I am doing my homework and compiling a want list for the upcoming Baltimore Show. I always make a spreadsheet showing me where current prices are for the coins I intend to look for. I usually look at Coinage, Coin World, and the NGC price guide to get an understanding of where current prices are. Due to the current Silver market, the current Coinage and Coin World are grossly outdated to the market changes. I know a lot of you think that the NGC price guide is "full retail". How would you come up with a fair price in the current market? Here are two examples of coins I will be shopping for: 1884 Philly Morgan NGC MS-64 $120 NGC MS-65 325 1888 Philly Morgan NGC MS-64 $120 NGC MS-65 250 I understand that I should look for a coin that pleases my eye appeal and wallet, but I do not want to insult a dealer either. I understand that they have to make a living. Would 10% off of full retail be ok? Does anyone know what the grey sheet values are for these coins? I am thinking that $110 would be fair for the MS-64's, and $300 and $225 would be ok for the MS-65's. Would any of you mind being my sounding board on this? Your input would greatly be appreciated. Thank you for your time. JD
You can subscribe to the Gray Sheet (Coin Dealer Newsletter) online. I think they offer an introductory starter pack of Gray sheets for something like $13. This weekly newsletter shows bid & ask prices for all the Morgan & Peace dollars in virtually all the MS grades.
Here is the direct link to buy the CDN sample pack. I recommend it. http://www.greysheet.com/web_order/special_form.asp
I would tell you Silver cowboy, but my greysheet is most likely too old to give you the proper answer. I am sure someone can tell you.
There is something you have to realize before asking/answering a question like that. Take the first coin you are asking about in MS65. It will not be uncommon for you to find several different dealers selling that coin - all asking different prices. It could easy vary from as low as $200 and as high as $350, with the average being closer to $250. Your second coin in 65 will be much the same in regard to spread. It may be anywhere from $130 to $250. And these are actual realized prices - for both. I guess what I'm trying to tell you is that you can't narrow it down like you'd like. You have to always realize that no two coins are equal and that you will never find prices to be as cut and dried as most people seem to think they are. You will always have a very wide range for any coin in any grade. The real question you have to ask yourself for any particular coin is - is it worth it to you ?
