Is it wrong to pull out a current grey sheet
MrKelso
Posts: 2,907 ✭✭✭
in a coin shop or at a coin show when the dealer pulls out his or hers?
Edit to add: and your not a dealer, just a collector.
Edit to add: and your not a dealer, just a collector.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
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(But to avoid being rude, you should pull out your wallet at the same time
If I only had a dollar for every VAM I have...err...nevermind...I do!!
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Not wrong at all. How else are you going to know if you are paying a fair price or not? >>
<< <i>So you have the whole greysheet memorized Cointagious.
<< <i>one up him and pull out a bluesheet. >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Of course we are working on the premise that sheet prices are accurate. >>
Likely they are as accurate as the prices the dealer has marked on his inventory or that he quotes you.
<< <i>Actually I would pull out a redsheet and really cross him up.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>Of course we are working on the premise that sheet prices are accurate. >>
Indeed, sir. Indeed!
Rob
<< <i>I think pulling out a greysheet kinda tips him off that you are an rookie!! >>
I see dealers pulling out grey sheets all the time. Are they rookies? Now pulling out a red book would definately tip him off that you are a rookie.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I see dealers pulling out grey sheets all the time. Are they rookies? Now pulling out a red book would definately tip him off that you are a rookie. >>
Of course not but they deal in ALL manner of coins and can't really be expected to memorize them all. A collector OTOH shud have a pretty good idea of prices for stuff he is interested in. I would go a few tables away; look at the sheet and THEN come back.
appliance store when I was shopping for a VCR. A salesperson saw it in my hand and immediately started
putting it down in a very sarcastic way. I did not appreciate that and got out of there in a hurry.
in the USA will be more than happy to rip you off!
item than they do. If they can't handle that too bad. These days with the internet overflowing with information the consumer can know as much about something as a salesperson.
<< <i>Speaking of rookies, Where can I get a greysheet? LOL
Rob >>
Go to greysheet.com
You can download a PDF of the current issue for $4.
<< <i>Its not wrong of course, but there might be a time when it aint too smart. >>
Can you give us a few examples?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>one up him and pull out a bluesheet. >>
Gotta love it.
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Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
Buying:
I already know what the price history is on the coins I'm looking for, or at least, I have a pretty good idea of where it should be give or take a little. It would not be prudent to just go up to a dealer and say "Hey, I want one of those, how much is it?". When you go to buy a coin, you should certainly have a pretty good idea of where the market is on that coin well before you start talking to the dealer about buying it, unless of course, you just need to burn off some excess buks. It only makes sense to know what you are buying, what it's worth, and how available they are in the condition you are looking for and what the relative market is for the coin. If you are up to speed, the worst case scenario is when you finally get to talking about the coin and the money, you have something to talk about because you have some idea of what you are looking at and what the current market is for the coin, what it's value in real today dollars may be, what the availability of that coin may be. Best case scenario...you can both quote the market stats are on the coin, both have some idea of the availability of the coin in the market place, and you both have an enlightened and educational visit. And the very best case scenario...you walk away with a great coin at a fair price, share a little knowledge about the series, and make a "friend" through the transaction. If you are trying to buy a coin with your handy-dandy little grey sheet, you probably don't know what that coin is worth in the first place, or what you may be willing to pay for it with your personal money, or any of the other factors that should make up the framework of a righteous deal. Without being informed about your prey, you are left with whether you like the guys attitude, his manners, or his/her after cologne, the way he/she arranges his/her display case...all of which have absolutely nothing to do with the deal. So...what do you need with a grey/blue sheet?
Selling:
If I want to sell a coin to a dealer and he pulls out a grey/blue sheet, I'm looking for the next place to go. If the dealer doesn't know what a coin is worth, what it is going for, the market for that coin, then what's he going to quote you...some BS price from some previous date plus a little profit? He may be shorting himself because the sheets are notoriously outdated in this fast paced market place. He may be ripping you through his own ignorance because he doesn't know what the coin is worth and he's just making a deal. You may be ripping him because you are up on the market for that coin and he's not. Personally, I like a clean deal with two educated parties in a common market place, working out a transaction between a willing buyer and a willing seller.
Third scenario:
Dealer pulls up his computer screen and gives you the population, realtime ask/bid quotes, availability, and market conditions for the coin you are talking about. That's what the coin is worth right now, today, no 20% back of bid, no ask + 15%, no boogie woogie or juju, just the the current market value of the coin. As soon as I see a grey sheet and I see the calculator come out, I know that we're getting ready to start talking some kind of gobbley gook. It really takes the BS out of the deal if you have access to current information, be it from a subscriber service or the net, or your personal experience. People get this mystical approach to coin buying and selling, it's just a market place and the less BS and mysticism, the better. If it's a really nice coin for the grade...it's gonna cost more, now there is something you can talk about "How much more?". If it's a dog for the assigned grade...it's a dog, what's it really worth in terms of your personal dollars...now there's something you can talk about "How much?". In then end, maybe you make a friend/acquaintance and a deal. The best deals will occur between a well informed buyer and a well informed seller. So, if you or a dealer pulls out some outdated quote/form that is being used for a real time deal with your personal money and you see his mind working on % this or % that...why be there?
JMHO
But I'd add--basically in this market, if the coin's value is anywhere near greysheet, it's NOT super nice and original enough to buy in the first place. Occasionally you can and do find sheet dealers with super coins you can cherry over GS ask, but that's not the rule.
I did have a problem once with one customer who asked to borrow a Redbook to look up a mintage figure in, and when I handed him a spiral-bound copy he asked for a hardbound copy because that is the only kind he uses!
LOL
TD
Use all resources available to you!
TorinoCobra71