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23-Feb-2012
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I am fairly new to coin collecting and am considering purchasing a particular CGS graded penny. I have searched the penny on the PCGS listing and found the item value to be $210. The seller is asking more than this and I am wondering if there's any general guidelinies to if you should always be buying below value pirce for PCGS graded coins or paying the same, or more?
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24-Feb-2012
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Walter Eigner Numismatics
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Unknown Poster wrote: I am fairly new to coin collecting and am considering purchasing a particular CGS graded penny. I have searched the penny on the PCGS listing and found the item value to be $210. The seller is asking more than this and I am wondering if there's any general guidelinies to if you should always be buying below value pirce for PCGS graded coins or paying the same, or more?
The Blue Sheet is approximately the minimum you should expect to pay for a particular coin. For commonly sold coins you can consider it a maximum price too but for scarcer coins you may need to pay a premium over the listed price. The safest way is to look up the sales history with a gold level subscription, if the coin commonly sells at a lower price then you'd know to look past it, if it's its first time on the market in a few years, the Blue Sheet price may be undervalued.
Alternatively you can estimate the coin's rarity by using the PCGS population chart: http://www.pcgs.com/pop/. If the counts are low in the coin's current grade and above, then it may still command a premium.
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