I get irritated when offered "75% of bid because I might have to sell to another dealer". Your inability to sell above wholesale should not be my punishment.
Otherwise, I guess it's fine?... debating if my subscription is worth the cost, and the app is horribly formatted, IMO.
@ChrisH821 said:
I get irritated when offered "75% of bid because I might have to sell to another dealer". Your inability to sell above wholesale should not be my punishment.
Otherwise, I guess it's fine?... debating if my subscription is worth the cost, and the app is horribly formatted, IMO.
You don't stay in business if you buy coins you can't sell. They could just no bid, but that doesn't help either one of you.
All comments reflect the opinion of the author, even when irrefutably accurate.
@oldglorycoins said:
I know that most dealers swear by it when buying, and I'm curious what collector's think when dealers quote them 'bid', or a percentage of bid.
Collectors prefer I use the Red Book. Some insist.
@oldglorycoins said:
I know that most dealers swear by it when buying, and I'm curious what collector's think when dealers quote them 'bid', or a percentage of bid.
Collectors prefer I use the Red Book. Some insist.
That is when you pull out a 1947 First Edition.
Easy Profit,
Red R.
Those first three named earned their fate, sometimes repeatedly for violating forum rules of behavior. I don’t miss them.
Yes, they did. But we lost a lot of interesting discussions when we lost them.
Interesting, but rude behavior. No excuse. Bye!
Red thinks @Catbert is, ironically, demonstrating rude behavior with his post.
Not exceedingly surprised,
Red R.
This forum is often one big mirror held up to individual's behaviors.
.
The mirror shines pretty bright on the two of you Joe. You and Red should grab a private room.
just don't tell us about it.
Although often mistaken as the Peace Maker on this forum there really isn't much, I singlehandedly can do to motivate POL's into having a better attitude.
Writing in the First Person,
Red R.
I don't. We lost a lot of good people. Skip Fazzari, Roger Burdette, Laura. Even Mark Feld at one time.
Those first three named earned their fate, sometimes repeatedly for violating forum rules of behavior. I don’t miss them.
Yes, they did. But we lost a lot of interesting discussions when we lost them.
Interesting, but rude behavior. No excuse. Bye!
Red thinks @Catbert is, ironically, demonstrating rude behavior with his post.
Not exceedingly surprised,
Red R.
This forum is often one big mirror held up to individual's behaviors.
.
The mirror shines pretty bright on the two of you Joe. You and Red should grab a private room.
just don't tell us about it.
I thought you had Joe and Red on ignore?
Joe and Red are having fun. Joe and Red like to share the fun. Expect to see Joe and Red on every thread on the forum, just hanging out and having some F-U-N!
All comments reflect the opinion of the author, even when irrefutably accurate.
Those first three named earned their fate, sometimes repeatedly for violating forum rules of behavior. I don’t miss them.
Yes, they did. But we lost a lot of interesting discussions when we lost them.
Interesting, but rude behavior. No excuse. Bye!
Red thinks @Catbert is, ironically, demonstrating rude behavior with his post.
Not exceedingly surprised,
Red R.
This forum is often one big mirror held up to individual's behaviors.
.
The mirror shines pretty bright on the two of you Joe. You and Red should grab a private room.
just don't tell us about it.
Although often mistaken as the Peace Maker on this forum there really isn't much, I singlehandedly can do to motivate POL's into having a better attitude.
Writing in the First Person,
Red R.
I thought Red had been hacked. Avoid that nasty 1st person. Let lesser men like me use it.
All comments reflect the opinion of the author, even when irrefutably accurate.
Those first three named earned their fate, sometimes repeatedly for violating forum rules of behavior. I don’t miss them.
Yes, they did. But we lost a lot of interesting discussions when we lost them.
Interesting, but rude behavior. No excuse. Bye!
Red thinks @Catbert is, ironically, demonstrating rude behavior with his post.
Not exceedingly surprised,
Red R.
This forum is often one big mirror held up to individual's behaviors.
.
The mirror shines pretty bright on the two of you Joe. You and Red should grab a private room.
just don't tell us about it.
