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<p>[QUOTE="GDJMSP, post: 2008446, member: 112"]I don't know why it's hard for people to understand that there is no coin that is worth a set amount of money - not one. That just isn't how it works, and that is what Amanda was trying to illustrate. She posted 4 examples of the same coin, in the same grade, and they all sold for different amounts ranging from $202 - $350. That's a 75% increase of one over the other. This is typical of ALL coins, in any grade. And sometimes the percentage increase is even higher.</p><p><br /></p><p>The situation the OP described is also very common. As are his feelings about that situation. So why is that ? Simply put it's usually because people will look at the Grey Sheet, or maybe realized auction prices, or maybe some other price guide, or maybe even a combination of all, and as result of that they expect the coin they currently looking at to have an asking price similar to what they saw in the Grey Sheet, or whatever. But if it isn't a similar price, particularly if it is higher, then they wonder why it is higher. And some will assume it is higher because the seller is not, shall we say, on the up and up.</p><p><br /></p><p>Well, sometimes the seller isn't on the up and up. There are unscrupulous people out there, that is a fact. But it is a huge, huge, mistake to assume that they are all unscrupulous just because of situations similar to that being discussed in this thread.</p><p><br /></p><p>No two coins, even of the exact same grade, are equal. One of them will almost always be nicer than the other. And since it is nicer it is worth more money. How much more depends on the person buying the coin, not the person selling the coin. Sellers can ask anything they want, but the buyers are the ones who control the purse strings. The buyers are the ones who set, who establish, the prices because of that. Now if that particular person wants that particular coin at that particular time and he wants it very, very, badly, and he has been looking for one for a long time then he is likely to pay more than the coin is really worth. If he barley wants it at all then he is only going to pay less than what is being asked. Especially if that coin is just average for the grade or low for the grade. That, those things I just described, is what establishes the price range for any given coin.</p><p><br /></p><p>So, when you look up a coin in the Grey Sheet the number listed there may be $70 just like it was in the OP's case. But, the coin you are currently looking at, same coin same grade, may only be worth $50, or it may be worth $350. <u>It depends on the coin !</u></p><p><br /></p><p>Now I know that just doesn't seem logical but it is logical, very logical, because no two coins are equal. So are the numbers in the Grey Sheet no good ? No, that is not true. The numbers in the Grey Sheet are accurate, but they are only accurate for that SPECIFIC coin at that SPECIFIC time. There is a dealer offering to sell that specific coin, in that specific grade at that specific time. And if you agree to meet his asking price the coin is yours, in this case $70. But does not mean that the coin, same coin same grade, at the show dealer's table is not worth $350. It very well may be, or even more.</p><p><br /></p><p>And it's not because the Grey Sheet is dealer to dealer prices either. I know of many, many dealers who sell coins directly to collectors at Grey Sheet prices and they do it every day. They don't care who the buyer is, they only care what their Ask is. And if you will meet their Ask they will sell you the coin, no matter who you are.</p><p><br /></p><p>Bottom line you cannot look up any coin in any grade in the Grey Sheet, or in realized auction prices, or in any price guide, and expect to pay that same amount for that coin. It just doesn't work that way. It never has and it never will. There is a price range, sometimes a very wide price range, for any given coin. Your job as the buyer, the collector, is to try and stay within that price range. And if you do that then you have paid a fair price, assuming you like the coin.</p><p><br /></p><p>Sounds complicated, and yes, it is. But it is, what it is. Coins are not like shares of stock that all sell at the same price. They are not like produce or cans of soup in the grocery store that all sell at the same price. Coins are not commodities, they are coins, collectibles. Every one is unique, different, and worth different amounts. And because they are collectibles they have emotions attached to them and emotions can cost you money. And if your emotions are different than those of the guy standing beside you then it may cost you more, or less, that it would for him. Or the next guy.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 2008446, member: 112"]I don't know why it's hard for people to understand that there is no coin that is worth a set amount of money - not one. That just isn't how it works, and that is what Amanda was trying to illustrate. She posted 4 examples of the same coin, in the same grade, and they all sold for different amounts ranging from $202 - $350. That's a 75% increase of one over the other. This is typical of ALL coins, in any grade. And sometimes the percentage increase is even higher. The situation the OP described is also very common. As are his feelings about that situation. So why is that ? Simply put it's usually because people will look at the Grey Sheet, or maybe realized auction prices, or maybe some other price guide, or maybe even a combination of all, and as result of that they expect the coin they currently looking at to have an asking price similar to what they saw in the Grey Sheet, or whatever. But if it isn't a similar price, particularly if it is higher, then they wonder why it is higher. And some will assume it is higher because the seller is not, shall we say, on the up and up. Well, sometimes the seller isn't on the up and up. There are unscrupulous people out there, that is a fact. But it is a huge, huge, mistake to assume that they are all unscrupulous just because of situations similar to that being discussed in this thread. No two coins, even of the exact same grade, are equal. One of them will almost always be nicer than the other. And since it is nicer it is worth more money. How much more depends on the person buying the coin, not the person selling the coin. Sellers can ask anything they want, but the buyers are the ones who control the purse strings. The buyers are the ones who set, who establish, the prices because of that. Now if that particular person wants that particular coin at that particular time and he wants it very, very, badly, and he has been looking for one for a long time then he is likely to pay more than the coin is really worth. If he barley wants it at all then he is only going to pay less than what is being asked. Especially if that coin is just average for the grade or low for the grade. That, those things I just described, is what establishes the price range for any given coin. So, when you look up a coin in the Grey Sheet the number listed there may be $70 just like it was in the OP's case. But, the coin you are currently looking at, same coin same grade, may only be worth $50, or it may be worth $350. [U]It depends on the coin ![/U] Now I know that just doesn't seem logical but it is logical, very logical, because no two coins are equal. So are the numbers in the Grey Sheet no good ? No, that is not true. The numbers in the Grey Sheet are accurate, but they are only accurate for that SPECIFIC coin at that SPECIFIC time. There is a dealer offering to sell that specific coin, in that specific grade at that specific time. And if you agree to meet his asking price the coin is yours, in this case $70. But does not mean that the coin, same coin same grade, at the show dealer's table is not worth $350. It very well may be, or even more. And it's not because the Grey Sheet is dealer to dealer prices either. I know of many, many dealers who sell coins directly to collectors at Grey Sheet prices and they do it every day. They don't care who the buyer is, they only care what their Ask is. And if you will meet their Ask they will sell you the coin, no matter who you are. Bottom line you cannot look up any coin in any grade in the Grey Sheet, or in realized auction prices, or in any price guide, and expect to pay that same amount for that coin. It just doesn't work that way. It never has and it never will. There is a price range, sometimes a very wide price range, for any given coin. Your job as the buyer, the collector, is to try and stay within that price range. And if you do that then you have paid a fair price, assuming you like the coin. Sounds complicated, and yes, it is. But it is, what it is. Coins are not like shares of stock that all sell at the same price. They are not like produce or cans of soup in the grocery store that all sell at the same price. Coins are not commodities, they are coins, collectibles. Every one is unique, different, and worth different amounts. And because they are collectibles they have emotions attached to them and emotions can cost you money. And if your emotions are different than those of the guy standing beside you then it may cost you more, or less, that it would for him. Or the next guy.[/QUOTE]
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