Obviously I try to get my coins for as little as possible. However I am prepared to pay more than catalogue value for certain coins. Predecimal Fijian coins is my only specialised collection where I try to get a copy of each year of each KM number and I am happy to pay double catalogue value to get the coins I need, mainly because I need so few coins (I only need about 7-8 coins to complete my collection now) and they don't often come up for sale.
The other coins I will pay more than catalogue value for, but perhaps not double catalogue value) is coins that I like that don't often come up for sale. Being in New Zealand there's alway pleanty of NZ coins, Australain coins and British coins up for sale. But many of the European countries, South American countries or African countries don't come up very often so I'll snap them up when they come out for sale.
Depends what it is ! I hve been after some Ceylon Stivers for a while but waited and paid catalogue value for 2 Stivers and half the price for the 1/2 stiver they always seem to go for MUCH more than book price, only rare coins ill pay more for like I would maybe pay £5 more for a straits dollar or a British trade dollar HOWEVER I would only buy them from a reputable seller as there is always expensive fakes about !
A lot of young collectors who used to not own a catalogue (I was one of them) thought that any old coin made of any metal was valuable. So I spent like a hundred bucks on what were simply French new franc coins.
When it comes to spending more than the catalogue price, my sister tells me, and I use these words before I buy something, especially coins, "If you won't regret buying it in the future, don't buy it." So coins that are really worth it, such as silver coins from the Japanese empire that are 50c above the catalogue value, I'd go for, but if it's like a dollar or more I tend to shy away because another opportunity will come.
I typically buy coins only under catalogue value, even coins I don't really want that much. One of them was a Belgian coin I got for $2.25. I don't really want it but it's better to spend a lot less for a coin that you don't really want than to overspend on a coin you kinda want.
One thing that I usually do on eBay whenever buying is ask for discounts. It usually happens, like 2/3 of the time. I've probably saved $30 by asking people to shave off a dollar or a half. It's great to know how nice and friendly people are, even on eBay.
Anyways I usually shy away from buying over catalogue value. It's just so hard to see the pride and profitability for a buy like that.
By the way is a set like this for $41.5 a good price? I bought it for my friend who's really interested in Hong Kong coins.
Kenny
- Verifying your Asian and British-territorial coins everyday with the best quality photos and the best information.
I wouldn't know but a quick look suggests that it's probably a fair price. They only issued 3 coins sets and that was the earliest and the only one with the queen on it.
I usually pay above catalogue for countries that the market value is uaully well above catalogue. Like South Africa, if you can get some of the early South African coins for less than what they're listed for you've done pretty well.
It like my Bermuda penny I paid way below the catalogue value because the seller didn't realise what it was, ok it's not in amazing condition but it's good enough for me not to want another ! I usually wait for these to come up like the Bahamas penny I missed one for £30 when I was on holiday:( but there will be others ! I think the most over paying I've done was about £0.50 for a silver coin ( victoria Ceylon 10C in UNC but for 1 tiny scratch ) however over my lifetime I expect this would appreciate more than 50p !
Catalogue prices are only guides to the value of the coin so my attitude has always been along the lines of this. Say for example a dealer is selling a coin in EF condition but it is very close to UNC then I am willing to spend potentially a lot more than the book value of that coin because it is a really nice example. But this depends a lot on the margin of value between the EF coin and the UNC coin if the difference was say £20 then I would not like to exceed an additional £10 as if I did exceed an extra £10 I would then be entering into the price range for a poor UNC coin. I would also take the same attitude in reverse if I saw a coin in EF grade but it was only just EF or it wasn't a great looking example then I would want it for less than book value.
I find it an interesting what neilithic is willing to pay double for a coin to complete an important part of the collection. I think in that circumstance you are not paying extra for the coin you are paying extra in order to complete a collection.
What are the coins you are willing to pay double for? lol
I have made many mistakes by over paying for coins. Now that I am a little more knowledgeable, I will pay slightly over for a coin I really want. But, I can often hunt out cheap deals. Swings and Roundabouts, I guess.
Verweis : Walder CoinsWhat are the coins you are willing to pay double for? lol
I'm willing to pay double for the rare fijian florins because the catalogue value dosn't really reflect just how hard they are to get hold of The catalogue value of the 1941/45 florins in XF is only $25. I've heard that the 1945 coins are really hard to come by because a lot of them were lost in a ship that got torpedoed on the way to deliver them. I've only ever seen one 1945 florin for sale and I missed out on it, I can't recall ever seeing a 1941 copy for sale. I do however have the rarest coins, the 1937 and 1938 florins, I think there was only 15,000 or 20,000 of them minted.