Although often mistaken as the Peace Maker on this forum there really isn't much, I singlehandedly can do to motivate POL's into having a better attitude.
Writing in the First Person,
Red R.
I thought Red had been hacked. Avoid that nasty 1st person. Let lesser men like me use it.
Oh, sometimes Red is hacked yet he quickly gets over it.
Trying to not be moody,
Red R.
@ChrisH821 said:
I get irritated when offered "75% of bid because I might have to sell to another dealer".
Retail buyers want to be able to buy at wholesale levels ("Why are you charging me more than your dealer buddies?"). Many dealers take the path of least resistance, use greysheet values as "retailish" pricing for their inventory and when offered coins by collectors, quote a price lower than greysheet. Because, of course, you can't buy and sell at the same price and stay in business and wholesale sales to other dealers are a thing.
edited to add... If you want to avoid the "75% of bid because I might have to sell to another dealer" situation, make sure you sell to a dealer who has retail customers for the coin you're selling.
While I don't think collectors need to be aware of Greysheet pricing, it certainly makes them smarter and more equipped collectors when they do. I've made a couple of my better pickups over the years because I was simply aware of the Greysheet bid pricing.
"Your mileage will vary" as they say, but I've caught 2 or 3 glaringly underpriced to bid cost stickers on coins in a dealer's case, and they seemed to be none the wiser in the moment when I then proceeded to ask them for their best price on it. Once I caught a deal when the dealer themselves were using a few months older edition of Greysheet to quote me a price, but I actually knew that coin since had a favorable price increase in the most recent edition on this particular date / grade.
I don't. We lost a lot of good people. Skip Fazzari, Roger Burdette, Laura. Even Mark Feld at one time.
Those first three named earned their fate, sometimes repeatedly for violating forum rules of behavior. I don’t miss them.
.
Well, I will play nice and put it this way:
I'm glad that Mark Feld is still here and I wouldn't mind if Skip Fazzari came back.
I'll leave it at that.
.
Lol.
Skip was my favorite of the 3 MIAs. But while I sometimes found Laura abrasive and often found Roger to be stubborn and condescending, they did spark interesting discussions and livened the place up.
All comments reflect the opinion of the author, even when irrefutably accurate.
Yes dealers can (not tear off obsolete price tags) and unfortunately for the dealer give something away. However my team is ahead of that -
What I do I have an inventory cost code. I used to put a retail price code on too but with current fast pace mkt may leave those off. Which leaves just cost plus in quoting prices or doing quick pricing review, update at my table. With CDN digital on phone seller can research quickly CPG / Bid). Then quote price.
Well that’s the risk of RCI. If buy something that tanks in mkt, then seller will probably have to take loss to move it or just take it off mkt until back in the green.
I had one coin series like that yrs ago. Could not sell in the green on those coins. Took them off mkt to sdb for awhile.
Discovered the currency mkt and the banknotes easily filled those areas on my table plus could be stacked! Good sales / profit on them too. Many beautiful Gem CU. Got to know some currency dealers who had neat stuff which made their share of yardage. As my profiency increased discovered National Banknotes (NBN). Then discovered the Kelly Book on NBN. Even setup with a friend from the coin club at a major currency show bidding at auction against all the major players in currency including Don C Kelly. Many of the notes I won (Large Size) performed big time for me down the road. Lost on many bids especially those guys deep pocket. On my wins -These were some low pop plus many Gem CU.
@lermish said:
I have been impatiently waiting for the definitive answer to this question. When will @Cougar1978 post to this thread?
Finally! As we all know, @Cougar1978 has cut straight to the heart of what is important to coin collectors without any tire kicking or shenanigans. Like a punt return touchdown, just had to call in the special teams.
@oldglorycoins said:
I know that most dealers swear by it when buying, and I'm curious what collector's think when dealers quote them 'bid', or a percentage of bid
To answer your question-
CDN Bid is a whosale parameter - reported by the CDN.
