Message:

<p>[QUOTE=&quot;GDJMSP, post: 3018945, member: 112&quot;]That very question is why price guides exist. Put another way, most people are in the same boat you are - they have no idea what the real world value of a given coin is. And that includes a lot of folks who consider themselves experienced and some even advanced collectors. </p><p><br /></p><p>To know the real world value of a coin you have to know the market. And that&#039;s not a simple or easy thing to do. And it is why dealers spend a ton of money subscribing to the electronic coin markets - so they can learn the market and check on any coin at any time. Do that for a period of years and you get to learn the market. After that you still have to keep up with the daily changes.</p><p><br /></p><p>About the best thing that a collector can do is to watch and study all of the realized prices from the major auction houses. Doing this gives the collector a rather wide price range for any given coin. To learn how to narrow that range down you have to first learn how to judge coins. You can say grade coins if you wish but judge is actually probably the better word because what you have to do is compare the coin you are thinking of buying to other coins like it that have previously sold. The reason this is so important is because no 2 coins are ever equal, even when they are graded exactly the same and by the same TPG. </p><p><br /></p><p>Say you&#039;ve got 2 Morgans, both the same date/mint, and both graded 65 by the same TPG. It is not uncommon for one of those coins to be worth hundreds, and maybe a thousand or more, than the other coin is.</p><p><br /></p><p>Reality is very few people can do this, fewer still take the time to do it. And that&#039;s why most rely on price guides - which is arguably the worst thing they can do.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in