What a dealer says about greysheet.

Coin Finder

I had an interesting time this weekend. To make a long story short, I bought a coin for way over greysheet. I saw the price and asked for a greysheet to use as a comparison...nothing more. The coin was priced at way over the grade on the slab, way over the grade on the slab if it was the next grade up! I asked the dealer for a red book which he gladly gave me. I saw I was paying more there too! I liked the coin, actually I loved the coin. You would to. As I was contemplating my purchase, the dealer, a good one with 40+ years experience says to me, " You want a coin like that at greysheet price, buy it from them, this coin is mine and it is for sale here and now for this price no negotiating!! I was taken back a bit, then I looked at the coin again and realized. He was right! Greysheet is not in touch with the market on many items and greysheet does not have to sell anything! They do not have to move coin inventory to stay in business.


What I Bought:

I paid VF greysheet money for a choice, no problem 1922 no "D" strong reverse PCGS f 12 Lincoln cent. When I say choice, I mean the color was there, the surfaces were there, the rims were there, no spots, no hairlines, no dings....just choice copper at its glorious finest!

I know the dealers on this forum could give a rip about some small time coin purchase in some po dunk town, but take heed all you coin buyers, greysheet is not the rule on pricing nor is red book. Knowing a coin and its place in the market at a given point in time can only be understood by letting you ego and your guard down momentarily and letting someone shift your experience toward a different paradigm! Some will say I paid to much, to those I say if you owned this coin and put it up for sale you would say just the opposite.





Tbig

TWODOGS

I say, if you like the coin and to you the price is right, go for it. It's no different than someone paying $250 for an MS-64 common date Morgan because they like the toning.

I actually like this one coin dealer I deal with that's so hung up on the Greysheet. It seems that he has no grasp of the concept of eye appeal. I can get a real beauty for the same price as a dog if they are the same date and mintmark.

ksteelheader

I had made a reply to a thread the other day about 1922 no D strong reverse. I said that you would pay multiples for this coin in any grade if you wanted it....Ken....Here is mine...
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BillJones

Isold an NGC EF-40 1922 Plain with the strong reverse to another dealer for well over "bid" a few months ago. That coin along with most any early coin you can name trades for prices beyond the "bid" and "ask" levels on the Gray Sheet consistently when the coins are attractive and properly graded.

The Gray Sheet has some aspects of Blue Sheet built into it. Although those numbers are sight-seen prices, they have been adjusted down for the usual quality of seen at the grade levels that are in today's slabs. Certification grading has gotten looser in recent years

jdimmick

As a collector of only key-dates, I can tell you that the price you paid was definitley fair, just based on your description.

I too carrry the greysheet at all times, but merely only as a buying reference. Many good quality, eye-appealing coins that are choice for the grade command strong prices over cdn bid/ask levels. Most of the time if you find a coin that you like, but dont want to pay the price, there is usually several others who will. I am not a dealer, but many friends of mine who are, will pay over cdn levels to get these quality pieces, because they know even at those levels, they can still turn them fast and usually already have it sold, as there buying it.

I can tell you from expereince I have paid super strong money for a coin because it was so choice and rarely comes around only to be sitting under bid within a year because of steady advancing prices. The ones who pass on these type coins will never obatain one, because they are waiting for the bargains, which usually never come around or they end up purchasing a sub-par quality piece.

Regardless of the price, good quality pieces will sell them-selves far more easily when its time to sell, or trade-up.


By the way Steelheader, Nice 22-plain. I currently dont have one of these, for some reason, thinking back I am not sure why really, maybe its because its an error and I elected not to pursue error pieces. However, I may look into aquiring one. There has been a strong intrest in 22 plain's of lately, and I think the price is getting ready to advance some more.

jim dimmick

coinlieutenant

You can see by my purchase last night that the greysheet doesnt always matter but it does matter an awful lot. There are many cases in the greysheet when it is off. Especially key dates, tough coins etc as mentioned. Key dates, you ususally have to pay a grade higher money.

However, on most of the market, I feel like th greysheet is right on. Keep in mind that dealers love key dates because they know that they are in demand and can therefore charge higher prices for the coin. They still pay close to greysheet (or worse) money for the coin.

You did just fine on the 22 no D. I would say that for the common dates, strive to pay greysheet. Even though dealers say that they dont like an educated collector, in many ways they do. It makes the transaction much easier in many regards. We will never be on a peer to peer basis with most dealers, but really all you need is one that knows that you will drop trou for him and vice versa.

John

braddick

I haven't looked at a GreySheet in over five years.
All it would do is make me cry.

Premium coins are NOT listed in the GreySheet.

Commercial, run-of-the-mill coins are.

bumpy

<< <i> but really all you need is one that knows that you will drop trou for him and vice versa.

John >>



I will admit this is a numismatic phrase with which I'm unfamiliar.

NBSQLGeek

I look to past ebay auctions and pay the average. Its like looking at the PCGS daily price guide, some insane prices for their grade coins. No one will pay what they have listed on their site like a 2002 FS jefferson.

Veep

Graysheet price DOES matter for many coins. For others, its just a start. You also have to keep track of prices seen in ads, on dealers' websites and at auction for similar coins in order to put the whole price picture together.

stman

Yup, I'm one of them that takes the Grey Sheet with them to shows. I rarely take it out as I'm up on current prices and with my tastes these days I Never get a coin for even close to sheet price. But I like to have it in case I see something I'm not in touch with. Or just to have a starting point.

What's funny to me is all through the years the dealers would never let me take a peak at a Grey Sheet. Held it like their bible and still do. They don't want us collectors to even pull it out and give the speech how it's no good. But when you go sell something what do they pull out right away? No sometimes not even the Grey Sheet it's the Blue Sheet. All of a sudden the lowball sheet prices matter. Not knocking dealers here as I love them and they love me as well. (wink)

ultramike

The greysheet is ONLY A GUIDE-I've paid many times what greysheet said just to get the coin-i never leave home without it though as i may need info thats not familiar to me.
just my buying politics-and i don't grind on any seller for a few bucks when were talking hundreds, maybe thousands of dollars, good way to get reputation as cheapskate !
Ive seen dealers squabble over half a buck on a 2 hundred dollar deal-how dumb.!
Regards
Mike Rogers
ultramike@collector.org