Check this one out, coins graded by SGS @ PR70 but posting prices from PCGS. http://www.bid4assets.com/auction/index.cfm?auctionid=144935
Hmmm in my experience PCGS coins do not sell for the PCGS prices on that website...for that matter, neither do any other coins. Price guides that show unrealistic high prices like that only hurt the hobby. For one thing they allow scammers to abuse the system as shown in the auction above. Secondly, the prices are just wrong. You can buy coins...PCGS and otherwise...at coin shops and shows across America for far less than most of those prices. Just my 2 cents. Nick
Let's just suppose that I sold coins. And let's also suppose that I published a "price guide". Now, would I be better off if I offered my coins for sale above, or below the prices in the "price guide"?
Since price guides are "SRP's" (Suggested Retail Price) then you will more than likely sell below. How often do cars sell for MSRP? somtimes but not often. You will always have the people that want something no matter what the price is, but most people want a deal.
Jody, This guy must write his own price guide Opening bid is $175. Pay attention to the sellers name http://www.bid4assets.com/auction/index.cfm?auctionID=145707&tab=2#tabRow
If this guy gets $175 for two Flying Eagle cents in the condition of the picture I am going to be selling every coin I have on these internet acution sites. I see he also has a $5 gold coin that will take a prayer to reach the minimum bid. Where are the these guys getting their prices? ripmeoff.com (hey don't laugh, that is an actual site. Go figure!
I actually charge more than most for shipping. Of course I ship everything UPS or Priority, so that my customers actually have their purchase in a few days instead of weeks. Now charging $5 or more for an envelope and stamp is a bit much. More power to the guys who get it.
A few weeks? Are most of your customers in Fiji? I usually just ship stuff USPS first class with delivery confirmation -- with the cost of the bubble mailer and enough bubble wrap to make the package 3/4" thick, it's maybe two bucks plus insurance. And it still almost never takes more than three business days, occasionally four.
I also saw this auction on bid for assets.......Question? Was any of the prices the seller quoted legit, I mean, if he actually had a 70 graded coin? Or was the whole thing bogus?
The auction was not bogus, just the information in it. To use PCGS pricing on coins that are no where near graded by the same standards as PCGS is bogus. Those coins MAY have reached a grade of 67 -68 by PCGS, SGS just likes to grade everything MS70. When you are talking a 3 grade difference, in high grade coins, you could be talking thousands of dollars per pt.
ziggy, you have to take into account that the majority of my inventory is not at most of the small collector price range. Shipping first class by the post office may be fine for some, I would be scared to death to ship something like this via first class at the postal service. I will make all the members here a deal. Any coins you purchase will be shipped by the cheapest means possible.
