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Prices, Prices, Prices

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Valued Member
Wei Fun's Avatar
United States
244 Posts
 Posted 10/10/2010  9:50 pm Show Profile   Bookmark this topic Add Wei Fun to your friends list Get a Link to this Message Number of Subscribers
There are at least 4 sources of pricing information of which I'm aware (redbook, greysheet, numismedia, pcgs), and I'm sure plenty more of which I'm not.

When it comes to either a) retail (bricks and mortar store) sales, or b) show sales, which appears to be the most used for prices that dealers are asking (which I understand isn't necessarily the prices the coins actually sell for)?

I'm not asking which you believe is most *fair*, just most prevalent or most accurate as a reflection of the retail market?
Pillar of the Community
wheatguy's Avatar
United States
1534 Posts
 Posted 10/10/2010  9:54 pm  Show Profile   Bookmark this reply Add wheatguy to your friends list Get a Link to this Reply
Greysheet.

Valued Member
andrewjconners's Avatar
United States
497 Posts
 Posted 10/10/2010  9:55 pm  Show Profile   Bookmark this reply Add andrewjconners to your friends list Get a Link to this Reply
Well I know when I buy from a local dealer he has a newspaper type of paper. I belive its a grey sheet but I'm unsure. Also CDN publishes prices on wholesales. Hope that helps!
Bedrock of the Community
United States
20753 Posts
 Posted 10/11/2010  12:25 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Coin prices lately are all over the place. Not many really go by any price guides anymore. A coin store must always factor in a profit enough to cover store expenses and enough to cover family necessities. They will ask for a lot more than any price guide usually.
Coin shows as a rule are just coin and currency related flea markets. Dealers all know that average customer will always ask for a reduced price for anything they have. So the average dealer looks up the price in the grey sheet, adds on about 10 to 25% for their prices. now for most customers they start right out with I'll give you 10% off since 'I like you", "the sky is clear", "you look like a steady customer", "I need a sale". etc. This starts the usually haggling where the customer says still a little high. Then the price is lowered by about 15 to 20% and the customer buys the coin for the grey sheet sheet price anyway.
Going to coin shows all the time I've only seen a few Red Books being carried by customers, never saw a dealer use one. At one larger show there is a table in front with free copies of the Numismedia Magazine and yet no one used it at the show for prices.
Last Sunday at a coin show one dealer lowered all his prices I asked about by 25% and all because I was a steady customer. I never even remember seeing him before. I checked later and found that even with that massive discount his prices exceeded the Red Book.
In the FAR past coin shows were always the one place where it would be impossible to beat for prices. That is still basically true but now you really have to know what a coin is really worth or end up paying almost as much as ebay.
What is fun is to take a coin with and pretend to want to sell it. Fantastic difference in what you'll be offered to what they sell one for.
There really is no such thing as a real coin price list. They are all just GUIDES.
Pillar of the Community
3660 Posts
 Posted 10/11/2010  12:36 pm  Show Profile   Bookmark this reply Add zeewool to your friends list Get a Link to this Reply
So much truth and sense spoken in such a small paragraph Carl.....Very impressive.

The only thing I find wrong with all of that is that you spelled 'garbage' wrong.


Quote:
They are all just GUIDES.
Valued Member
remmy1100's Avatar
United States
380 Posts
 Posted 10/11/2010  12:41 pm  Show Profile   Bookmark this reply Add remmy1100 to your friends list Get a Link to this Reply
DOH!
New Member
huntercav's Avatar
United States
44 Posts
 Posted 10/17/2010  7:25 pm  Show Profile   Bookmark this reply Add huntercav to your friends list Get a Link to this Reply
Interesting observation regarding selling a coin at a show Carl. I was at Boston ANA this year with a coin I was truly shopping around. I got wildly different offers from people...and I mean comically wide spreads in offers.

Every dealer referred to something to check prices. In some ways I think it depended on the dealers age. The older dealers looked as though they were referring to the hard copy grey sheets while some younger dealers were going to Heritage auction archives or other online sources. Some also called colleagues and asked to talk and told me to come back in a few minutes. It was really a crap shoot.

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okiepb's Avatar
United States
1213 Posts
 Posted 10/17/2010  7:41 pm  Show Profile   Bookmark this reply Add okiepb to your friends list Get a Link to this Reply
Carl is right - they are all guides. The key is knowing what you're doing and using them as a reference.
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specksynder's Avatar
United States
1080 Posts
 Posted 10/17/2010  7:57 pm  Show Profile   Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
the dealers I work with use grey sheet as their starting place, then they play with their calculator for a little bit and come up with a price.

For example, when I was selling mint sets, they offered a firm 80% of bid (which was fine since the guy across town was a firm 75% of bid).
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