Message:

<p>[QUOTE=&quot;Drusus, post: 398697, member: 6370&quot;]Certainly there are cases where people simply do not have even a clue as to the the rough value of something they are looking to buy but the plain fact of the matter is, values are arbitrary plain and simple...on forums when someone asks for a value or a price that can be expected I always give a middle ground between book and auctions (mostly auctions and realized sales for the type of coins I am interested in)...but again...that is still arbitrary and can end up being unrealistic more or less. Knowing what the price SHOULD be still may not be realistic. Its just not as simply as &#039;some people just dont know what they are doing when they pay more than you think a coin is worth.&#039; In some cases it is, in other cases you can educate yourself till the cows come home but you cant predict the market and in the end, it dictates prices and is ever changing.</p><p>&nbsp;</p><p>I would contend that a coin is worth how much a person can get for it, no more, no less. The value is set by how much a person will pay. Any source you would use to value a coin is subjective to those who are compiling that source and how they are computing the worth, often arbitrary. The only real way to set a real value on a coin is to look at the market itself and how much people are buying them for in the real world...thus auction prices and prices others are willing to pay for it are the only real reliable factors. I would never pay hundreds for a modern US penny...others would...how much they are willing to pay, in the end, sets the price for that penny. Most price guides are simply suggestions some people are making as to what they think they should go for...what someone thinks is fair using past sales or rarity as a basis...no more no less. </p><p>&nbsp;</p><p>You can THINK you know the value of a coin and decide you will not pay more so you don&#039;t get taken and shake ones head at the uninformed who are paying what you think are high prices but if its hard to find and several people are wanting it as its a great specimen, the value will be set at the end of the auction plain and simple, you might not think its worth what the person paid for it, but that person walks away with it and you are without. Its like with notgeld, there is no real set price guide for these that are realistic, prices in the end fluctuate wildly...what one can buy in Germany for cheap isn&#039;t always easily found in the US...real world factors like these will set prices. Notgeld are supposed to be, on the whole, rather cheap and plentiful but try to find a dealer at a coin show in Houston that even knows what they are let alone sells them and you will understand what mean.</p><p>&nbsp;</p><p>I once saw a medal that I thought was outstanding...I started bidding and the price went very high. I thought to, as mentioned here, educate myself so I don&#039;t pay too much so I ask some others I see as more knowledgeable about medals and prices and they quote some book prices for it...these prices they quoted were well lower than what the price went to in the end. I didn&#039;t go higher because I figured I didn&#039;t want to pay too much...happy that I didn&#039;t get taken like the uninformed other sucker who paid too much for the medal. I have never seen this medal for auction or for sale anywhere since. I now wish I had kept bidding.</p><p>&nbsp;</p><p>As for &#039;problem&#039; coins...and knowing what is or isn&#039;t problem coins...that term is so subjective (and always will be) it is almost laughable to see it used...certainly there are the objective obvious problem coins but often, to one person, a problem coin is one that has small marks when you magnify it X amount of times...others couldn&#039;t care less what it looks like under a microscope as long as it has great eye appeal...some people think a light rub with a soft cotton cloth will scratch metal to the point of ruining the coin!! Its very subjective and as much as people would like to enforce their own way, they just cant and that&#039;s good. Some of the things I have heard so called experts and well informed collectors say defy logic and are down right absurd, I don&#039;t want them dictating standards.[/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