A dealer may quote walkup sellers 10- 20 pct behind CDN Bid or even less. Or offer full bid or slightly more. YMMV. This is influenced by current market conditions, where the coin is in the grade range, dealer inventory needs, sales potential, and budget.
At shows when I buy from this wholesaler (has a swanky shop in another city) he might want bid or slightly more. This is likely stuff that walked in the shop (or confidence level in retailing it soon low).
I have done well with his stuff, many instances sold it (retailed it) the same show. Gotta make that table fee lol.
@oldglorycoins said:
I know that most dealers swear by it when buying, and I'm curious what collector's think when dealers quote them 'bid', or a percentage of bid
To answer your question-
CDN Bid is a parameter -
A dealer may quote walkup sellers 10- 20 pct behind CDN Bid or even less. Or offer full bid or slightly more. YMMV. This is influenced by current market conditions, where the coin is in the grade range, dealer inventory needs, sales potential, and budget.
I think some Dealers are also motivated to quote pricing depending on the knowledge of the contact and how astute and savvy the seller is.
@oldglorycoins said:
I know that most dealers swear by it when buying, and I'm curious what collector's think when dealers quote them 'bid', or a percentage of bid
To answer your question-
CDN Bid is a parameter -
A dealer may quote walkup sellers 10- 20 pct behind CDN Bid or even less. Or offer full bid or slightly more. YMMV. This is influenced by current market conditions, where the coin is in the grade range, dealer inventory needs, sales potential, and budget.
I think some Dealers are also motivated to quote pricing depending on the knowledge of the contact and how astute and savvy the seller is.
Agree.
Reminds me of the time some years ago when I offered a nice AU early date walker to one of the bigger PNG dealers from the northeast. I could tell he was interested in it, but then he proceeded to pull out the Bluesheet. Before he even quoted a price from it, I scoffed and said that’s not going to work. He said Oh, filed it away, and pulled out the Gresheet. He then offered around Bid, which I accepted.
Greysheet bid is a good starting point, but it usually is understated in price. An exceptional coin will usually command more at auction. Sometimes, the GS prices have not caught up to the market and they don’t take into account ones that are super PQ and high-end for the grade.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
@Morgan13 said: @jmlanzaf thank you for the insight.
Ive seen dealers at the local shows use information out of a coin magazine that is given out at the show. Im not sure if its grey sheet or not.
Its such a tricky game selling to dealers. Classic scenario of buy low and sell high. Establishing relationships can be helpful. I find that most dealers will work with me from either end of the aisle. I have met a few who have the personality of a fish.
I have bought many coins at auctions like GC for instance to then mark them up for retail inventory, especially for shows. I study the CDN info on this material to have successful procurement acquisition.
@jmlanzaf said:
Greysheet pricing for mainstream key dates would be largely based on dealer bids on exchanges. Those would be fairly accurate. Where Greysheet, and most guides, fall short are on thinly traded material that doesn't have active wholesale bidding.
I've long wondered why they kept posting modern BU roll prices all those years. I had never seen a posted buy price on numerous modern rolls and many were so low that it was impossible to ship. I know there were some trading hands mostly related to a search for varieties and Gems but every time (rarely) I looked at a roll or two of these there was never anything remarkable.
The existence of the listing might lead some to believe there was a thinly traded market for all modern BU rolls, but any market was confined to classified ads in the back of Coin World and Numismatic News. The existence of this "market" was chiefly dependent on the extremely low cost of classified ads and was constrained by postage costs.
The lack of existence of a market until recently is the result of a lack of demand. Now the chief threat is a virtual vacuum of supply. How can speculators pay far too much for common chBU rolls like '72-D quarters if they can't actually find any '72-D quarters? How do dealers get into a market without supply? Oh the humanity!
Comments
Yes, they did. But we lost a lot of interesting discussions when we lost them.
All comments reflect the opinion of the author, even when irrefutably accurate.
2034
All comments reflect the opinion of the author, even when irrefutably accurate.
My dealer usually gives me grey sheet pricing, I love it, hence why I rarely buy on ebay or auctions.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
@Cougar1978 is busy formulating his well thought-out response, followed by his edit(s). Give him time.
