Greysheet- What % of Bid/Ask Do You Pay Dealers?

gamr0n

How much do you pay based on greysheet info? I don't want to offer an insulting price to a friendly dealer, but I don't want to overpay for coins.

Smittys

Greysheets can be downloaded for 3.50
They come in handy to have at your disposal

If you buy it for a year or 6 months you getting the monthly with it free

gamr0n

Ahhh the CDNi looks like a great option, thanks Smittys!

HonoluluDude

I just buy the online PDF version once a month for $4. If you're not a dealer, what's the point in subscribing?

rec78

Depends on a lot of factors-some coins can be had for bid or below-others can't be bought for two or three times bid. You have to look at rarity,popularity,availability,desirability,demand. Is the series you are looking at hot right now or being ignored? i can buy modern proof sets for 10% below bid but cant touch some key liberty seated or bust coins for double bid. Timing may also be a factor. Does the dealer want to move the coins you are looking at or doesn't he care how long they are in the case? Smoetimes dealers need cash and will sell for any reasonable offer. Just offer what you think the coins are worth. They usually will counter -offer and then you can get a read.
And so what if you insult the dealer?-they insult you with their pie-in-sky prices a lot of times. Bob

shirohniichan

<< <i>Depends on a lot of factors-some coins can be had for bid or below-others can't be bought for two or three times bid. You have to look at rarity,popularity,availability,desirability,demand. Is the series you are looking at hot right now or being ignored? i can buy modern proof sets for 10% below bid but cant touch some key liberty seated or bust coins for double bid. Timing may also be a factor. Does the dealer want to move the coins you are looking at or doesn't he care how long they are in the case? Smoetimes dealers need cash and will sell for any reasonable offer. Just offer what you think the coins are worth. They usually will counter -offer and then you can get a read. Bob >>



Yea, verily.

TomB showed a couple of coins that stood out as spectacular for the assigned grade. If you see an AU-58 coin that puts MS-62+ coins to shame, don't think you'll get it for anywhere near MS-60 bid or ask. You can insult the seller by offering sheet prices for any superb specimen, no matter what the assigned grade.

Those who buy only with regard to cost in relation to sheet prices will end up with low-end coins.

jom

>>>>>Those who buy only with regard to cost in relation to sheet prices will end up with low-end coins.

This is true but the original poster of this thread needs to know that the above statement usually only comes with a lot of experience. By experience I mean: buying a lot of turds for "bid" money and regretting it later.

In my observations over the years someone telling a newer collector these things almost always doesn't help. The newer collector needs to screw up yourself before they learn. Believe me, we all have at one time or another and probably still do.

jom

coynclecter

An average generic coin should be gotten between bid and ask. Nicer coins you should pay no more than 10% over ask because you won't get any premium when you go to sell, no matter how nice.

On rarer coins and tough to find, the sheet has little value except negotiating, if you want it bad, expect to pay what the seller wants.

A funny story, I saw a coin at a show and the dealer asked for an offer. I gave him one a little under bid. He replied "heck, thats what I'm paying for them" to which I replied, "oh then I'm right on, I was afraid I was offering too much."

MrBreeze

This may sound stupid, but my buy prices and sell prices are more closely based on my opinion than anything else. I use the market as a guide. Once I establish a market price, I then decide how important that coin is to me or what I would be willing to pay for it. If it is a coin that I really want, I would pay anything reasonable. If it is a relatively abundant coin with no real catch, I would not even offer bid.

gamr0n

Hmm so you can actually get proof sets for under bid?!

Fairlaneman

<< <i>This may sound stupid, but my buy prices and sell prices are more closely based on my opinion than anything else. I use the market as a guide. Once I establish a market price, I then decide how important that coin is to me or what I would be willing to pay for it. If it is a coin that I really want, I would pay anything reasonable. If it is a relatively abundant coin with no real catch, I would not even offer bid. >>



No it does not sound stupid.

Ken

Coxe

I used to get the 7 pack deal a couple times a year and that suited me just fine. Now, I generally just get the grey sheet and blue sheets covering the PL Morgans and the ANACS/ICG Morgans. As price guides, they are nothing more than ballpark estimates. I have done 60% to 1000% of the sheet price and everywhere in between and this was responsible buying IMHO too. Just look at the disparity between MS65 coins in the grey sheet and the ever popular PCGS in MS65 in the grey sheet. Admittedly, the grey sheet represents sight seen as opposed to the blue sheet. Still the difference is clear enough reason to only take those guides and all other guides only so seriously.

slumlord98

<< <i>Nicer coins you should pay no more than 10% over ask because you won't get any premium when you go to sell, no matter how nice. >>



I strongly disagree with this statement. If you use this 'sheet' as a guide to buy early type, you will have nothing but pedestrian swill. High quality early type can cost you many multiples of 'sheet'. Yes, many multiples. If you make an offer for a high quality (regardless of grade) early half dollar based on this, you will be asked to move along. If you can't tell the difference between such coins, it is best to leave them alone.

bidask

We have all seen coins that have a grade assigned and another coin of the same date/ type that has fewer marks but carry the same grade. Actually, I think relatively mark free coins should command ALOT higher. (assuming other grading charateristics are similar)

Coxe

It is not just technical grade. There are coins that just exude such eye appeal that the grade is a secondary concern. Yes, there is also a lot of valuation real estate betwen MS64 and MS65 for a lot of coins too. So coins of both technical grades can fall anywhere in between before we even start to look at strike, lustre, toning,....

greghansen

I'll take all the 1895-S Morgans you have in VF at full ask.

shirohniichan

<< <i>It is not just technical grade. There are coins that just exude such eye appeal that the grade is a secondary concern. Yes, there is also a lot of valuation real estate betwen MS64 and MS65 for a lot of coins too. So coins of both technical grades can fall anywhere in between before we even start to look at strike, lustre, toning,.... >>



Yea, verily.

I'll take a great strike AU58 over a weak strike MS62 (or even some MS63) coin almost every time (all other things being equal).

rec78

Hmm so you can actually get proof sets for under bid?!
Trade secret
From my local dealer that i have been friends with for 30 years-very simple-- he buys them for less. I buy a lot of coins form him and he gives me great deals on some things-especially proof and mint sets-but i have to be the first one there or someone else will get them. He does not like to stock a lot of mint and proof sets. A lot of dealers at shows will sell them for bid. some want ask... Bob

Elcontador

1) Decide what series (singular or plural) of coins you like
2) Decide what grades of 1) suit you
3) Look at price guides and see if you can afford 2). If so, great. If not, start over.
4) Buy the book(s)
5) Look at as many coins as necessary for you to get a feel for how a coin in the grade(s) that interest you should look. Going to shows is a good way to do this. CAVEAT - LOOKING AT AN IMAGE OF A COIN ON THE INTERNET IS NOT CONSIDERED TO BE LOOKING AT A COIN.
6) Find someone who knows more than you do - and you trust - who will give you a second opinion on any coin you are thinking of buying.

Are you still with me? If so, NOW, you are ready to consider buying a coin (or some coins).

roadrunner

Price guides for many coins are 100-200% off, esp for early bust, and many 19th century dated silver and gold coins.

There is no basic rule. Some coins aren't even worth blue sheet bid which works out to be around 60-80% of grey sheet bid. If you cannot grade or determine quality within a grade you have no business making your own buying decisions unless you buy totally generic pieces such as MS64 Morgans.

roadrunner