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 Replies: 25 / Views: 9,156 |
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Pillar of the Community
United States
1450 Posts |
For an average collector is it worth it to get a script for the Gray Sheet? I am not a dealer so is there a use for the Gray Sheet for me the monthly buyer of coins.
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Bedrock of the Community
13014 Posts |
Unlikely. It's a hefty price if you're never selling anything and there's plenty of free real world results online
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Pillar of the Community
United States
887 Posts |
Not to mention if you're not a dealer, and trying to buy coins, it seems (to me at least) getting them at bid is nearly impossible. So knowing bid price, from a collector's/buyer's standpoint is useless in my opinion. As an example, my LCS gave me a copy of the gray sheet page for Washington quarters. It says I should pay about $45 for an AU58 1938, but I can't find one anywhere near that price. |
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Pillar of the Community
United States
7618 Posts |
When they jacked up the price like they did they lost me!
Unless you are in a day-to-day buying and selling coin business you can get along just fine without a Greysheet.
The internet is your friend!
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Pillar of the Community
United States
1963 Posts |
Not worth it for the average collector. But for anyone who buys and sells more than $2000 worth of coins, it is worth it.
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Valued Member
United States
309 Posts |
I too cancelled my subscription when the new ownership increased prices substantially. I am fortunate that my LCS lets me have previous week's Greysheets and previous Monthly and Quarterly Supplements. As far as pricing is concerned, I have heard many LCS and dealers complain about having to sell at bid as buyers/collectors increasingly come with Greysheet pricing info in hand. Coin market is becoming commoditized and it's driving prices down and thinning margins. Even ebay prices realized for certified coins are becoming much more common at Greysheet bid. Most LCS and dealers are upset with the layout of the new Greysheet and Supplements. |
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Pillar of the Community
 United States
4591 Posts |
If you buy at coin shows frequently...
If you are interested in frequently trading & changing denominations (e.g. Morgans), it might be worth it occasionally to keep up with pricing trends.
If you are interested in infrequently changing values for obscure denominations, you might want to buy the occasional single issue, maybe once a year or so.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Bedrock of the Community
13014 Posts |
Quote:
As far as pricing is concerned, I have heard many LCS and dealers complain about having to sell at bid as buyers/collectors increasingly come with Greysheet pricing info in hand. Letting collectors have access to the Greysheet was one of the great mistake decisions. It always baffles me that people think they should be able to buy for wholesale prices |
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Pillar of the Community
 United States
1450 Posts |
The only good thing is that it might be like having a car's actual inventory price so you can bargain from the bottom up. Of course dealers will not sell at a loss. I often wonder where my LCS actually makes its money. I don't believe they make it with collector coins. They either do it with rare coins or bullion. When I go to my LCS I don't see high grade scarce coins. I see a bunch of mediocre coins usually. Sometimes he will call me with a coin because he knows I am looking for that coin.
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Pillar of the Community
United States
3479 Posts |
Heritage already provides the grey sheet value for many of the coins they auction off. I've looked into getting a subscription but it just isn't worth it. Besides looking at previous auction sales for coins is far more accurate than a monthly publication that is in large part based off of auction results.
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Bedrock of the Community
United States
12057 Posts |
I finally let my subscription lapse this year in July for the first time in quite awhile simply because the advent of the Internet and easily-searchable auction results, and much more affordable guides for commonly-traded series, such as the Numismedia FMV, have made Greysheet subscriptions much less useful. I can't justify paying a couple hundred bucks a year for a publication that sees prices updated infrequently and only in batches.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Valued Member
United States
309 Posts |
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Of course dealers will not sell at a loss. I often wonder where my LCS actually makes its money. I don't believe they make it with collector coins. They either do it with rare coins or bullion. Herein lies the problem. Most LCS will try to buy @ 80 to 90% of BID and sell for ASK which is usually 10% above BID - this could be a spread of 20 to 30%. Usually, the higher the grade, the higher the buy price. For example, an MS64 or below Morgan will bring 80% of BID while an MS65 or better might bring 90%. Greysheet has all but eliminated ASK pricing for most issues. This, coupled with the availability and marketing of the Greysheet to new users has forced BID price to become the ASK price, driving prices down across the board. ebay is the dagger through pricing's heart. Selling at BID less fees drives net prices lower as it continues to establish baseline prices. It is and will continue to be a problem as margins are compressed. Silver bullion is often purchased at spot minus .50 and sold at spot plus $1.50 to $2.00 depending on the issue or the relationship with the customer. This constant buy/sell process yields a decent percentage return which is actually larger at a lower spot price. Gold is sold in much the same manner, but the spreads/premiums are greater. 1 oz might be at 5% above spot, 1/2 oz might be @ plus 8%, 1/4 oz @ +11% and 1/10 oz @ 15-18%. Most common gold (bars and bullion) is bought below spot as melt values are sometimes less than spot. US and other Gov't gold coinage are bought at spot price if they are in BU condition. Modern gold Gov't issues are worth spot to most dealers. Classic Gold is usually at less than BID with the % based on the issue. LCS will make little to no money on supplies as they simply cannot sell enough of them. On-line vendors have certainly monetized these items as well. Let's not even touch upon Mint and Proof Sets. |
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Rest in Peace
United States
17900 Posts |
I can find accurate reliable prices, including Gray Sheet, plus every other price list all for free on Heritage. I can see what everyone lists at compared one to another in one place for zero cost.
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Valued Member
United States
338 Posts |
I subscribed to the weekly sheet which arrived on Saturdays. So I could use it for the Sunday coin shows. Then it started arriving in my mailbox on Mondays so I didn't renew.
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CCF Advertiser
United States
1533 Posts |
I think a collector could get all the sheets once a year and be fine. I do have a scrip, but I get that its probably too much for someone that doesn't do shows.
I disagree with the comment that collectors should not have access to this. If the only competitive edge you have is access to published information, then you do not have much of a business. Lots of dealers are feeling the margin compression simply because they never really had anything to offer a retail client to begin with.
Edited by Andrew99
08/14/2017 1:22 pm
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Moderator
 United States
188213 Posts |
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It's a hefty price if you're never selling anything and there's plenty of free real world results online Agreed. I am satisfied using NumisMedia and ebay completed sales. |
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Replies: 25 / Views: 9,156 |
Posted 08/13/2017 3:28 pm
