everthing you wanted to know about buying & selling coins by michael s. fey, ph.d
TRANSCRIPT
![Page 1: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/1.jpg)
EVERTHING YOU WANTED TO KNOW ABOUT BUYING
& SELLING COINSBy
Michael S. Fey, Ph.D.
![Page 2: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/2.jpg)
The Numismatic Market
• U.S. & Foreign coins
• Paper Money
• Tokens
• Medals
• Encased Postage Stamps
• Exonumia (Related items such as coin glass, coin art, coin jewelry etc.)
![Page 3: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/3.jpg)
COLLECTION VS.
ACCUMULATION
• Accumulation—not organized; bag or drawer full of coins; pulled from circulation and handed down.
• Collection—organized, typically in albums or flips, carefully protected against environmental damage; date/mint mark order; typically includes Mint products and purchased coins from dealers.
![Page 4: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/4.jpg)
Grading Guides
• Official A.N.A Grading Standards for US Coins-American Numismatic Association
• Coin World’s Making the Grade.• Grading Professionals & Grading Services• Scale 1-70 (Strike, Luster, Contact Marks,
Overall Eye Appeal); Circ.1-AU58’ MS 60-70 (Good, VG, Fine, VF, Ex Fine, Almost Uncirculated)
![Page 5: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/5.jpg)
Variety Guides & Collector Clubs
• Cherrypickers’ Guide—Bill Fivaz & J.T. Stanton• Top 100 Morgan Dollars: The VAM Keys—
Michael S. Fey, Ph.D. & Jeff Oxman• Bust Half Dollars—Al Overton,
Glenn Pederson, M.D.
• Early American Copper—EAC, Sheldon, Noyes
• Join ANA & Access LibraryErrors & Varieties
![Page 6: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/6.jpg)
Population Reports
• PCGS, NGC, ANACS Hard copy
• Online Reports
• Rare vs. Modern
• High Grade “Condition Census”
• Cost: $15-30 per coin; recommended for $200+ coins
![Page 7: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/7.jpg)
Pricing Guides
• The Official Red Book, A Guide Book of U.S. Coins—Ed. Ken Bressett (since 1947)
• The Official Blue Book, A Handbook of U.S. Coins (Selling)-- Ed. Ken Bressett
• Krause Standard Catalog of World Coins• Coin Dealer Newsletter (CDN)-Blue Sheet &
Graysheet• Coin World Trends, Numismatic News, CoinAge• Auction Prices Realized (ie. Heritage, Stacks,
Bowers & Merena)
![Page 8: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/8.jpg)
Pricing• Based on Supply and Demand• Wholesale vs. Retail (Buying/Selling Spread) • Highly dependent on metallic composition (gold,
silver, copper, bi-metallic)• Highly correlated with grade• Highly correlated with variety• Somewhat correlated with age• Raw vs. Certified (PCGS, NGC, ICG, ANACS)
![Page 9: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/9.jpg)
Buying
• For the Joy of Collecting—For Fun Only
• Collector-Investor—For Fun & Profit
• Investing—ROI only consideration
• Engage a trustworthy Professional
• Buy the books, read, study, take ANA courses, visit shops, shows, seminars
• Start with PCGS/NGC Certified Coins
![Page 10: EVERTHING YOU WANTED TO KNOW ABOUT BUYING & SELLING COINS By Michael S. Fey, Ph.D](https://reader036.vdocuments.net/reader036/viewer/2022062519/5697bfbb1a28abf838ca0d0b/html5/thumbnails/10.jpg)
Selling• Buy Pricing/Grading Guides (Blue Book)• Get Appraisals from trustworthy dealers (shops, shows, professionals)• Check prices for comparables on E-Bay• Consider wholesale vs. retail• Consider sales effort--time• Consider best option: holding vs. selling
Copyright 2007 Michael S. Fey, Ph..D., RCI 973-252-4000; [email protected]