Simple questions from a newbie to the veterans...

chaze215 · June 26, 2008 11:29AM

1. What price guides do you go by when buying and selling? Whether it be on Ebay, BST or any other site.

2. For the Dansco 7070 fans(I just started one), how long did it take to complete your album? And did you have a minimum grade for your album?

3. Besides Ebay and the BST here, what other sites do you use and/or recommend?

Thank you for any info provided to me. Just getting my feet wet and want to start out on the right foot.

Chaz

LanLord · June 26, 2008 11:33AM

<< 1. What price guides do you go by when buying and selling? Whether it be on Ebay, BST or any other site. - check past auction closes on ebay
2. For the Dansco 7070 fans(I just started one), how long did it take to complete your album? And did you have a minimum grade for your album? - never finish, always upgrading
3. Besides Ebay and the BST here, what other sites do you use and/or recommend? - no opinion here

Thank you for any info provided to me. Just getting my feet wet and want to start out on the right foot. Chaz >>

harvey85422458 · June 26, 2008 11:35AM

Grey sheet
NO 7070
CoinZip

bolivarshagnasty · June 26, 2008 11:44AM

Chaz, I use multiple price guides/ auction results to determine value. Those include Grey Sheet, Coin Values mags, PCGS price guide, Heritage Archives, Teletrade Archives. I would recommend DLRC (David Lawrence Rare Coins) Heritage Auctions, and Teletrade Auctions as possible alternatives to Ebay. The experienced feed on the inexperienced out there, so beware. Do lots of research and study before parting with your hard earned money. Shag

Dawg144 · June 26, 2008 11:52AM

1. I use the PCGS price guide and the Red Book to get ballpark estimates, but use Ebay, Heritage, Teletrade and sometimes dealer websites to refine a price range.

2. My 7070 is about a year and a half old and 2/3 done. The wide variety of seated material is taking me awhile. I try to buy the best quality coins that I can realistically afford, and that I don't have any problems with keeping raw. That said, the lowest grade coin I have currently is around G-6 (the Classic Head large cent). This may be a bit abnormal, but I also like to look for less common dates and die varieties, which often interferes with my ability to find better condition coins.

Edited to add: Happy collecting!

chaze215 · June 26, 2008 12:00PM

I have a RedBook and also go by completed auctions to get an idea of price. I have heard from others to go by NGC or Grey Sheet or Blue Sheet.......how do you get these price guides? Do you have to join something to get them?

Chaz

GFourDriver · June 26, 2008 12:06PM

Started my 7070 in March and it's more than 3/4 finished. I've tried to stay in the AU to MS range but have dropped down to EF-40 on some of the tougher dates. All the gold is AU58 to MS-63...just need the $20 Lib to finish the gold page.

TomB · June 26, 2008 12:09PM

Go to the Greysheet website and buy the sample pack for $13.95 or whatever they are charging these days and you will be set for months. The Bluesheet is generally worthless except in the case of grades for coins where no one else has a listing. There is also Numismedia where you can access some free listings, but others you have to pay to view.

I have been working on my Dansco 7070 for at least five years and have it perhaps 40% complete with original coins that range from VF30 to AU55. It is a slower and more expensive proposition to build the set this way then to simply cram coins into the slots.

lcoopie · June 26, 2008 12:18PM

Chaz

if you PM me I will send you a grey sheet from last month, for free
so you can see what it is

Lester

coinbuf · June 26, 2008 12:30PM

1) I use; ebay closed auctions, Heritage archives, grey sheet, these will bracket jjust about any avg coin cost. From there decide if the coin is high, med, or low for the grade and bingo I have my target price.

2) Many of the 7070 coins can be found quickly and easily(the modern stuff), but finding good seated, early copper and bust material is what makes an eyeapealing 7070 time consiuming.

3) Any site that has good coins

; lol, this depends on the kind of coin I'm looking for. Some dealers really know their copper but are not as good say with seated material, say I'm looking for IH or flyers I'd look at Rick Snow's inventory first.

Chris

morganbarber · June 26, 2008 12:49PM

Not exactly an answer to your first question, but the most important thing I have learned is this. When I was inexperienced, I would often buy coins at below whatever price guide I was using said the coin should be. I bought a lot of ugly coins thinking I was "beating" the guide price. The coins I am proudest to own are ones where it was worth paying over guide price for exceptional coins.

vplite · June 26, 2008 12:52PM

<< 1. What price guides do you go by when buying and selling? Whether it be on Ebay, BST or any other site.

2. For the Dansco 7070 fans(I just started one), how long did it take to complete your album? And did you have a minimum grade for your album?

3. Besides Ebay and the BST here, what other sites do you use and/or recommend?

Thank you for any info provided to me. Just getting my feet wet and want to start out on the right foot.

Chaz >>

Great questions. I won't address your question #2 because I don't do Dansco 7070. I'll let more experienced forum members answer #3.

