Which price guide to use?
Russell12
Posts: 735 ✭✭✭✭✭
I am making a spreadsheet, so whom ever I leave my collection to will know what it's worth (thankfully, it's not imminent). I am trying to figure out which one to use. I'm looking for a "general" value so they would have a guide to sell at. Would it be the Greysheet, the Redbook Quarterly, PCGS/NGC website values, Coin World website values, eBay sold, etc.?
0
Comments
I like the idea of a spread sheet and all. Its just an idea but how bout that and an appraisal of some kind?
PCGS Coinfacts, some of the prices are a bit "inflated" but it does a good job of general pricing
eBay recently sold is a good idea for pricing too so that you know how much coins actually go for
Greysheet is good but you have to pay for it, right? (I don't use it so I wouldn't know
)
"Another day, another Collectors Universe forum scrolling session."
- Someone, probably
There's no single answer. It depends on the nature of the material.
All comments reflect the opinion of the author, even when irrefutably accurate.
I use purchase prices or PCGS list. More importantly I school my executor on how to liquidate the collection most efficiently and what to actually expect. It’s important for your heirs not to get screwed, but also important for them to be realistic and understand the vagaries of the coin market.
If you’re not going to use auction archives, which I understand, as it would be far more cumbersome, I recommend CDN. I feel that generally, it’s the most accurate price guide. However, I’d supplement it with PCGS and/or NGC price guides.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Whatever one uses, keeping the inventory updated can be unrealistic if one has an extensive collection. The best price list can be out of date very quickly, witness the recent run-up of precious metals. Again, educating an heir is most important.
CDN?
Coin Dealer Newsletter aka Gray Sheet.
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
“Greysheet” (formerly? “Coin Dealer Newsletter”)
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have two parts of my collection. A set of all Whitman album (everything except a Morgan album) s, mostly full. Also my PCGS AU50 or better Type Set
Is that the approximate value dealers would buy at?
NumisMedia Online Collector FMV Online Price Guide works well for me.
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
In many cases, yes. But no matter which major price guide is used, there will still be a large number of coins that sell for both much higher and much lower prices.
As a side note, I wouldn’t recommend the “Redbook Quarterly” that you mentioned, or any other guide that, based on its publication date, you know in advance, is likely to have many outdated prices.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I would suggest CDN bid / CPG.
Redbook quarterly published by Greysheet? Greysheet is monthly, Redbook Quarterly is quarterly, isn't quarterly pricing good enpugh?
I use ebay sold prices unless it's something very 'thinly traded'.
That’s up to you. Whether a dealer or collector, buying or selling, I’d want to make use of current prices. For some coins, that can be far more important than for others.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If you want to try a more simpler approach why not pick a reputable auction house like Heritage or Great Collections.
Leave instructions that they are contacted and the collection gets consigned and sold to the highest bidder.
Have the contact info ready to go and I am sure they will guide whoever is the executor as to how to get the collection to them safely.
Let the market deceide the value at that time which I hope is a long time from now.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP
Given that he has raw Whitman albums, this is probably not a good idea. It's fine for the AU50 type set.
All comments reflect the opinion of the author, even when irrefutably accurate.
Why don't you just list the options available along with the contact information of one or two trusted dealers and/or collectors who could help with the estate?
In honor of the memory of Cpl. Michael E. Thompson
Find a dealer you can trust for the album material and provide the contact info to your executor. Not many practical options for an uninitiated heir.
I have been leaving updated copies of my PCGS Set Registry Inventory showing my cost and "Current Market Value" in my safe deposit box to give my heirs a general idea of what my collection is worth.
Totally agree. Even a spreadsheet can cause more trouble than you'd think if it's not updated regularly. For common date raw coins, using a retail price guide will give faulty information to the heirs.
All comments reflect the opinion of the author, even when irrefutably accurate.
Guides are merely guides. One set price at a certain grade level can mischaracterize the value for a premium coin and inflate value for mediocrity. For your purposes, your heirs might be better served with a price range with a notation as to quality or any special trait the coin may have.
Experience the World through Numismatics...it's more than you can imagine.
Just saw a photo of your collection on another thread. Dude, you have got to involve a trusted dealer in your estate planning. You can’t put that on your relatives if you want to be remembered fondly.