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<p>[QUOTE="GDJMSP, post: 3211995, member: 112"]Surrey there's a veritable mountain of information that one has to know when it comes to establishing a "fair" value for coins. But I'll try and give you some basic guidelines. For one thing there is no such thing as a set price for any coin. That's because all coins are unique, each and every one of them. For example coin A may be nicer than coin B in one way, but coin B may be nicer than A in another way - and there's about a dozen different ways that can occur. What that means to you is that with any given coin there is going to be price range as opposed to a set price. In other words, any given coin isn't worth say $180 - it's worth anywhere from $90 to say $300 - or $150 to $275 - things like that. </p><p><br /></p><p>Another thing, when it comes to dealers it is extremely common for dealer A to be asking $100 for a given coin and dealer B to be asking $200 for the same coin. And dealer C might be asking $135. But you looking at all 3 can't see any difference between all 3 of them. But here's the thing, each one may be asking what actually is a fair price - or they may not be. </p><p><br /></p><p>And price guides ? In simple terms price guides are worthless when it comes to determining a fair value for coins. If you look at 10 different price guides you'll find 10 different prices for the same exact coin. And those prices may vary by as much as 200-300% ! So for the most part, you'll want to ignore price guides.</p><p><br /></p><p>And these basic guidelines, they apply to all coins, regardless of who made them, where they come from, what time period they are from, whether they are slabbed or raw. And there's a whole lot more that goes along with this.</p><p><br /></p><p>So how does one find all this stuff out ? It takes work and effort, study, research, and asking a ton of questions. Bottom line, when it comes to determining fair value your best bet is to research realized auction prices. And I don't mean ebay ! For most coins ebay's the last place you want to look to do that. That's because ebay is flooded with people who have no clue what they are doing - none at all ! And as a result of that ignorance more often than not they pay way too much for coins. So if you use what they paid as a reference - then you will too.</p><p><br /></p><p>What you need to do is use the large auction houses as your references or sources of info. This is because most of the time anyway, the people buying coins there actually do have some idea of what they are doing, and some of them are some of the most knowledgeable people in the field. </p><p><br /></p><p>Granted, there are some coins, mostly the inexpensive coins, that you're just not going to be able to find records for at the major auction houses. So with them, your best bet is to ask people, like here on the forum. But you have to realize, coin forums are just like the rest of the world - some know what they are doing and others don't - but they think they do. So a bit of care needs to be taken in determining who you should listen to and who you should not.</p><p><br /></p><p>Like I said, there's a mountain of things you need to know.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 3211995, member: 112"]Surrey there's a veritable mountain of information that one has to know when it comes to establishing a "fair" value for coins. But I'll try and give you some basic guidelines. For one thing there is no such thing as a set price for any coin. That's because all coins are unique, each and every one of them. For example coin A may be nicer than coin B in one way, but coin B may be nicer than A in another way - and there's about a dozen different ways that can occur. What that means to you is that with any given coin there is going to be price range as opposed to a set price. In other words, any given coin isn't worth say $180 - it's worth anywhere from $90 to say $300 - or $150 to $275 - things like that. Another thing, when it comes to dealers it is extremely common for dealer A to be asking $100 for a given coin and dealer B to be asking $200 for the same coin. And dealer C might be asking $135. But you looking at all 3 can't see any difference between all 3 of them. But here's the thing, each one may be asking what actually is a fair price - or they may not be. And price guides ? In simple terms price guides are worthless when it comes to determining a fair value for coins. If you look at 10 different price guides you'll find 10 different prices for the same exact coin. And those prices may vary by as much as 200-300% ! So for the most part, you'll want to ignore price guides. And these basic guidelines, they apply to all coins, regardless of who made them, where they come from, what time period they are from, whether they are slabbed or raw. And there's a whole lot more that goes along with this. So how does one find all this stuff out ? It takes work and effort, study, research, and asking a ton of questions. Bottom line, when it comes to determining fair value your best bet is to research realized auction prices. And I don't mean ebay ! For most coins ebay's the last place you want to look to do that. That's because ebay is flooded with people who have no clue what they are doing - none at all ! And as a result of that ignorance more often than not they pay way too much for coins. So if you use what they paid as a reference - then you will too. What you need to do is use the large auction houses as your references or sources of info. This is because most of the time anyway, the people buying coins there actually do have some idea of what they are doing, and some of them are some of the most knowledgeable people in the field. Granted, there are some coins, mostly the inexpensive coins, that you're just not going to be able to find records for at the major auction houses. So with them, your best bet is to ask people, like here on the forum. But you have to realize, coin forums are just like the rest of the world - some know what they are doing and others don't - but they think they do. So a bit of care needs to be taken in determining who you should listen to and who you should not. Like I said, there's a mountain of things you need to know.[/QUOTE]
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