How do you value a coin that the Standard Catalogue of World Coins has no price for?

I was looking to bid on a Bolivia: Charles III gold 8 Escudos 1783 PTS-PR MS61 NGC, however to get a general price I looked it up in the Standard Catalogue of World Coins, but they have only pricing up to XF40 ($1,900) and the coin is MS61. Price now is $2,800 with fees. I know something is only worth what someone else will pay for it, but I needed a slightly more solid plan, as this would be the most expensive coin I have tried to procure.

Thanks!
rad1964

 

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NGC's website only has it to XF as well. I imagine not many have been sold in the past but is there a way you could look up prior sales?
Beyond that, I would say like you said "It's worth what someone will pay for it".

https://www.ngccoin.com/price-guide...dos-km-59-1778-1788-cuid-1035013-duid-1271591

 

Not exactly about your query but more the catalog. It can be hard at times trying to find certain items. The Palembang (Indonesia) Tin Pitus can be found in over 400 varieties but the catalog lists only two. Frank Robinson sells these in mixes and has made a book about them. But not knowing you can get the book for $5.00 from him, you might be searching to the ends of the earth to learn anymore.

 

As someone who has had nothing to do with TPG's, I have to ask, if NGC graded it as a MS 61, why does their website stop at XF as a price guide? Is it because none have sold at this grade previously?

 

I can't think of very many world coins I have found and purchased at book value. I find them under book more often than you'd think......but mostly over book. Sometimes over alot!

I almost always at least look them up.....but in my opinion as much as we might not want to admit it EBay current ask and recent sales are setting real coin prices. If you deny this you are fooling yourself.

In your case if you can't find anything historical....than what's it worth to you? You set the new "recent sales" price. Start by asking the seller if he is firm? Go from there.

Never know ...next week some other guy will be using your buy to determine what he should pay.

 

They have a NGC provided guide at the bottom of the page and they list this as the only MS61 (I must assume) https://coins.ha.com/itm/bolivia/bo...-escudos-1783-pts-pr-ms61-ngc-/a/3091-32284.s
Also one previous price in 2013 at AU58 for $3,290.
HA Auctions Estimate: $1,500 - $2,000. (now we know this is going for almost twice that)
I'm thinking, my realistic price zone would be between $2,750 to $3,750, so a bid of $3,000 bid will cost me $3,600 (20% fee) and I do look at eBay for certain coins, especially my world proofs, because they really sell for way more on eBay.

 

You can also check sold items on Ebay. AC Search and CoinArchives are
also useful tools. During this time, (COVID19), you may have to put in a
bid that is multiples of the starting bid to have a chance. Ancient and World
coins in most areas of interest, are WHITE HOT!! Bid what you can afford
including fee's, shipping and transaction (PayPal) fees.

 

This is what I do - I'm not sure if the mintages of the coins in the series in question are known but for sales of niche coins, ebay and what I see at shows for coins of the same denomination gives me a rough guide.
There are specialist guides of course but they're not getting republished every year or two.

 

The world coin data on the NGC site is provided by Krause, the publishers of the Standard Catalogue.

 

I didn't know that! Learn something new every day

 

That's what I'd do, along with exhausting other avenues.

 

Heritage has 2 in past auctions; an MS62, and an MS63. They sold for $5462 and $6325 respectively, back in 2011.

Ebay has a 61 currently for $25K, which seems absurd.

So basically what I'm saying is; it's a crapshoot. It's worth what you're willing to pay for it.

 

Those 10 year old prices should tell us something.

 

I'm thinking this ain't a cheap coin, yesteryear, today, or tomorrow.

 

Have used the NGC/Krause online World Coin Priceguide quite often...it has it's quirks and certain limitations like most, but generally it's been quite helpful. Worst part has been that when you have a question or suggestion, a problem, etc., NGC points fingers at Krause and when you contact Krause, it's an NGC issue.

 

To some extent. The market changes a lot in a decade and being that old really is just general something at best. Any time the last sale is that old there’s a decent chance the price could jump but you are right that it shows it’s not something that comes around very often.

 

Forget Ebay for pricing this material. Best bet is to look at Heritage from PR for similar material. Your Chas III, 1783 sounds like an interesting coin, it has the earlier Bust style unlike the much more common material struck around 1805 or later. Also Dan Sedwick sells a lot of this material.