Snap. Crackle. Pop.
Interesting, but rude behavior. No excuse. Bye!
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
I get irritated when offered "75% of bid because I might have to sell to another dealer". Your inability to sell above wholesale should not be my punishment.
Otherwise, I guess it's fine?... debating if my subscription is worth the cost, and the app is horribly formatted, IMO.
Collector, occasional seller
You don't stay in business if you buy coins you can't sell. They could just no bid, but that doesn't help either one of you.
All comments reflect the opinion of the author, even when irrefutably accurate.
Red thinks @Catbert is, ironically, demonstrating rude behavior with his post.
Not exceedingly surprised,
Red R.
Snap. Crackle. Pop.
Collectors prefer I use the Red Book. Some insist.
``https://ebay.us/m/KxolR5
That is when you pull out a 1947 First Edition.
Easy Profit,
Red R.
Snap. Crackle. Pop.
RedRocket moves to Catbert's ignore list.
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
This forum is often one big mirror held up to individual's behaviors.
All comments reflect the opinion of the author, even when irrefutably accurate.
Nah it's just a message board.
.
The mirror shines pretty bright on the two of you Joe. You and Red should grab a private room.
just don't tell us about it.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Although often mistaken as the Peace Maker on this forum there really isn't much, I singlehandedly can do to motivate POL's into having a better attitude.
Writing in the First Person,
Red R.
Snap. Crackle. Pop.
I thought you had Joe and Red on ignore?
Joe and Red are having fun. Joe and Red like to share the fun. Expect to see Joe and Red on every thread on the forum, just hanging out and having some F-U-N!
All comments reflect the opinion of the author, even when irrefutably accurate.
I thought Red had been hacked. Avoid that nasty 1st person. Let lesser men like me use it.
All comments reflect the opinion of the author, even when irrefutably accurate.
Oh, sometimes Red is hacked yet he quickly gets over it.
Trying to not be moody,
Red R.
Snap. Crackle. Pop.
Nope, never said that Joe. Should maybe, but haven't, yet.
.
And frankly, I probably have a lot more fun here, and in the real world, than keyboard warrior wannabe's like the two of you.
But hey, have fun with all that.
Wish you both (or is it just you?) the best.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Retail buyers want to be able to buy at wholesale levels ("Why are you charging me more than your dealer buddies?"). Many dealers take the path of least resistance, use greysheet values as "retailish" pricing for their inventory and when offered coins by collectors, quote a price lower than greysheet. Because, of course, you can't buy and sell at the same price and stay in business and wholesale sales to other dealers are a thing.
edited to add... If you want to avoid the "75% of bid because I might have to sell to another dealer" situation, make sure you sell to a dealer who has retail customers for the coin you're selling.
No.
Yes.
No.
Thank you.
All comments reflect the opinion of the author, even when irrefutably accurate.
.
Well, I will play nice and put it this way:
I'm glad that Mark Feld is still here and I wouldn't mind if Skip Fazzari came back.
I'll leave it at that.
.
While I don't think collectors need to be aware of Greysheet pricing, it certainly makes them smarter and more equipped collectors when they do. I've made a couple of my better pickups over the years because I was simply aware of the Greysheet bid pricing.
"Your mileage will vary" as they say, but I've caught 2 or 3 glaringly underpriced to bid cost stickers on coins in a dealer's case, and they seemed to be none the wiser in the moment when I then proceeded to ask them for their best price on it. Once I caught a deal when the dealer themselves were using a few months older edition of Greysheet to quote me a price, but I actually knew that coin since had a favorable price increase in the most recent edition on this particular date / grade.
CDN is super data resource. Always researching CDN for bid or CPG.
Frankly I encounter a lot of players in the dark on that. Suggest get an online subscription which shows CPG and CDN Bid.
CDN CPG is a price based on CDN bid.
Lol.
Skip was my favorite of the 3 MIAs. But while I sometimes found Laura abrasive and often found Roger to be stubborn and condescending, they did spark interesting discussions and livened the place up.
