NGC World coin values.

Discussion in 'Coin Chat' started by Detecto92, Apr 18, 2013.

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  1. Detecto92

    Detecto92 Well-Known Member

    Are they accurate? Looking for a free resource.
     
    Detecto92, Apr 18, 2013
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  3. enochian

    enochian silver eater

    they come from the krause books so if krause has a error so do they


    just go to your library and get a krause book the usualy come with a cd with the pdf in it
     
    enochian, Apr 18, 2013
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  4. enochian

    enochian silver eater

    ucoin is a good website and silverage coins shows price listings
     
    enochian, Apr 18, 2013
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  5. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Well, yes and no. Krause's Numismaster compiles the world coin values, but unlike the book, they are updated more frequently.

    Chris
     
    cpm9ball, Apr 18, 2013
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  6. Detecto92

    Detecto92 Well-Known Member

    Between ebay prices and the amount used on NGC, there is one heck of a difference! Some coins worth $30 on there bring $5 tops on eBay.
     
    Detecto92, Apr 18, 2013
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  7. enochian

    enochian silver eater

    thats cus there foreign
     
    enochian, Apr 18, 2013
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  8. spock1k

    spock1k King of Hearts

    for indian coins it is a piece of trash IMHO
     
    spock1k, Apr 18, 2013
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  9. GDJMSP

    GDJMSP Numismatist Moderator

    GDJMSP, Apr 18, 2013
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  10. Detecto92

    Detecto92 Well-Known Member

    On the other hand, if I wanted to sell these, I could always look up completed listings to obtain a better price.

    Now for insurance reasons, would it be appropriate to use prices from Krause?
     
    Detecto92, Apr 18, 2013
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  11. spock1k

    spock1k King of Hearts

    lol u r a smart guy

    but no the insurance companies would catch immediately that you were using inflated numbers :D
     
    spock1k, Apr 18, 2013
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  12. Detecto92

    Detecto92 Well-Known Member

    It wouldn't be inflated, it would be accurate from a book. I don't think people use completed eBay listings to price their coins for insurance reasons.
     
    Detecto92, Apr 18, 2013
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  13. spock1k

    spock1k King of Hearts

    you would just end up paying extra insurance money. when the insurance companies settle claims they go through all the knooks and corners :) insurance is indemnify which means make good the loss. plus you would need to have receipts of your purchases.
     
    spock1k, Apr 18, 2013
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  14. Detecto92

    Detecto92 Well-Known Member

    I don't think you need receipts. Say you bought a $500 coin for $100. Surely they wouldn't only pay $100 when the coin is worth $500.
     
    Detecto92, Apr 18, 2013
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  15. GDJMSP

    GDJMSP Numismatist Moderator

    Tim, you always want to get and save receipts for every coin you ever buy. You need them for several reasons, so just make sure you do it.

    As for valuing coins for an insurance company, rarely would you ever need to value the coins unless you filed a claim. And if you filed a claim then the insurance company is going to be the one who values the coins, not you.

    But, if you think they under-valued your coins then and only then would need to counter with what you think they are worth. And the insurance companies know just the rest of us that books and price guides are worthless when it comes to establishing the value of a coin. They are also quite well aware that people on ebay over-pay for coins, so they won't pay any attention to ebay. Nor would they accept dealer asking prices because dealer asking prices can vary by 100% or more.

    What you would need is that link I gave you in this thread. That shows completed auctions for world coins and those values would be accepted. For US coins you would use completed auctions from Heritage and other auction houses.
     
    GDJMSP, Apr 18, 2013
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  16. spock1k

    spock1k King of Hearts

    and even with all that you might still not get 100 %
     
    spock1k, Apr 18, 2013
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  17. Detecto92

    Detecto92 Well-Known Member

    So for the collection manager I use, what should I use for "current value". It's hard to use ebay completed because prices can be all over. I've seen the same coin, the same grade bring $5 once, and $2 the next.
     
    Detecto92, Apr 18, 2013
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  18. GDJMSP

    GDJMSP Numismatist Moderator

    Completed auction prices are the only thing I would ever use. But even with those, the same coin, in the same grade, graded by the same TPG, prices can still vary by 100%. Meaning 1 example might have sold for double what another did. And more in some cases, less in others.

    What people never seem to understand is that no coin is ever worth a set, specific amount of money - not ever. They always vary in value because every single coin is unique.

    So the only thing you can ever do when trying to establish value for any given coin is to compare it to others in completed auctions, find one that seems closest to being like yours, and use that value.

    Problem is, values change all the time. In a single year I've seen coins lose 50% or more of their value, or double or even triple in value, in 1 year. So reality is that it is senseless to even try to value your coins. Unless you are going to sell them, and very soon.

    I found out many years ago that trying to keep an updated list of coin values for the coins in my collection was a huge, just a truly huge, amount of work. I had to redo everything every few months, and over and over, and over again. So I eventually quit even trying. It just wasn't worth it.
     
    GDJMSP, Apr 18, 2013
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  19. spock1k

    spock1k King of Hearts

    well said. brilliant. what happened to you while I was away? :D
     
    spock1k, Apr 19, 2013
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  20. desertgem

    desertgem Senior Errer Collecktor Supporter

    Tim, I hope you are talking about a numismatic policy from ANA supported broker rather than a home policy, which if you check it probably has no protection to little protection.
     
    desertgem, Apr 19, 2013
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  21. Detecto92

    Detecto92 Well-Known Member

    Home insurance doesn't cover coins??
     
    Detecto92, Apr 19, 2013
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