Ok guys, I have a question on how to value your proof-like coins. How do you determine the price of a coin in a given grade when it has a proof-like designation along with that grade? Say I have a 1909-P Barber quarter thats MS-62 PL, not a normal series to see PLs on, so how would you value it for buying? Lets assume the coin is solid and attractive for the grade given? I know people usually have a good idea on how this applies to the Morgan Series, but I specifically need to know about other coins that arent Morgans and how much of a premium (or lack there of) you should/could expect on proof-like coins? My starting point would be numismedia and I would find that a 1909-P in MS-62 is 'worth' $288, from there I typically deduct 20% and thats my high range of my bid. On a proof-like I would likely play in the 95%-115% range, so looking to get the coin for like $280-$325. Any advice to give on my methodology, or anything to look out for?
I'd do the same thing I do with any coin, I first check the records on Heritage. I did just that with the coin you mentioned - there are none. And not just for that date, but in any date. I found that odd. So I checked the NGC pops. NGC list a few PL coins for dates from 1892 to 1902, but none beyond that. PCGS doesn't list any that I could find, but I don't have access to their most up to date pops. So what do ya do ? Well, about all you can do is guess. When it comes to coins that are true rarities, or condition rarities, it's often difficult to estimate value because the market is so thin. At that point it becomes more a matter of how badly a collector wants a given coin and how deep his pockets are. It is not unusual to see rarities sell for double their previous sale number, or the opposite, half their previous sale number. I have seen it happen both ways, even when the two sales in question occurred in the same year. So it is always a guess, a crap shoot, when you are talking about thinly traded coins. There just aren't enough records to establish a market for those coins. And the few records that do exist, are based on the whim of a particular collector at a particular time.
