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 Replies: 17 / Views: 4,451 |
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Valued Member
United States
327 Posts |
I am actively buying and wonder if the graysheet is a worthwhile investment. I read Coinage and Coins each month and have just used their prices as a guide to what I should be paying retail. Thoughts?
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Valued Member
United States
487 Posts |
Just got back from the coin show and saw a lot of dealers had the Greysheet close at hand when it comes to pricing. But it can't help to have more than one source like the Red Book for a high retail price and maybe one other source like Numismedia Online FMV Price guide. I was turned on to Numismedia by the users of this forum and I find it quite helpful. |
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Pillar of the Community
United States
781 Posts |
I think when most of the coin magazines list prices, they usually state when those values were gathered. I know CoinAge does that. That's something to keep in mind when using a mag to compare pricing. Those magazine figures will not be current for your week or even month.
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Valued Member
 United States
327 Posts |
So, FMV. I saw the Numismedia site. Just wondering what fair market value means to the collector?
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Pillar of the Community
United States
763 Posts |
I tend to think that the magazine and Red Book prices are a bit too high, but I know some coin shops will charge even more. I know that I've seen dealers at coin shows use the grey sheet to determine prices. I use the grey sheet to help determine my maximum bid on ebay. |
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Valued Member
United States
265 Posts |
If you know specifically what you are looking for, I find teletrade and heritage auction sites really helpful. It takes nothing to register. Once you are registered you can check the price guide or the price realized and put in what you are looking for. It may give you a better idea or ballpark figure of what the buyer today is willing to pay.
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Pillar of the Community
United States
763 Posts |
In addition to dom's suggestion, you can also check out the completed auction on ebay to see the going rate for specific coins. |
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Pillar of the Community
United States
1534 Posts |
Greysheet is the most accurate. The Red Book and magazine price are grossly overpriced in most instances. Numismedia is somewhere in the middle of the two. Like others mentioned, completed search results on ebay and other sites are also a good reference. The best guide though is using what you know and what you want to pay as a guide. Quote:
Those magazine figures will not be current for your week or even month. That isn't true, since only very rare and bullion related coins change values in a week or month. Normal coins generally stay stable in price. |
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Bedrock of the Community
United States
19930 Posts |
Grey Sheets, it's what the dealers use and it's the defacto standard.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
2600 Posts |
Ditto. They have made it very convenient, too. You can download any one of their periodicals for the given period for 3.99, I believe. So, you can pick the type coin you want to review and buy only that portion.
Jim
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Valued Member
United States
58 Posts |
Graysheet is simply what dealers pay other dealers for coins. They are the wholesale prices. They are also the prices that the dealer pays YOU for your coins. In my opinion, I think the Coin Market price guide that comes out of Numismatic News is the most accurate retail guide. The Red Book and Coin Values are SOOOOO overpriced. If I am curious what a price a coin should draw, I simply look at what the previous coins have sold for on ebay. |
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Pillar of the Community
United States
797 Posts |
I agree on greysheets being the closest to prices I see at shops. At the most recent coin show almost every dealer would pull out a grey sheet to figure a price (keep in mind that they didn't just quote the price exactly, but they used it to figure it for themselves, some went a little over but most were very close to greysheets).
Speaking of greysheets, I got a free trial copy a few months ago and I don't buy coins often enough to warrant a subscription, so is there a way to buy them individually once or twice a year or so? I don't need the most up-to-the-minute prices, but I also don't want to use the same one for too long and base things off inaccurate info.
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Valued Member
United States
258 Posts |
All of the above. A lot of factors to consider when buying or selling. At the Nashville Whitman coin show this weekend the greysheet was regularly referenced by both buyers and sellers. My friend did a lot of business using the grey sheet. At the same time you cannot buy and sell for no profit so buying at grey sheet and then selling at the same price does not work. There is usually a market for coins between 10-15% below AND above greysheet. Common stuff usually is lower. Rare higher quality items are usually higher. I use a balance of greysheet, RedBook, CoinWorld, ebay and mintages to determine how I price my coins. If you price your coins too low you will run out of inventory. If you price them too high you will not sell. If you price them reasonably using a balanced approach you will do fine both when you buy AND when you sell. Remember what I continue to preach, BUY QUALITY, NOT QUANTITY AND RARE RATHER THAN COMMON. Sincerely, John Leckrone |
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Moderator
 United States
16677 Posts |
I generally use a combination of greysheet/Numismedia when selling. When I go to shows, I use greysheet exclusively.
swcoin.ecrater.com
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Bedrock of the Community
United States
12437 Posts |
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Valued Member
United States
207 Posts |
the greysheet to me is a nice way to see the bottom line of a coins pricing but you will sometimes pay a lot more than the greysheet value. This depends on the coins rarity in the market. In my opinion it is worth having the greysheet so you do not go into a transaction blind with only Coin World pricing. It seems like everyone has a greysheet at coin shows now. The last one I went too I saw it in a lot of buyers hands. |
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Replies: 17 / Views: 4,451 |
Posted 05/23/2010 5:23 pm
