The (not so) golden tip: Why online coin appraisals are sometimes nonsense
Ringing alarm at Bernhard’s Coin Magic! Bernard adjusts his glasses and picks up the phone. “History at pocket money price? “This is Bernhard’s coin magic!” he greets us kindly.
“Bernard, old stamp friend! Do you remember Uncle Norbert’s Krugerrand?” asks an excited voice on the other end. “The one that looked like a giant chocolate coin?”
Bernard laughs. “Exactly that one! Have you finally gotten over your chocolate addiction?”
“Oh nonsense, Bernard! Apparently it’s worth a fortune! Some online appraiser said it was a ‘Proof Krugerrand’ and could bring in a lot of money!”
Bernard’s smile fades a little. “Harold, these online estimates are like fortune tellers at the fair. Funny to listen to, but not always reliable when it comes to selling.”
“But he said at least ten thousand dollars! Just imagine, Harold, ten thousand dollars for a coin that’s been gathering dust in a box for years!”
Bernard sighs. “Listen carefully, Harold. The value of a coin does not only depend on an online appraisal. It depends on what someone is willing to pay for it – on the real market, I mean.”
A brief silence. Then an embarrassed clearing of the throat. “So what do you think I could get for it, Bernard?”
Bernard grins. “Why don’t you just bring her over tomorrow, Harold? We’ll take a look at it and give you a realistic price. No guarantee of ten thousand dollars, but maybe enough for a few nice meals… or even a giant chocolate coin if the craving is still there.”
“Well, okay, you’re right,” says Harold on the other end. “See you tomorrow then, Bernard!”
When Bernard hangs up, he smiles. Harold may be a little gullible, but at least he is willing to learn. Because a little bit of expertise is worth more than an estimate from the Internet.
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Don’t be fooled by online stories!
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