If fewer people want to get a coin with mintage of 80,000 and more people want to get the coin with mintage of 5,000,000, then their values might be relatively equal. It's the law of supply and demand.
Rarity means nothing to me; if they have a coin I want and I have one they want I will swap so long as the intrinsic value is similar, as small countries like say Fiji won't mint such high figures as it's only small but might not be collectable.. But then occasionally you get the double rule (small mintage figures and highly sought after) like The Gambia and especially the Gold Coast "/
As Denis mentioned I also believe strongly in the law of supply and demand.. Sure there are plenty of coins people say are not scarce, and are readily available, but try finding one.. I look at book value but I place more importance on mintage quantities, that gives me more about the the coins "potential" value.. And I like real time statistics on value and rarity. For example the book list coins at $50 that sell all the time for as low as $25 or as high as $100.. So Ebay is a good, real time, index of what people are willing to pay. Which to me is the true indication of "demand" and "value"..
One of my favorite things about Numista is the rarity scale, I have come to rely on it greatly to measure my coins. This to me is more of a real time indicator of a coins availability and desirability.. Sure you could say rarity means nothing, but there is a bit of a reality check when you look at Numista's rarity scale and see the coin you want is a 16 with dozens of people to get it from.. And the coin your giving up is a 95 and You are the only one willing to swap it..
It doesn't mean a lot on here as we all seem to collect the same things, whether it be british colonial or UN or other empires. So some coins which are usually rare are common on here - still only means a handful of members have them. There's also the people who are out to scam that will mark they have 'em to look like a high-end collector. Look at the new zealand shillings that are silver, the british indian rupees and african silver shillings etc - they have a rarity rating in the 20's some of them, but still command a high premium. I usually use ngc but have learned you can't always rely on it, as the most recent thing i've found wrong is the bikanir state 1 rupee; its value is about £15 in F-VF but it's selling for no less than £30 in any state. I was lucky to get it at ngc's rating but seriously if i could get some of the coins i want at their prices i would buy them all up !!
NGC caters to American collectors so routinely undervalues British Colonial issues.
Take a look at the prices for British India coins, then compare the French mid century colonials, Reunion, Polynesia etc.
It's the same story at Numismedia for US coins which is supposedly an aggregate of current auction prices. The older types of coins are often sold through Heritage who authenticate them, grade them and value them. Any coin sold through HA can be safely assumed to be genuine. For us po' folks who buy our coins through eBay the Numismedia values are way off.
As we are swapping rather than buying and selling the value is purely relative and as long as you are both using the same system/site it should be fine if you adjust for known discrepancies.
However, beware being offered a swap by someone who uses one site for his coins and another for yours (to his advantage of course). It's been tried and while I drool a lot and have been known to lick an occassional window, momma didn't raise no fool!
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
Quote: pnightingaleIt's been tried and while I drool a lot and have been known to lick an occassional window, momma didn't raise no fool!
I tried that up here, it's not a good idea.
Definitely, both parties should use the same source. When stuck, both parties can also check the completed auctions on eBay (or another auction site). Green tells you what others paid for a similar coin.
Quote: coinsoldierNegotiate until both parties are satisfied with the swap.
That works out better in theory than in practice coinsoldier, or as I like to put it "easier said than done". Especially when negotiating coins that are "unequal" in some regard. Whether that be difference in metalic compostion, value, or scarcity...
This is further compounded by the swapper's perceived value. As you can see in the comments, everyone has their own opinion of this. And sure we can all talk a good game about not caring how scarce or valuable a coin is.
Try this, find one scarce, valuable or hard-to-find coin on anyone's swap list and offer them a common coin(s) in exchange and see how far the negotiations go .. Well the first challenge will be finding many swappers with these type of coins up for swap.
I think it's really up to both parties to negotiate -- I've met some nice swappers here who were patient in communicating and even gave more than I expected. On the other hand, swappers who outright rejected my offer are also right that we don't waste any more time.
Sometimes, it depends which side of the bed I woke up too right?