The other ones I'm willing to pay double for is the cheap pennies that you just can't seem to find. Since the catalogue value is only 75c in UNC I'm pretty happy to pay $1.50 to pick one up, simply because I haven't been able to find one. An extra 75c is nothing.
I picked up an XF Fiji penny 1935 for £2 delivered is that a good price ? Cant say I've seen many before for sale, I'm after the other Fiji coins now too like the florin and 1/2 penny but i won't pay more than £5 inc delivery lol !
The fijian coins are strange because although they're very low mintage, the catalogue price doesn't really reflect it. But that is a very good price, XF 1935 penny catalogues at about US$5 or just over 3 british pounds. I'm lucky that we usually get pleanty of fijian coins for sale over here in New Zealand because we're pretty close to Fiji. However there are some that just never seem to turn up. If you can get some of the silver florins for 5 pounds including delivery you'd be doing very well.
Value is not just based on how much of something there is but also the demand. Take for example Diamonds they are in reality very common but the demand for them is so high that they are extremely valuable.
Verweis : Walder CoinsWhat are the coins you are willing to pay double for? lol
I'm willing to pay double for the rare fijian florins because the catalogue value dosn't really reflect just how hard they are to get hold of The catalogue value of the 1941/45 florins in XF is only $25. I've heard that the 1945 coins are really hard to come by because a lot of them were lost in a ship that got torpedoed on the way to deliver them. I've only ever seen one 1945 florin for sale and I missed out on it, I can't recall ever seeing a 1941 copy for sale. I do however have the rarest coins, the 1937 and 1938 florins, I think there was only 15,000 or 20,000 of them minted.
The other ones I'm willing to pay double for is the cheap pennies that you just can't seem to find. Since the catalogue value is only 75c in UNC I'm pretty happy to pay $1.50 to pick one up, simply because I haven't been able to find one. An extra 75c is nothing.
Hello,
How much would you pay for a Fiji 1 Florin 1936 in XF condition.
Yep, supply and demand, and my personal demand for the coins is high, and the supply is pretty much non-existent so that's why I'm willing to pay more than catalogue value.
Verweis : neilithicbecause the catalogue value dosn't really reflect just how hard they are to get hold of
This is a good point.
After all the catalog is just a guide. It doesn't dictate the market, it reflects it. It may take several years for one country or denomination to be 'hot' before the guide updates its values.
So if you are just buying coins you don't know much about, it's probably a mistake to consistently pay above catalog value.
But if you have a favorite country that you have been interested in for a long time and have been watching eBay values you might find that the catalog is not realistic and you have no choice but to pay more- - -until they update the catalog to reflect reality.
After all, the catalog would never change prices if people didn't consistently pay more or less than they listed.
Like most people... it depends on what it is. If it's something I really want and know that the availability is scarce and that I'm likely to get what I paid for it or more if I was to resell it in the distant future (Probably never happen), then I tend to pay around catalogue price and above. Only time I pay double or triple cat price would be when the coin is hard to come-by but would only cost around 50 cents to a dollar Unc.
All though I'm sure I've paid higher when just starting out.
I'm sure We've all picked up great bargains, even when buying bulk lots so that generally balances it out for me when I make a larger purchases...that is when funds allow it.
As a youngster, I like to find NZ pre-decimal and foreign coins that had made It's way into circulated coinage.
The thought of holding a object of the past with it's hidden history really intrigued me as a youngster...and still does.
I do not buy much now because I do not have any extra funds. When I use to buy, I would pay extra for the coins that I really wanted. Now, I am trying to sell off all my coins to help pay medical bills. I have sold many for less than I actually paid for the coins.
Verweis : coinsoldierI do not buy much now because I do not have any extra funds. When I use to buy, I would pay extra for the coins that I really wanted. Now, I am trying to sell off all my coins to help pay medical bills. I have sold many for less than I actually paid for the coins.
I'm sorry to hear that coinsoldier. I really hope you have an fortunate turn of events to help your situation.
It's sucks to hear you have sell some of your collection for less than what you had bought them for and to put some of your collecting on the "back burner" till the medical bills are sorted.
I did read in another thread what had happened to you. It is disappointing to say the least that the government won't "come to the party" and help you and others that are in the same predicament.
I just can't seem to get my head around their way of thinking. It sounds more complicated than that.
A no brainer I would've thought.
Good luck mate!
As a youngster, I like to find NZ pre-decimal and foreign coins that had made It's way into circulated coinage.
