Why the big discrepancy?

[kchan1111]

Another newbie question....

:blush:

Got my Maccas book and I have going over it.

I noticed that there are quite a bit of discrepancies between prices quotes in the book and some of the estimates on numisbid for instance.

The pre-decimals seems to be universally higher in the book than estimates. I have seen many threads discussing this. I guess a book printed a year ahead can never be the same as prices in the open market. It's higher but not outrageously higher.

But then the decimals coins are almost an order of magnitude difference. Take this one for instance

From numisbid:
Australia Type II - 1988 Proof Ten Cent
Estimate: $1000 - $1250
Lot 234   PCGS   PR70DC

The same in Maccas is listed as 5??? Am I just making some embarrassingly simple reading mistake???

:blush: :blush: :blush:

[trout]

A PR or MS 70 coin is a far cry from an uncirculated coin and the value reflects that , a grade of 70 is a PERFECT coin :ok:

[ausproofs]

Another newbie question....

:blush:

Got my Maccas book and I have going over it.

I noticed that there are quite a bit of discrepancies between prices quotes in the book and some of the estimates on numisbid for instance.

The pre-decimals seems to be universally higher in the book than estimates. I have seen many threads discussing this. I guess a book printed a year ahead can never be the same as prices in the open market. It's higher but not outrageously higher.

But then the decimals coins are almost an order of magnitude difference. Take this one for instance

From numisbid:
Australia Type II - 1988 Proof Ten Cent
Estimate: $1000 - $1250
Lot 234   PCGS   PR70DC

The same in Maccas is listed as 5??? Am I just making some embarrassingly simple reading mistake???

:blush: :blush: :blush:

Blue sheet prices are updated all the time based on market trends whereas Mecca book is updated once a year. I would go by the Blue sheet prices...

[kchan1111]

A PR or MS 70 coin is a far cry from an uncirculated coin and the value reflects that , a grade of 70 is a PERFECT coin :ok:

Oh I see... so 5 was just any average proof coin. But grade of 70 PROOF coin is perfection.

I was looking at the magnified pic on numisbid and I honestly never thought how the old humble 10c coin can look so beautiful. :heart:

Will check out blue sheet!

[robbiegal]

for a newbi (hi!)
these estimates and grades are for a specialty market
the blue sheet has the humble 1964 penny having a value of about 5c (last that I looked)
put a high graded one in a PCGS slab for sale in the numisbid auction and the whole story changes

there are market values and then there are specialised markets - the numisbid etc (purple penny, drake sterling etc) pcgs - is a specialised collector market place

if you are an everyday collector then the maccas or rennicks are just fine as a general buying reference point

never dive too deep if you haven't yet learnt to swim

[kchan1111]

I can tell from the estimates that the coins on numisbid are no joke! $1000 for a 10c!

My (perhaps misguided) theory was until I know how to spot fakes, grade coins myself, I am better off buying pcgs graded ones. At least I know what I am getting? No?


:-/

[robbiegal]

dunno
that is your call

I am not a megga pcgs fan so i'd be biased in my advice

get a mentor
hang around a good forum like this one
go to shows  
handle lots of coins and get to know what they look like

but if you only collect the rarer coins then fakes are more on an issue

trouble with PCGS grading is that Australian coins are graded in a different system to the American one

what will you be collecting or do collect?

[kchan1111]

tbh I still don't know yet really. I quite like the designs on all the florins.

I used to have a stash of quite a few different $1 coins designs until someone in the house spent it all! :ireful:

The VC coin ballot on the news got my attention recently. (Yes I was lured in by a piece of what some would considered - grannybait.) But when I came across the high relief mob of roos I just thought jeez that's awfully nice. I would love to do it in a more serious way as a hobby. (Like to start - store them away properly!)

[dcoin]

Purchase coins you like, don't spend too much money while you are starting out.

[proof27]

tbh I still don't know yet really. I quite like the designs on all the florins.

