Greysheet vs. CGP Coin & Currency Market Review
Russell12
Posts: 233 ✭✭✭✭
if I am not mistaken, the Greysheet is what dealers will buy a coin at and the CGP is what dealers will sell a coin for. Is ther a general rule as to the percent difference in the two prices?
As I upgrade my coins, I would like to know what a dealer will pay, but I do not subscribe to the Greysheet.
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GS CDN bid is a wholesale dealer to dealer price and CPG is the CDN retail price based on CDN bid.
Beyond that everything is negotiable between the buyer & seller based on market conditions. A dealer is going to pay based on inventory needs, what he can get for the item, sales outlook, and may discount due to business cash flow needs.
If you want to know what a dealer will pay simply shop the coin around the bourse at a show - ymmv.
Example:
Frankie won a nice 2023 PCGS Peace $ from online auc at $96 - CDN bid is 110 / CPG retail is $145. He plans to sell it around CPG as it’s very nice. At shows he offers 10 pct behind bid for A coins, 20 pct behind bid for B coins, C coins - pass. He says in most instances this beats what they can get from the auc house considering the shipping costs / auc house juice. Current Mkt conditions - he is winning material from auc considerably below bid. He picks off stuff from the wholesaler before the public comes in at bid to retail to the public. Franks are in the tank - he bought 4 slabbed pieces (64-65) at the absurdly low bid prices from the wholesaler for $120 (could not believe the guy gave them away for that) flipped to a buyer at $200, having been talked down from $225. He did well on another batch he picked up there at slab cost.
In conclusion it’s all about working your angle with your skill set, budget, network one has.
@Cougar1978 correct and very good example and point about how this all works. Two things I would add:
1. The 2026 Red Book values will be based on our CPG values, completely replacing values in previous Red Books. THis means you can keep up with pricing on greysheet.com web site as prices change daily;
2. The "CPG Rare Coin Market Review" magazine is being re-branded as "Red Book Quarterly" starting with the next issue.
It's all very exciting! Thanks for asking @Russell12
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
I have used the PCGS price guide at times for PCGS graded coins!!
@JohnF . i have not purchased a Redbook for a few years now. The primary reason why is because I have become much more interested in looking for varieties. IE 1843/1843 Seated Dime, 1878-CC cancelled die Seated Quarter, etc. Would you be able to say if you intend to expand the number of varieties in the Redbook? james
those would fall under the more logical publication of Cherrypickers' Guide series. We are totally re-thinking that series. Not sure what we'll do yet but probably consolidate to one large volume to be published annually or every 18 months or so. We are seeking a new editor for this series. If anyone is interested, please drop me a line at john@whitmanbrands.com.
John
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
As @Cougar1978 said:
Unfortunately, my experience has been that dealers want to discount from GS bid unless they really, really want the coin.
In dealer to dealer transactions at last show setup got material from wholesaler setup (owns swanky shop) around bid plus 1-5 percent. Some at bid. It’s unknown what the material is walking in his shop at.
However - If one walking up to dealers table at show to solicit an offer from a dealer offer could be bid less 10-20 pct or even 2/3 of bid depending on the material / inventory needs, current Mkt conditions. They may offer more on something they can get really good retail money on (special client).
There are 100 variables to consider in what kind of offer you'll get relative to GS: most important are the quality and desirability of the coins you are selling. But also knowing the right dealer for the right material. The Greysheet is a guide. The current market environment is key. Personally, I think this year's FUN show is going to be a Greysheet+ kind of market. I feel demand firming across the board. Nothing crazy but market is improving from where I sit.
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
It's true, depending on what the coin is. Dealers will also pay over bid for some coins. As always, a guide is a guide, not a Bible.
I can relate to these thoughts having had them many times myself.
This is what I think I've learned:
1. The only way to really know what a dealer will pay is to ask. Guides are not fixed prices.
2. Dealers need to buy cheap enough to run a business at a profit. Help them make a profit.
3. You have an edge when you have a premium coin that appeals to the dealer as a collector.
4. Coins are one of the hobbies where you can recover some of your cost once you tire of the coin.