Puzzled with PCGS' price guide...

I was browsing through PCGS' price guide on Modern Penny's value. The value has caught my attention on 1989 P. Graded with RD MS 68 valued at $2,000-$3,000. I checked the population and found out that only 11 has been graded by PCGS. However, the record below showed one MS 68 has been sold in 2012 at Heritage Auction at $248. Only thing that bother me about PCGS price grade is green arrow up on $2,000-$3,000. Was the price guide was in error as I think it should show as $200-$300? It would make sense as one has been sold in 2012 or the buyer did struck a gold? What is your opinion on this one? Thanks.

 

Log in or Sign up to hide this ad.

Probably an error. Probably not caught when they proof read.

 

It's not PCGS's price guide. It's Numismedia.com price guide, which both PCGS and NGC use for the prices next to their graded coins.

Numismedia.com's pricing is from completed sales from different sources if I'm not mistaken.

 

tristen: That's what I thought.

Buncirculated: I just checked numismedia and NGC has same format as numismedia. Both of them doesn't show any value on MS 68. However, PCGS does and their price guide format isn't same as numismedia and NGC.

 

As I stated, PCGS and NGC price guides are taken from Numismedia.com.

 

Are you sure that's true for PCGS? It is my understanding that they use their own data.

 

This is what I've been told by others who deal with PCGS regularly. But I could be wrong.

 

Why are PCGS and NGC different?

I was looking to bid on a penny and bid according to PCGS. Then I went to NGC and found their value was 30-50% LESS! So who is right?
Then there is Redbook which says a 1909 VDB proof is $2,000 in PF 65 (don't quote me exactly as I don't have the book in front of me) but they sell on Ebay for $30,000. What's up with that? Are ANY of these references much good anyhow? I read about old-time schemes where coins prices wee bid up at auction to raise listed prices then the bid were retracted.

 

First off, as far as coin information goes, Red Book is a solid reference. If you buy for the price guide, throw it out an open window as the prices in that guide are outdated by the time to book is published and on store shelves.

Secondly, this is an old adage in coin collecting:

A coin's true value is only what someone is willing to pay for it.

In so far as eBay, asking prices are not selling prices. Search completed sales and you'll see the difference.