Use Of The Graysheet By Dealers. - Coin Community Forum

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Author	Replies: 8 / Views: 1,329
buddy16cat Pillar of the Community United States 1536 Posts	Posted 03/02/2013 6:42 pm I recently received a sample of the CDN and have been looking through the prices and noticed the ask price on some coins are the same as the RedBook but other prices are much lower than other guide prices. How do dealers use this when buying off each other? Do they buy and sell at these prices are do they pay a percentage of the price? I know that I took a coin to a dealer at a show and they said they would buy at significantly lower than the RedBook or Graysheet ask/bid price. They paid 80% of the next lower grade price. I told them to look again at the grade. Report this Post to the Staff

basebal21 Bedrock of the Community 13014 Posts	Posted 03/02/2013 6:56 pm For buying off each other itll depend on what kind of relationship they have and the dealers. Dealers that do a lot of exchanges with each other will probably give each other better deals while if its someone random there probably wont be much wiggle room. Its hard to make sweeping generalizations when you could take a coin to 10 different dealers and get 10 different offers for it Report this Post to the Staff
BadThad Bedrock of the Community United States 19937 Posts	Posted 03/02/2013 7:09 pm The Red Book prices cannot be trusted at all. They are ballpack estimates. Dealers use Grey Sheets and usually buy from each other well below ask. Of course, all of this depends on the coin too. Lincoln Cent Lover! VERDI-CARE™ INVENTOR https://verdi.care/ Report this Post to the Staff
buddy16cat Pillar of the Community United States 1536 Posts	Posted 03/02/2013 10:37 pm Yes, I noticed for some coins, all the guides including gray sheet agree on the price. For others though they are very different. I see dealers use this when determining costs for buyers but wondering how they use it for each other. Is the ask price the retail price or do many dealers sell for a premium over this? Report this Post to the Staff
bpoc1 Rest in Peace United States 4078 Posts	Posted 03/03/2013 06:16 am Interesting questions. There was a free one time offer to get a copy of the Graysheet which I did a few years back. So do the ask/bid price change much overall? The ones I have are dated 2/2010. Edited by bpoc1 03/03/2013 11:31 am Report this Post to the Staff
3stooges Pillar of the Community United States 511 Posts	Posted 03/03/2013 4:46 pm The Grey Sheet is a general starting point. Things like modern proof sets often trade well below bid or ask, but the game changes with something like an old type coin that is PQ for the grade. Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 03/03/2013 9:32 pm The Red Book is OK for prices if you use one that is about 4 to 5 years old. I now use the 2010 for approximate prices. The Grey sheet is what a lot of dealers use but not all. Remember that there is no manufacturers suggested list price on coins. They are only realistically worth what is noted on them. After that, anything goes. A coin is really worth what someone pays for it. Report this Post to the Staff
HippieOutcast Pillar of the Community United States 615 Posts	Posted 03/03/2013 9:38 pm I think the bigger question is: What about the Craigslist people who demand you sell them coins at Blue Book prices? O_O Report this Post to the Staff
buddy16cat Pillar of the Community United States 1536 Posts	Posted 03/04/2013 04:57 am They still offer a free sample issue of the graysheet. I just got one. Wouldn't someone who wants the bluebook price want to resell the coin? Couldn't you just take it to a shop if you wanted to sell it that way? I know I just sold one coin for a BIN price but did accept offers. Even though I gave a significant discount of the guide prices that all agreed on the particular coin, someone started with offering me half of what I was asking. You can always simply decline offers like this. I held off on lower offers and sold at my ask price which was at a discount but not a heavy one and included UPS shipping. I think that it needs to be established that the buyer intends to resell the coin or keep it. Of course I have sold coins on ebay that I think are going to be resold but if they can get more for it than I can, more power to them. Edited by buddy16cat 03/04/2013 05:11 am Report this Post to the Staff
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