What percent of the listed PCGS prices might an individual selling to another individual be expected to obtain? If different, what percent of PCGS would be a reasonable price to list on ebay?
Unfortunately, there is no cut and dried, cook book answer. Some coins have a "true market" value of 1/10 the PCGS Price guide. Others, fall into the half price range while still others, the PCGS Price guide is half of true market value. You really need to know what you are selling and who you are selling it to. I recently sold an Accented Hair Kennedy that was "Price Guide" valued at $65. "Sixty Five Bucks"??? Who, in their right mind would ever consider selling an Accented Hair Kennedy for $65 in todays market?? I listed the coin at $175 and excepted any offer over $150. Within 24 hours, the coin was sold for $159.95 even though the PCGS Price Guide stated $65. Know you product.......know your market.
Look at completed sales on eBay for a more accurate value. Don't use the PCGS price guide. You'll be disappointed.
...and other sells for 20% of price guide. Thus the argument that price-guides are pretty much worthless.
The "presumption" here is that ALL interested parties are bidding on ALL the listings for a certain coin type. Nothing could be further from the truth. eBay, IMO, is a cherry pickers paradise made up of sharks and idiots and given the anonymous nature of eBay, you never really know which is which. The bottom line is that folks need to KNOW what they are selling and to WHOM they are targeting their sales.
Yup, what they said. Even completed auction sales, like HA.com, even for same coin and grade and TPG, you need to try to compare similar quality coins to each other, toners to toners, white to white, dogs to dogs, etc.
The PCGS price guide is supposedly for PCGS slabbed coins. "The PCGS Price Guide prices apply only to PCGS-graded coins." and "The prices listed in the PCGS Price Guide are average dealer asking prices for PCGS-graded coins." (from their website)... so, in fact they do not at all represent what a raw coin will go for, and they encompass all coins of a grade... so if there are a large number of coins of one grade (PCGS graded) trading by a dealer's asking price but 99% of those are dogs or just making the grade and one is a solid grade, then it will be lower than one you might be considering buying that is solid to higher priced. And vice versa..... try selling a just barely making the grade or one that people can see is overgraded in the slab chances are they won't bring what the price guide says. Even though you should buy the coin and not the slab, this price guide is postulated that the coin is slabbed by PCGS and is average for the grade.
Just look at the completed sales further down on the price guide. Very accurate as they are actual sales. Most even link to the actual sale so you can see the coin that sold.
I agree with this 100%. That's why I wish price guides listed ranges, or at least broke things up into toned and untoned coins. I do a lot of my buying at shows. I don't generally try to get a "deal," although I will haggle a little. I just try to pay a fair price for a nice coin, and even that is tough when all the price guides are so terrible.
So, followup question. When selling coins (not to a dealer) what is the best and logical way to set a price?
A price guide will only give you a ballpark number. Completed eBay listings of similar coins will give you more realistic values. NGC/PCGS stabbed coins often sell for more than ANACS coins or raw coins. It's really not that hard to find out the market value of your coins...
No standard answer is possible. I would say that the best thing is to research comparable sales based on reputable auctions on the Internet.
