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So I have gotten into cherry picking local pawn shops and people selling on Letgo. As a rule I generally will not buy a raw coin at more than 25% of PCGS priceguide unless it is obvious that if graded I could get it graded and flip it easily.
So how do you folks price raw coins for buying and selling?
I would not base it on 25% of their guide because their guide is for coins already in their holder, grading is tough to predict, even being sure some will grade at all is tough plus their guide price is mostly based on big auctions, selling any other way you might get less or maybe a few % with some things if you walk into a shop.... many dealers will not pay extra for anything higher than redbook in MS65 regardless of TPG grades and they might say they don't care about TPG grades (of course when selling they'll care)... and most/many dealers do not care about any variety that isn't in the redbook.
So base your price on how much you like/want it and what you really think it would sell for raw/graded however you plan to sell.. how you plan to sell matters a lot.
A mistake people make is build a collection based on guide values but in the end it gets sold different like someone inherits and liquidates the collection fast for pennies of book value.
So I have gotten into cherry picking local pawn shops and people selling on Letgo. As a rule I generally will not buy a raw coin at more than 25% of PCGS priceguide unless it is obvious that if graded I could get it graded and flip it easily.
So how do you folks price raw coins for buying and selling?
If you want current worth of a coin, you should go on eBay, find the exact coin you are looking at, in a comparable grade and change the search to "sold", not listed. This will give you a good idea of what the coin is worth, in my opinion.
Ed and Jon are both right.
There are all kinds of inherent risks involved for buying raw coins. PCGS prices are for already slabbed coins, and even then it is based on projected value, which can fluctuate wildly.
As an example of the fluctuation NGC has a weekly newsletter that compares the five highest gainers and losers in a series.
Click on this for some NGC comparisons.
Ed and Jon are both right.
There are all kinds of inherent risks involved for buying raw coins. PCGS prices are for already slabbed coins, and even then it is based on projected value, which can fluctuate wildly.
As an example of the fluctuation NGC has a weekly newsletter that compares the five highest gainers and losers in a series.
Click on this for some NGC comparisons.
(hope the link works as I had to convert it from an email to a web page)
Agreed that the PCGS price is for slabbed coins. Which is why I put a cap on what I will pay for a raw coin. As stated above eBay is a good barometer for the current marketplace. The link worked good and I have bookmarked it. I appreciate the replies.
Other factors affect the market value - how may are up for sale?, whats the grade?, and what have those past coins been selling for should be considered. There is a guy who routinely buys coins on Great collections thinking he stole it and sells them on Ebay for current PCGS values. Week after week he list those coins, and week after week the values are dropping due to increased populations. But not his. You really got to know the series, the demand and whats out there to pick fair market prices.
Technically a raw coin of the same grade should be worth the same amount as a TPG holdered coin. However, that technicality requires people to actually be able to assess the grade for themselves. This is something any serious numismatist was able to do once upon a time.
“What can be asserted without evidence can also be dismissed without evidence.”
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