100% Accurate price guide
brccoins
Posts: 302 ✭
I would like to see a price guide that is always 100% accurate and always up to date. For example; If someone took the 5 most recent sales of a certain coin from various venues and average them out together you might come up with $348.29. This, in my opinion would be accurate buyers guide and I would be willing to pay that price. All of the price guides I've seen would probably state $450-500 for that same coin. Useless information as far as I’m concerned. I think this idea would be an invaluable tool.
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Comments
I'm afraid that a 100% accurate guide is a dream.
sometimes
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I'm afraid that a 100% accurate guide is a dream.
<< <i>Text >>
I agree a that 100% accurate system is a dream (I though it was a good title to get attention). However, a system like this would be far more advanced than anything I've seen thus far. Yes, some coins are overgraded and bring a low price, but the opposite is true as well. It averages out. As for coins that don't trade very often this tool would be even more valuable. Some coins I've tried to buy I cannot find one that has sold for the life of me. This would be of great benefit to the buyer in my opinion. Coin values change constantly and todays price guides do not keep up. The Red Book is published once a year.
never will be let alone ever come close
<< <i>100% Accurate price guide >>
100% oxymoron
<< <i>It still seems like the price guides DON'T EVEN TRY to be accurate. >>
They don't. They take what the coin is selling for and tack on 20% to make the dealers happy. The uninformed buyer is grossly overpaying if they follow their information.
with his cold dose of reality.
Camelot
I will never pay more than 1.4X the price guide for a monster toned Barber or Seated Liberty coin.
I will never pay more than 5 to 10X the price guide for a monster toned Peace dollar.
I will never pay more than 2X the price guide for a monster toned Bust half (one with great natural looking color).
I don't even bother with outrageous toned moderns; sometimes they bring in 100X list. It's a madhouse in that market.
Get the picture?
<< <i>I will never pay more than 2X the price guide for a monster toned Bust half (one with great natural looking color). >>
Very "astute" buying plan. One that should be followed by everybody. Heh
<< <i>I wish I could fly
sometimes
They talk about that alot on the
Open forum. It's usuually chemically
enhanced. I'd like whirled peas, I saw it
on a t-shirt once.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i> I agree a that 100% accurate system is a dream (I though it was a good title to get attention). However, a system like this would be far more advanced than anything I've seen thus far. >>
Actually the system you describe is somewhat how the better prce guides ARE supposedly compiled. From the results of recent auctions and floor trades reported at shows.
<< <i>Yes, some coins are overgraded and bring a low price, but the opposite is true as well. It averages out. >>
I seriously doubt they would average out very well, and it can still easily result in a none accurate guide. (Remember you're claiming 100% accuracy here.)
<< <i>As for coins that don't trade very often this tool would be even more valuable. Some coins I've tried to buy I cannot find one that has sold for the life of me. This would be of great benefit to the buyer in my opinion. >>
But if you can find no current prices, possibly because there are none, the only thing your guide can show is the last price from however long ago it last sold and that will most likely be WAY off fromwhat the next one will bring.
<< <i>Coin values change constantly and todays price guides do not keep up. The Red Book is published once a year. >>
Agreed, that's why you need to use a guide that is compiled more frequently. Among even lightly experienced collectors the Redbook is considered a joke as far as pricies go, and has been for at least a couple decades. (Back in the 50's and early 60's it worked better because prices usually didn't change that quickly.)
<< <i>Condor always has to intrude our fantasy
with his cold dose of reality. >>
Sorry about that.
Don't forget the dealer friendly 20% icing on the cake that throws everything off and renders all information virtually useless to buyers.
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
<< <i>I would like to see a price guide that is always 100% accurate and always up to date >>
Possible only for widgets. As such, it would be called the "100% accurate widget price guide - a guide for wannabes"
<< <i>These discussion points are meaningless. Each of us has his OWN opinion of what a SPECIFIC coin is worth sight seen. NO price guide can possibly provide that information. >>
Nailed.
Russ, NCNE
I agree that for many coins a price guide is useless. But I do believe there is a way to accurately price the majority of coins. Not every collector goes off of a coins looks either. As long as the 1881-s morgan says ms66 on the holder like they paid for they are happy. There is nothing wrong with that. I believe coins should not only be purchased out of love for the hobby, but they should also be considered an investment. That being said investing requires tools and accurate information, tools and accurate information that I do not beleive exists in adequacy at this time.
You have e-bay which I would never buy from, books, past auctions, price guides themselves for averages, past sold over a 10-15 year period, newsletters, forums, your budget etc...that should be plenty to make an educated , informed decision.
I'm saying that this information does not exist in a price guide. I know it is out there. It's just not in one single place that you can go and quickly get what you are looking for. It took me 15 minutes and 4 sources to find a closed auction for a coin last night.