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 Replies: 19 / Views: 3,914 |
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New Member
United States
20 Posts |
Hi -- I just got my first Grey Sheet. I am wondering how close these prices should be adhered too for buying low grade coins online? For example... The store I buy from (and really like!) online has the 1914 Barber quarter, Good, for $6. The Grey Sheets say $4.25. But if I look on E-Bay I don't see anyone selling (Buy Now prices) for that low either? Now it may seem trivial $4.25 vs. $6 but that is >40% difference and over time buying these inexpensive coins to fill holes would add up. What would you pay for a (Good) 1914 Barber quarter? Thank you :) Edited by drain
08/17/2010 2:05 pm
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Pillar of the Community
United States
615 Posts |
I may be nitpicking here, but to me, the greysheet is an indicator for dealer, or wholesale values. Possibly the reason for not finding prices that low is that the prices on ebay (the general public) aren't supposed to be that low. My $0.02 |
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Bedrock of the Community
United States
20753 Posts |
Not to long ago I came into a Liberty Head Quarter Dansco Album so just had to try to fill it with duplicates. Didn't realize that the last page is full of blanks spaces unlike my Whitman's that make the Albums so the coins you need are what you need.
So I started looking through my flea market dealers for fillers in G-4 approximately and filled those 22 empty places with them. All were about $4 to $5 and the 14 and 14D were among them.
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New Member
 United States
20 Posts |
Quote:
...the greysheet is an indicator for dealer, or wholesale values.... Ahhh... OK now I understand... the Grey Sheets are wholesale (what a dealer would buy a coin for)... I had mistakenly assumed they were a list of prices for retail buyers. So that said what would be considered a fair mark up for me to pay over the Grey Sheet price as a collector buying inexpensive coins: -from an online dealer? -from a dealer at a show? Thank you! p.s. please don't take this as someone trying to scrape every cent out. I know the dealer is working hard, traveling to shows, keeping a website and inventory, etc. and deserves to make a profit. It's really about just learning for me and learning about pricing and grading seems to be the way to go! |
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Valued Member
United States
397 Posts |
I have a question along these lines as well. Is there anything similar to the Greysheet for World coins? Other than the Krause book that masquerades as a phone book.
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New Member
United States
20 Posts |
Edited by drain
08/17/2010 2:54 pm
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Pillar of the Community
United States
615 Posts |
Just so you know as well, that is my opinion, I am in no way, shape, or form an expert myself. I have spent tons of time around dealers (my father being one for years), and that is just what I noticed. Whether that holds true today - I cannot be 100% certain.
Edited by HippieOutcast
08/17/2010 2:47 pm
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Pillar of the Community
United States
3294 Posts |
You could always ask the dealer if he would take $4.25, maybe if you were buying several of them, he would give you a discount.
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Pillar of the Community
United States
528 Posts |
When you look fro pricing in grey sheets you find a bid price. Bid is what a dealer might buy it for or maybe even a little bit back. You should always expect to pay more than bid for a coin. If you can get them at bid or below then you might have yourself a deal. But yes $6 for a coin with a $4.25 bid is normal.
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Bedrock of the Community
United States
17884 Posts |
Quote:
Is there anything similar to the Greysheet for World coins? Other than the Krause book that masquerades as a phone book. No. If there were it would be like a monthly summary greysheet for each country. And since there are some 300 or so countries imagine a stack of some 300 or so monthly summaries and what have you got? A phonebook. |
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Bedrock of the Community
United States
10982 Posts |
Quote:
Do you think this is a pretty good guide to what collectors should pay retail?
Numismedia is a very good "free" retail price guide. Of course, no price guide is perfect but for dealer's retail asking prices, Numismedia is pretty good. I often use a combination of Greysheet, completed auction listings, and sources like Numismedia when evaluating prices. |
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Pillar of the Community
United States
2602 Posts |
Most dealers I think buy at 75-90% of grey sheet bid, unless the item is hot or a major key that moves well, then they may be at grey sheet bid. I picked this up by working with multiple dealers at a coin show and I tried to sell one coin just to see what offers I would get. Nothing was close to grey sheet bid and it was a major key date Morgan (1894).
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Pillar of the Community
United States
1534 Posts |
Quote:
...the greysheet is an indicator for dealer, or wholesale values.... Incorrect, the Ask value is about what you should be able to buy a coin from a dealer for. Again, learn your series and get a general feel for the right value. That is the best price guide, and I have been able to snag many nice coins for below Ask and sometimes below Bid. |
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Valued Member
United States
103 Posts |
depending on the dealer and the coin, you can add 10 to 20 percent onto bid to get retail.
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Pillar of the Community
 United States
2448 Posts |
It's a markey economy. Make an offer and see what the market will bear. If you don't like what you hear, walk away. There will always be more dealers or club members to whom to make an offer.
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Valued Member
United States
258 Posts |
Speaking as a dealer on this subject I can say with absolute certainty that grey sheet is like any other price guide. IT IS ONLY A GUIDE!
As a dealer I have paid below greysheet, at greysheet and WAY ABOVE greysheet depending on what it is and how badly I want it in my inventory. Greysheet is not about buying "single" coins but is instead about buying coins in bulk. Single coin buying and selling is a retail thing, not a wholesale thing.
As many of you have read before I consider greysheet to be way underpriced in several areas. Not that I am complaining mind you, I LOVE buying rare coins for far below what the wholesale price should be all because some dealers trust a piece of paper to determine an items value rather than years of experience in the business. Buy at wholesale, sell at retail but remember this well, the value of an item is determined at the time of sale between a knowledgeable buyer and a knowledgeable seller. EVERYTHING else is just an opinion..... Sincerely, John Leckrone
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Replies: 19 / Views: 3,914 |
Posted 08/17/2010 2:13 pm
