Quick question for the group about Greysheet
Coin Finder
Posts: 7,509 ✭✭✭✭✭
Grey sheet has grades dates of coins, US coins it even as columns for CAC in some cases it even has columns for PCGS graded coins
Would you consider these wholesale prices or retail prices? I mainly asking about the non-graded prices for example, greysheet price for a 1910 p Lincoln cent in a au50 is eight dollars. Would you pay that if the coin was in fact ungraded but definitely AU with no problems?
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From the Greysheet website:
"Since 1963, the Coin Dealer Newsletter (CDN) has been in the information business. Our monthly Greysheet is a must have for all coin & currency professionals, and fills a very special need in the coin business: current, accurate wholesale information on the BID level of U.S. coins. Bid is the estimated amount that one dealer is willing to pay another dealer to purchase a needed coin."
To answer the OP . . . . . . NO. I have several in various AU/low MS grades and that seems particularly high (for an AU50). That particular example, in the 'real world' . . . seems a bit high.
To continue though . . .
I recently set up at the Grand Junction, CO show (great time, good supporting club, nice venue, but minimal retail traffic through the full 2 days). One long-time out-of-state dealer remarked to me during a (continuous) lull . . . "I am sick of the collectors walking up, flopping a Greysheet down and picking out a perfect PCGS/CAC Type coin, then expecting it to be 5-10% back of Grey. THEY SHOULDN'T BE ALLOWED TO EVEN BUY A GREYSHEET!!!!!"
In a way, I sympathize with him. Collectors will always gravitate to the publication that offers the lowest (wholesale?) pricing. Dealers will move towards the highest level guide they can find that seems reasonable (CPG, PCGS Retail, CAC Retail, etc.) Then you will get other clientele who will credit auction results as complete gospel.
In all cases . . .the quality of the coin seems to be totally lost (or at least not discussed) by the collector. As a dealer, unless you have cultivated a clientele who appreciate the quality of a (within the grade) coin, you are destined to be hammered by a public expecting CAC, superb toning, better date, high-end, perfect strike pieces . . . . .for 5% back-of-bid. Part of that problem is that they do NOT accept/understand/care about any pricing structure over the bare minimum.
It is just the way it seems to be . . .and will always remain.
Drunner
I would gladly pay Greysheet for most common coins if I wanted it for my collection. It's not perfect, but no guide is.
All comments reflect the opinion of the author, even when irrefutably accurate.
For non-graded generic McCoins like the one described, Bid is probably closer to retail.
CDN Bid is wholesale, CDN CPG is a retail / Market Value guide based on CDN Bid. It has pricing for both CAC / CACG and non CAC. Many will put a small price sticker on back of holder along with Cost and CPG to support retail pricing goals.
Beyond those guidelines ymmv due to market conditions. Issues that are PQ the seller likely may want more than just CPG. Or cost plus may weigh in certain situations. For purchases recorded in the GJ, I keep tabs of inventory purchases vs CDN bid as a kind of procurement parameter.
I use greysheet as a guide and not a bible.