The thought of holding a object of the past with it's hidden history really intrigued me as a youngster...and still does.
Yes, from what I know, it is same in Canada, United States, Great Britian and probably other "civilized" countries. I will manage. Let's focus on coins.
The thing that annoys me is when you can find a coin for under catalogue value but the postage takes it over. I just bought an UNC 1967 Fiji sixpence. The catalogue value is US$2.50 (about NZ$3.00) I picked it up for NZ$2.00 but the postage was NZ$2.00. So annoying when they don't have multiple coins you want so you can combine postage and save a bit of cash.
The way I see it is that when I used to travel to coin dealers it would cost me £5 just to get there and back, and there was no guarantee there would be anything I wanted; so if I have to pay a little postage I don't mind.
Verweis : neilithicThe thing that annoys me is when you can find a coin for under catalogue value but the postage takes it over. I just bought an UNC 1967 fiji sixpence. The catalogue value is US$2.50 (about NZ$3.00) I picked it up for NZ$2.00 but the postage was NZ$2.00. So annoying when they don't have multiple coins you want so you can combine postage and save a bit of cash.
The problem for the seller on Ebay is that it costs so much to sell on Ebay and collect payment by Paypal. If the seller sells his coin for $2.00 and charges $2.00 for shipping & handling, it costs the seller as follows:
$0.25 Ebay listing fees each time he lists that coin
$0.48 Ebay seller fees
$0.54 Paypal seller fees
plus actual postage
plus actual packaging costs
If the seller has an Ebay store it costs $19.99 (minimum) per month for the store so if he only sells 40 items per month that is another $0.50 per item sold. In addition, the seller has to pay an additional $0.20 per item per month for every item listed in the store even if the item does not sell.
In summary, if the seller sells a coin for $2.00 that cost him $1.00 and if he charges $2.00 for shipping, he may actually lose on that item depending on the variables mentioned above.
But I buy most of my coins from the New Zealand site Trademe. It's free to sell, there's no listing fees unless you buy the extras and you only get charged a success fee of 5% of the sale price when the auction sells, no sale no fee and the free relisting if the auction doesn't sell. There is a minimum success fee of 50c though.
I am willing to go far over the catalogue price, this is partly because I feel that the KM is way off with regards to the stuff I buy, sometimes I pay 30 times catalogue price, but the way I look at is this,
The coin has not been sold for 6 years, (on eBay, MA- shops etc etc) so I want it, and I am willing to pay
for Danish or Dutch coins I will use a local catalogue (they are often more realistic) but still if it is rare I am willing to pay over the catalogue price.
I agree a lot of the catalogue values are way off. It was the same with New Zealand stamps a while back. You could pick them up overseas for a fraction of what you could in New Zealand because the worldwide catalogues like Stanley Gibbons really didn't update their prices for years to reflect the market. I see it in some areas in coin values as well. The early South African coins for example are catalogued at hardly above bullion value in XF condition but you'd be extremely lucky to pick up a coin for that in the market. It's the same for Russian coins, they seem very popular at the moment.
Catalog value is a very relative definition, since there are different catalogs. There are Krause catalogs of world coins and there are national catalogs in many countries. If you compare prices of English coins in Krause and Spink you'll see the big difference (I always suspected that authors of Krause thought that UDS and GBP exchange 1 to 1). A similar picture is for German, Austrian, French, Belgian and Portuguese coins in Krause and European catalogs (in European ones coins' prices are usually higher). Russian coins' prices are also way off the mark in Krause.
It is useful to base your judgement on national catalogs, if possible. Most rare coins are undervalued in Krause. Needless to say that prices of silver and gold coins with big component of coin's value based on the metal price are also below market.
Therefore I would suggest to use catalog value (especially Krause catalog value) for general orientation only, but not as a limit of what you are prepared to pay for a coin, in particular if it is a scarce coin in better grade. It's worth looking more at mintage rather than on CV.
I collect coins and tokens which circulated in Africa from 18th century to 2000. I sell about 7000 illustrated world coins from http://www.avscoins.com.
Canada Coins - Use Canadian Coin News (published bi-weekly) as a great source and truly reflects current value.
United States Coins - Use Coin World (published monthly) as a great source and truly reflects current value.
Verweis : coinsoldierCanada Coins - Use Canadian Coin News (published bi-weekly) as a great source and truly reflects current value.
United States Coins - Use Coin World (published monthly) as a great source and truly reflects current value.
I tend to go with this one for USA coins, it seems pretty detailed