I too am relatively inexperienced, but am hopefully learning. For prices, I take a look at the PCGS guide, just as a starting reference. For the series that interests me most, Morgans, they often run high, somewhere between reality and Coin World, but are a "quick and dirty" starting point. On certain individual coins they can be too low. If you are serious about collecting, I would focus on the one series that interest you most, and learn all you can.

This forum can be extremely educational. I've lurked on one other US coin board and found it to be just OK.

Remember it can take years to really understand a series. Maybe a lifetime.

Ebay is a decent place to start following auctions. It costs you nothing to watch for a few weeks or months. I would strongly suggest you study and especially only buy PCGS and NGC slabbed coins Definitely only consider slabbed 1. PCGS and 2. NGC coins if you're spending more than XF or AU common date money on ebay.

There are good and bad ebay sellers. I look for good return privileges and 100% feedback. Read the feedback of a seller whose coin interests you. Are buyers generally happy? If feedback is below 100%, see why. Some buyers are bad too.

I like to look at the Heritage auctions, and the individual coins sold, for a more "real world" guestimate. Join Heritage, it's free, and look at a lot of coins and the prices. Look at the medium sized and huge pictures of each of the coins sold, and decide what floats your boat. You will see, for instance, some MS64 coins you love, and some you would not want to own. Some collectors like "toners" and some blast white semi proof like. It's your time and money. Decide what grade or range of grades interests you and fits your budget.

For me, BST and Teletrade have been somewhat less educational, but definitely worth watching.

There are plenty of other sources for learning, and I suspect from your question you've started looking at ebay and Heritage, so I would say you're on the right track.

Good Luck!

chaze215 · June 26, 2008 1:28PM

Thank you all for the information and insight. I have learned a lot on here over the past few months.

Here is another question regarding Ebay: I bid on a coin @ the last second (literally). So after the auction ended(and I was outbid), I checked the bids. It said my bid went in @ the exact ending time of the auction, yet the coin was sold to another bidder whose bid was placed over a minute BEFORE mine. How can this be? I understand the other bid was higher, but is the system that quick or am I missing something?
Just wondering.

Chaz

smokincoin · June 26, 2008 1:32PM

<< Thank you all for the information and insight. I have learned a lot on here over the past few months.

Here is another question regarding Ebay: I bid on a coin @ the last second (literally). So after the auction ended(and I was outbid), I checked the bids. It said my bid went in @ the exact ending time of the auction, yet the coin was sold to another bidder whose bid was placed over a minute BEFORE mine. How can this be? I understand the other bid was higher, but is the system that quick or am I missing something?
Just wondering.

Chaz >>

Yeah...it's that quick!

lcoopie · June 26, 2008 1:39PM

i am not sure about this

but perhaps you have to bid before the ending time

vplite · June 26, 2008 2:05PM

<< Thank you all for the information and insight. I have learned a lot on here over the past few months.

Here is another question regarding Ebay: I bid on a coin @ the last second (literally). So after the auction ended(and I was outbid), I checked the bids. It said my bid went in @ the exact ending time of the auction, yet the coin was sold to another bidder whose bid was placed over a minute BEFORE mine. How can this be? I understand the other bid was higher, but is the system that quick or am I missing something?
Just wondering.

Chaz >>

I believe you lost because the winning bidder placed a maximum bid higher than yours. Even if you bid was exactly the same as the winners, the earliest bid gets priority. At least that's the way I understand it.

I wouldn't really sweat losing an ebay auction; like buses and girls, there will always be another coming along.

Edited to add: I just checked my ebay activity for the past month - I lost 59 and won 5. I lost at least one by $1 or less. And that is just fine. As has been said before, there is nothing sold on ebay that you cannot live a full and happy life without.

PrivateCoinCollector · June 26, 2008 2:09PM

<< 1. What price guides do you go by when buying and selling? Whether it be on Ebay, BST or any other site.

2. For the Dansco 7070 fans(I just started one), how long did it take to complete your album? And did you have a minimum grade for your album?

3. Besides Ebay and the BST here, what other sites do you use and/or recommend?

Thank you for any info provided to me. Just getting my feet wet and want to start out on the right foot.

Chaz >>

1. Graded, then the PCGS site. Raw the Grey sheet.

2. After I decided to raid my other Danscos to fill the holes about 20 mins. No minimum grade, but I try to do fund things to see if anyone notices, like the buffalo nickel type 2 is a 3 legged 37.

3. Coins shows, and dealers recomended on these boards.

Swampboy · June 26, 2008 2:10PM

<< Not exactly an answer to your first question, but the most important thing I have learned is this. When I was inexperienced, I would often buy coins at below whatever price guide I was using said the coin should be. I bought a lot of ugly coins thinking I was "beating" the guide price. The coins I am proudest to own are ones where it was worth paying over guide price for exceptional coins. >>

Excellent post morganbarber.

I'm sure many newbies have made the mistake you mention of making assumptions about a coins value based on a cursory glance at a price 'guide'. I'll admit I did.

Simple questions from a newbie to the veterans...

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