looking for help see pics added? please i was wondering how a post ...i have a u.s. postal commemorative society silver dollar collection with coins and stamps put out by MBI's PCS for the commemorative society im trying to find the value of this to see if i should insure it or not. Read more: http://www.cointalk.com/t110762/#ixzz0pQd9SoBg
As per the previous post, it was suggested that each specimen (coin) is worth bullion value - $15 each. Multiply the number of specimens x $15. As per the stamps, I don't know the value of each. Perhaps search ebay to get a reasonable assessment for each stamp, then sum them up, and add to the total.
You will need to grade each of the coins to establish an insurable value instead of just a melt (bullion) value. One way would be to use PCGS Photograde http://www.pcgs.com/photograde/ - be critical rather than generous - and then go to their pricing guide http://www.pcgs.com/prices/default.aspx to establish a dollar value. Remember, these are retail prices which you will never get if you sell these coins to a dealer. They will be talking wholesale rather than retail. This is more of a replacement cost if you incur a covered loss
The PCGS prices that you recommended to this person are for slabbed specimens - not raw specimens. If indeed the OP wants to determine pricing based on grading, they can go to NumisMedia for raw specimens: http://www.numismedia.com/fmv/fmv.shtml I also recommend if the OP wants to pursue numismatics, they should obtain a copy of the 2011 United States Red Book.
That's why I said for the insurance purposes only. The insurance company will never offer the full insured value for a loss anyway. What they end up offering may end up being the fair value of the coins.
I'm not sure that recommending to a NOOB to use inflated pricing for insurance purposes is the proper thing. Some folks might perceive that as insurance fraud.
Questions of ethics are made on a individual level. I would agree that lieing about the insurance value is wrong. I would recommend searching around for a 'replacement value' of the set which will more than likely be a premium over just bullion. How many coins are in this set?
I have examined one of these a few months ago at a dealer who had paid $500 at the time ( silver was lower). The stamps were common and together the value was not enhanced by the accessory material ( postmark, etc.) I was offered it at $700, which looking at some of the coins might be a yes now, but a no then, so it was parceled out. Most went for melt value as common and worn, but a few were worth $30 or more due to condition. I bought a couple ( can't recall date and grade now). The more valuable years/mints are not included of course. If all of the coins were present, I think $1000-1200 would be a fair replacement value to me, as silver increases, more will be sold for melt, and thre will be fewer on the market. It is a nice appearing set, and sold for much more than its actual value. IMO. Jim Welcome to the Forum!
