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<p>[QUOTE=&quot;GDJMSP, post: 2506671, member: 112&quot;]And what exactly is it that you are confused about ? </p><p><br /></p><p>Person after person has told you that the values listed in Krause are no good, do you just not believe that to be true or what ? I don&#039;t think that is the case because you quote examples of it yourself. So you already know the values are no good.</p><p><br /></p><p>Or is it that you just don&#039;t understand why their values are no good ? </p><p><br /></p><p>There&#039;s several reasons. For one the Krause books are as a general rule only reprinted/updated every 3 years or so. Sometimes they have gone 4 or 5 years before a new edition was released. That said, even when a new edition is released, the prices and values in that edition may be exactly the same they were 10 years previously. That is because Krause does not update every single coin in their books each time they do an update. </p><p><br /></p><p>Another reason, as I mentioned before, is who Krause uses as the source for their listed values. As a general rule, they ask the same people over and over again every time they do an update. They have a list of dealers that they go to to get those values, then they simply print them in their catalog. Whatever that dealer tells them is the value for a given coin, that&#039;s what they put in their catalog.</p><p><br /></p><p>Now, how much do you about dealers and their asking prices for given coins ? If you&#039;ve ever done any research what you would find is that with any given coin it is quite common for 5 different dealers, or 10 different dealers for that matter, to all have radically different asking prices for the very same coin in the very same grade. And here&#039;s an example of what I mean by radically different. Dealer 1 might be asking $75 for a given coin, dealer 2 $125, dealer 7 $250 - and all for the same given coin in the same grade. And all the others are somewhere in between. And they don&#039;t ask all 10 of the dealers and take an average, they ask 1 and use his number. So if they ask #7 and he says $250, but #1 has the exact same coin for $75 - how much is the coin actually worth ?</p><p><br /></p><p>You see, dealer asking prices are meaningless when it comes to determining the value of a coin. The dealer can ask anything he wants. He may be upside down on the coin and refusing to come down because he made a mistake and paid too much for it. This kind of thing happens every day. So he&#039;ll hold onto the coin until some buyer comes along and makes the same mistake he did.</p><p><br /></p><p>Couple those two things together, along with market prices that can radically change in a few months let alone a few years, and you begin to understand why the Krause values are no good.</p><p><br /></p><p>As for different degrees of disparity from country to country, good lord, there&#039;s often huge differences of disparity for the coins of the same country, let alone two different countries in the Krause catalogs. </p><p><br /></p><p>Bottom line the values in Krause are no good. You should never trust them or have any confidence in them. Nor should you in any other price guide for they all suffer from the same things.</p><p><br /></p><p>Let me give you an example. Here&#039;s the listed values from 10 different price guides for a given coin in MS65. It takes 2 sceen shots to get them all.</p><p><br /></p><p>[ATTACH=full]532578[/ATTACH]</p><p><br /></p><p><br /></p><p>[ATTACH=full]532579[/ATTACH]</p><p><br /></p><p><br /></p><p>Look how wide the variances in values are between different price guides - from $330 to $530 - all for the same exact coin. Not just another like it but that specific coin. So which one do ya trust ? What&#039;s that coin actually worth ? You have no idea because you can&#039;t have any idea given that information.</p><p><br /></p><p>Now the same thing happens if you throw the Krause value in there, but it&#039;s gonna be different than any of those. Maybe hugely different.</p><p><br /></p><p>Are you beginning to get the picture ? </p><p><br /></p><p>But if you look at actual realized prices for that same coin, same grade, you see a completely different picture.</p><p><br /></p><p><br /></p><p>[ATTACH=full]532580[/ATTACH]</p><p><br /></p><p><br /></p><p>THAT you can work with ! That has a price variance of $60 from high to low - not $200. That tells you something, gives you a real world idea of the value of the coin.</p><p><br /></p><p>So take all the values in all the price guides and just throw &#039;em out. The only information that is of any real use to you are actual realized auction prices. Everything else is just numbers that comes out of somebody&#039;s head.[/QUOTE]</p><p><br /></p>

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