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 Replies: 25 / Views: 9,182 |
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Pillar of the Community
United States
4989 Posts |
One important thing to remember about Gray Sheet is that it is wholesale dealer to dealer cost. A LCS is unlikely to sell you a coin at the ask or buy it from you at bid unless you can demonstrate you are another dealer.
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Valued Member
United States
309 Posts |
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One important thing to remember about Gray Sheet is that it is wholesale dealer to dealer cost. A LCS is unlikely to sell you a coin at the ask or buy it from you at bid unless you can demonstrate you are another dealer. This is what it is supposed to represent - in a perfect world. But I have personally seen many transactions at LCS and coin shows for BID price. These are certainly not dealer to dealer transactions. A buyer with a Greysheet in hand is quite common. |
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Bedrock of the Community
13014 Posts |
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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 Nothing to do with dealer margins rather the fact that to many people expect to be able to buy for wholesale dealer to dealer price when buying a single retail coin. If that becomes the norm dealers just lower their buy prices which almost all have and then get accused of giving low ball offers on coins which some certainly do, but if people want to buy at wholesale then they need to be prepared to sell far under it. My point was really that I feel that it has done more harm than good for the market and often times can be a buyers worst enemy as they will miss out on the best quality coins if the sheet is where they expect things to be priced |
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Valued Member
United States
309 Posts |
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Nothing to do with dealer margins rather the fact that to many people expect to be able to buy for wholesale dealer to dealer price when buying a single retail coin. If that becomes the norm dealers just lower their buy prices which almost all have and then get accused of giving low ball offers on coins which some certainly do, but if people want to buy at wholesale then they need to be prepared to sell far under it. My point was really that I feel that it has done more harm than good for the market and often times can be a buyers worst enemy as they will miss out on the best quality coins if the sheet is where they expect things to be priced. Exactly my point. Can't have your cake and eat it too. It has driven prices down and has caused many sellers to hold onto better dates and grades rather than let them go at deflated prices. I utilize the Greysheet for a number of reasons. Chief among them is to ensure that I am paying a "fair" price and not getting gouged. And yes, this does include the seller's mark-up or spread. While I am very happy as a buyer to now be able to purchase a coin at BID when offered, I also understand what this trend is doing to the seller side. Having been used to purchasing at or around ASK price for years, it was very noticeable when prices started trending lower. The fact that it occurred while the Greysheet was expanding its subscription base AND reformatting their issues to exclude ASK prices may just be coincidence and anecdotal. But it has occurred. Question: What happens when the Blue Sheet becomes common place? |
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Valued Member
United States
309 Posts |
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...but if people want to buy at wholesale then they need to be prepared to sell far under it. Unfortunately, people want to Buy at Greysheet BID and Sell at Red Book prices. Would that it were... |
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Valued Member
240 Posts |
I didn't renew after they increased the price. You can find all the pricing information you need on the internet anyway.
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Pillar of the Community
United States
3210 Posts |
My coin partner has a subscription cause he is a show dealer in the Northeast. Sometimes he will make me a copy or two of pages I need (Like the gold and silver dollars), since I specialize in Morgan and Peace dollars. I also sometimes take pics of the greysheet on my phone and have them on me in the event of a last minute coin buy. Most series I have an idea on prices and pay accordingly, but there are certain rarer dates where a price guide comes in handy. *An example would be yesterday I went to a friends home she had some coins I didn't need a price guide cause it was junk silver. Whereas I had a price guide with me a few weeks ago when I bought a $10,000 collection (granted most was junk silver, but the price guide helped me with a few better date Morgan dollars and allowed me to buy at a fair price with some wiggle room for when it got graded by PCGS. Basically if your a full time dealer then a greysheet subscription is a must, but if you deal part time like me or are a regular collector, you don't need it as others have said Numismedia FMV and auction results help greatly. |
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Bedrock of the Community
United States
17884 Posts |
If you aren't buying and selling on a daily basis (more then just one or two coin) I really don't see any reason for a subscription. Coins really don't change in value that much that fast. You would probably be fine just picking up the occasional issue and you can do that by just buying and downloading the latest issue on the website.
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CCF Advertiser
United States
1533 Posts |
I get it every week. I find some value in the articles. Maybe not worth the subscription price, but there is some value there. They report on all the shows, but then so do we here.
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Bedrock of the Community
United States
20753 Posts |
Never had one, never used one, never even wanted one.
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Replies: 25 / Views: 9,182 |
First Page
Posted 08/14/2017 8:25 pm