I used to have a stash of quite a few different $1 coins designs until someone in the house spent it all! :ireful:

The VC coin ballot on the news got my attention recently. (Yes I was lured in by a piece of what some would considered - grannybait.) But when I came across the high relief mob of roos I just thought jeez that's awfully nice. I would love to do it in a more serious way as a hobby. (Like to start - store them away properly!)

May I just say that grannybait is pushing $1000 with plenty of bidders. Great choice to start with, Florins. Graded coins is a comfort knowing there the real deal, I nearly lost $717 buying a 34/5 Centenary Florin, lucky I paid through paypal and being refunded total cost. Be careful, sharks everywhere, but that comes with knowledge as I'm still learning as well.

[robbiegal]

I think grannybait is a terrible term that a (very nice) member here coined (pardon the pun)

the RAM does some beautiful coin work & if you go to the Royal Australian Mint and get a chance to go into the proof making room, you will see those coins in a different light and respect them for the hard work that goes on behind the scenes to produce them (end of rant)

just take your time and enjoy where ever the hobby takes you
I started with notes, then decimals and gradually developed an interest in the aussie pre-decimals

I have a fabulous mentor and have learnt a tremendous amount from him - grading, history minting processes, market forces, about being a coin dealer (buying ad selling) and so on

the purple penny blog has zillions of articles and photos - it is a good starting point if you are good with the internet
plus the PP shop has archival quality coin storage thingees too

[trout]

when I came across the high relief mob of roos I just thought jeez that's awfully nice.

Me to, nothing wrong with grannybait that actually looks like an Australian coin and being a Fan of the 25mm $1 issues it was a "No brainer" for me to  grab that coin :angel:
Mob of roos design and a Piedfort coin to boot, You can balance this puppy  on its rim :dance2:
It is currently at the "Plastics Factory" at the moment.
Sad to hear that your collection got spent, That is so sad, The $1 coins are hard enough to get a full collection without uncaring sods spending them on you.
Sorry for your loss Mate.

[proof27]

P.S.
You will learn a lot from this forum as I am, folks are nice and massively cluey with there coins.

I think grannybait is a terrible term that a (very nice) member here coined (pardon the pun)

the RAM does some beautiful coin work & if you go to the Royal Australian Mint and get a chance to go into the proof making room, you will see those coins in a different light and respect them for the hard work that goes on behind the scenes to produce them (end of rant)

just take your time and enjoy where ever the hobby takes you
I started with notes, then decimals and gradually developed an interest in the aussie pre-decimals

I have a fabulous mentor and have learnt a tremendous amount from him - grading, history minting processes, market forces, about being a coin dealer (buying ad selling) and so on

the purple penny blog has zillions of articles and photos - it is a good starting point if you are good with the internet
plus the PP shop has archival quality coin storage thingees too

I though grannybait was the lingo in coin world , not just what someone here made up. Not hard to guess.

[Sapyx]

The term "grannybait" or "granny bait", as a disparaging term for new releases from the mint, is not unique to this forum. I think the Canadians can claim credit for coining it. The RCM has certainly had a worse reputation than either of the Australian mints, not only for producing it themselves but also for on-selling such issues produced by other mints.

[kchan1111]

It's my fault that my little $1 collection got spent. I just have it in a jar. Hardly the most professional storage solution. I now realise they are a lot more delicate than solid lump of metal.

I have been reading this forum and many other blogs, including pp's. The more I read the more fascinating I find it. I am limiting myself to under $100-200 or so max on anything I spend - limit the damage if I make a mistake. But even some on Numisbid is less than that. So giving it a go.

I work very close to couple of coin shops. Wynyard Coins and Jaggards. So much too look at in Wynyard Coins. And this fancy looking place called Noble - so fancy I feel too intimidated even to go inside!

Next time I'm in Canberra will definitely go visit RAM.
I think term grannybait is more disparaging for the granny's, considering what some of them looks like. No respectable granny would consider such rubbish.

May I just say that grannybait is pushing $1000 with plenty of bidders. Great choice to start with, Florins.

If I got in the ballot (I didn't!) I would sell it on eBay and use the money to get me some nice Florins. :yahoo: