I subscribe to Numismatic News. Every month, they print a great price list, on US coins. I have used this, as a tool, to bid on mostly, Morgan Silver Dollars. I know there is a Grey Sheet, NGC, and PCGS listings online. If anyone had experience using the Numismatic News one...... How do you believe it fares against true current market value? Does it rate up there with being good, better, or best. I get conflicting pricing at times, of course. Especially when bidding on E-Gay. Thanks!
All price lists are wrong. For coins that sell frequently enough, your best guideline is recent auction results, and, even then, you need to take into consideration the characteristics of the individual coin. Is it a high end coin? Maybe you'd like to pay more for it. And, vice versa for a low end coin.
I agree with the others. One thing you have to remember about price lists posted in NN, CW and other coin mags. These periodicals make the bulk of their profit from advertisers. If they posted values that are lower than advertisers' prices, what do you think their advertisers would do? Chris
Published price lists are wholesale tools for dealer-to-dealer connections, to give them a sound basis for sales to each other. "Retail" price lists are what they want you to pay. I research prior sales, factor the relative condition of the coin in question to the indications of the results, and pay what people are actually paying today for similar coins.
No wonder they call it a "grey" sheet.....geez. Guess like anything else, it's worth what's someone is willing to pay for it. Sure makes things difficult. Leave yourself a cushion then? What %? Thanks!
I would agree with all the above that published prices are over inflated. But if I were to rely on the Grey sheet prices, I would be overbid every time.
I use a price guide as just that, a guide. I expect the price of said coin in said condition to be within X% of this. I've gotten some good deals over the years, I've overpaid on a few too. A coin is worth only what you are willing to spend on it, all factors considered.
+1. I have gotten what I consider to be good deals on coins I paid way over 'sheet for. Of course, I've gotten some just plain good deals, too. My collecting motto is that I'd rather pay a fair price for a great coin than a great price for a fair coin.
A guide is critical, particularly for the novice. You have to benchmark your purchase (or sale) against something and a decent guide is a great jumping off point. I use numismedia.com He's always been within about 5-10% of where I was hoping to land after more detailed research.
