jallengomez

I recently purchased a lot on Ebay(yes I know!) in which the seller guaranteed more than the value of the final bid of coins from this estate collection. It was under $10 so I did not stand to lose much. Based upon her estimation, the coins would have been over double the final bid. She had a 1955 D BU cent in cardboard holder with MS 65 and $12 written on it. I explained to her that were this coin slabbed from a recognized grading service it would indeed fetch about $12 or so, but that 2010 Red Book value for a loose coin like this was .60¢. She writes me back and tells me Red Book, being an annual guide, is out of date before it's published and that she uses Coin Magazine because its values are up to date. So I suppose that since the 2010 Red Book was published that the value of a common Lincoln Cent has risen 2000%? Wow that book really is out of date! Does Coin Mag inflate prices, or does it base MS prices on realized values of SLABBED coins? I've never read the magazine.

Lehigh96

It sounds like you just paid a few dollars for the honor of giving an E-Bay scumbag seller NEGATIVE FEEDBACK.

jallengomez

Lehig96-
Thanks for responding. You obviously have more experience than me, so could you elaborate a bit? Is Coin Magazine a publication that allows Ebayers to take advantage of people? I feel that I'm right here, but need objective reasons.

Lehigh96

The response from the seller was ridiculous. Everything you stated on your OP was correct. Raw BU 55-D Lincoln Cents are not worth $12 no matter what Coin Magazine says and the seller knows it and is trying to take advantage of you.

You don't need objective reasons. Unless you are positive this coin will grade either MS65/66, you should give the seller Negative Feedback and learn from this experience by not making the same type of mistake again.

jallengomez

Thanks Lehigh98. Think I'll take your advice!

rlm's cents

Your are wrong. First off, I never use the Red Book for a price guide.

Numismedia Fair Market Value Price Guide lists it as $14.40, PCGS @ $18.00, and coin values @$12. The only one of them for certified coins is PCGS.

However, your biggest mistake was in expecting anything other than what you got. Why on earth did you think you would really get something of value?

__________________
The monkeys stand for honesty, Giraffes are insincere,
And the elephants are kindly but They're dumb.
Orangutans are skeptical Of changes in their cages,
And the zoo keeper is very fond of rum.

jallengomez

Since you put so much value in these price guides and disavow Red Book, I'll be happy to sell you a BU 1955-D every day for half of what your lowest valued resource values it at. Do we have a deal? Yes, PCGS values a PCGS slabbed MS-65 at $18.00, but what would it cost me to have PCGS slab it? And this is assuming that a self graded coin, which you tell me I'm wrong for devaluing, will actually slab MS65!?! Red Book is correct in saying that a 1955-D that was not professionally graded is worth about 60 cents. If you don't believe them, then put your money where your sources are and buy each and every day a BU 1955-D BU which I estimate at MS65 for half the price of YOUR lowest valuer, which would be $6. Do we have a deal? After all, you'll double your money according to your sources.

rlm's cents

First, you can slab it for about $7 providing you have enough of them. However, you skipped right over the crux of my post. My purpose for quoting all the prices was to tell you how easy it is to find the wrong price.

__________________
The monkeys stand for honesty, Giraffes are insincere,
And the elephants are kindly but They're dumb.
Orangutans are skeptical Of changes in their cages,
And the zoo keeper is very fond of rum.

Firmso

You are Neither wrong nor right. Only you can put a value.

__________________
Before you can hit the jackpot, you have to put a coin in the machine ~ Flip Wilson

jallengomez

That is true that I, the valuer, determine the value of something to me. However, there is a way to obtain an objective market value. Without an objective way of determining general value, we would all be waiting to strike it rich on that one person willing to pay an exhorbitant amount for a coin because his one true love(which he lost) used to always carry an almost identical coin in her pocket.

fretboard

Absolutely, positively!! The coins on ebay are only worth the amount that you decide they are worth, period!!

Take a look at the BIN prices, most of them are truly ridiculous!! You can't trust everyone on ebay, buyer beware!.

Some ppl need to stay off of ebay and don't anyone take that personal. I'm just saying!!

jello

I agree if you can pay say away!!!

__________________
no one right 100% of the time
***The only dumb question is the one not asked***

rockdude

Yep, and if you don't have the item up for auction don't list it.

__________________
An artist is somebody who produces things that people don't need to have. Andy Warhol

jello

Yes that true!

__________________
no one right 100% of the time
***The only dumb question is the one not asked***

illini420

if the seller won't take a return and refund you then NEGATIVE feedback it is...

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My 1908-S Indian Head Cent Grading Set
http://tinyurl.com/bbzy8y
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http://tinyurl.com/dj7nbg