This is the Information Age, but I still have trouble finding information about...

MrEureka · March 28, 2007 10:51AM

When it comes to buying and selling coins, there's a ton of information available to help us make our decisions. Yet it's not always enough. What is missing? What do you need to know, and when do you need to know it?

TomB · March 28, 2007 10:54AM

What you need to know is the future and when you need to know it is the past.

Coxe · March 28, 2007 10:56AM

Very well put, TomB.

MrEureka · March 28, 2007 10:59AM

What you need to know is the future and when you need to know it is the past.

Yes, that would be helpful.

What else?

Pentimento · March 28, 2007 11:09AM

I finally got around to reading Freakonomics (because it is finally on audiobook) and when they were talking about Information Asymmetry, I had this very question.

Here is the first thing that jumped into my mind. "Freshness." I came very close to buying a coin today in an unfamiliar series, but backed off when I realized that I part of my attraction was coming from the fact that I hadn't seen the coin listed the last time I browsed around for coins in the series.

So call me dumb, but even in the age of easy to view auction results, plastic grades, and guarantees of authenticity, I think the "freshness" thing is easily manipulated and undetectable without a TON of research.

mrpotatoheadd · March 28, 2007 11:15AM

<< <i>What is missing? What do you need to know >>

I'd like the people at Krause to indicate in the SCWC where their pricing is based on reasonably solid data and where they're just pulling a number out of a hat.

coinkat · March 28, 2007 11:18AM

Die varieties... especially for world coins.

MrEureka · March 28, 2007 11:20AM

One of the things that is missing is that when you see an auction record, you don't know who the bidders were and you don't know how nice the coin was for the assigned grade.

IGWT · March 28, 2007 11:32AM

Most of what's lacking is on the demand side (at least from where I'm sitting). Who the bidders are doesn't matter so much to me, but I'd like to know the number of bidders on a coin at both the second and first increment below the hammer price. I'd also like some way to gauge demand for particular coins in specific grades sold privately.

bidask · March 28, 2007 11:41AM

I would like to know for example if there were a pop of 15 for a grade question is which are actually PQ for the assigned grade. Can't have them all there in front of me at once.

TwoSides2aCoin · March 28, 2007 12:07PM

I need to know who wants to start a syndicate so we can get laura to hold a paddle up for us , too

and I need to know NOW.

CaptainRon · March 28, 2007 12:17PM

The thrill of the knowledge gained by researching a specific coin or series is why I collect.

I look at finally purchasing a coin as my reward, for the endless amount of hours I spent researching that coin or series to find out what is the best quality coin I can obtain for the amount of cash I can afford.

I would not like the hobby if it was as easy as collecting DVD's, CD's. Where no thought is really involved, you just buy it, and play it, because someone said it was pretty cool, and they said goto Walmart because you can get it cheaper there.

This is one thing in my life that I'm actually glad it is not to easy, IMO, I would get bored with the hobby and spend the cash on something else.

Now when it comes to selling, boy I wish there was one of these:

MrEureka · March 28, 2007 1:30PM

I'd like to know the number of bidders on a coin at both the second and first increment below the hammer price. I'd also like some way to gauge demand for particular coins in specific grades sold privately.

Lou - Would that knowledge really impact your buy and sell decisions?

MacCrimmon · March 28, 2007 1:51PM

<< <i>I'd like to know the number of bidders on a coin at both the second and first increment below the hammer price. I'd also like some way to gauge demand for particular coins in specific grades sold privately.

Lou - Would that knowledge really impact your buy and sell decisions? >>

I think that decision would be impacted moreso by the degree kitchen remodeling.

MacCrimmon · March 28, 2007 1:54PM

I'd like to know exactly how many "real" MS65s PCGS had really graded, etc., etc. I don't care how many went up or down on a regrade, just how many of any given grade really exist.

Or, stated differently, if the POP says 20, are there really only 8 coins in existence.

IGWT · March 29, 2007 1:01AM

-- "Lou - Would that knowledge really impact your buy and sell decisions?" --

I think so. I collect in a couple very narrow (and far from popular) areas. The number of bidders still in the game at certain levels would help me understand where I stand in the mix of folks who want the coin. That information -- in conjunction with some other knowledge about past sales and collectors -- would help me to decide when it makes the most sense to go strong on a coin. At least that's the theory.

MadMarty · March 29, 2007 1:36AM

<< <i>When it comes to buying and selling coins, there's a ton of information available to help us make our decisions. Yet it's not always enough. What is missing? What do you need to know, and when do you need to know it? >>

You need to hire Laura as your numismatic consultant.

richardshipp · March 29, 2007 2:18AM

<< <i>One of the things that is missing is that when you don't know how nice the coin was for the assigned grade. >>

Quite true; lately I've started using Heritages Archives to help do research and you see the past sales. You see pricing all over the board for the same graded coins. It is after you click the link that you see why some of them were lower priced (Anacs Cleaned often). This works good until you go farther back in time and the pictures are gone.

Also, yesterday while purusing Stacks upcoming Auctions; MANY of the coins I wanted to see did not have pictures. I know its best to see the coin in hand; yet some of us can't get out to the shows like we'd like. I know I could ask a "dealer" to view the coins in hand and act as my representative; although most of my purchases are not that expensive and I would be embarrassed to ask for the help as it would likely be more of a bother to them than anything.

On the other hand I picked up my most recent Teletrade acquired piece from the Post Office this morning. The pics on Teletrade were horrible and I was taking a risk. This time the risk paid off as the coin is REALLY nice; sometimes it doesn't work out as well.

IGWT · March 29, 2007 9:25AM

I guess there's not too much that people need to know.

cladking · March 29, 2007 10:25AM

There may be no subject for which the net is a good source for research. If there
is it is probably a branch of medicine for which you need to be a specialist to under-
stand.

Even the most basic information can elude you on a wide variety of subjects. Little
original source material has been put on the net and even most texts and reports
aren't here. What is available is frequently impossible to find because search engines
are designed more for revenue generation than finding what you're looking for.

Perhaps in twenty years when AI is well developed and more info has been added
it will be a good research tool for something.

This is the Information Age, but I still have trouble finding information about...

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