Coin will worth according to pcgs guide coin or according to auction in pcgs or the average of the guide price with auction price ?
Take my coin for example, my coin is AU and it worth 12k according to guid price but auction price is low, what thats mean ? How i can know a good price for this specific coin ? What if i take it to pawnshop ? Is that the best way to get best price ?
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Hello,my friend!
First,how do you know that auction price is low?! If you already put the coin in an auction,how do you still have it? Something doesn't match well here...
Second,who gave you the catalogue values of 12k! (=12000?!) usd for your coin even with AU ''details'' (this means that the coin still has some problems: hairlines,scratches,cleaning etc.
Hereby I send you the page of the KM Standard World Coins Cat. about your coin. Please,check the values for yourself... These are much down to what you said.
Pawnshops or business coin dealers NEVER offer good prices for your coins. Sometimes(but seldom!) these may be FAIR PRICES for them as to keep being in business. They always have to make profit for that!!!
Only a passionate coin collector(here is the good & tough work to find him!) will offer you a good price for ANY collectable item (coin or other) he wants! So,we come back to auctions where,generally,we may find such buyers.
Hope I helped you,
Andi
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Andi Pasculescu according to pcgs auction with anothee coin that have AU condition tou can see the second photo i upload not coin photo but the site photo i uplod photo again, my coin is still with me but the same coin with same condition guide value is 12k but auction value 3360, another quision AU details is not food as AU50 ? They pay for numeric grading more?
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Hi again,Marko!
I saw the photo of the page you provided. Yes,Ok.,this is THEIR opinion of values: 12000 usd (FULLY graded AU50). I showed you another catalogue opinion: the KM...
A proof that 12000 is too much to be paid is the REALISED auction prices of 3360usd.(but also 1912$,another time!)... Quite big difference of realised prices!!! This happens always in auctions: if the very right buyer is not present at that time,the price may not rise enough! There is always such a RISK!!!
BUT,if you want to get for your coin the written 12000$ (or so!) you are FREE to go to those who gave that price,ARGUE WITH THEM & DEMAND TO PAY YOU THAT GIVEN AMOUNT! Let's see what they will tell you then...
Good luck,friend!
Andi
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Andi Pasculescu i am sorry with my too many quesions but, AU details is bad thing ? Because it didnt have number, what AU mean exactly is it affect the price to less ? Is it will cost less than AU50 for example,
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Marko22 "Details" on a slab indicates that there are problems with the coin. In your case, the problems are the chops. For instance, you might see "Genuine, XF details, cleaned" for a non-counterfeit coin that has XF amount of wear and has been harshly cleaned.
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Marko,you haven't read with great attention my previous responses! I already explained you,clearly,all these. AU means ''almost uncirculated'' and has its limits from 50 to 58. Above is the uncirculated or ''mint state'',MS, between 60 and 66-67. Below AU is the ''extra fine'' grade/state,XF,40 or 45.
For all grades/states of preservation, when a service says ''details'' that means that they cannot FULLY grade the coin like this because it has some other quality problems like: scratches/hairlines,cleaning old or new,rim bumps etc. This,although the ''details''/reliefs are of that named grade. So,when this is written (''details'') means a quality somehow under a perfect,fully specimen of the named grade.
CLEAR?! Please,pay more attention to ALL someone tells you!
Andi
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Hi Marko --
You are the same a most people, Marko. Most people think that "price guides" are really "price lists" that collectors use to buy coins. But that is not true.
Most people also think that a coin's grade determines its desirability. That, also, is not true.
Here are four things to remember:
1. All published price guides show inflated values. The price guides are published by people who want to sell coins, and high prices make potential customers think coins are more valuable than they really are.
2. Price guides show "catalog" value. Very, very approximately, knowledgeable collectors buy coins at the "ask" price, which is about three-quarters of catalog. Further, coin dealers pay the "bid" price, which is about one-half catalog. When someone asks "What's it worth?" they usually mean "What can I sell it for?" The answer is the bid price, not the catalog price.
3. The numismatic grading scale, which runs from Poor-2 (PO-2) to Mint State-70 (MS-70), is woefully inadequate for describing a coin's desirability. There are really 5 evaluations that enter into coin desirability: wear, problems, luster, strike, and eye appeal. Summarizing these five qualities in a single number is foolish, but that's what we do. Diamonds, for instance, use four numbers to describe desirability: carats, cut, color, and clarity.
4. The numbers used in the numismatic grading scale imply precision and accuracy, but the scale is neither precise nor accurate. Again, this is another ploy used by people to sell coins. It is ludicrous to think that two collectors could consistently agree on the difference between VF-20 and VF-25.
So, considering your China Empire dollar, it has AU wear (which, by the way, I do not agree with), but it also has problems in the form of chop marks (which, by the way, is not a problem for me, because I like chops). The PCGS price guide says the catalog value is $12000 US dollars. Lowering catalog to account for problems and possible over-grading might put it at $8000. Then the ask price would be about 3/4 x 8000 = $6000 (what a collector might pay) and the bid price would be about 1/2 x 8000 = $4000 (what a dealer might offer to buy it from you).
In summary, coin pricing is a crapshoot. Only through years of experience buying and selling coins can one become comfortable with this situation.
I've included pictures of three China Empire coins. The first is PCGS AU-55 which sold at auction to a collector for $8750. The second is NGC AU details with chop marks which sold for $2447. The third is not slabbed and not graded which sold for $13865.
Like I said, it's a crapshoot.
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For an in-depth discussion of coin pricing, see this page:
https://coinquest.substack.com/p/silver-dollars-what-are-they-worth
