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 USPI coin prices

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al.plata



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PostSubject: USPI coin prices   Tue Feb 01, 2011 8:25 pm

I just purchased 4 coins, all USPI issues and I am not very sure if I had a good buy or a bad deal. Last month I tried to locate an address given by a friend where he saw some beautiful coin collection. When this owner showed me the coins I was very happy and he told me to come back after one week. Today he showed me another set of coins from where I chose some. He sold to me a 1909s 10c in AU+ condition, a 1907(p) 10c in XF+ condition, a 1903s 10c in VF- condition and a 1909s 20c in VF- condition for a total amount of P3,500. What do you think? Thanks..
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mahilig_sa_coins



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PostSubject: Re: USPI coin prices   Wed Feb 02, 2011 2:15 pm

If the coins have been properly graded and not cleaned then you've made a just investment. Sad to say that most new collectors here in the Philippines are improperly trained by pawnbrokers, precious metal traders, and scammer. Most of them based their buying price on melt value only and not on grading or catalog value. That is the reason why most of them prefer to buy crown sized coins rather than small denomination coins and silver coins not copper or nickel coins. Medyo tuso na ang mga local dealers dito. That is why I already stopped attending auctions and would rather prefer buying coins from trusted friends and contacts. If you'll approach them, they'll tell you all the bad side of your coins but won't teach you how they came up with the answers. Please post some pictures so everyone can see your coins. I admire the owner of this site for his effort of educating new collectors. Sana yung mga long time dealers ganyan ang ginawa nila so we could continuously enjoy our hobby.
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richardthebrave



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PostSubject: Re: USPI coin prices   Wed Mar 02, 2011 10:48 pm

" Sad to say that most new collectors here in the Philippines are improperly trained by pawnbrokers, precious metal traders, and scammer. Most of them based their buying price on melt value only and not on grading or catalog value. Medyo tuso na ang mga local dealers dito. That is why I already stopped attending auctions and would rather prefer buying coins from trusted friends and contacts. "


put yourself in the shoes, why would they buy it at grading price or catalog price?

i am not a dealer of coins, but being someone who have done small businesses myself bakit ko i-price ang cost of buying raw materials on retail price also? eh di lugi ako kapag nagbenta because my price will automatically be higher when i sell it back. going back to the coin dealers topic: ikaw ba bibili ng coin na mas mahal than catalog value? siyempre hahanapin mo yung nagbebenta at the right catalog price, correct? hence it is justified the dealers must get their coins at lower prices to be able to sell at catalog prices. Smile

i'll give you an example, the US has such a thing known as the RED BOOK of US coin prices. this is where we US Coin collectors look for guidance on catalog prices. pero hindi alam ng karamihan, that same publisher also created the book for dealers known as the BLUE BOOK. this is the book which dealers use to base their prices on when buying coins from people who want to dispose of their coins (for US coins lang). this BLUE BOOK sometimes give prices smaller than melt spot.

tsaka auctions, auctions are supposed to generate MORE than the catalog price. so ano problema sa auctions? if there are more than two of you who are salivating over a coin, conflict escalates to a bidding war right? kung ayaw mo sa coin, or find the starting price too high, then don't buy. nobody is forcing you.

what is wrong is overpricing. i think i saw USPI Pesos in ebay selling at 4K PHP, hindi naman rare yung binebenta. same din with US Morgans, asa 4K, 6K, 10K lol!

i do not agree on what you are saying, parang sinabi mo na walang dealer dito na mapagkakatiwalaan. that's wrong imho. don't generalize bro, baka yung ibang kausap mo dito dealers pala na honest, hindi mo lang alam. nakakasama ka ng loob sa iba.
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al.plata



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PostSubject: uspi coins   Thu Mar 03, 2011 11:10 am

most uspi coins sold at auctions are taken up by bidders, but you have to be on the lookout for questionable happenings (I would tell you what when we get to talk one of these days). most coin traders are selling for a profit but you must be wise enough to know the right prices specially these times when silver is going up. the coin traders becomes friendlier after selling to you some coins (as they will realize that you are a good buyer, an interested collector and not an ordinary profiteer) and will even allow you discounts not given to others. some friendly coin dealers even allow me to exchange ugly coins with their prettier stocks. internet sellers are out of touch with reality and daydreamers, with their outlandish prices, look at the asking prices in several local internet sites, small silver pesos are sold for two to five thousand pesos even if they are in Fine minus grade condition. I once encountered somebody who is trying to sell her 1/2 centavo for ten thousand pesos (wow), she told me that a lawyer told her that is the right price. lol...
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richardthebrave



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PostSubject: Re: USPI coin prices   Thu Mar 03, 2011 1:24 pm

al.plata wrote:
most uspi coins sold at auctions are taken up by bidders, but you have to be on the lookout for questionable happenings (I would tell you what when we get to talk one of these days). most coin traders are selling for a profit but you must be wise enough to know the right prices specially these times when silver is going up. the coin traders becomes friendlier after selling to you some coins (as they will realize that you are a good buyer, an interested collector and not an ordinary profiteer) and will even allow you discounts not given to others. some friendly coin dealers even allow me to exchange ugly coins with their prettier stocks. internet sellers are out of touch with reality and daydreamers, with their outlandish prices, look at the asking prices in several local internet sites, small silver pesos are sold for two to five thousand pesos even if they are in Fine minus grade condition. I once encountered somebody who is trying to sell her 1/2 centavo for ten thousand pesos (wow), she told me that a lawyer told her that is the right price. lol...

i agree marami sa internet auction sellers lalo na sa ebay philippines masyado mahal at speculative too much ang prize and some of them are already posting prizes na nasa fantasy world.

lol!

baka may tinamaan na mga ebay philippines poster dito ah, pasensiya na, iba sa inyo mali pricing.

i prefer going to dealers na makakausap ko ng mukhaan. though i have transacted also with reputable dealers in the past through forums pero taga-ibang bansa. so far ok naman kadeal.
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ericgo



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PostSubject: Re: USPI coin prices   Wed Mar 30, 2011 4:42 pm

most of the sellers in ebay sell their coins at very high prices. there are a few sellers on ebay.ph though who are very nice to deal with and will not overcharge you for their coins. Usually the reputable dealers on ebay know each other and you will more likely meet them in the local auctions. The best sellers on ebay are those who are known by the coin shop owners.

If you have the chance, you can ask jun of JC Coins about the sellers he knows on ebay and for sure he will mention some of them to you.
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Newbie



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PostSubject: Re: USPI coin prices   Fri Apr 01, 2011 11:51 pm

Lagi kong ginagawang practice kung mamimili ako ng coins ay lagi kong tinatanong ang sarili ko kung magkano ko mabebenta ang coins kong bibilhin pag ako ay nagipit. Kaya importante sa akin ang buying at selling price ng mga dealer dito. Kaya para sa akin ay hindi good buy ang 60 centavos sa 3.5k php...sa melt value lang yan bibilhin ng mga dealer dito pag nagipit ka.

Ok sana kung madaling magpasok sa auction ng mga coins...pero ang feeling ko sa auction ay kontrolado 'to ng mga dealer??? Swerte ang mga officers ng isang coin club dahil malamang ay sa kanila unang tatakbo ang mga collector/heirs na gustong mag-dispose ng collection tapos ay ibebenta lang sa kanila ng mura...kaya ang laki ng potential profit.
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