PCGS Price guide app

Have any of you guys used this app? It's on the App Store I don't know about android. I curouis how accurate the prices are.

 

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I have the app. I think these prices are more accurate than redbook, but still when buying a coin i try to get it under what the app says, but that's just me.

 

The pricing will be right and wrong depending on the series. Actual auction results are better if the app will let you see them.

 

How accurate they are compared to what? I used to get that complaint all the time with the price guide app I wrote. "Prices are way off.... they're too high!" and "Prices are inaccurate...they're too low!". It seems everyone has a different opinion about what a coin's value is.

 

Well just to the current prices. No price guide in particular just the current prices.

 

Again, how are you defining "current prices" ? If a coin sells on eBay for $197 and an identical one of the same grade sells for $255, what would you say the "current price" is?

 

So what is the correct answers in this case ? Where can we go to get an accurate, up to date PCGS price guide?

 

People will always complain about price guides. I think that's partially because the guides do tend to be inaccurate and outdated, but partially because people love to complain.

One thing you need to remember about any PCGS guide is that they intend for it only to apply for PCGS-graded coins. Many times, that means the guide will list higher than what a raw or non-PCGS coin would go for.

Depending how you define "accurate," there might be no such thing. But, the official PCGS price guide is put out by PCGS, and you can access those prices on their web site. It should come up in pretty much any search with "PCGS" and the coin's date, series, mint, and variety (if applicable).

 

Thank you, that's what I thought. I use it for current Morgan prices.

 

My point is, there is no such thing as "accurate" unless you have a baseline to compare. When there is no consistency with prices sold, there is no basis to compare to.

I think what most people mean when they say that a price guide is "inaccurate", is that it doesn't match an average market price for recently sold coins. CoinFacts is great for this, because it includes recently sold items for every grade (PCGS and NGC coins only).

There is no accurate price guide that you're thinking of, because it's not possible for it to exist.

 

PCGS prices only reflect what they believe PCGS graded and slabbed coins should value at. I find I can expect about 85% of PCGS prices for a PCGS slabbed and graded coin in my market.

 

This is a good example, and surely one of many, why it was repeatedly suggested to you to learn before playing dealer. Unfortunately, pricing/values are not always as simple as picking up X guide (or asking for a free CDN) and is why you need to know both your market and the coins you're trying to sell. All is not as cut and dry as you seem to think.

As for the PCGS price guide, if you generically used it as your standard for expected retail prices, even if only on PCGS material, you're likely in for a big surprise.

 

I research the prices of a particular coin I want, and determine what the average going rate is. In circumstances where the selling price of the coin differs a lot, I only pay what I am willing to pay. For example, latest auction prices for the 2015 5.00 Narrow Reeds gold Eagle ranges from 300.00 350.00. Although I've seen it sell recently for as much as 445 and 500, and that is just for the MS 69.

I decided I wasn't willing to pay anymore than 315 for an MS 69 example. I just picked one up off GC for 246.00 The lowest I've seen it yet. Not to say it has sold for lower than that in that grade, all I am saying here the average price for that particular coin seemed to be in the 300-350 range.

 

If you buy certified coins from dumping grounds like Ebay, Teletrade etc., Numismedia Fair Market Value is what one should expect to pay. If you are purchasing high end material from a dealer specializing in those coins, one should expect to pay price guide or more for really special coins. Its worth it I think.

 

Thanks for the info. I can't really fault anyone for this because I didn't say it but , what about for non certified coins?

 

Again, learn your market. If you think there is a guide, any guide, out that will allow you to realistically price/value all coins, slabbed or raw, you're sadly mistaken. If there was such a guide that would automatically allow for an easy and consistent profit, do you not think the near countless others before you who desired to make money from coins would have failed? There are, more often than not, good reasons why some succeed as dealers/sellers and others fail, so if you wish to be part of the former, you would be wise to start looking at the big picture. With that said, the only actual "guide" likely to be of any use to you is the CDN, but again for it to be of any real value to you (and even then only for certain series) you need to know what you're doing, particularly with the coins themselves. You can BUY a sample pack for around $18 that consists of a weekly, monthly, and quarterlies, or better yet, since you clearly have a mobile device, perhaps you should use it as others have suggested and instead invest this money into quality reference material, which can pay for itself many times over if used wisely.









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But what reference guides/books do I need?

 

Are you wanting to become a collector or buy/sell? I would start off with the Red Book price guide. It's fun to go through, has prices on every U.S. coin, you will learned what dates are key or semi-key, and it has pictures.

The newest book is 5x larger than normal and you can buy it here:
2016 Red Book Deluxe Edition

 

Buying and selling.

 

Buy the Red Book. It's going to take lots of time.