the graysheet..bid, ask , or more?

CLASSICS

the graysheet has bid, and ask.., would you pay over bid or ask for a coin?.......... and if so what coins would you be willing to go the extra mile for? lincolns, buffs, mercs, dollars, early type , draped bust? your thoughts..................

fcloud

Sometimes I have paid over, other times I have paid under. Each coin deserves its own negotiation.

lordmarcovan

I'd pay bid for average quality nineteenth century type, and above that for nicer quality items.

Edited to agree with fcloud: it varies on an individual basis.

Truth be told, I only recently began using the Greysheet at all. I found I got along pretty well without it, using a variety of other references. The only reason I subscribed to it was so I could "be on the same page" with everybody else.

coinkat

original early type coins and original no motto 10 libs

Blackhawk

Good luck finding nice coins of any type for bid, unless you're a dealer buying from someone who doesn't know the value of what they have.

jeffnpcb

Throw that crap out and try to follow the market! Previous auction price info is available everywhere! Grey sheet only applies when you want to sell and a dealer figures the price! No win situation unless you follow actual market trends and not publications written by dealers for dealers!

lordmarcovan

As a small dealer buying from larger dealers at the Charlotte show, I was able to get a few 19th C. type coins at bid, but they were generic quality. I did get a few "cherries" at slightly above bid.

It took some shopping around, though. I was looking mostly for circulated stuff under $100, which is what sells well in my mall booth.

Baley

the harder an item is to locate, the more above ask I'd be willing to pay if the coin was all there for the grade.

easy coins, with many examples to choose from, you can shop around and bargain some. Looking for a gem kennedy half? what date and how many would you like? sure, sure, they're rare in 69. but you can have all the 64s and 65s you want. even if your taste runs to 66 or 67, you can find them.

tough coins, something really rare like a small eagle half dollar (1796-1797), if you want one, you not only have to pay what it costs, which is a lot, but you have to take the one offered and decide yes or no, do you want it? and if you pass, thats it, you go on waiting for another opportunity which might not come for months or years. and when one does surface, the more you might have to pay to acquire it.

michael

well an interesting question

i guess for me if a coin that is within my speciality were to come up i would need to see the coin and then this greysheet and then i could tell you

some coins sell for below greysheet some at bid/ask and others for more to lots more to multiples of bid

it would be hard for me to start with greysheet as most coins that i am familiar with are not even listed on the greysheet!!



sincerely michael

coinlieutenant

Really depends, as everyone else has said, on the coin. I have only paid bid, or near it (10%) on one out of my ten coins.

The most in relation to sheet I have paid is for that 1871 Proof 66 CAM trime that I posted the other day. Sheet(blue) is 1300. I dropped 4100 on it. However, I have not seen its equal yet, everyone turns into slobbering mess when they see it and if I get it into a DCAM holder, which it should be, then hold on to your purse strings baby if I ever go to sell it.

When it comes to coins that i collect, I try to think of them like a painting. I know that if I am willing to pay that much for a coin then someone else will as well, so therefore I'm in fine on the price. Every coin that I have, someone has offered me a profit.

Bottom line, if you want a collection that people will remember; if you want a collection you never get tired of; Dont worry about the price.

That doesnt mean that you shouldnt try to get them for sheet however.

John

topstuf

The biggest mistake I made as a newbie in coins was in looking for coins I.............."NEEDED."

The memory of what I....."passed" .....on is still with me.

There are always DEALS. TAKE em. Forget what you "need." (cept food and beer)

I stepped over diamonds looking for rocks.

It takes a while, but I soon found out that what I "needed" would show up eventually.

If what is in FRONT of you is nice................ you NEED it.

merz2

I have to agree with the rest.It depends on the coin.I too have paid over bid and even over asked many times.

FC57Coins

A lot of times DMPL Morgans go for something above bid because they're so desirable. It just depends on the coin, and how much the buyer wants it!

barberlover

It depends on the coin, eye appeal is the single most important factor to me in buying a coin, then technical surface quality and strike [i wont mention luster because thats part of the eye appeal factor along with color]

The worst eye appeal mistake i ever made was not buying a dealers best barber half for 60 % above grey sheet 3 years ago, bid on the coin was 2200 in 64 and he wanted 3500 and wouldn't budge. To this day i have never seen a barber half in any holder in any grade with better eye appeal or luster then that coin and the obverse was technically a possible 65 even though apparently pcgs thought there were a few to many light contact marks. i beleave it was a 97 S.

Sometimes you do have to pay more than you want for the right coin, but i hate having to do it!!!

BillJones

A lot of Gray Sheet prices for early coins have "dumbed down" because the lose grading standards.

According the Gray Sheet the "bid" / "ask" range for a 1793 Wreath cent in AU is $11,500 / $12,500. I can tell you right now that the price for true AUs is over $20,000, and it's been that way for over 10 years.

This spring I sent my coin in for grading at NGC. I grade my coin an VF-30. If one were generous one could call it EF-40, but that would be a stretch. The coin came back as an AU-55!!!!!!

I'd always been bummed by the fact that I had owned this coin for years and that its price had not seemed to go up as much I thought that it should have. Now I know the answer. You don't get a true AU for the money listed as AU

A dealer friend had a Wreath cent in a Mint State holder. The coin at best was AU-50, probably more like a 45. This is an exmple of the same situation.

ANACONDA

Early copper seems to me to be perenially underpriced in the sheets. The reason early copper is underpriced is so many of
the EAC guys don't know how to grade early copper. A lot of guys have coins they own and believe are VFs but are actually AUs.
(A lot of EAC guys are Mennonites with failing vision...many of them can't go to an optometrist for religious reasons, to have their
vision corrected..)

So, when there is an auction with copper in it and an XF comes up for auction, they bid VF money. This obviously has negative effect on
the sheets.

Offer the same coin to a guy under 40 years old and he'll pay fair money for the coin, which is usually way above sheet because he knows
what the coin really is, and is aware of what we call "the Mennonite effect".

You can know the early guys are mistaken about the grades they assign because PCGS and NGC, the real graders of coins, almost
always assign a grade several points higher than the EAC guys.

Incidentaly, the EACS guys for some reason VALUE their VFs at AU money. I can't hardly ever buy coins from them....only from other
sharpies like myself.

EAC guys think (and can't be persuaded otherwise) that because Sheldon created the grading scale that it can't evolve into what it is
today. Many of them, as i've said, are Mennonites and don't have cars, either.

(Incidentally, EAC guys use "Copper Quotes by Robinson" which utilizes "scudzy" as a grade. I think that's kind of important.)

The undergrading of early copper is a common problem but i'm afraid that we're stuck with it until all us young smart bucks are
lowering the oldsters into their graves.

adrian
(always serious)

ANACONDA

Also, early dollars are usually underpriced. They are just so cool that just everyone doesn't mind paying way over whatever sheet currently
is, for them.

Last weekend a dealer bought almost everyone of my early dollars at way over sheet.