can someone explain all these dang coin prices!!!!!!!!!!!!!!!!

[chong2]

ok, i have been collection coins here and there for a few years, mostly large cents. now there are sooooooo many different prices for the same grade coin. ebay seems about right, coin prices seem way too high, local dealers seem way to high, whitman redbook seems about right, what is the whitman bluebook? what price guide should i go by figuring my coins values?? its crazy another thing, are you telling me that before the wonderful internet came along, people were buying coins at dealer prices
someone please explain

 

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[djui5]

Dealers buy cheap, and sell at retail prices. They have wiggle room to barter with clients. It's been that way forever, not just with coins, but everything really. e-bay isn't always a good place to get coin prices, as it's a wack fest most of the time now a days. It's a good reference though.

If you wanna know what a coins worth, meaning what it should sell for to a private party, then look it up in the Red Book, and deduct about 15% of that price, sometimes up to 25% depending on the coin/etc. Also, there is the PCGS price guide online that's a decent reference. Coins usually sell for about 75% of that price. Sometimes a coin will be "hot" and is selling for more than the price guide.

If your a dealer, there's the greysheet, which is a monthly publication that dealers buy with updated coin prices. It also lists what percentage of the price they should buy the coins for, based on the grading. It'll look like this:

CDN Certified Coin Market Indicator for the coin price guide
PCGS: 83.54%
NGC: 78.27%
ANACS: 57.60%
ICG: 79.66%
PCI: 50.12%
SEGS: 48.97%
NCI: 39.94%
INS: 28.56%

http://greysheet.com/

This brings me to my next point, that different grading companies sell for different prices. Anything graded by PCGS will sell for the highest price. Etc.

If the coin isn't graded, it's worth whatever you can get someone to pay for it. Sometimes you can sell rare errors (1941/2 merc dime) ungraded for a good amount of money if you sell to someone who knows grading well and has a good eye. They'll recognize it for what it's worth.

About the dealers, I try to avoid selling coins to them. Never have actually, as they won't pay but about 50% of what it's worth. I sell to private collectors. I took 10 ounces of Silver bullion into a coin dealer (silver bars/etc) and couldn't even get that jerk to pay spot price. It was only $5 difference, so I didn't argue, but it was still hilarious.

Also, if you have super high value or rare coins, the best place to get top dollar is the Heritage Auction house. Just look at their web-site for ideas.

 

[chong2]

k, well thats good, i have been using the redbook to buy, i too have only sold bullion to dealers, i think i got a few cents under spot. i took some coins once, he offered me crap for them, im glad he did because if i did, i would no longer have them i was just looking at PCGS prices before i read your message,the real funny thing is in 04 i joined them for like a 100.00, and had a few free submissions, i forgot how many, and i NEVER sent any off!!!!!!!!!!!!!!!!!!!! talk about procastination

 

[Jeffro]

To clarify a little what DJUI touched upon...

If you're talking about graded coins, you'll see the price fluctuate a BUNCH depending on who graded it.

PCGS and NGC and ANACS hold the best values, as they are the more accurate grading companies.

I bought an MS-65 Morgan that in the price guides was a 300 dollar coin, for 100 bucks on Ebay. When I got the coin it was nowhere near MS65. It was definately an AU coin by anyones standards. The grading company was PCI, and in my opinion one of the worst grading companies to walk the earth.

So you will see the same coin, same grade, from PCGS selling on ebay for say 200 bucks and from PCI it will sell for maybe 65- 100 bucks.

Clear as mud?

 

[fiatboy]

If you wanna know what a coins worth, meaning what it should sell for to a private party, then look it up in the Red Book, and deduct about 15% of that price, sometimes up to 25% depending on the coin/etc. Also, there is the PCGS price guide online that's a decent reference. Coins usually sell for about 75% of that price. Sometimes a coin will be "hot" and is selling for more than the price guide.

I second that.

 

[chong2]

got it. so if i want to feel better about my coins i should send them to PCI. if i wanna get put down send them to PCGS?

 

[Jeffro]

got it. so if i want to feel better about my coins i should send them to PCI. if i wanna get put down send them to PCGS?

LOL!

 

[djui5]

Eventually you'll learn approx what they'll grade just by looking at them. That's why a lot of people don't buy coins off the internet, unless they're graded.

 

[oldplacesnofinds]

got it. so if i want to feel better about my coins i should send them to PCI. if i wanna get put down send them to PCGS?

