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What % or $ value above a generic coin would you pay for PQ eye appealing example?

mercurydimeguymercurydimeguy Posts: 4,625 ✭✭✭✭
I'm fascinated by this topic as I think I might be on a island (recently).



I regularly pay more $ for eye appealing coins at the assigned grade, sometimes even more than the next grade's normal trading range. But. Recently I've observed more bottom feeding than paying premiums for quality.



This begs a few questions...



- are people regularly paying premiums for nicer coins?

- is paying a premium for coins a dumb thing since few appear to be doing it?

- are we just in a down market, lacking liquidity, so coins trade for whatever?

- if you pay a premium, how much more would you stretch? Is it a $$ amount or a percentage? Do you have rules or just go with your gut?



Thanks.

Comments

  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭
    Rather than paying premiums for "nice" coins it is probably time to start discounting "ordinary" or worse coins. Why are some collectors so eager to pay premiums? When I have sold over the years I don't recall buyers, be they dealers or other collectors, ever being anxious to pay premiums for anything. Discounting for perceived deficiencies ... another story.
    All glory is fleeting.
  • jonrunsjonruns Posts: 1,196 ✭✭✭✭✭
    Great advice posted by TradeDollarNut about a decade ago:

    --------------------

    Buy the nicest coin you can for the grade. You’ll pay extra for this, but the fact is that the number on the holder limits the price you pay. The holder actually has a negative value in this instance. Resist the coin that seems like a bargain – there is no Santa Claus in numismatics.

    Buy and sell a few coins to get a feel for the market. Note how long it takes to sell the coin at a certain price and how much you have to discount it to be immediately liquid. Factor in this time and amount when purchasing in the future.

    ----------------------

    To your question...I think that it depends upon the series and the date...then of course there is the question of "premium to what?"...I think it is important to buy and sell a few of your coins every so often to get a feel for the market...put them on Great Collections for a quick read...
  • PaleElfPaleElf Posts: 990 ✭✭✭
    Originally posted by: jonruns
    Buy the nicest coin you can for the grade. You’ll pay extra for this, but the fact is that the number on the holder limits the price you pay.


    I agree. However, it all depends on what "pay extra" means. Some dealers attach a fair premium. Some dealers reach for the stars. When I patronize a dealer's site or store, I try to gauge the % premium they attach to their most eye appealing coins. If the premium appears fair, I follow and continue to patronize. If the premium is outrageous, I never return because it is an indication that all their prices are likely inflated.

  • mercurydimeguymercurydimeguy Posts: 4,625 ✭✭✭✭
    Originally posted by: PaleElf

    Originally posted by: jonruns

    Buy the nicest coin you can for the grade. You’ll pay extra for this, but the fact is that the number on the holder limits the price you pay.




    However, it all depends on what "pay extra" means... If the premium appears fair ...







    This is the heart of what I'm asking... what do you consider fair? What is fair premium for a PQ eye appealing coin?



    Thanks!



  • 3keepSECRETif2rDEAD3keepSECRETif2rDEAD Posts: 4,285 ✭✭✭✭✭
    Originally posted by: mercurydimeguy
    Originally posted by: PaleElf
    Originally posted by: jonruns
    Buy the nicest coin you can for the grade. You’ll pay extra for this, but the fact is that the number on the holder limits the price you pay.


    However, it all depends on what "pay extra" means... If the premium appears fair ...



    This is the heart of what I'm asking... what do you consider fair? What is fair premium for a PQ eye appealing coin?

    Thanks!



    ...I'm a small microscopic fish in this vast ocean of bank accounts...but maybe an example of 10% to 20% premium for grade assigned is fair...like if it had a green CAC? I think the market has has accepted that threshold, at least at auction. It would be interesting if you could compare the last 3-5 years of auction records with the same series and see what the spread is for stickered vs. non. I fully understand that in no way are all CAC stickered coins "eye appealing" to many but it's a nice mark to use for an experiment image
  • MidLifeCrisisMidLifeCrisis Posts: 10,504 ✭✭✭✭✭
    Buy coins that are actually rare, rather than coins that are so common that they can be traded like shares of stock, and the premise of the OP's post essentially goes away.



