Price guides

PCGS prices are very high. If you're insuring your collection, use the PCGS prices, but if you're in the market to buy or sell, look at recent auctions to see what your coins are really worth, not what you or Seine else WANTS them to be worth.

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OKAY I HAVE A DUMB QUESTION???? I have purchased the Red Book and Blue book for example 1924 d small cent penny in red book is priced 40.00 g-4..... the blue book same coin 18.00 why so much difference??? thanks any replys

 

Redbook is highly overpriced.

 

The Blue book is a dealer buying price, the Redbook is a retail consumer pricing guide. So, its saying a dealer might pay $24 for it, but list it at $40. However, most Redbook pricing is very high versus what you can buy it for, at least for coins less than a few hundred dollars.

 

THANKS FOR THE CLARAIFACTION..... BLUE VS RED ....SO DEALERS USE BLUE BOOK TO BUY AND RED BOOK TO SALE OR CLOSE TO IT

 

The blue was designed that way, but most dealers use greysheets which are more current. I really am not sure who uses the blue book. The redbook is a wonderful source of information on US coins, and the prices will let you know relative worth, but its prices, like most such guides, are way too high for inexpensive common coins, about right for middle priced coins, and too low for truly rare and expensive coins. Plus, being so out of date its prices are not very reliable anyway. So, for a collector I say use the Redbook for its great information and a general IDEA of pricing of a coin. Never use Redbook pricing as your only reference for what to pay for a coin.

 

Gray Sheets is that like something you SUBSCRIBE to or something......... monthly or quarterly?? hHow bout on line pricing such as... goggle coin worth... they off base .....

 

Grey sheets are indeed something you subscribe to. I have seen, though, dealers sell cheaply to someone who asks nicely a one month old sheet if you wanted one. Grey sheet for uncertified, blue for certified, though in actuality most sell around grey sheet pricing.

 

THANK U MUCH.............. LEARN SOMETHING DAILY ON HERE............

 

nice post thanks!

 

this is like a good thread ....

 

2 Questions: where do I get the blue book? and What is the typical premium for a graded and slabbed coin vs. that same coin w/o grading and slabbing?

 

bookstore, ebay

slabbed is the graded condition

non - slabbed is a opinion or educated grade, its a chance esp. w/ key dates ( at when the big bucks start to fly )

 

That's the biggest scam I've ever heard. "Here is the market price of this one of a kind item, but you have to pay double that. I only sell to other people who claim they are a "dealer" at this price." This idea and weak justification is what makes the hobby less fun for a lot of people. It is a mentality that dealers should be treated differently than everybody else. They are entitled to mark-up/down their coins and make a profit, but everybody should get the same price. If it's worth x, then it's worth x. Not worth x to some people buy y to others. That doesn't even make sense economically.

 

I disagree sir. My company manufactures food. If you walk in off the street and ask to buy a small amount of one product, we will not sell to you. If we did, you will be paying much more than every other customer. Why? Because you are not a wholesale customer, we cannot build a business selling to you, the quantity you buy is insignificant to us.

Same with coin dealers. I know many coin dealers who buy and sell tens of thousands each and every year to some other dealers, the other dealer reciprocates and they pay each other quickly. THOSE are the relationships that merit wholesale pricing. A retail purchaser picking and choosing through inventory to buy one coin at a time whenever the collector feels like spending money......that is a retail transaction. The dealer spends an awful lot of money carrying inventory for you to peruse though, going to shows to make it convenient for YOU to see him, etc etc. A collector does not DESERVE the wholesale price, since he is not providing the sales format of a wholesale customer. You are saying you want retail service but wholesale pricing. If you asked me to sell you at wholesale a small, retail quantity of what we make I will boot you to the door and ask you to never return.

 

I get it Medoraman.... but to me as a collector (not a good one at that...) I don't expect to pay full blown pricing or get it at wholesaleprice either...but somewhere in the middle. A coin is worth only what someone will pay for it. Monthly coin prices or magazines or on line prices may not reflect current market conditions but what some people or collectors are willing to pay for such coins... did I make any sense there...

 

This is exactly what I am trying to get at!

 

For US coins, ignore those guides you mention. Again, what is needed is knowledge. A good place to start with US coins is the greysheet. That is the best priceguide you will get. Not perfect, but better than every other one. After that, its knowledge acquired from study. Learn what coins you are interested are going for, from completed auctions, asking around, etc. After a while you will be able to know a few coins what the going market is, and be able to not overpay. I have been collecting over 35 years, and today know what the going price will be for maybe .1% of the coins out there. You cannot know everything, but the more you DO know the better you will be.

Trust me, if a dealer has an MS65 Oregon trail he is asking $300 for at his table, and you are able to inform him the last 5 coins at HA.com have gone for $210-230, you are in a much stronger position to get him down to the "market" price for these than simply begging. A dealer will respect an informed collector. It doesn't mean he will give you that price, in which case you move on. So knowledge will never mean you will win, but it will mean you are much less likely to lose.

 

"Trust me, if a dealer has an MS65 Oregon trail he is asking $300 for at his table, and you are able to inform him the last 5 coins at HA.com have gone for $210-230, you are in a much stronger position to get him down to the "market" price for these than simply begging. A dealer will respect an informed collector. It doesn't mean he will give you that price, in which case you move on. So knowledge will never mean you will win, but it will mean you are much less likely to lose"


This is sage advice! Research prior to entering the point of purchase has made my collecting a smarter endeavor.