I have been buying and selling coins for quite some time. If you have a nice coin worth (if the grade is right) under $300, send it to PCI. Anything higher goes to PCGS. Why spend a fortune to certify a coin if it is not worth much? For pricing: When I buy I like to go by the Blue book. If you buy at Redbook pricing, you will never make out, unless it is gold. Ebay is an excellent place to buy coins if you know what you are doing. It is nothing to get a coin at 1/2 red book price. Most people will not pay cost for a coin unless it is very desirable. Errors and low mint coins get premium prices. Coins are an excellent hobby and a great way to invest. If you need to know anything else I would be happy to answer.

 

[chong2]

oldplacesnofinds, what do you think of anacs?

 

[oldplacesnofinds]

I have used them in the past and they are very inconsistent with their grading. They are more expensive than PCI but still cheaper than PCGS. Their are only 3 coin graders in my opinion, NGC (best) PCGS (2nd best) and PCI. PCI will give you fair grades at a cheap price and much better delivery time than the other 2. But, if you have an coin worth a lot of money, it is better to have PCGS or NGC do the grading because they are much more reputable. PCI has come a long way since they started and people have caught on. Plus they have monthly deals you can get by email.

 

[Heavy Chevy]

I have a statement that may be off topic but here goes..

ANACS is the only coin holder( the new style not the old butt ugly kind) i have that a silver coin tarnished on me.The coin was a pristine PR-70 and after a few months tarnished on me.

I have never had that happen with any other graded/slabbed coins.

BTW i have several coins from PCGS that are graded the same but if you look at the coins there is a world of difference in the appearance.

I feel that the NGC company is the most consistant grader.

Heavy Chevy

 

[Monty]

I don't know a thing about grading coins, but our club president said that when buying bulk silver coins (dimes and quarters) for our club hunts, the dimes are running about a buck apiece and the quarters about $2.20. silver dollars are about ten bucks each. I'm amassing a pretty good stash of silver dimes and quarters I have found in club hunts but a dealer won't even come near the purchase price when you try to sell them back. Monty

 

[djui5]

I'm amassing a pretty good stash of silver dimes and quarters I have found in club hunts but a dealer won't even come near the purchase price when you try to sell them back. Monty

Of course not. They jack the price up to sell, and buy them for 30% of their worth.

For the record, unless they're key dates or errors, Silver coins should sell at spot price. Mercury Dimes are worth about $.94, Quarters about $2.35, and Morgan Dollars $10.05. This is at $13 an ounce Silver. Dealerships should buy them for whatever the exact spot price is at the moment. They'll try to tell you they can't, but they should and will if you prod enough.

Here are the weights so you can calculate it yourself:

Trade Dollars: 0.7874 oz pure silver (NEVER SELL CC AT THESE PRICES)
Morgan Dollars: .77344 ounce pure silver (NEVER SELL CC AT THESE PRICES)
Walking Liberty Half: .36169 ounce pure silver
Franklyn Half: 36169 ounce pure silver
Barber Half: .36169 ounce pure silver
Kennedy Half Reeded edge: .36169 ounce pure silver
Kennedy Half Silver Clad: .14792 ounce pure silver
Rosie Dimes: .07234 ounce pure silver
Merc Dimes: .07234 ounce pure silver
Barber Dimes: .0723 ounce pure silver

 

[Old Dog]

The best prices for coins in a retail sence is a small mag called Coin Values. it is what most dealers are using to sell from.
All coins are bought and sold by grade and condition.
Don't be surprised when they are all listed that way.
Coin Values is peinted by Coin world and is updated monthly.

I enjoy watching the prices go off the wall.

OD

 

[chong2]

i wonder if i could get anyone to buy my coins at coin prices prices...........

 

[djui5]

What coins do you have?

 

[Old Dog]

Best bet is to put them on Ebay and catch as catch can.

OD

 

[chong2]

large cents

 

[ivan salis]

simple buy at the lowest price you can find in print--sell at the highest price in print you can find---thats what we all wish for ----now wake up from the dream ---NO EASY MONEY---in the real world ---blue book and a honest grading of the coins is the "basic" private person to person buying or selling point in most cases (+ or - a bit)--- to sell to a dealer red book - 25 % of honest grading---- to buy from a dealer ---full red book (- a bit if he needs a sale or two)---its hard to make money at times ---everyone wants top dollar to sell and offers zip to buy these days but thats just the biz---good luck ---Ivan