There are lots of coin price tag guides published weekly, bi-weekly, month-to-month and yearly. They occur in the sort of magazines, newsprint, “very hot sheets”, and guides. All of us have referred to one of these from time to time to determine what a certain coin could possibly be well worth. Still, couple of us halt to think about what we are having from any one of these Cost Guides, further than the price tag or benefit of a coin. Right after all, will not price tag guides, just give you the price tag? What else is there?
Simple to an understanding of price tag guides are two items: 1) the Quality of the Coin and 2) the Basis of the price tag information. Recognizing the Quality of the Coin is required ahead of one can commence. Declaring so seems to be evident, but what more does it suggest?
Until the coin is Graded by an suitable Experienced Grading Organization, which has specified what Quality and Identity has been assigned to the coin, most of us are making an assumption about the actual Quality. This assumption we make can be pretty harmful because of: a) the problem in grading a coin and, b) the various achievable results or results that come about. One particular Quality “stage” or amount can make the variation in hundreds or hundreds of bucks in the Price of a Coin.
Cost Guides assume that YOU presently Know the Quality of the Coin. This is why we have the Initially Rule of Coin Collecting: Know the Quality of Your Coin.
Secondly, ALL Cost Guides are started on the similar Basic principle, which is that the Coin, whose price tag you are hunting up, has been Graded using one Grading Typical. That Grading Typical is established by the ANA – American Numismatic Association – and is entitled the Formal Grading Expectations For US Coins.
Therefore, ALL Cost Guides have a “silent assumption” created in to their information which is that the Quality that YOU make your mind up on, is the True or Accurate, and that this sort of Quality is centered on the ANA Expectations.
The very first problem that arises is that most people today never ever know if the Quality that they have made the decision on is Accurate. Of study course, this problem never ever arrives into problem, if the coin is Skillfully Graded by an suitable organization. There are only 4 (four) reputable Experienced Grading corporations that strictly stick to the Rules established by the ANA, and they are: PCGS, NCG, ICG, and ANACS.
The 2nd problem arises because of this “silent assumption” or Basis of all price tag guides is irrespective of whether or not the Quality has been made the decision on using the Rules or Expectations proven by the ANA. If you will not have the expertise and education of a specialist coin grader, the final decision is probably questionable.
Even if you do have the expertise and education of a specialist coin grader, the final decision is however probably questionable. Why? Mainly because even specialist coin graders have differing views. This is why the reputable specialist coin grading corporations require the views of a few (3) specialist coin graders to arrive at the “Quality” designation to be placed on each coin.
The evident summary is that a Critical Coin Collector is likely to commit in uncommon and present day cash that are graded by one of the Leading 4 reputable Grading corporations. It is the only selected way to get rid of the disagreements and arguments about the Quality of Any coin being Acquired or Marketed! It is the only selected way one can Price their coin selection. It also eliminates “having taken” or cheated buying raw cash.
Have exciting amassing your Ideal Coins!
Robert L Taylor, JD
Copyright 2006, Robert L Taylor, JD