Value of Greysheet for the collector
rmorgan
Posts: 249 ✭✭✭✭
Last month at the FUN show I felt a bit at a disadvantage that I did not have access to a Greysheet. Sometimes dealers tell me they are pricing a coin at X% over Greysheet. I have no good way of knowing if that is true. I feel like I'd be better off having access to the Greysheet for a baseline of my expectations. So I'm wondering if it is worth subscribing.
I'd like to hear some opinions as to the value (or lack of it) for a collector to invest in Greysheet. My current buying habit is with AU (give or take a little) on raw coins typically below $100 - like early wheat leafs, Mercuries, Indian heads, etc. Will having a Greysheet help me be a better consumer at shows? If so, does it make sense to go with just online, or to get the print version as well? Is there a way to purchase just a single copy? Should I just settle for the free copies of Market Review that they give out at shows? ...Any other insights to share?
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
Comments
I’m not a huge fan of the Greysheet. It’s a rough starting point on prices, but that’s about it. That said, if I’m going to a major show, I’ll usually bring a fairly recent one with me. I find it handier than looking at my phone.
BTW, you can buy single copies. Last I checked they were $15.
Dave
https://www.greysheet.com/Publications/GreysheetMonthly
If your spending substantially more a year than the cost of printed Greysheet. than buying printed versions may save you money. I use CDN along with Numismedia for values. Most of the time, the two are in sync with values. With CDN I subtract around 40% to get wholesale values.
https://www.greysheet.com/coin-prices
Greysheet is supposedly for wholesale volume buying, so I don’t bother with it at all.
I research auction sold prices spanning at least 6 months prior to a show for real prices to establish a fair market based range for the coins I want.
Hmmmm, I bet you buy up all the dreck if you are buying coins for 60% of CDN! Of course you might also be buying from the poor widow or uninformed.
I purchased the downloaded version of greysheet last fall because it was significantly cheaper than the paper version. However, it's a bit of a pain scrolling thru the document on a phone or computer vs. flipping thru the paper version. It's a useful tool but the pricing doesn't change much from one month to the next so buying a single copy before you go to the show might be more cost effective for you.
Successful BST transactions with lordmarcovan, Moldnut, erwindoc
You can never have too much information.
As a collector, I cannot keep everything in my head so it's a good reference coupled with auction prices.
I am looking for strong coins for the grade so it's a good starting point.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
**Sometimes dealers tell me they are pricing a coin at X% over Greysheet. I have no good way of knowing if that is true. **
Oftentimes, a dealer will show it to you, and if not, you can also ask to see it - I do, since I no longer subscribe.
I will also note that at FUN the Greysheet was heavily in use.
As an example, I was selling coins to a well known dealer who was paying full Bid for what I had. In the middle of our work, another dealer who was pondering some of her inventory borrowed her 'sheet' to price a few coins, then walked off with it....she couldn't resume until she was able to track him down and regain possession of it.
Numismedia lists FMV (Fair Market Value) coin prices. Are these FMV prices considered to be bid (wholesale) or ask (retail) prices?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
What I do is to take the digital greysheet and then print to pdf different sections I use a lot. I then have those pdf on my phone. So if I want dollars, I open the dollar pdf only and I only have to page through 4 or 5 pages not 180.
Is he talking about Greysheet or CDN's retail price guide. [By the way, the difference between greysheet wholesale and CDN retail is 20% NOT 40%]
I buy and sell virtually everything based on greysheet. Most other dealers do the same for everything in the widget category.
Gottcha!
Cherry pickers do not care about grey sheets - or any other price list for that matter...
WS
I am finding the greysheet all but useless these days for the type of coins I buy! I'm elated if I can buy what I like to sell for less than GS! This is not all about Barber Halves either. I came back from Spartanburg with a lot of nice original coins. While I haven't done an average I would wager I'm in the group for more than CDN. I love buying from the live or die by the Greysheet dealers!
Again, emphasis on the "widget" category. You have to know when to go "off sheet".
Do you know any dealers who use anything but for common date Morgan $s in MS66 or lower? I don't.
On the other hand, early copper in grades above Fine are often poorly represented.
And do you really not use Greysheet for common date Barbers in lower than XF?
The CDN is a wholesale publication. Single copy price is $35. I am taking a monthly subscription at $34 for greysheet and green sheet. This is $408 a year. One could buy just the single issue Gs once a quarter or some other option. I get GS CPG free on my phone. It is a MV based on CDN. Excellent tool with auction data.
For a collector I would suggest whatever they can get for free or what fits their budget. There are many options for the CDN publications. As far as currency I go by MV based on Krause (for sell). Then may discount depending on room. CW and NN both have coin values and are good publications for collectors to subscribe to.
Yes! Nice original F + Better Barbers I have my own PG!
How many here think you can buy a coin like this anywhere near CDN bid?
For the coins you are talking about, below $100 raw, I think a single paper copy of they Greysheet is a smart investment. Maybe get a new one every year or so. I have one and use it, though more for online buying than coin shows.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Again, that is NOT a widget.
CPG MV (based on CDN bid) on the 93-s F15 is $4620. It’s last 2 auc appearances this year realized 3240 and 3600.
As far as what someone would offer off the bourse just shop it around.
I bet those last 2 appearances don't hold a candle to this coin!
PS, I don't consider Nice original F+ Barber Halves to be widgets either!
Well, it's a percentage thing. I tend to get the lower percentages when selling, no matter my ask.
Anyone???
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@amwldcoin said:
People who don't bother to read the greysheet carefully enough to understand what the prices mean.
@rmorgan , we have some differences with our collecting habits but not drastically.
I get one or two printed versions per year.
I had one at FUN and felt better armed for the war.
I slice out a couple of the pages for the series that I'll be using most often and keep the rest of the issue in my backpack.
At shows, I like having those couple of pages handy for discreet reference.
Maybe it's just me but I feel uncomfortable brandishing the whole catalog in front of dealers.
I'd recommend getting a copy and then you can decide for yourself if it's useful for you.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
There is no such thing as Widgets especially nice fine Barbers (high demand coins).
LOL! You don't think a dealer doesn't know your looking at greysheet just because it's a page or 2? I can tell if someone is using a greysheet even if it's just penciled in on their want list they are carrying around!
Sometimes I'll ask a coin dealer if I can look at his Grey Sheet. I don't remember ever being refused.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@amwldcoin , I'm positive they know everyone is using the sheet.
I'm just quirky about laying it all out and going through it at the table.
I've seen plenty of eye rolls and heard some very sarcastic comments that set an awkward vibe.
That's just me though.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
I still buy a digital copy of the greysheet about twice a year now but I only print off the pages I want. About a third of the monthly publication is sales adds anyway. It's a good reference point but read the fine print about the retail/wholesale pricing. Don't expect all dealers to buy or sell at the same % above or below the listed prices especially for key coins.
You’re certainly entitled to use whatever guide you wish. I recall years ago we use to get yelled at or sarcastic comments. Like I can’t sell for those prices. Never asked them to do so. They use what they want and the more information a collector or dealer has the better.
I see they still get grumpy about it. 😀
I've found toting the most recent Greysheet around at a coin show to be of use. Even though I'm only rarely interested in coins that can be bought "at sheet", it's a quick reference for how much of a PQ or color premium I'd be paying for a particular coin. Once the price gets over say $1k, I'm likely to also check auction records for confirmation before pulling the trigger.
PerryHall: I've always considered Numismedia to be retail
What is CDN bid for that?
The PCGS Price Guide is $4,250.