Is Brian Hern's credible?

[PtaCoinsCollectables 10]

??? Is the Brian Hern's Coin Cataloque really credible?

Please refer to this link ; Proof Sets - South Africa - 1962 Gem Proof Crown 5/- PCGS PR67 - FINEST KNOWN was sold for R800.00 on 12 Jan at 21:16 by PtaCoinsCollectables in Pretoria / Tshwane (ID:31332709)

 

Herns value in proof ; R1000 [ 1962 proof 50c]

 

finest known sold for R800?

 

Apart from internationally known scarse coins [which always fetch higher prices than herns value]

 

Can we really take him seriously??

 

99% of the time his values are way over estimated,,, and where it matters his is under estimated?

 

Your opinion is much appriciated!

 

Regards

Clinton

[jwither 17]

This is a topic that has been covered numerous times previously.

 

In my opinion, the answer to your question depends upon what your expectation is regarding the accuracy of a price guide. Since I have no expectation whatsoever that an annual price guide will EVER be accurate in reflecting actual maket prices, I am neither surprised nor disappointed that it does not do so.

 

In my opinion, the problem arises when anyone does expect this accuracy when in actuality, there is no reason to expect it at all. I find Hern's guide useful for general reference purposes. For example, to look up mintages or to refresh my memory on some specific coin like one of the Union patterns which NGC graded recently. Its also POSSIBLY useful in assessing relative scarcity using relative prices even though the actual prices are not generally accurate.

 

However, anyone who uses the guide to decide how much to pay for a coin or how much to sell it for is making a mistake. For that purpose, I ignore it (and the US Krause version) entirely. When I have sold coins, I have had potential bidders say "Why is your price so high? The guide says it is worth X?" I tell them that I could not care less what the guide says. I buy and sell my coins based upon my perception of actual market conditions using the price information available to me and my opinion of a specific coin's scarcity in a specific grade. If that means that a coin is worth more (generally for UNC coins especially scarcer issues) or less (many or most others), then I will either buy or sell it close to my price or not at all.

[Rare NotesCoins 11]

Hi Clinton.

 

You cant blame him for sales not achieving prices. There was an interest in it as it did sell. He has given a guideline, but as I always say the market decide what the coin achieve .People only thought that the coin was worth only R800. If it was 2007 we would not see questions like these coming up , because everyone got Herns top price and more. Times have changed and we need to addapt as well. If you look at the cat. only Unc and proof coins made a big jump. True that some dont get close and some goes way over the price. I dont see anyone else coming up with a suggestion that clearifies the issue with pricing.

 

The cat is a guide to people what to pay as a max not as a golden rule for all coins. Graded coins dropped but brilliant graded coins just keeps on rising.

Strange that when we sell we never happy with the price we get, but when we buy we always want it as cheap as possible. Who has ever bought a bargain and complianed about not achieving Herns cat price? No one!!!

 

Some one in a sale will always be happy, but another person will not be!!!

Think about it!

 

Morne :wink:

[PtaCoinsCollectables 10]

I Am not unhappy, i have won and lost many times.

 

I just feel that the prices are misleading which can harm new comers to the coin market, most inexperienced collectors especially offline use that book as a bible!

 

furthermore it is a bit contradicting that Mr Hern will sell his own coins at values that do not match his own evaluations by far.

 

What are new comers to make of this?

 

I understand that no person can get the values right 100% but a coin valued at R5000 in fine (catalogue) and sells for R100-R200 is just way off the mark.:rolleyes:

 

Herns handbook is a fantastic handbook on coin information, perhaps now he can start working on more realistic values to better suit the SA market.

[EWAAN Galleries 11]

Hi All

 

The Herns Catalogue is a good guideline for new collectors so we must give him credit for that. but he does not do it for free... He does make a profit on his books...

 

As Far as Prices and mintage figures are concerned, no author can be 100% correct - its impossible!!!!

[RISadler 10]

Radical suggestion, but I have always felt that catalogues should not state any values. A good catalogue should be a complete as possible guide to what is out there and how many coins where minted/stamps printed/FDC's issued. A collector can then determine the value from these figures.

 

Problem is the newcomers to the hobbies, who do not have the knowledge/experience to use said figures above to calculate value. Unfortunately, it is also these very same newcomers who are generally fleeced by paying "cat" prices.

 

(I don't collect stamps anymore, because SACC and the PO have turned it into a money-making racket - again. From what I've seen, The Mint is doing the same to you guys.)

[Pierre_Henri 76]

The Devil is in the Detail ...

 

Brian Hern must get a professional proof reader before he publishes his catalogue.

 

The spelling and factual errors (I am not referring to his prices) really beg for some professional help.

 

E.g. Eben Donges was a President?

 

The whole publication seems rushed for the publication date.

 

(My wife bought me Hern’s latest catalogue for Christmas and I have read it from front to back)

 

Hell, we have nothing else so just as well can give him all the support we have – I will be sending all my comments to him directly.

 

Pierre

Edited January 13, 2011 by Pierre_Henri
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