As a newcomer, I have been tracking ebay sales to get a sense for actual coin values. Although prices obviously can vary quite a bit from coin to coin, the average auction sales price seems to come in around 70% of the prices listed the PCGS and NGC websites. Any comments? Is that about right? Thanks!
NOT an offer to buy ( it is against the rules ), just an example of how skewed it is. I am willing to pay 10% OVER PCGS price guide for 1909-P Lincolns in 64 RD and above when I search coin shows and the bay. Sometimes they get it right, sometimes they are pretty liberal. For the most part, auction results work for me.
Have you used Heritage? What is the skinny on that auction site? Seems like a cadillac compared to ebay's Ford. I assume you can have more confidence buying from them (buy also pay that premium charge). The again, maybe not. I am learning to have a healthy skepticism in this hobby . . .
You still pay a premium on the bay either wrapped into the price/shipping or by getting burned. Heritage is just up front about it.
Do you then turn around and sell the Lincolns for profit or are you strictly a collector. If you do sell them do you mind if I ask where/how? No need to be specific. Just curious. Thanks.
HUH! Noost you have to be kidding. The current auction is chock full of fantastic coins. The Louis Bassano collection of US Commemoratives is absolutely phenomenal. The MS67 Lafayette Dollar is stupendous. Try finding a Pilgrim that looks like this one. http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1473 I don't know exacty what you collect, but there are still many, many, premium coins in the current sale.
"70% of listed PCGS price/value about right?" It depends on the series. For most modern series it's about 50% of listed value, but for PMPL Morgans it's over 100% of the listed value.
Yes, "it depends" is the best post on this thread. Thus, a flat rule like "70% of PCGS" will be wrong more often than right. Learn a given series. Look all over for prices. Watch the transactions for a while. Use wisdom, experience, and judgement to make an educated estimate (SWAG = scientific wild @$$ guess). Some coins simply don't appear in certain markets i.e. no 1804 S$1 on e-bay, no common date circ Lincolns at Heritage. Shop the appropriate markets.
It all depends on what type of coin you're looking at. I would suggest that 70% is too high if you're talking moderns, and 70% is too low for quality classic coins. However, 70% sounds about right for most average-for-the-grade widgets sold in auction.
It varies depending on the series and on the rarity and grade. I find that a lot of dealers are definitely pricing PCGS-slabbed coins off of the PCGS price. For instance, PCGS may list a coin for $775 and the dealer is offering it at $725. The dealers will tell you otherwise, but I think that's the case. Of course, that doesn't mean you can't offer less.
