Are the employees of the Gresheet publisher or book publishers (like Whitman) prevented from trading

Longacre

Maybe I am overstating the power of these two classes of people, but I think that the publisher of the Greysheet (with its almost cult-like following by the Slaves to the Sheets), along with the numismatic publishing giant Whitman, have a significant influence on the coin market.

I understand that the Greysheet is essentially an accumulation of reported prices. However, there is usually a significant lag between prices at auction and the marketplace in general, and the time that they get reported in the Greysheet. Sometimes, in my opinion, there does not seem to be much of a reason for Greysheet increases for particular coins (although I have benefitted recently from an arbitrage of a particular date gold coin, so I'm not complaining). Similarly, whenever a new Whitman book comes out on a particular coin series, I find that there is a marked increase in that series' popularity, and a resulting bump in prices. I don't think the books create a feeding frenzy for the coins, but the nicely prepared books definitely spark some interest.

Does anyone know if employees of the Greysheet or a numismatic publisher are prohibited from buying or selling coins? If a Greysheet employee knows that the next Greysheet issue will increase the prices of an 18XX Morgan dollar by 10%, it would be easy enough to buy that particular coin immediately before the Greysheet comes out, and then sell it immediately after. Or are the dealers too smart for this and the prices would already reflect reality? Any thoughts?

HTubbs

I personally would not have any problem if any of the employees or owners dealt in coins.The greysheet or the Whitman guide are not the final say in the market,rather they are just suggestions that you may choose to follow.

ColonialCoinUnion

Hahahaha.

Leiana

Insider trading, in coins?

-Amanda

HTubbs

I think it would only be morally wrong if the values were raised just so that an employee or owner would benefit from a sale. I think it would reassure buyers if these two companies were to advertise like PCGS or NGC that they are just bystanders in the market.So instead of making the "news",they just report it. But there's nothing wrong with them buying and selling coins...


Hayden