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New Member
 United States
20 Posts |
Edited by drain
08/17/2010 2:54 pm
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Pillar of the Community
United States
615 Posts |
Just so you know as well, that is my opinion, I am in no way, shape, or form an expert myself. I have spent tons of time around dealers (my father being one for years), and that is just what I noticed. Whether that holds true today - I cannot be 100% certain.
Edited by HippieOutcast
08/17/2010 2:47 pm
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Pillar of the Community
United States
3294 Posts |
You could always ask the dealer if he would take $4.25, maybe if you were buying several of them, he would give you a discount.
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Pillar of the Community
United States
528 Posts |
When you look fro pricing in grey sheets you find a bid price. Bid is what a dealer might buy it for or maybe even a little bit back. You should always expect to pay more than bid for a coin. If you can get them at bid or below then you might have yourself a deal. But yes $6 for a coin with a $4.25 bid is normal.
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Bedrock of the Community
United States
17884 Posts |
Quote:
Is there anything similar to the Greysheet for World coins? Other than the Krause book that masquerades as a phone book. No. If there were it would be like a monthly summary greysheet for each country. And since there are some 300 or so countries imagine a stack of some 300 or so monthly summaries and what have you got? A phonebook. |
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Bedrock of the Community
United States
10982 Posts |
Quote:
Do you think this is a pretty good guide to what collectors should pay retail?
Numismedia is a very good "free" retail price guide. Of course, no price guide is perfect but for dealer's retail asking prices, Numismedia is pretty good. I often use a combination of Greysheet, completed auction listings, and sources like Numismedia when evaluating prices. |
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Pillar of the Community
United States
2602 Posts |
Most dealers I think buy at 75-90% of grey sheet bid, unless the item is hot or a major key that moves well, then they may be at grey sheet bid. I picked this up by working with multiple dealers at a coin show and I tried to sell one coin just to see what offers I would get. Nothing was close to grey sheet bid and it was a major key date Morgan (1894).
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Pillar of the Community
United States
1534 Posts |
Quote:
...the greysheet is an indicator for dealer, or wholesale values.... Incorrect, the Ask value is about what you should be able to buy a coin from a dealer for. Again, learn your series and get a general feel for the right value. That is the best price guide, and I have been able to snag many nice coins for below Ask and sometimes below Bid. |
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Valued Member
United States
103 Posts |
depending on the dealer and the coin, you can add 10 to 20 percent onto bid to get retail.
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Pillar of the Community
 United States
2448 Posts |
It's a markey economy. Make an offer and see what the market will bear. If you don't like what you hear, walk away. There will always be more dealers or club members to whom to make an offer.
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Valued Member
United States
258 Posts |
Speaking as a dealer on this subject I can say with absolute certainty that grey sheet is like any other price guide. IT IS ONLY A GUIDE!
As a dealer I have paid below greysheet, at greysheet and WAY ABOVE greysheet depending on what it is and how badly I want it in my inventory. Greysheet is not about buying "single" coins but is instead about buying coins in bulk. Single coin buying and selling is a retail thing, not a wholesale thing.
As many of you have read before I consider greysheet to be way underpriced in several areas. Not that I am complaining mind you, I LOVE buying rare coins for far below what the wholesale price should be all because some dealers trust a piece of paper to determine an items value rather than years of experience in the business. Buy at wholesale, sell at retail but remember this well, the value of an item is determined at the time of sale between a knowledgeable buyer and a knowledgeable seller. EVERYTHING else is just an opinion..... Sincerely, John Leckrone
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Bedrock of the Community
United States
20753 Posts |
Quote:
It's a markey economy. Make an offer and see what the market will bear. If you don't like what you hear, walk away. There will always be more dealers or club members to whom to make an offer.
So true, so true. Quote:
Speaking as a dealer on this subject I can say with absolute certainty that grey sheet is like any other price guide. IT IS ONLY A GUIDE! And again so true, so true. People should realize there is no manufacturers list price on a coin as with a toaster, microwave oven, car, boat, lawn mower, etc. A coin is basically worth what it says on the coin. A Nickel is worth a $0.05 cents but anyone can sell it for a Dime or a million dollars. Just what you are willing to pay or sell it for. |
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New Member
United States
20 Posts |
I found this in CCF: Summary of Coin Pricing ReferencesThe post mentions: Greysheet "bid" is the amount that dealers are typically willing to pay other dealers for a coin. Greysheet "ask" is the price dealers typically ask other dealers for a coin, which is higher. For collectors, one rule of thumb is to add 25 to 75 percent to Greysheet bid when you're buying and to subtract 10 to 40 percent from bid when selling.
That seems logical/reasonable to me. Other opinions please! Edited by drain
08/18/2010 1:56 pm
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Pillar of the Community
United States
564 Posts |
If you want current market price for a coin look on ebay. It shows exactly what the current market is. The grey sheet is nice to see the low end. I buy bulk all the time... Like coins I don't see until after I buy them and buy them 20% under grey sheet good price. It's a gamble but I like the excitement of not knowing what you are getting. |
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Valued Member
United States
61 Posts |
Drain, with respect to grey sheet this is pretty close in our area (Michigan). I will say (as others have) once you build a relationship with a dealer you can expect to get closer to grey sheet ask. It of course depends on how the dealer obtained the coins; if they paid ask to get it for a customer, they can't charge it!
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Replies: 19 / Views: 3,932 |
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Posted 08/17/2010 2:46 pm
