pricing question.

madax425

I sometimes see a coin listed as just say $500.00, and then somthing like "greysheet bid is $425.00. If the coin is correctly graded and all there, why wouldn't the person just sell the coin to whomever bid $500.00. I dont know anything of the wholesale side of the business. Who makes up the bid and ask pricing? Can you sell your coins for bid? My local dealer usuall charges ask or less when I buy a coin, and a percentage back of bid if I want to sell him something. His prices are almost always lower than what I can usually find on e-bay ect. Thanks for thelp.

mozin

Most dealers I know normally buy for 15% back of Greysheet Bid, seems to be the standard. The selling price varies, and I don't think Ask is of much use.

Steve

I'd say to use your head and some logic. If your dealer is willing to buy your coin for a percentage back of bid, that means that because you are a collector, not a dealer, he will pay you less than the normal dealer to dealer bid price. Why will he pay you less? Because he assumes the coin you are selling him may not be quite as marketable to another collector than a coin another dealer might sell him. That other dealer may have more experience with coins than you do. You, as a collector must recognize and understand wholesale pricing and retail pricing. A dealer is in business to make money on every transaction. The best DEAL you can make when dealing with coins is first get knowledge in the series you are interested in and then learn to KNOW what a given coin is really worth. Price guides are just that, price GUIDES. And almost all of them aside from CDN are retail price guides. Good luck. Steve

Shortgapbob

My best advice is, unless you have a strong knowledge of how Greysheet works, be careful. Some coins are worth way, way over bid, and others are not worth anywhere near bid.

For a quick example of each, look at 1885 business strike Three Cent Nickels in all grades and 1922 $20 St Gaudens in MS-65.

jdimmick

exactly,


I always love going to the other shops where the dealer lives and dies by the greysheet.

can sell them overpriced stuff and what they believe is a discount because greysheet says x

and buy other coins and what looks like might be a high price , when in fact its a bargain/ and sometimes a steal.