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I Have A "Greysheet" Question . Or Maybe More

 
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Author Previous TopicReplies: 5 / Views: 306Next Topic  
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 Posted 04/20/2021  11:13 am Show Profile   Bookmark this topic Add KauaiHawaiiGuy to your friends list Get a Link to this Message
I have never seen a "Greysheet" except for some blurry images on line, but understand that it is considered the official wholesale price guide. So here are a few questions I hope some of you might answer for me and perhaps others that might be curious.

1.) Are the prices for coins only for graded coins or are there separate prices for TPG and raw, or are they all the same?

2.) Since they are "official wholesale greysheet" prices, are they cast in stone, prices that dealers must pay one another or are they no different than retail price guides i.e., PCGS, NGC, CPG etc. that are only general guides with prices actually paid sometimes 25% below listed prices?

3.) Is it possible as a collector to buy at or near greysheet wholesale prices anywhere or are those prices all closely held and guarded by dealers and coin shops keeping the public always negotiating somewhere around retail?
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 Posted 04/20/2021  11:47 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I don't have a subscription so I've only looked at the Grey Sheet my dealer has on hand. So I'm not 100% on the answers, so these are my best guess.


Quote:
1.) Are the prices for coins only for graded coins or are there separate prices for TPG and raw, or are they all the same?


Prices are for Grade, year, mint mark. There is no difference in pricing for slabbed or not slabbed. Although with slabs it becomes more its AU 50 because that's what a slab says. With raw, its this is AU 50, me as a seller I say its AU58, you meet in the middle at AU53. Since dealers know this, they (probably) say its XF 45 and you say AU55, so you both settle at AU 50. Although I have seen CAC sticker column (so CAC adds to the price)


Quote:
2.) Since they are "official wholesale greysheet" prices, are they cast in stone, prices that dealers must pay one another or are they no different than retail price guides i.e., PCGS, NGC, CPG etc. that are only general guides with prices actually paid sometimes 25% below listed prices?


NOTHING IS SET IN STONE. You buy at what you feel is a good price. For example a 1922 Peace dollar in MS63 I think has a greysheet of $27. If you have 15 MS 63 Peace dollars you may offer $22, or if you have none and there is some one looking for one, you may offer $30.

Grey sheet is a starting point and for many deals its a fair price.


Quote:
3.) Is it possible as a collector to buy at or near greysheet wholesale prices anywhere or are those prices all closely held and guarded by dealers and coin shops keeping the public always negotiating somewhere around retail?


I've purchased below, above and at Greysheet. Greysheet is a point in time, if you purchased that coins 5 years ago and had no bites and I come in and am interested, we might be able to negotiate below greysheet. Remember that MS63 Peace, a few years ago it was probably at $20, so selling it at $27 you might not lose anything..

Again take the above as mostly my opinion based on the 2 local dealers I generally buy from. Usually on eBay they price using the NGC/PCGS price guide which is higher than retail.

Edited by hfjacinto
04/20/2021 11:49 am
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 Posted 04/20/2021  12:46 pm  Show Profile   Bookmark this reply Add KauaiHawaiiGuy to your friends list Get a Link to this Reply

Quote:
I don't have a subscription so I've only looked at the Grey Sheet my dealer has on hand. So I'm not 100% on the answers, so these are my best guess.


Thanks hfjacinto. For best guess answers, they were pretty good answers and appreciated.

Somebody once told me that you can just buy a single issue of the "Greysheet". Since prices tend to change slowly, (except coins containing gold and silver right now), I think it would be helpful to buy one issue a year. Even if I can't generally buy at those prices, it would give me an insight as to how shops and dealers look at coins and and the markups they place on them over what they buy them for from each other.
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 Posted 04/20/2021  1:01 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Thanks @KauaiHawaiiGuy,

One thing I forgot to mention is that there is very little selling to dealers, since most shows are stopped, that means that Greysheet maybe a little low to buy items for your inventory. So some dealers may pay a little more. Locally there is not a lot at the dealers, a few empty cases, so I'm not getting the prices I was before as a buyer. And stuff is selling really quickly. I have to put stuff on hold otherwise it sells before I get there, hence I'm paying more than I was before.

In early 2020 I could get AU common date Morgans/Peace for $17-$19, that ship has long sailed.
Edited by hfjacinto
04/20/2021 1:02 pm
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 Posted 04/20/2021  1:07 pm  Show Profile   Bookmark this reply Add jpbone to your friends list Get a Link to this Reply
Grey sheet is just a guide. There is no stipulation as to what something is worth other than what someone is willing to pay. I've paid above below and at grey sheet. Negotiation is always at play. There are no rules.
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 Posted 04/20/2021  2:03 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Grey sheet is just another price guide , a very useful price guide . But to me prices are subjected like grading is . You offer a dealer a fair price that you are comfortable paying for a certain coin ; He'll either say ok or he'll say sorry can't do that . But this is what I've found going to a lot of local shows as a collector buying coins , 8 times out of 10 ( a coin show dealer ) will accept your fair offer . Just don't be ridiculous about it and offer $50 for a $200 coin .
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