I have often wondered how the catalogs establish values of the coins listed therein. I know that with rare U.S. coins, statistics are kept on the number of sales and prices paid (now much easier since "certification"), but for international, obscure pieces, such as my music collection pieces, prices are anyone's guess and I very much admire the work of the SCWC guys for their diligent work in this regard. I use their pricing constantly as a "guideline", and often find coins right on the prrice mark, as well as pieces selling (or should I say "offered") for much higher and much lower prices. One example, though I am sure everyone here has many examples as well:
I have been hunting for a Mongolia KM-54, 1989 25 Tugrik as it has a beautiful picture of a child playing a "horsehead" fiddle. Two are available on E-Bay now for $105. The catalog price in SCWC is $28.50. I found one on DelCampe for about $35 plus shipping, which I ordered. Still waiting but it's only been about 2 weeks. I have picked up gold pieces (small coins...but "scarce" and priced much higher than gold content) but with a bit of hunting, I have purchased them for just a few $ above gold content (before gold went above $1400...my gold buying has slowed considerably).
I guess my point is, as someone else said and I have read countless times in the Numismatic literature, "a coin is worth what someone will pay for it"....or something to that effect.
I collect my music coins for the love of the coins...not the "value". Still, it is nice to know that on many occasions, I have added a coin to my collection at a bargain price in comparison to catalog listings. I got every coin in my collections because I got them for what I was willing to pay for them.
I'm sure it is no secret, that silver coins can be purchased often for significantly below silver content. I have been doing this for years...not as collection coins...but because I am a little bit of a worrier regarding the world situation as a whole and silver/gold might in fact be the only means of negotiable currency at some point. I will probably never see the day this happens, but as a "backup" just in case, it gives me a bit of peace of mind. At $40 an ounce, I picked up a beautiful Austrian Proof 100 schilling coin,.5787 oz of pure silver, for $14 and frequently bid and win on beautiful coins selling for less than their intrinsic value. Ask the question, what's THAT coin worth, and I can tell you to the cent. Ask what my musician coins are worth, and I'd say "priceless" since I have 40 years or more of my life invested in their acquisition. I don't have a lot of "bulk silver", but in a "crisis", I might be able to feed my family for a while. But then...my financial planner keeps reminding me, if things really get bad and there is a worldwide economic collapse, you can't eat gold or silver. He laughingly advises me to collect canned foods.
Did I get off the topic again??? Alan...