I recently purchased a 1858 D one dollar gold coin AU58. When I look at the value of this coin it varies June Market Review Greysheet. 7190 July Greysheet 5750 NGC 5850 PCGS 8000 I know it’s only worth what someone is willing to pay for it. But my question is why is there such a wide range of values posted in these guides? Also which guide do most collectors go by?
Check out auction listings that have ended recently......that might give you some idea at where you stand. The TPG'er values are always way over the top........grey sheet is dealer to dealer.
I look at auction results as well. I'm only seeing two that sold and that was last year. Both were AU-58 in NGC holders. They both sold for $5760.
Because each one uses different sources to come up with the prices they list. If they are wise they don't go by any of them ! Not a single one of them is accurate or realistic.
Your interpretation of the variations may be because you possibly are not aware of what the pricing means, how it is derived, and what the purpose/use is of the different publications. The 3 publications (4, if including Greensheet U.S. Currency) all reflect different pricing conditions. The publications are not strictly dealer to dealer transactions. The purpose and what the pricing means and what is the basis of the pricing published is clearly stated in each of the different publications. Just a brief example: The "June Market Review" is actually a Quarterly and the pricing basis is clearly printed on the top and the bottom of the front cover, and for the colonials section, at he bottom of the 3rd. page of the section, it is on the first page of the currency (green pages) section. The "July Greysheet" is a Monthly, and the pricing basis is again clearly printed at the top of the front cover, AND...using the July issue, expanded as to the purpose/pricing explanation on Pg. 17. The CAC Rare Coin Market Review, which is also a Quarterly, clearly states the basis of the pricing at the top of the front cover, AND...referencing the Feb./March/April publication...where/what the prices are derived from and what the pricing reflects. There is no boogeyman. There is no secret dealer to dealer cabal ripping off collectors. There is no double secret probation punishment. There is no Greysheet publication that is strictly dealer to dealer and restricts any and all other purposes of buy/sell market decisions. It is wise for EVERY collector/hobbyist/dealer/bidder/investor to understand the purpose of the different publications and all the publications offer very valuable information and guidelines . All are as accurate and realistic as modern price tracking can be in the market and very transparent of the pricing basis and how derived, and for a seasoned collector to state otherwise is ignorance at worse and disgruntlement with the modern collector market at best. I experience the misunderstanding of the various publications and their purpose and differences and why, on a daily basis. It is a tool. It is a good tool, when used properly. I know stuff. That is all I have to say about that. Don't hit me, and don't listen to me. I am old.
I try to keep it simple... ngc price vs pcgs price vs recent auctions... generally gives me a good idea what I'm gonna have to spend to get the coin I want
The real value is based on recent sales, not on what someone or some company or a grading services says it’s worth.
In general, I would agree. The issue becomes the subjective vs. the objective, vs. the the condition, vs. sight seen or unseen, vs. market pricing , vs. technical vs. market grade, and so many other variables, that recent sales do not equate to equality of like pieces. Thus, the value of using the 3 Greysheet publications together being a valuable tool, and whether or not the person is confident in their own evaluation abilities.
I was trying to keep it simple as the OP is fairy new and only had a few posts over the last 3 years but I agree.
I am a lurker most of the time on this forum. I check it out at least 2 times a day. I have been collecting for only about 10 years and I am OLD too. Thanks for the replies!
I always look at sold listings. It's a good indicator of what people are willing to pay, especially if recent results. For instance, I just bought a coin for $120. The NGC website price guides it at $225. But, when you look at the auction results for the coin, this coin has never broken $150. I tend to believe the market more than NGC on this one. Same scenario has played out at other TPGs.
If you notice on NGC's price guide, they list dates last updated underneath the coin on each row now. Some are within the week, some haven't been updated in years. Values can change drastically depending on what's going on in the world so anything not updated within the past 6 months or less can be way off. PCGS is usually high but I think keep their lists updated decent. At the shows, dealers will look at grey sheet and make you an offer for some small percentage above whats on the grey sheet. People can say the price guides are way off but I'm often shocked by how close they really are. If it's listed for 500 at NGC you're not getting it for 400. I was watching a $5 gold indian the past couple weeks that was listed on NGC at $900 value. The seller wanted $925 shipped. Yesterday the seller sent an offer out to all the watchers for $50 off dropping buy it now price shipped to $875. I was really itching to buy it and was thinking about it all day. When I went back to look at it after I got home, it was sold. $25 less than NGCs price guide and the seller lost shipping and fees out of it. But that's what it cost to acquire it. So the price guide tells you , you're not getting it for $800, but should be able to get it for somewhere less than $1k. That's all the guide can do for you. A couple years ago, probably could have bought that coin for $700 easily. Not anymore.
Like I said, look at the last date updated beneath the date of the coin. Some haven't been updated in years. Sometimes it'll go in your favor and sometimes not. I've seen many prices on NGC lately that were way lower than what sellers are asking on some pieces these days.
