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 Replies: 11 / Views: 1,123 |
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Valued Member
United States
83 Posts |
When I was 12 (1967), I had a paper route and got interested in coin collecting. At that time, I would get lots of coins from the early 1900's to pay for the paper. Flash forward to my late 30's and early 40's and I got more serious about coin collecting and put together a Peace and Morgan and Washing ton Quarter collection. Flash forward to today and I am 70 and probably wont have many more flash forwards ahead of me. So I am documented the value of my collection for the benefit of my wife and/or children. Here is what I am starting to think, using my Peace dollar NGC graded collection as the example. If I look at the most recent grey sheet, the value of my collection is $17,700 for all 24 coins. It appears to me coins being sold on ebay are around 40 percent higher than grey sheet but here sellers are also trying to include the money ebay will keep. I look at the grey sheet 'CPG' price and it seems like that price and NGC pricing is around 20 percent higher than grey sheet. I 'think' the latter two prices are what dealers hope to sell a coin for which includes dealer's cost for expense and profit. I am therefore concluding a fair price for my wife to sell my coins would be in the neighborhood of 10-15 percent more than grey sheet - which would give the dealer a 5-10 percent profit , that they may make more on ebay if she has the luxury of time and as a corollary, it's probably foolish to buy a coin on ebay because of the cost structure than many are trying to recoup. Does this make sense or am I daft? |
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Pillar of the Community
United States
7273 Posts |
Dealers will pay Grey Sheet. You want higher you can sell it via an Auction and sometimes all you get is grey sheet. I value all my coins at grey sheet and hope for better, but Grey Sheet is what I use for values. ebay has an inherent cost structure, so many times items are priced higher on ebay. If looking for a graded coin, I generally buy outside of ebay. You can get the same coin if a dealer has a standalone website for much cheaper. Look at numismy.com, coins will sell for 8-15% less than ebay (and in many cases its the same coin) Edited by hfjacinto
09/15/2025 11:03 am
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Valued Member
 United States
83 Posts |
yes, that makes sense to avoid the ebay commissions if possible and then you end up, (my rough estimate) at 20 percent over grey sheet. That's a pretty large profit margin for a dealer. Thanks for the reply and link |
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Pillar of the Community
United States
7273 Posts |
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if possible and then you end up, (my rough estimate) at 20 percent over grey sheet. That's a pretty large profit margin for a dealer. Its really not, you have overhead, rent, salaries, and then you have the coins you can't sell. A good example are the 1922 and 1923 Peace dollars, unless in very high grade there are thousands available, you might get below grey sheet for those. Dealers want stuff that moves fast, if it doesn't move fast, it can be purchased below grey sheet. A good example was 2023 Morgan dollars. The dealers were offering $45 as no one was buying. All were wholesaled for $47. Considering the dealer had to ship them to the wholesaler there was no value if buying them at greysheet. |
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Valued Member
United States
83 Posts |
Good point and one I didn't consider. So coins that dealers don't really want, they may pay grey sheet (or even below), but the more desirable coins, they should be willing to pay over grey sheet ?
So consider a Morgan 1893-S . This is a desirable coin, yes?. Does the desirability vary by grade? Is an AU as desirable as a VG? If we asked a 100 coin dealers would they rather own a F12 (4550) or an AU 50(25000). Any guess?
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Pillar of the Community
United States
7273 Posts |
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they may pay grey sheet (or even below), but the more desirable coins, they should be willing to pay over grey sheet ? The answer is it depends. My local dealer once contacted me as they got in a proof V nickel, he knew I wanted one and I agreed to pay over grey sheet. So he may have paid more than usual as he knew I was interested. But he would also be smart to not over pay as there was no guarantee I would buy the coin. Quote:
So consider a Morgan 1893-S . This is a desirable coin, yes?. Does the desirability vary by grade? Is an AU as desirable as a VG? If we asked a 100 coin dealers would they rather own a F12 (4550) or an AU 50(25000). Any guess? An 1893-S is a very desiberal coin, but then you have the price. VERY few collectors will buy an AU 50/MS60+ coin as the cost is high, so a dealer will probably low ball you and send the coin to auction. An F12 maybe a much easier sell. But being honest, these coins are not as rare as they seem. My dealer has a whole roll of 1893 and 1895 Morgan's sadly all are details, but they do exist. Desirability and selling it are 2 different items, a dealer would rather sell a lot than tie up $$$$$ in 1 coin. So they might give you more for example for a 1914 D or 1909 S VDB cent as they can sell quickly. |
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Pillar of the Community
United States
7273 Posts |
Here is an example, you said you have a high grade Peace dollar set, I have a Peace dollar set also. I completed this set before Peace dollars became desirable.    I paid $18 a coin for the majority of coins, the 1921 was $175 and the 1928 was $200. Now Peace dollars are more collectible, you would be hard pressed to do this set for under $2000 |
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Pillar of the Community
United States
3619 Posts |
Quote:Its really not, you have overhead, rent, salaries, and then you have the coins you can't sell. A good example are the 1922 and 1923 Peace dollars, unless in very high grade there are thousands available, you might get below grey sheet for those. Dealers want stuff that moves fast, if it doesn't move fast, it can be purchased below grey sheet. This.It is this carrying cost and time value of money wedge that those of us who have been buyer's agents leverage to snag want-list coins for our clients. That ability to connect wants and excess investment/inventory is our thin profit margin. |
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Valued Member
United States
83 Posts |
As a private collector / non-dealer, if the consensus is I can only get grey sheet for my coins when it's time to sell, but on average I am paying retail, which I estimate is 20 percent spread, then it seems that coin investing is a terrible idea unless you are a dealer or broker. Fortunately, I bought my coins for the enjoyment and challenge and not as my nest egg
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Pillar of the Community
United States
7273 Posts |
Quote:
As a private collector / non-dealer, if the consensus is I can only get grey sheet for my coins when it's time to sell, but on average I am paying retail, which I estimate is 20 percent spread, then it seems that coin investing is a terrible idea unless you are a dealer or broker. Fortunately, I bought my coins for the enjoyment and challenge and not as my nest egg Well... Coins are not investments. But they do sometimes hold or increase their value. Like I posted above, I purchased Peace dollars before they became popular, so I can sell for a profit, as with any collectible, the value is dependant on demand. |
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Moderator
 United States
187446 Posts |
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Fortunately, I bought my coins for the enjoyment and challenge and not as my nest egg  |
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Pillar of the Community
Canada
5391 Posts |
You bought the coins for the right reasons.
You will generally get ten to 15 back of sheet from a reputable dealer.
As long as the coins are in the grade .
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Replies: 11 / Views: 1,123 |
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Posted 09/15/2025 10:45 am
