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Who are these PL/DMPL market makers? Does anyone know?

RondorRondor Posts: 116 ✭✭✭
edited July 2, 2022 4:18PM in U.S. Coin Forum

I have read about a couple of dealers who are driving this in the wholesale market in particular.

Any advice is welcome.

Comments

  • dollarfandollarfan Posts: 315 ✭✭✭

    What did you read?

  • RondorRondor Posts: 116 ✭✭✭
    edited July 2, 2022 4:57PM

    That morgans are off accept for PL/DMPL's that are still headed up. This was being created within the wholesale market.

    Guess this link might have helped with context...sorry.

    https://www.greysheet.com/news/story/the-business-of-numismatics-july-2022-greysheet?utm_source=Klaviyo&utm_medium=campaign&_kx=Y692M8HmnCWaDk9ze_N3Bzb9XzdjfdeDL3Qf_lk35Jo=.TrdffQ

  • dollarfandollarfan Posts: 315 ✭✭✭

    Interesting read. I didn't pick up that it was just a couple dealers but the market in general. If the price guides are even remotely close with regular graded specimens then the PL and DMPL are undervalued in my opinion. I collect alot of those and haven't paid less that full price guide for a while. On heritage,legend,GC and ebay. Nice pieces are still going strong.

  • dollarfandollarfan Posts: 315 ✭✭✭

    With the key word being "nice"

  • jmlanzafjmlanzaf Posts: 31,845 ✭✭✭✭✭
    edited July 2, 2022 5:05PM

    I'm not sure what you are looking for. The CDN Exchange is a dealer to dealer network. I used to be a member and, to preserve privacy, I won't name names. However, you could guess the names. All the big players are on there: Heritage, JA, Legends, GC, etc. I think it is pretty well known who specializes in dollars.

    If you want to sell dollars, call any large dealer and they will get the prices from the exchange. The Greysheet bids reflect those open bids on the Exchange.

    There is nothing unusual about this, by the way. Those same market makers always have a large influence on the market price. Otherwise, they wouldn't be market makers.

  • RondorRondor Posts: 116 ✭✭✭

    It says

    "There has also been significant wholesale bidding activity on CDN Exchange for Proof Like and Deep Mirror Proof Like Morgan Dollars. The leading dealers in these two series are making a market in an area that has long been overlooked."

    I thought that insinuated not all were leading dealers in these two series. That is why I asked who they are.

  • jmlanzafjmlanzaf Posts: 31,845 ✭✭✭✭✭
    edited July 2, 2022 5:44PM

    @Rondor said:
    It says

    "There has also been significant wholesale bidding activity on CDN Exchange for Proof Like and Deep Mirror Proof Like Morgan Dollars. The leading dealers in these two series are making a market in an area that has long been overlooked."

    I thought that insinuated not all were leading dealers in these two series. That is why I asked who they are.

    The same people who have been making market in them for years. JA, perhaps Heritage. Not all dealers are market makers in all areas.

    I think you are looking too hard at that sentence.

    Doug Winter is a market maker in gold, for example. To preserve anonymity, if they were talking about gold they would have referred to "major gold dealers".

  • CatbertCatbert Posts: 6,600 ✭✭✭✭✭

    @jmlanzaf said:

    @Rondor said:
    It says

    "There has also been significant wholesale bidding activity on CDN Exchange for Proof Like and Deep Mirror Proof Like Morgan Dollars. The leading dealers in these two series are making a market in an area that has long been overlooked."

    I thought that insinuated not all were leading dealers in these two series. That is why I asked who they are.

    The same people who have been making market in them for years. JA, perhaps Heritage. Not all dealers are market makers in all areas.

    I think you are looking to hard at that sentence.

    Dog Winter is a market maker in gold, for example. To preserve anonymity, if they were talking about gold they would have referred to "major gold dealers".

    Love Dog Winter. The Dirty Old Gold man! 🤣

    "Got a flaming heart, can't get my fill"
  • jmlanzafjmlanzaf Posts: 31,845 ✭✭✭✭✭

    @Catbert said:

    @jmlanzaf said:

    @Rondor said:
    It says

    "There has also been significant wholesale bidding activity on CDN Exchange for Proof Like and Deep Mirror Proof Like Morgan Dollars. The leading dealers in these two series are making a market in an area that has long been overlooked."

    I thought that insinuated not all were leading dealers in these two series. That is why I asked who they are.

    The same people who have been making market in them for years. JA, perhaps Heritage. Not all dealers are market makers in all areas.

    I think you are looking to hard at that sentence.

    Dog Winter is a market maker in gold, for example. To preserve anonymity, if they were talking about gold they would have referred to "major gold dealers".

    Love Dog Winter. The Dirty Old Gold man! 🤣

    Lol. He's a BIG DOG in the gold market.

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