How much is my coin worth?

[ray_parkhurst]

OK, more meat!

So the value of being in the CPG needs to be factored-in to the baseline valuation of the coin.

[jallengomez]

OK, more meat!

So the value of being in the CPG needs to be factored-in to the baseline valuation of the coin.

I would say absolutely. Let a coin get dropped from the CPG and it's the equivalent of a company's stock encountering a horrible earnings report.

[Justafarmer]

Question - is a slabbed coin graded and designated with a variety any more valuable than a raw coin purchased from, graded by and attributed by Chuck Daughtery, John Wexler, James Wiles, Brian Ribar or etc.?

[jallengomez]

Question - is a slabbed coin graded and designated with a variety any more valuable than a raw coin purchased from, graded by and attributed by Chuck Daughtery, John Wexler, James Wiles, Brian Ribar or etc.?

I would say so. No offense to the people mentioned, but I would imagine a lot of collectors who know the CPG don't have a clue who those people are.

[seal006]

I would say so. No offense to the people mentioned, but I would imagine a lot of collectors who know the CPG don't have a clue who those people are.

I agree 100%. You here all the "Buy the coin, not the plastic." Truth of the matter is that piece of plastic adds to the worth of that coin. This is why I have begging, pleading for a way to determine what that factor is. We can get all kinds of sales data on slabbed coins. I want to use that info to translate the raw coins worth.

[ray_parkhurst]

I agree 100%. You here all the "Buy the coin, not the plastic." Truth of the matter is that piece of plastic adds to the worth of that coin. This is why I have begging, pleading for a way to determine what that factor is. We can get all kinds of sales data on slabbed coins. I want to use that info to translate the raw coins worth.

Agreed, a TPG certified coin is worth more than an uncertified one. But a specialist-certified coin is worth more than an uncertified one as well. Certification by a specialist gives a high level of security that the variety has been properly attributed, more so even than if a TPG certified it. However, the TPG certification gives a relatively accepted grading standard as well as a reasonable level of attribution security.

So now we have even more meat on the bones of the baseline valuation:

- TPG certification
- Specialist certification

I'm sure there are more coin-specific factors to consider before we start putting values on the factors already identified. Any others you can think of?

[Rollem]

But doesn't it hold true that a PCGS sells higher than anacs and other TPG?

[ray_parkhurst]

But doesn't it hold true that a PCGS sells higher than anacs and other TPG?

OK, more meat...

- ANACS
- NGC
- PCGS
- SEGS

Any others that certify varieties that should be included?

[coppercoins]

Without getting into politics of slabbing, if you are only looking for companies who have holdered coins with proper variety identification you must include ICG and PCI. Certainly if you are going to include SEGS then those two must be included as well.

[ray_parkhurst]

Without getting into politics of slabbing, if you are only looking for companies who have holdered coins with proper variety identification you must include ICG and PCI. Certainly if you are going to include SEGS then those two must be included as well.

OK, so we have 6 grading companies to consider:

- ANACS
- NGC
- PCGS
- SEGS
- ICG
- PCI

Are there any other factors to consider?

How do we account for relative rarity?

[ray_parkhurst]

Some folks have complained about my definitions and nomenclature, and indeed I am grateful for the discussion in this area. After some deliberation and offline discussions, I'd like to propose a change to two terms:

What I have been calling "value", which by my definition is a relatively stable quantity based on objective and subjective factors of the coin itself, I'd now call "core value" or sometimes "CV".

What I have been calling "price", which by my definition takes "core value" and adds the effect of market factors, I'd now call "market value" or sometimes "MV".

Since the core value of a coin has nothing to do with whether it is certified or whether it is listed in CPG or by a TPG, these additional factors go into the market value. I think it's important to consider both the core value of a coin as well as its market value so would prefer to keep them as separate quantities.

What other core value factors are there?

What other market value factors are there?

[Justafarmer]

It is really fairly simple. Varieties which Dansco and Whitman have included a hole their albums carry the highest premium. Varieties which have gained inclusion into the red Book but have not yet gained a hole in a album carry a slightly less premium. Varieties listed in the CPG but have not achieved Red Book status have a premium slightly less. Varieties not included in the CPG but are included in a generally recognized resource's top something list carry less of a premium. Varieties recognized by CONECA and have been cross referenced to other recognized attributors' files carry less of a premium. Varieties recognized by CONECA and have no cross reference carry less of a premium. Varieties recognized by an attributor but is not cross referenced to CONECA carry less of a premium. A variety that has been latched onto by the mainstream media iirespective of any of the above - the sky is the limit.

[Coinflip]

How do we account for relative rarity?

I don't know if we have to: CPG, CONECA even CC list the URS scale and some the Liquidity factor as well. I would think that most new collectors miss these attributes altogether.

Nice discussion.

[jcuve]

For varieties (or errors treated like varieties) specifically, certainly the level of covetousness and its relationship to availability is at play do to many of the factors stated by others. (i.e., supply and demand.)

Covetouness:
CPG
Redbook
Other notable numismatic publications (specialty books, CoinWorld etc.)
Inclusion into registry sets (PCGS, NGC)
Back story on the variety (1969-S DDO-001 as an example)
Inclusion into various variety files (CONECA, Wexler, Coppercoins, Crawford, Potter, VAMs, etc.)
Perceived rarity
Nicknames (low leaf quarters, 3-legged buffalo)
On a top 10/100 list (CONECA Top 100 RPMs, LCR top variety lists etc.)
Personal lists (logical ones such as having all of the 9 classic 1972 DDOs making DDO-004 sparkle)
How dramatic the variety is compared to other examples of similar varieties
How many varieties for that denomination and year are listed (1¢ 1973 DDO-001 vs the myriad 1962 DDOs)
Was the coin authenticated or certified by a variety specialist (one would have a die stage/state)
Plate coins (being used in any publication or website)

Availability:
Ease of identification (naked eye, and low power magnification make it easier to spot)
How many people know about it and are looking for it (1995 DDO-001 USA today article sends the public into a DDO frenzy)
How long did it take until it was found? (1955 DDO-001 vs 1917 DDO-001)
Frequency of any given variety found in different grades
Life of the die (was it pulled early or left in use for longer than normal)
Identification in LDS (some varieties are nearly impossible to see past MDS)
Key markers used for identification (die chips on 1909 DDO-002)
The need for buying slabbed examples (TPG certification)
Is the variety counterfeited?

[ray_parkhurst]

It is really fairly simple. Varieties which Dansco and Whitman have included a hole their albums carry the highest premium. Varieties which have gained inclusion into the red Book but have not yet gained a hole in a album carry a slightly less premium. Varieties listed in the CPG but have not achieved Red Book status have a premium slightly less. Varieties not included in the CPG but are included in a generally recognized resource's top something list carry less of a premium. Varieties recognized by CONECA and have been cross referenced to other recognized attributors' files carry less of a premium. Varieties recognized by CONECA and have no cross reference carry less of a premium. Varieties recognized by an attributor but is not cross referenced to CONECA carry less of a premium. A variety that has been latched onto by the mainstream media iirespective of any of the above - the sky is the limit.

OK, more meat again:

- in Dansco album
- in Whitman album
- in Red Book
- listed by CONECA
- listed by specialist attributors

The list grows...