Hello all. What sources are the most reliable to determine coin values (assuming you have properly I.D. the coin and grade)? Is the CDN Greysheet the best? What do you think of http://www.bestcoin.com/united-states-coin-pricing-guide.htm? What about Heritage coins? This newbie needs help! Thanks.
I personally beleive it depends on what you intend to do with the coin. If you intend to sell the coin to the dealer, then use what the dealers generally use which is the CDN sheets. If you're going the online auction route, then the realized prices with eBay, Heritage, and Teletrade are good sources. I also use eCoinPrices.com on rare occassions when there is not any other reliable source. I have found them to be pretty close to the PCGS price guide, which subsequently comes close to a 400% markup of the true coin value in most cases. So taking 25% of the PCGS guide is a pretty good idea of the market tolerance for coin values. It all depends on how much research you want to do. Remember, a coin is only as valuable as the compromise between what the person selling it thinks it's worth and what the person buying it thinks it's worth On a note, I would have to say that if Heritage really believed in the values they post for coins, you would think they would at least offer somewhere near that "value" when purchasing your sets
I use greysheet but I would like to be able to find similar prices on the internet (that way I could search a little faster with my computer instead of with my eyes and possibly be able to build a database of prices for my collection) Anyone know of where I could find such a website?
It sounds like you are not using the Heritage site correctly. Yes, they do have a price index. But this is not the source to use for accurate retail pricing. You need to use the Auction Archives. They will show you what others have recently paid for given coins in a given grade. CoinDude - same for you. Use the Auction Archives for prices.
This is the source Heritage will use when they value the coins your keep in their software under " My Collection. " http://www.numismedia.com/index.shtml They use the dealer prices and it cost over $100.00 per year to belong to NumisMedia and get the dealer prices. Sometime ago I read an article on price guides and the Author liked this one best albeit the hefty cost. You can get lower grade Fair Market Value prices free at NumisMedia.
Bingo. I've found Heritage to be the best place for evaluating prices and the condition of the coin that realized those prices. Don't use their price guide use the previous auctions history. Whatever you do don't use PCGS's price guide or for heavens sake Ebay as an indication of prices.
The word "valuation" is in the title of this thread. Keep in mind that recent auction prices will tell you what people are paying, which may or may not be an indication of long term "value." If you have to own the coin and you have to own it NOW, recent auction prices are valuable. You can't do any better. Just keep in mind that recent prices can be out of line with historical prices and future prices for the coin due to recent popularity, fads, advertising, ect. For example, if the coin in question has been increasing in price over the past decade at a rate greater than similar coins, it could indicate that you are buying into a fad, or it could indicate growing scarcity or recognition that the coin was underappreciated in the past. That's where judgement comes in. It's up to you to figure out why. It isn't easy, but it's worthwhile to take the time to do the analysis.
There is one more thing though Cloud - the realized auction prices on Heritage go back into the early '90s. So you can see historical pricing and if they are increasing. As for potential future appreciation - well that's anybody's guess and that's all they have - a guess.
