Pricing question

Discussion in 'Coin Chat' started by Tx_BoneCollector, Feb 23, 2020.

  1. Tx_BoneCollector

    Tx_BoneCollector New Member

    I’m wondering why my Red Book says one price for a coin in MS-63 condition graded by NGC and their price guide says it’s worth more.
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  3. kanga

    kanga 65 Year Collector

    One factor is that the Red Book is about a year out of date by the time it gets printed.
    Therefore it can't account for recent changes.

    Auction results are the most accurate thermometer for coin values.
    If the coin has reasonable value (>$200) check auction results in Great Collections and Heritage.
    If it's less expensive see what it's selling for in eBay.
    J.T. Parker likes this.
  4. Tx_BoneCollector

    Tx_BoneCollector New Member

    Ok thank you for the information I’m still learning as I go
  5. Mountain Man

    Mountain Man Well-Known Member

  6. Collecting Nut

    Collecting Nut Borderline Hoarder

    They are price guides, not actual prices.
    Randy Abercrombie likes this.
  7. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    This..... The Redbook is a price guide only. It’s real use of a Redbook is in the information it contains.
    johnmilton, ldhair and Collecting Nut like this.
  8. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thanks Randy. I obviously forgot to add that information.
  9. Woodman60

    Woodman60 Mercury Dimes Franklin Halves

    FYI The new Red Book 2021 will ship to stores in April so they should be available the first part of May.
  10. Clawcoins

    Clawcoins Well-Known Member

    The price guide is a fixed price in time. It is not reflective of actual, current prices.

    If you look at sold auctions on ebay for a specific graded coin you'll find that the price varies even in a short amount of time even for the same graded coin. Plus we don't know if they average their prices .. from ebay .. or heritage, PCGS, some retail store in New York or LA ... or where ??
  11. Woodman60

    Woodman60 Mercury Dimes Franklin Halves

    Auctions are the best way to sell, buyers will fight and many times bid more that the seller wants. Once they start bidding it becomes a competition to see who will win, you might have 2, 3 or 10 bidders it does get crazy sometimes.
  12. Conder101

    Conder101 Numismatist

    I've never seen the Redbook specify a grading company in their price listings. I don't think I've ever seen them say that the prices listed are for TPG certified coins. (Of course my Redbook is from 2014.)
    longshot likes this.
  13. johnmilton

    johnmilton Well-Known Member

    Prices for collectables are not carved in stone. The market for regular issue U.S. coins is probably the best organized. If you are buying and selling tokens and medals, you need to know a lot more about the market you are serving if you are dealer. That are some price guides, but they are only a small piece of the puzzle. You need to know your customers, what they want and decent idea as to what they are willing to pay. In other words, you have to think like a collector, if you are going to be a successful dealer.

    The same applies for medieval and ancient coins. Some the price guides have not been updated in years. You have to look at the auction results and also judge coins by their popularity among collectors.
    Tx_BoneCollector likes this.
  14. Derek2200

    Derek2200 Active Member

    The CPG price guide by CDN is free and has auction results. I use the app all the time.
  15. Tx_BoneCollector

    Tx_BoneCollector New Member

    I never could find that cpg app, but I do have the PCGS price guide and also the NGC price guide and I check HA and great collection for prices.
  16. Tx_BoneCollector

    Tx_BoneCollector New Member

    And thank you to everybody for continuously helping me with all my questions about this great hobby.
  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Appears that the NGC and PCGS prices online are off, even for popular series and actively traded/auctioned coins. :oops:
  18. johnmilton

    johnmilton Well-Known Member

    Yes, they tend to run very high in hopes of pumping up the market. That's why dealers who try to get prices that are much higher than the PCGS and NGC guidlines for run of mill material, need to hear the word "No" more often. Believe it or not, they are out there.
    Last edited: Mar 4, 2020
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Yeah, I think that's where I got the $15,000 price for an AU58 1907 HR Saint. The auction results are WAY LOWER for all AU-58's.

    And at the Garden State Coin Show over the weekend, so many times I asked for a price -- ballpark would have done -- and dealers said to their assistants to look it up.....ON EBAY !!! :mad:
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