:31PM

I’d lean more towards price guide. I rarely get the chance to buy what I want at gray sheet prices.

BillJones · June 12, 2023 4:40AM

Nice early U.S. coins are mostly scarce and hard to find. The Grey Sheets prices are okay for common to fairly common material, especially items like “Walkers, Morgans and commems.” The prices for really scarce items are sometimes “dealer wish lists.” They would love to buy at those prices but seldom can.

When I was a dealer, over a decade ago, the Grey Sheet prices for early copper were way too low. You couldn’t buy anything at those prices unless it was really junky, which means the prices were just off. For those coins a discount off the listed retail prices was the real wholesale.

lkenefic · June 12, 2023 8:24AM

@BustDMs said:
When buying real estate the price is determined by location, location, and um LOCATION.

With early bust coinages you have to first consider surfaces, surfaces and, yes, surfaces.

I rate my personal collection with ABC grades on the surfaces besides the grade information. I have speculated in the past that an A surface bust coin can be considered a minimum of a R5.

The commercial price guides should be considered as pricing a B minus coin but is also heavily influenced by the sale prices of the C coins. Personal, or independent professional, inspection of bust coins is highly recommended to avoid disappointment.

So, I believe the price differentials you see can, likely, be attributed to variables other than the technical grade. Remember, you also have to take the die marriage into consideration also.

Collecting early bust coinages can be a very rewarding experience but also can be exasperating if you are limiting your purchases to B plus or better surfaces.

Good luck with your collection. Just don’t bid on any I’m interested in buying!

THANKS!! This explains a lot!!

UncleDano · June 12, 2023 9:04PM

I like the Great Collections auction archives. They go back many years, so you can see current vs past prices.

How do you value Draped Bust Halfs when there's a big gap between Greysheet and Price Guide...

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