advice on coin prices

[sparkey0151 0]

Hi all just wondered, have silver coin prices jumped up in a few years ie from 2011 to 2014, my reason for asking is i was looking at a coin on ebay an 1844 silver crown, which to me looks in fine condition its starting bid is £109, i looked in collectors coins gb 38th edition 2011 its value is £45 FINE AND £ 200 vf, im thinking at that price it must be considered vf maybe.

regards sparkey

[TomGoodheart 403]

eBay is the answer Sparkey!

People list things at whatever price they want. If some fool is happy to be parted with his money it will sell .... but that doesn't mean that's what one should pay. Or what something is worth. Meaning what you'll get back if ever you try to sell.

As for grading, well we all know that there's a tendency to grade higher when selling than when buying .. Hence the importance of learning about grading yourself so you rely less on others opinions.

.

Edited November 18, 2014 by TomGoodheart

[sparkey0151 0]

Thanks for the reply, caint wait to get the books ive ordered so i have a good idea of what i am buying, i am interested in the coins you are selling could i have a few pics please.

regards john

[Paulus 1,975]

Sparkey, generally speaking English milled silver coin prices have increased quite significantly over the last few years, but only in high and top grades (EF and above). VF and below have been fairly static.

As TG says, sellers can ask what they want on eBay (or any market place), whether they list a starting price or reserve in an auction, or a BIN (Buy It Now) price, perhaps with offers invited. The only rough guide you would get from eBay is from realised prices (i.e. the price it sold for at the end of the auction (if it sold at all).

Hope this helps - do you have the eBay reference number or a link to the page?

[sparkey0151 0]

http://www.ebay.co.uk/itm/British-1844-VIII-Victoria-Young-Head-Crown-Star-Stops-244-/351172314196?pt=UK_Coins_BritishMilled_RL&hash=item,

Hi thanks for the reply, this is the link but if you look on ebay for 1844 crowns there are loads of them prices from £1.04 to over £100, they say various things to do with faults etc?

regards john

[Paulus 1,975]

Thanks John

What we have there is a Buy It Now (BIN) item, rather than an auction. So the price (£110) is not a starting price, but the price you can buy it for.

It costs nothing these days to list and re-list on eBay (I think I'm right in saying!), you only pay commission (seller's commission of 10% + a bit more to Paypal if used) if and when the coin sells. There are many sellers 'chancing their arm' listing coins as BIN items hoping that someone will take a bite - and why not, that's one of the main reasons for eBay's existence. The buyer pays no commission, but normally (although not always) pays for postage and packing.

In my opinion the price of £110 would be reasonable if the grade was GVF as stated, however I would grade this coin somewhere around GF-NVF. Inflated grading is the norm on eBay I'm afraid.

[Coinery 1,156]

It's rare you see such a large coin in that grade with a good edge, however!

[Paulus 1,975]

That's true Stu - do you think I'm being a bit harsh? Looks like a £80 ish coin to me, so £116 delivered is a tad too much?

Edited November 18, 2014 by Paulus

[TomGoodheart 403]

Personally, as well as keeping records of coins I'm interested in I find a Google image search can be useful. I pick out coins from dealers and compare prices and stated grades to get a better idea of how what I'm looking at compares.

Just an idea ...

.

[Coinery 1,156]

That's true Stu - do you think I'm being a bit harsh? Looks like a £80 ish coin to me, so £116 delivered is a tad too much?

No, I didn't really look at it from a grade and value point of view, just an observational thing re that edge!

[Coinery 1,156]

Personally, as well as keeping records of coins I'm interested in I find a Google image search can be useful. I pick out coins from dealers and compare prices and stated grades to get a better idea of how what I'm looking at compares.

Just an idea ...

.

And a very good one, TG!

[declanwmagee 122]

John

Another tip: learn to use the Completed Listings Advanced Search pages - that will tell you the prices sellers have actually achieved for their coins, not what they hope to get.

eBay is an amazing place, and a lot of us spend a lot of time on it, buying and selling. But, it is fairly rough-and-tumble in there! You really need to know your stuff, and once you do, you can enjoy yourself.

How to do that? Usual way, I'm afraid, read, research, practice, make some mistakes but try and make them cheap ones. It's just experience. Before you know it you'll be scanning down through coin listings very quickly, able to spot bargains as well as Scott does, and to spot rip-off merchants as well as Azda does.

There are rip-off merchants, of course, but Ken Walker, the seller of that crown, isn't one of them. Yes, that coin's a bit overpriced, so don't buy it, that's your prerogative.

[sparkey0151 0]

Thanks for all the great advice, i do have a lot to learn, never even thought of the edges etc, LOL.

regards john

[TomGoodheart 403]

A kind member here whose name shall remain secret Declan, once reminded me that modern coins such as George V halfcrowns were struck in the millions.

For many years of issue excellent examples still exist in decent quantities. So it's worth holding out for a nice one. Edges and all!

.

[Coinery 1,156]

A kind member here whose name shall remain secret Declan, once reminded me that modern coins such as George V halfcrowns were struck in the millions.

For many years of issue excellent examples still exist in decent quantities. So it's worth holding out for a nice one. Edges and all!

.

You didn't go and get too used to those raggy edges, did you TG?

[Paulus 1,975]

Such a difference isn't there between hammered and even early-early milled, where edges are concerned, in particular!

[Rob 3,152]

All things on ebay have to be priced at least 15% above their typical market value to take account of the amount that sellers have to pay to ebay in fees. Try using dealers. Normally they will offer a no quibble return if you are not happy. Better still, go to fairs and talk. You can see the coins in hand and compare between dealers for similar items in many instances. eBay is the best place for people to dispose of problem coins because it is inhabited by the largest number of people who know least about what they are buying.

[Paulus 1,975]

All things on ebay have to be priced at least 15% above their typical market value to take account of the amount that sellers have to pay to ebay in fees. Try using dealers. Normally they will offer a no quibble return if you are not happy. Better still, go to fairs and talk. You can see the coins in hand and compare between dealers for similar items in many instances. eBay is the best place for people to dispose of problem coins because it is inhabited by the largest number of people who know least about what they are buying.

BINs on eBay doubtless are priced as Rob suggests, auctions end up where they will.

I would thoroughly recommend reputable dealers (there are many on this Forum) and coin fairs as Rob suggests

[Mynki 23]

So, what dealers have a decent selection of third and quater guineas which are graded honestly and sensibly priced?

Incidently I recently bought a very poor example of one from ebay. Just for interest purposes really. It was a BIN listing with a 'make an offer' option. I placed an offer which was significantly below the asking price and just above it's bullion value. My offer was accepted in two minutes. It's arrived, it is genuine, and in the poor condition I expected. Ironically, others in similar condition make more than I paid at auction consistantly. I reckon if I auction it with a starting price of 99p I'll make a tiny profit because some people like the excitement of bidding more than a BIN price.

I once offered for sale a bottle of Karuizawa whisky online at a cost of £240. I received a couple of cheeky / insulting offers which I declined and so placed it in a Scotch Whisky Auction instead. The bottle achieved over £500 before 10% commision. Probably bought by a Chinese collector or investor. It's always interestinghow these things work.