If You Were The Dealer...

That's part of the exercise in this thread. Theoretically, by selling at a well-publicized auction for $42K, this coin's market price has been set and its value is no more than $42K. But practically, since markets aren't always "efficient," it's possible to find an underpriced bargain for one's inventory. For this coin, which of the two possibilities is more likely?

 

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Beats me.

I am not familiar with it or it's market.

Not all buyer follow auction prices or even care. Some of my buyers don't even own a computer.

 

I would gladly sell for a loss at 21K. Payable at face value in US gold coins only. No sales tax using US currency at face value and a capital loss to use in other transactions.

 

Yes, but the 'list' price is a ceiling. If you add 10% or 15% and don't sell for a few years, inflation and cost of capital kill your profit. It's not hoping the price goes up, but protecting yourself in case it does. Problem is not scaring away customers with crazy prices.

 

You might think that, but the IRS and your state government would be entirely unconvinced.

People still try to do the "pay $XXX in US legal tender silver coin" tax-evasion scam, and they still get sent to prison for it. Don't ask me to argue the legalities, as it's baffling to me, but the legal precedent is ironclad.

 

Paid $42,000 and sold it off at $115,000. Someone else paid $73,000 for the "plastic tax." Perhaps it's time to encase my collection in precious NGC resin and turn my $10,000 personal collection into $30,000 in NGC precious resin.

 

Wow........

 

I had the same reaction yesterday when I checked up on the coin. No joke, I'm seriously considering sending in my better coins to NGC. Not a fan of the plastic slab, but it would come in handy for my family to sell after I shed my mortal coil, especially if they'd benefit from some fool paying the plastic tax.

 

What is the NGC charge to slab a coin in this price bracket? I know they go up at some point but since I don't collect expensive coins or coins in plastic, this is not a number in mind.

This strike me as a reasonable use of the slab. The coin is not fine style but NGC does not flag coins that are below average so it might sell better in a market where buyers don't look at the coins quite as deeply. Having coins slabbed that will be graded less than Ch XF+ may not pay off as well since a segment of the market does not consider anything but those letters.

 

$58,000 and let it sit for a couple years. Consider offers around $50K . But it all depends on the seller's resources.

 

The listed price may not be the price it sold for. If a dealer lists a coin for $1000 on, say, vcoins, and gets an offer at a show for, say, $700 and accepts it, they can mark it "SOLD," which is not the same as "sold for the original asking price."

 

I forgot about this thread. For what it's worth, I bought this coin from him a few months ago. I made an offer and after a few times back and forth we came to an agreement on price, giving him what I felt was a reasonable profit and allowing me to cross an important type off of my wantlist.

 

No plastic tax paid by me It was out of the holder about five minutes after it arrived as soon as I could find my hammer. And, as @Valentinian said, the price which shows on VCoins is not always the price paid, and definitely wasn't in this case.

 

For coins with market value greater than 25k the fee is $100 + 1% of the value (with a cap at $2500 so all coins worth more than a quarter million cost the same).

No clue how they decide the value if the coin has an estimate of $4-6k but sells for $32k.

 

Sallent, no one like to see ancient coins in a slab but slabbed ancient coins sell for more than raw coins; I know from 1st hand experience. Actually slabbing really isn't necessary, you can get the coins photo-certified with condition, surface, & strike evaluations. See photo below.

 

The improved photo should double the value of the horrid looking thing in the slab photo.

 

Well, if slabs add that much value, it makes sense to slab your coins prior to selling.

It makes no sense to be on the buying end of the transaction though.

 

Doug Smith, that sounds like good advice. I've had many coins slabbed by NGC, & the only ones I send in are very high grade coins or coins that might create a debate on authenticity. Some collectors, like myself, are uncomfortable about handling ancient coins that are in MS or near MS. As far as adding value in an auction setting there's no debate, slabbed coins usually sell for more.

 

I'm curious about your reasoning for doing this. Here's why: (1) dealers and auctioneers in "high grade coins" almost uniformly provide a perpetual, money-back guarantee on the authenticity of their coins; and (2) NGC does NOT offer a money-back guarantee of the authenticity of coins that they slab (which, in my opinion, is perfectly understandable).

So it would seem that you've acquired "high-grade coins" from sources other than those that provide guarantees. Is this why you have them slabbed? While NGC's slab might provide more comfort that your coins are authentic, it isn't a guarantee like the one provided by auctioneers and dealers.

 

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