am i missing something or did i just get a GREAT deal

crzybob77 · February 15, 2006 12:36PM

I am rather new and a lot of you have been a great help with clarifying things for me. As suggested, I just picked up The Survival Manuel from Travers so I can try to be a smart collector. Anyway, I was browsing ebay and came by and incredible deal that I could not pass up. I got a 1959-D Franklin Half Dollar graded MS65 from PCGS. Both the Red Book and the PCGS site list this coin at $150. I payed $66 with shipping. As I am new I feel susceptible to missing a detail and getting screwed over on something. I have never seen a graded coin like this go for so far below listed value. Just wanted to run this by you guys to make sure that i did in fact get an insane bargain or am i missing something. Thanks for your help. Heres the link.......

Item # 8382633355

Ebay Link

Russ · February 15, 2006 12:38PM

You paid about what it's worth, maybe even a bit too much.

Russ, NCNE

crzybob77 · February 15, 2006 12:55PM

so if it is worth about the 60 bucks i paid for it, then why the heck is it listed for 150, i mean i figured those prices could be a little off, but i didnt know there would be coins that are worth less than half what they are listed for in both red book and PCGS.... a little explanation here would be greatly appriciated

CarlWohlforth · February 15, 2006 12:57PM

The prices in the Red book are collected from dealers at printing time. They reflect what a dealer thinks (or maybe hopes) he can sell coins for in the coming year. They are not very useful except when comparing dates. You can tell that a particular date is more valuable than another in the same grade if it has a higher price in the Red Book.

It seems to me one can frequently find coins on eBay that cost less than what is listed in the PCGS price guide. I see many 1959-D Franklins in MS 65 FBL at less than $100. The FBL (Full Bell Lines) designation is valuable and adds quite a bit to the cost.

The good news is the coin you bought is certified by PCGS. So it is likely to be accurately graded and if not PCGS will guarantee the grade. Most new collectors I know start with buying some no-name slab with a spiffy grade on it thinking they got a great deal only to find out the coin is worth way less than they paid. Fortunately this is not the case here.

Russ · February 15, 2006 12:57PM

<< <i>so if it is worth about the 60 bucks i paid for it, then why the heck is it listed for 150 >>

Because the price guide is wrong. In many cases, very, very wrong. For Frankies it tends to be way too high.

Russ, NCNE

MikeJessie1 · February 15, 2006 1:03PM

Crzybob, pay attention to Russ on those Franklins. He wont steer you wrong. Youve taken a giant step in asking for help here. These guys may seem alittle crass at times, but only GOD Himself knows more. They've helped me ALOT! Welcome aboard!

Russ · February 15, 2006 1:04PM

<< <i>but only GOD Himself knows more. >>

AKA Lucy.

Russ, NCNE

morgannut2 · February 15, 2006 1:06PM

To get up to date prices--go thru similar sales at Ebay on Moderns, or the Heritagecoin.com archive for older stuff's sales history. On Frankies, the Full Bell Lines designation is very important as is the grade in relation to the points in the PCGS Registry. If you think PCGS prices are off-- look at NGC auction sales verses Pcgs auction sales at Hertiage for silver Washington Quarters. Anyone for 1/5 the value in the same MS66-67 grade??

robertpr · February 15, 2006 1:11PM

The PCGS Price guide supposedly lists average dealer asking prices, in other words high retail. You will not pay high retail on coins on eBay nor will you get high retail selling on eBay. You will likely not even pay high retail walking into a shop, unless the dealer really rips you. Most dealers asking such prices would be expecting a negotiation and thus purposely be starting high, and the PCGS price guide reflects that fact.

You'd be better off looking in the past auctions to guesstimate price ranges. Even better than that is the auction history on Heritage, which is also good (and free).

Oh, and the red book sucks too. I honestly have no idea why people buy it.

MikeInFL · February 15, 2006 1:16PM

From my purchasing of Franklins, I average about 50% of the PCGS price guide.

Please note that I purchase almost exclusively MS 64 FBL coins, so my pricing data may not be directly reflective of a 65 coin.

It looks to me like you did OK, but not a bargain...Mike

CarlWohlforth · February 15, 2006 1:21PM

<Oh, and the red book sucks too. I honestly have no idea why people buy it>

I love the Red Book! It has grading guidelines, photos of coins, mintage figures and more. There really is a lot of good info there. The pricings figures don't help much though, they are only useful as a relative measure of value.

BigE · February 15, 2006 1:26PM

How do we know these priceguides are wrong? Maybe half the collecting world pays this and we are all just living in Cheapskatesville

-------------------------BigE

Myqqy · February 15, 2006 1:46PM

Welcome to coin market values reality........

100proof1957 · February 15, 2006 1:52PM

Bob,

Ignore Russ unless he wants to talk about A Kennedy Half !

Heres the real truth about Frankies !

Pcgs price guide is BS. 40-50 % is about right for a PCGS coin,usually 30 % is closer !

NGC coins should sell for 15-20 % of guide,bout 40 % tops.

Keep in mind this is for very common crap only and smoetimes you will have to pay 100% or more for tougher coins !

Ex: just paid 41.00 for a Frankie that was in the guide @ 180.00

EX: just paid 1000.00 for a certain coin that was 975.00 in the guide

Moral of the story is, Do the homework !

Proof

100proof1957 · February 15, 2006 1:55PM

Aboard !

Russ · February 16, 2006 2:04AM

<< <i>Bob,

Ignore Russ unless he wants to talk about A Kennedy Half !

Heres the real truth about Frankies !

Pcgs price guide is BS. 40-50 % is about right for a PCGS coin,usually 30 % is closer ! >>

I said the same thing, dipstick.

Russ, NCNE

MadMarty · February 16, 2006 2:13AM

Also keep in mind PCGS and NGC designate FLB differently. PCGS uses only the bottom set of bell lines and NGC uses both the top and bottom set of bell lines.

Jcarney · February 16, 2006 2:55AM

All of the price guides, including CDN, are too high on the Franklin series. Heck, I'd sell my whole set at 10% back of bid in a heartbeat.

Conder101 · February 16, 2006 6:28AM

<< <i>so if it is worth about the 60 bucks i paid for it, then why the heck is it listed for 150, >>

You found what you were missing! The PCGS price guide can't be trusted.

BlindedByEgo · February 16, 2006 6:34AM

Yeah, but is it toned?

oh, and

itsnotjustme · February 16, 2006 6:52AM

Welcome to the boards!

You can learn a tremendous amount here. And you can do much of it by search old threads. DMPL, Coin Dealers by name, Cheerio Sacs, Accent Hair, 1972-P Ike Types, proof morgans, Full Bell Lines, Full Head. Fully Split Bands, third party grading services etc. If there is a question, it had already been asked and answered!

curly · February 16, 2006 7:00AM

Welcome to the board crzybob77. Be very careful with e-bay. As I am sure that there are some good deals, there are also some traps. Some of those birds are very adept at picture taking and wording so that you will believe that they don't know what they have. They look like an easy mark....soooo.....you bid. Later, that can't miss coin becomes a ball and chain.

You're OK though, $66 isn't too bad a beating as long as you aren't looking to turn a quick profit. Just be careful, e-bay is loaded with monsters and I don't mean coins.

100proof1957 · February 16, 2006 7:05AM

FWIW

i just bought 2 FBL Frankies based on price and crap pix on the BAY

Was really suprised how much nicer they were in hand.

Not to mention it was a ZERO feedback seller !

I know " DUMBAZZ !"

They were MS65 FBL PCGS slabs,wasnt worried bout the grade,just the delivery.

They came in monday !

am i missing something or did i just get a GREAT deal

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