I'm looking to add some more gold to my collection, and this one looks very attractive. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3033794305 Should I buy?
Well for one thing that is about the most common $10 Indian. For another - apparently the seller uses the same pic over & over. Check this closed auction - http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3031555166&category=39471 I think I'd ask for a pic of the coin you will receive. For another - the price is a bit high. This coin in this grade often sells for less.
Be cautious on this one. Ask for a photo of the coin you will receive. Do some comparison shopping...see what other dealers are selling this item for. What kind of return policy does this dealer have? Walt
I had thought that the grading made the collecting safer. Why not just use one of the online price services to see what they say current price should be. I used CoinCrazy & looked up '32 $10 Indian Head PCGS MS-63, and found $720 quoted. How do you experienced collectors do it?
Yea, PCGS coins will generally bring a premium. However, I do think you could do better than this, just be patient.
That's somewhat debatable Jim. Do their slabbed coins bring the most money currently - yes. Is this changing - yes. Are they the most consistent - no. Are they the best grading company - a matter of opinion. Are they the most conservative when it comes to grading - IMO no - it depends on the coin. Do they have the toughest standards - no. Do they have the best marketing campaign & methods - yes. Is this why their slabbed coins bring the highest prices at the present time - again IMO - yes. Do they change their grading standards - yes. But then so do all the other companies. Do they follow the grading standards of the ANA - no - neither do the other companies. But I will agree - if new collectors are going to buy slabbed coins and the collector does not know how to grade for him/herself - then they should stick with buy coins slabbed by NGC or PCGS. If you do not know how to grade yourself - it way to easy to pay too much for a coin that has been slabbed by the other grading companies. Of course you can pay too much for those slabbed by NGC & PCGS too.
Okay guys, you convinced me not to buy that one. How did this turn into a debate of PCGS? Since you're all against that specific coin, maybe you can direct me to on in the same price range, same type coin?
Surely everythings debatable,but facts are facts,whether it's because of good promotion,or because they are the best thing since sliced bread. I didn't mean it as a promotion of PCGS,personally,I prefer NGC I was just stating the facts as I see them.PCGS is currently the most popular service (and the most expensive last time I looked)for US coins bringing the highest prices and most bids in general.This isn't debatable,it's fact. Hey,I don't even collect slabs! I just keep up on things for my groups. Every service makes mistakes from time to time, human error is natural. Unfortunately for the beginner's,some human errors run certification services. ~ Jim
Just keep looking the same way you found that one Coin Chick. You'll find another. But before bidding - I would suggest doing a search of completed auctions for the same item. This will give you a pretty good idea of what they are selling for at the present time. And if the current price for the one you are considering bidding on is higher than the average of completed items - wait for another unless there is something very special about the coin.
A final thought: Are you in an area where they have coin shows? That's a good way to compare coins and prices! Don't make commitments until you are able to view similar coins from different dealers. If it's a big show, look for best prices Saturday afternoon---a lot of dealers tske off Sunday. If it's a one-day show, look for the best prices late in the day---an hour or two before the show closes. That's when dealers are eager to make a few bucks before the show ends. Above all: Buy the coin, not the slab! Walt
Hey, Coin Chick. A ninety-minute drive to get to a decent coin show is not a bad deal. If you can find one where there are at least 50 tables, you should be able to do some good comparison shopping. I've seen a $15 difference on similarly graded coins of the same year and mint mark with list prices of $50-$75 -- all at the same show. So for a coin listing at $700-plus, you might be able to swing a great deal, provided there's a dealer there with the coin you're looking for. Go to the show, find a nice place for dinner and make a day of it.
It's worth the time and effort. You will be able to "comparison shop" and may meet a dealer or two and form a relationship. Back in my active collecting days, I used to fly 200 miles to Honolulu for the annual Hawaii State Numismatic Association coin show. It was worth the time and expense. Walt