All comments reflect the opinion of the author, even when irrefutably accurate.
Yes dealers can (not tear off obsolete price tags) and unfortunately for the dealer give something away. However my team is ahead of that -
What I do I have an inventory cost code. I used to put a retail price code on too but with current fast pace mkt may leave those off. Which leaves just cost plus in quoting prices or doing quick pricing review, update at my table. With CDN digital on phone seller can research quickly CPG / Bid). Then quote price.
What if stuffed in the backfield? What then?
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
Well that’s the risk of RCI. If buy something that tanks in mkt, then seller will probably have to take loss to move it or just take it off mkt until back in the green.
I had one coin series like that yrs ago. Could not sell in the green on those coins. Took them off mkt to sdb for awhile.
Discovered the currency mkt and the banknotes easily filled those areas on my table plus could be stacked! Good sales / profit on them too. Many beautiful Gem CU. Got to know some currency dealers who had neat stuff which made their share of yardage. As my profiency increased discovered National Banknotes (NBN). Then discovered the Kelly Book on NBN. Even setup with a friend from the coin club at a major currency show bidding at auction against all the major players in currency including Don C Kelly. Many of the notes I won (Large Size) performed big time for me down the road. Lost on many bids especially those guys deep pocket. On my wins -These were some low pop plus many Gem CU.
Finally! As we all know, @Cougar1978 has cut straight to the heart of what is important to coin collectors without any tire kicking or shenanigans. Like a punt return touchdown, just had to call in the special teams.
chopmarkedtradedollars.com
Well in that case you got thrown for a loss lol.
Just pick yourself up and get back in the game. Go back to the drawing board…many banked big time with the big silver run up. Will it go way up again?
To answer your question-
CDN Bid is a whosale parameter - reported by the CDN.
A dealer may quote walkup sellers 10- 20 pct behind CDN Bid or even less. Or offer full bid or slightly more. YMMV. This is influenced by current market conditions, where the coin is in the grade range, dealer inventory needs, sales potential, and budget.
At shows when I buy from this wholesaler (has a swanky shop in another city) he might want bid or slightly more. This is likely stuff that walked in the shop (or confidence level in retailing it soon low).
I have done well with his stuff, many instances sold it (retailed it) the same show. Gotta make that table fee lol.
I think some Dealers are also motivated to quote pricing depending on the knowledge of the contact and how astute and savvy the seller is.
Snap. Crackle. Pop.
Yes if the dealer familiar with the contact / customer.
Agree.
Reminds me of the time some years ago when I offered a nice AU early date walker to one of the bigger PNG dealers from the northeast. I could tell he was interested in it, but then he proceeded to pull out the Bluesheet. Before he even quoted a price from it, I scoffed and said that’s not going to work. He said Oh, filed it away, and pulled out the Gresheet. He then offered around Bid, which I accepted.
Greysheet bid is a good starting point, but it usually is understated in price. An exceptional coin will usually command more at auction. Sometimes, the GS prices have not caught up to the market and they don’t take into account ones that are super PQ and high-end for the grade.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Do they have fishwives?
I have bought many coins at auctions like GC for instance to then mark them up for retail inventory, especially for shows. I study the CDN info on this material to have successful procurement acquisition.
GS bid is the foundation for CPG retail pricing.
I've long wondered why they kept posting modern BU roll prices all those years. I had never seen a posted buy price on numerous modern rolls and many were so low that it was impossible to ship. I know there were some trading hands mostly related to a search for varieties and Gems but every time (rarely) I looked at a roll or two of these there was never anything remarkable.
The existence of the listing might lead some to believe there was a thinly traded market for all modern BU rolls, but any market was confined to classified ads in the back of Coin World and Numismatic News. The existence of this "market" was chiefly dependent on the extremely low cost of classified ads and was constrained by postage costs.
The lack of existence of a market until recently is the result of a lack of demand. Now the chief threat is a virtual vacuum of supply. How can speculators pay far too much for common chBU rolls like '72-D quarters if they can't actually find any '72-D quarters? How do dealers get into a market without supply? Oh the humanity!