Today I purchased the 74-S deep cameo Quarter (PF69) for $11 includding shipping (graded by PCGS) when the value of it $22.50. did i do ok because I have done this with a few other coins (like a 61/64 dime and 2 other (90/93 Silver Proof quarters PCGS graded Pf69 I believe and a couple of non graded nickels) Question and I dont know if I am doing this correctly and dont want keep spending money if I dont need to or it's not wise. I am constantly looking at the value and looking at the price before I make a purchase and it seems good to me so I decided to pick it up however I dont want to this is too good to be true type thing...I rather be having some good luck/finds :hail: :thumb: Please advise and thanks ahead of time :bow: Shrek :kewl:
Do you ever post in complete sentences offering a more detailed explanation of your opinion, or are you limited to one liners?
If at all possible, do not use price guides. Your best bet is what a coin really sells for. Look for sales at eBay, Heritage, Teletrade, etc. These are all free to join and very valuable for all kinds of info as well as pricing. The only exception I make is that sometimes I find coins where there is no good current sales. I might interpolate from a price list to find something useful. i.e., the next higher (or lower) grade sells for 2/3 list. Therefore, my bid will be 2/3 list. BTW, from what I have seen, lists are most useless for modern coins.
PCGS Price guide does not = FMV (Fair market value)....The pcgs price guide is the amount PCGS would give you if your coin turns out to be fake or modified exc.. It generally in a few steps above FMV, and should really not be used to determine the valye of a coin.
You have a protected coin, a graded coin, and a nice coin you could sell for more than you paid. I'd say you did alright.
I thought this was supposed to be a family friendly forum where you could come and be yourself without fear of criticism. From what I've read on this forum, MPC has more knowledge on this forum than most of us. Behave.
Dream on. PCGS will typically pay off at what THEY decide is FMV and it is usually well below the prices shown in their price guide.
Please don't be angry, but the above is a completely untrue statement. They DO NOT use their own price guide when evaluating the amount of money to pay out in those situations. From what I've experienced myself and read second-hand, they use figures that are almost always lower (think greysheet low). It's one of PCGS' dirty little secrets, IMO....Mike
p.s. To the OP. I would strongly suggest you go out and just cherrypick proof sets rather than buy these coins in slabs. They are ridiculously common in those grades, and you can purchase an entire proof set for that year for about the same price as you paid for one slabbed coin. That said, if you have your heart set on slabbed examples, you didn't do bad with this purchase.
I hate to post a "me, too" type of response, but I heartily agree with Conder101 and Leadfoot in that the PCGS price guide is not the level at which they will buy a coin back off the market. The price guide is a "feel good" guide that is supposed to reflect full retail value for accurately graded, problem-free coins in PCGS holders. When one utilizes the PCGS buyback program one agrees to allow PCGS to come up with a value and to either accept or decline their terms. Many times their terms are to give the coin back in a lower graded holder with cash compensation, but other times if one simply wants the cash then PCGS determines the value. This value is lower than the PCGS price guide. For the OP, unless you want slabbed coins only, you may be better off looking through the thousands of extant, original proof sets on the market at shows and at shops and then pick the best of what you find. Oftentimes you will pay less for the entire proof set in order to obtain a coin of similar value.
In this case, I think I'd rather pay a premium for one common proof coin that has a lower likelihood of responding to the environment and getting damaged during a transfer, which is professionally graded, than pay less for an entire raw set. All things equal, I'll purchase a proof slabbed before a bus. strike. To each's own.