    Similarly, don't box yourself into a percentage above or below. Evaluate each coin independently.
  • IrishMikeyIrishMikey Posts: 1,561 ✭✭✭
    10% to 20% is probably a fair range for what the OP is asking. I will say that I have paid as much as 10 times the "generic" price for a truly PQ example, but those are exceptions.
  • PaleElfPaleElf Posts: 990 ✭✭✭
    Originally posted by: IrishMikey
    10% to 20% is probably a fair range


    Concur. Also check the pricing on the next grade up. I rarely pay more than the higher grade unless it is a stunner.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    Premium dollars for premium coins. Generic is to widget what album filling is to assembling coins for no apparent reason. (to me) Yes, I might pay a little bit more for some "generic" coins. Not too much now. It's a hobby and a passion but no sense in being stupid in my quest or burying another in their's.
  • TomBTomB Posts: 20,697 ✭✭✭✭✭
    For many coins, I believe the term "market price" is a euphemism for the rather long "price-that-the-worst-and-least-eye-appeal-example-that-made-the-grade-can-be-expected-to-achieve". If viewed this way, the "market price" is more indicative of a discount than a true value for a great coin and it might make paying more for wonderful pieces a bit more palatable.
    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,638 ✭✭✭✭
    I've never understood why the price of a coin that I don't want to buy should have any bearing on the price of one that I do want.
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭
    I've bid 2300% of PCGS Price Guide value on a PCGS coin and lost.

    So at least 2300%. It was a toned Morgan.
  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • BoosibriBoosibri Posts: 11,841 ✭✭✭✭✭
    Originally posted by: MidLifeCrisis

    Buy coins that are actually rare, rather than coins that are so common that they can be traded like shares of stock, and the premise of the OP's post essentially goes away.



    Similarly, don't box yourself into a percentage above or below. Evaluate each coin independently.




    I agree with this philosophy and also with JA.
  • SeattleSlammerSeattleSlammer Posts: 9,953 ✭✭✭✭✭
    Originally posted by: CoinRaritiesOnline
    I've never understood why the price of a coin that I don't want to buy should have any bearing on the price of one that I do want.



    Well assuming that those two coins are from the same series; the ugly one makes the pretty one worth more, and the pretty one makes the ugly one worth less.
  • BochimanBochiman Posts: 25,285 ✭✭✭✭✭
    There is no set $ or % amount....



    Too many variables. How abundant are "nice" coins of that same type/date/mm, usually comes to mind for me....



    For instance, a PQ 1881-S Morgan? Would pay a little "extra" if I liked it, but I know there are more than a few out there.



    A nicely toned 1955/55 Lincoln? More if I like it because I've seen very few that are legit and nice looking, and aren't just RD/RB/BN.



    Add to that, the value of the coin anyway. A toned silver Roosevelt from 1958? Not that much extra, but a little. A nicely toned silver Roosie from 1951/1952, etc? A bit more.



    Early coppers...I would pay more than I would for many morgans. ("amount of generic example for a nice example")

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    17.36%
  • KccoinKccoin Posts: 1,086 ✭✭✭✭✭
    Originally posted by: MidLifeCrisis

    Buy coins that are actually rare, rather than coins that are so common that they can be traded like shares of stock, and the premise of the OP's post essentially goes away.



    Similarly, don't box yourself into a percentage above or below. Evaluate each coin independently.




    I feel there is alot of truth here. However, as I am more of a type collector, I ask myself:

    -whats the going rate for an average coin

    -is this coin nice? How nice is it?

    -how do these come? (date, mm)

    -whats the spread to the next grade?

    -can I live without it?



    There are alot of things to consider when making a personal valuation on each coin.



    Short answer - as cheap as I can image
  • thisnamztakenthisnamztaken Posts: 4,101 ✭✭✭✭✭
    Originally posted by: TopographicOceans
    17.36%

    image

    I never thought that growing old would happen so fast.
    - Jim
  • lordmarcovanlordmarcovan Posts: 43,194 ✭✭✭✭✭
    Originally posted by: 3keepSECRETif2rDEAD

    ...I'm a small microscopic fish in this vast ocean of bank accounts...but maybe an example of 10% to 20% premium for grade assigned is fair...like if it had a green CAC? I think the market has has accepted that threshold, at least at auction. It would be interesting if you could compare the last 3-5 years of auction records with the same series and see what the spread is for stickered vs. non. I fully understand that in no way are all CAC stickered coins "eye appealing" to many but it's a nice mark to use for an experiment image





    And I swim right behind thee in the school of minnows, 3keep. Ditto to what you said, though I don't really even care that much about the CAC beans, personally.




    Explore collections of lordmarcovan on CollecOnline, management, safe-keeping, sharing and valuation solution for art piece and collectibles.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    The original question...
    What % or $ value above a generic coin would you pay for PQ eye appealing example?
    specifically addresses 'eye appeal'.

    For many, this implies tarnish/color, for others it may mean originality or lack of surface distractions/damage. I tend to look for strike, surface condition and -my preference - lack of tarnish...That being said, the criteria I seek most is strike and lack of damage.

    I will not buy a coin that has 'premium' pricing...be it for tarnish label or stickers... Cheers, RickO

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