Thank you for listening to my recommendations and adjusting the Franklin prices. In late October, I sent an email to Steve Roach, editor of the CoinValues magazine. I informed him of the incredibly erroneous and extremely exaggerated values the magazine had listed for Franklins, especially FBL Franklins, and gave him example after example of recent purchases at fractions of the listed values. He quickly responded, saying: "Hi Jason, Thanks for the note. In taking a look at the prices, I agree that they’re off in many places for FBL Franklins. I will review and adjust them over the next two weeks to make them more reflective of the market. Then, I hope that you provide me with further feedback on them based on your experiences in the marketplace. Best, Steve" I just purchased the latest edition of CoinValues (cover date February 2010), and I'm extremely pleased to say that not only did he keep his word - he did an excellent job. The values listed for FBL Franklins now closely reflect current market trends, and I would have no hesitation in recommending anyone pay CoinValues prices for most FBLs listed. Comparing my previous copy (cover date September 2009) and the one I just bought, values have been cut well over 50% for many coins. Using my collection as a reference, the values listed have been cut on average 58% - and the values listed are now within 2% of what I actually paid for my collection overall. As a comparison to other guides - the PCGS price guide is about 40% higher than what I actually paid, Numismedia retail is about 20% higher, and Tomaska's advertised prices in CoinValues (on the same page as the Franklin prices), is about 230% higher than what I paid. In conclusion, good job to the editors of CoinValues. Thank you for listening to me. Jason
Thanks for sharing your good news story. If no one takes the time to point out such major discrepancies nothing will change. Good Job :thumb:
I will say this, Steve Roach does a much, much, better job of presenting realistic information in his columns than the former editor did. I think a great many of the prices in the magazine still need adjusted, but then he gets the information from his sources and reports it. Problem is - his sources. Perhaps if more would do what Jason did, a lot of things might change.
When I use Coin Value prices for a guide I halvethe cost and add %10 to %15 to that figure. I feel that that is generally a fair price for me to pay. Of course exceptional coins call for exceptional prices. CV quotes $100. I say $50 + $5 or $7.5 = $55 - $57.50. It works for me. Bruce
I know there are/were some serious valuing errors in CV. In my case I was wondering where they got some of their values for high grade Jefferson War Nickels. I ignored them and used another source when it came to bidding. But I never took the extra step of contacting CV. Thanks for your post. It's nice to know it can be done and acknowledged.
Previously, for FBL prices, I would do exactly the same. However, doing that with the old prices would, in most cases, land you pretty close to the new prices. I keep my finger on the pulse of the Franklin market - the new values are very close to what things are going for these days.
I take half the difference between the greysheet Bid and CV and add that to the greysheet Bid. (CV - Greysheet Bid)/2 + Greysheet Bid = Maximum Price THAT'S my max. Naturally I shoot for prices less than that. Of course if CV seems way out of whack, then I look for other listings of retail prices for this calculation.
But I find that this doesn't generally work on TeleTrade. When I calculate my MAX price I then subtract the buyer's fee and S&H. That's what I bid. I win about 5% of my bids on TT. I suspect many people don't take into account the buyer's fee and S&H. Took me a couple wins to remember to do that. Sticker shock finally got me straightened out.
As a >10 year internet buyer/seller, I'm completely in agreement, even the C.D.N. "Greysheet". I'll use the "Greysheet" as a basis for the initial bid when selling, but watch the prices paid by eBay buyers to determine the average value for Snipe bidding on specific coins of interest. The publications are virtually always "out of phase", and many times influenced by the "dealers" who advise pricing to justify their listings.
You'll want to be careful about putting much stock in what ebay buyers pay to establish value. Too many of them have no idea at all what they are doing and thus pay way more than an item is actually worth. That is why the realized prices from the auction houses are a much better guide line - their buyers are typically educated buyers who do not over-pay.
Need help, New year res. Finishing my ms 64 fbl franklin set. What do you guys think of r&i coins? Are his prices reasonble? Some seem kinda high. I know his complete set of proof ike, nomaly go for around 400, he has deep cam ++ set going for 1200. He always advertises better quailty. As anyone dealt with him? is it worth paying extra $?
His prices can be kinda steep, but then he often has coins you won't find elsewhere. He's a reputable dealer, but only you can decide if the coins are worth his asking price for you. I've bought coins from him before, quite a few years ago.
As an eBay "Power Seller", other than what appears to be obvious shill bidding on eBay, I've found the buyers to be very conservative. In light of the eBay fee structure, I will generally start "Top Tier" certified coins, back 5-10% of C.D.N. bid, and virtually never close my "no reserve" auctions with a price above C.D.N. ask. It has been my past experience in major auctions, I believe because of buyers fees, that buyers were appreciably "underbidding", often to my benefit. I'm not current on major auctions, so my knowledge may be outdated, but I'm very current on eBay. I've won bets on uninvolved eBay auction outcome, based on average consumer actions. I may have observed different type coins because my major interest is in 4+ figure relatively scarce coins. However, my sales of better date Silver coins have consistently been a "loss leader".
rich if you're trying to say that coins often sell below true value on ebay - I'll grant you it happens from time to time. But usually there is a reason if it does. Poor pics, bad timing - whatever. But I would certainly say it is not the rule for that to happen. Of course that could also be dependant on what you think true value is.
