I had grown accustomed to looking at the PCGS value of a particular coin and the CAC value. The CAC price guide value was almost always higher, however, as of late, the PCGS prices have been higher. Is this just a lag in CAC updating it's guide, or something else. Opinions please.
Comments
- Ian
In my opinion, for coins not recently purchased, a stronger case can be made by using the two guides you mention than using a small handful of auction results, especially since these guides are now updated more frequently than years ago.
However, for coins recently purchased before death, assuming these were arms length transactions, in my opinion would carry more weight than the guides. Since the eye appeal of every coin is different, a recent price paid, in my opinion, would be the strongest factor for determining stepped up cost basis.
Steve
Your reasoning here is extremely helpful and basically what I was hoping to hear. I would like to know if anyone else has any suggestions and I know to not read the posts as "advice" in the legal sense. I also anticipate the FMV will be an interesting "challenge" for estate planning if (or dare I say .. when) the stepped-up cost basis (for collectibles) is eliminated from the US tax laws. Thank you so much!
--John
2 days later ( next business day ) the PCGS price guide went from $55,000, to $62,500 for another day or so then settled at $65,000
The 23D , 24 , 27 & 28 Saints in ms 67 were bumped to $22,500
Id like to think I had some influence in getting that updated .
Frankly it comes down to cost plus or what I do above. Don’t have time ponder how the big guys operate. I just keep my operation basic / simple and work my angle for my business lol. I do believe auc bid up and have not bought anything via auc in ages. I mainly view auc as what sold for steal or somebody way overpaid (end user).
I do not know who or what CAC uses.