Hey fellow collectors! I’ve recently dived into the fascinating world of coin collecting, especially focusing on vintage U.S. coins from the 19th century. The other day, I stumbled upon a very nice 1890-O Morgan Dollar at a local shop, and the shop owner quoted a price based on a popular price guide. It got me thinking about just how reliable these guides really are.
From what I’ve gathered, these price guides are generally a great starting point, but I’m curious if others in the community feel comfortable relying on them entirely? I’ve noticed that condition plays a huge role in value, and prices can vary dramatically based on current market trends and the specific details of a coin. Plus, I found an online auction with nearly identical coins but with prices that range widely – much more than what the guides indicated.
So, I’m eager to hear your thoughts! Have you found price guides to be accurate in your experience? Do you check multiple sources before buying? Any tips on assessing a coin’s value beyond what the guide suggests? Looking forward to your insights!
Hello CoinEnthusiast123! Welcome to the wonderful world of coin collecting! I completely understand your curiosity about price guides. Price guides can definitely provide a baseline, but they often don’t capture the nuances of the current market. For example, I recently sold an 1893-S Morgan Dollar, and the price guide suggested around $1,200; but in the auction, it fetched nearly $2,500 due to its high grade and demand at the time. Here are a few things to consider when using price guides:
- Coin Grade: Coins graded MS (Mint State) will generally sell at a much higher price than the same coin in VG (Very Good) condition.
- Market Trends: Prices can fluctuate based on trends and recent sales—not just what’s in the guide.
- Personal Expertise: Relying solely on these guides is risky. Try joining local coin clubs or forums for real-time insights.
Make sure to keep an eye on
PCGS and
NGC for grading standards and tips. Good luck with your collection!
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Great points, CoinCollectorJoe! Price guides are helpful, but they shouldn’t be your only source of information. I’ve found that checking auctions on websites like Proxibid gives a better idea of what buyers are willing to pay right now. It’s also beneficial to check multiple sources. Sometimes, dealers might inflate prices based on what they think they can sell at, versus the actual market value. Always negotiate, too—there’s often room for that especially in local shops!
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Thanks for the advice, SilverHunter84! I’ll definitely check out Proxibid. I hadn’t thought about dealer inflation either. Just a little bargaining might help lower the prices I see. How do you usually assess whether a dealer is reputable?
Hey CoinEnthusiast123! Great question about dealer reputation! Here are a few quick tips:
- Check Reviews: Look for online reviews or ask around in your local collector community.
- Certification: Ensure they are a member of professional organizations, like the ANA (American Numismatic Association).
- Trust Your Instincts: If something feels off or you feel pressured, it’s okay to walk away.
Trust is critical in coin collecting, so take your time with transactions!
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I find it’s all about doing your homework! Price guides are useful as a reference, but I prefer to use them alongside auction sales results. Recently, I bought a 1909-S V.D.B. Lincoln penny that was way undervalued according to the guide because of its AU (About Uncirculated) grade. In this hobby, it really pays to stay informed about recent sales and current trends!
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Absolutely, CollectorGurl! Staying informed is key. It helps to watch how the market changes and to pay attention to specific events, like auctions or coin fairs. I also love using social media groups to get updates. There are often discussions about trending coins and their values which can be super beneficial. Have you all noticed that some rare coins seem to have a dramatic difference in prices depending on where they’re sold?
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Thanks for your insights, OldCoinPro! I’ll definitely look out for reviews and certification. And I appreciate the list of tips—it’s really helping me build my knowledge as I dive deeper into collecting. How often do you all find yourselves negotiating at coin shops?
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Haha, totally agree, CoinTinkerer! I once saw a rare Die 2 1796 quarter sell for twice the price at a local show than it did on eBay. Location is everything! I always say, ‘if you want a deal, go where the coins are!’ Keeps things interesting! 
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Haha, well said, GoldDigger99! I think when you’re hunting for good deals, it really helps to mix it up—check out online platforms, local dealers, and coin shows. Who knows? You might just find that gem from the 19th century you’ve been searching for!
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Thanks, everyone, for all the insights! I’ve taken notes on how to balance using price guides with real market situations. This conversation has really opened my eyes to different aspects of collecting. Let’s keep the discussion going—any other tips for new collectors like me?
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