I was at an antique store this weekend with my wife and got a couple coins. I was wondering if it was a good deal? 1909 VDB penny XF45 - $17 1868 Shield Nickle VG8 - $11 I'm pretty the shield nickel was a good deal but NGC and PCGS price estimates for the 1909 are quite different NGC say like $12 and PCGS say 18 (or vice versa I forget which is which). Anyway, any thoughts?
Can you actually grade and identify problem coins, or are you simply relying on the seller's claim? If you are unable to do so, leave antique shops/malls alone and find a good dealer while you learn. Do not look at PCGS or numismedia retail and assume a raw coin priced less is, or may be a deal.
The seller made no claims on the conditions of the coins. I graded them myself using the PCGS photograde app. I'm fairly decent at it. I'm not a great at telling like if its whizzed vs whipped or stuff like that, but I can tell a basic grade. I also visit coins shops and buy things from ebay, but you can get some really good deals in antique shops sometimes. ebay is hit or miss, something you do well or sometimes you get it for what it is worth. coins shops tend to be on the pricey side, you generally don't get any good deals. you either pay exactly what its worth or pay a little more. they always have good stuff and expert staff but its not a place to find a good deal. I go there when I dont want to mess around but sometimes I like to test my luck and look for good deals
If a so-called "deal" is your main focus, I fear that sooner or later you will be in for a big disappointment. The following is only meant as friendly advice, so feel free to take it as you wish. I, of course, cannot speak for every antique mall, but cabinets in those locally are (or were) all rented by dealers and were a great place to dump junk and/or problems for above average prices, even after paying rental fees and commission. Such places are more geared towards novelty and impulse buyers as opposed to knowledgeable collectors, and achieved prices often show this. From my own experience I can tell you that the best coins were almost always overlooked for those that seemed a “deal”; often more popular coins and dates would sell very quickly, even if problems were noted on the holder, as long as they were priced below common retail guides. While some sellers would claim grades above what a coin really was, others would leave it up to buyer knowing full well that most people cannot grade and will focus more on price, but either way the point was to squeeze the most money possible out of coins that elsewhere would sell for somewhat to substantially less. The same can go for antique shops; I am close to an antiquing area and used to handle coins for a number of them. Overwhelmingly, the best sellers were dreck sold to people who wanted the novelty of something “old” or were thinking they were getting a deal. Of course there are and were exceptions, but I urge you not to assume that because an establishment may not appear to have an “expert staff”, it is ripe for the picking. Please understand that I am not saying that you avoid these venues, but I do suggest that you take it slow (no matter where you buy) until you become more familiar with proper grading, valuation, and problem identification as a whole. Again, this all is meant only as friendly advice and food for thought.
