Everyone, I am a long time viewer of the postings, and learn a little bit each time I read through the posts/replies. My question is the about determining value. There appears to me to be four classifications of value: Face Value (FV) of the coin I presume simple enough to understand. Intrinsic Value (IV) of the coin. Again I presume simple enough to understand. What I have seen is the differing IV thought process between a seller and a buying. Numismatic Value (NV) which opens the door to numerous parameters to determining a dollar amount: condition, rarity, liquidity, and demand. Others? Some are subjective, condition. Others are objective, rarity (until a hoard is found). And then there is Emotional Value (EV). This sort of takes the NV and ratchets the perceived value up because grammy, grampy, or other person had some sort connection to the coin. How do you deal with a person who is putting an enormous EV on a coin, but still will part with it? Thanks for reading. Let the discussion begin! Hawkeye
stick to the NV. the person that puts high EV is usually not ready to sell it and will throw out a higher EV value than the actual NV prices values. it also goes along with supply and demand. how big is your own demand for this coin ? on a higher demand coin pay a little extra, but not way over. only you can determine that. I myself have paid more just because of a rarer grade. if it is a common coin then no do not pay more that its NV. wait for other opinions...
There is only one value that every collector should be concerned with, and that is an agreed upon price between a seller and a buyer. Everything else is just rhetoric! Chris
I personally try not to buy from people who allow their EV to supersede the NV. In such an instance, I try to politely tell them that it's really not worth that much and wish them well in selling it elsewhere. Otherwise, the only value a coin has is what someone is willing to pay for it. I've overpaid and underpaid for coins, but ultimately I set the price for the coin when I handed over the money. There are systems that help set the NV of coins, but that system ends at the end user: the Buyer.
It's kind of a loaded question. I still have the 1923 Peace Dollar my grandmother gave me when I was 12. Common date and not B.U. No reason for me to part with it. But I believe if it were a 1928 high grade Peace Dollar, I probably would have sold it. Once big dollars are attached to a coin the EV takes second place most times. IMHO.
There is no emotional value price guide. Nor could one exist, because "EV" encompasses nothing but the utterly subjective. Each of us would have to print their own individual "EV Red Book." But not one of them would matter in a marketplace. EV is a subjective value. FV, NV and IV are the most objective values possible and subject to market forces. If someone wants to sell a highly emotionally valued coin, that person needs to let go of any notion of EV.
