What % of Greysheet bid do dealers typically offer?

RAISETOWIN · February 11, 2008 4:11AM

What % of Greysheet bid do dealers typically offer? Also do dealers vary there % of bid offer based on there personal opinion of what they feel the demand is or perhaps how easy they can sell that particular coin, set, roll, etc... or do they stick to a certain % for all coins.

Steve27 · February 11, 2008 4:16AM

They usually offer 10-20% back of bid for a coin they want (i.e. something for which there is large demand). Of course there are always the dealers who will tell you that the PCGS coin you want to sell is over-graded and they can't give you anywhere near bid.

RAISETOWIN · February 11, 2008 4:26AM

So when you are negotiating with a dealer your basis should be primarily on the greysheet right? Not PCGS.

USAFRETWI · February 11, 2008 4:26AM

Try to buy at Greysheet there's the challange.

wayneherndon · February 11, 2008 4:29AM

Again, this depends on what you're offering or buying. There are some things I would pay 50% of greysheet for and it's not unusual for me to find one or two pieces at every major show that I pay 3x greysheet or more for. For commodity type items, this will give you some idea what you could expect from a dealer.

Thanks,

WH

BECOKA · February 11, 2008 4:30AM

I sold a coin for PCGS pricing to a dealer at the last Santa Clara Coins Show.

Although it was a high enough grade that it did not appear on greysheet.

RAISETOWIN · February 11, 2008 4:34AM

<< <i>Try to buy at Greysheet there's the challange. >>

So your saying they bid below what greysheet says and sell higher?

Smittys · February 11, 2008 4:34AM

I just payed 5% back of bid on a 10K collection
But it all depends on what you're buying

BigRed · February 11, 2008 4:35AM

There are also the coins that greysheet is way off on like a thread the other day was talking about better date Barber halves going for way over greysheet. I know I tryed to buy a 1887 half in EF condition the other day and they wanted over double greysheet .

WTCG · February 11, 2008 4:35AM

It depends on several factors. If the coin is something that the dealer needs or wants then they'll often pay Greysheet bid or higher. If the coin is not needed and would be purchased for inventory stock then their offer would be back of Greysheet bid. If the coin is considered unattractive or difficult to sell then a price around Bluesheet bid or slightly back of Bluesheet bid would be an appropriate number. Actually the for the very unattractive coins the Bluesheet bids are often rather generous, so a number back of the current CCE sight-unseen bid would probably be an even better option.

Unfortunately most of the coins that "walk up" to dealers at a coin show fall into the last two categories. It's usually not because of any "game" the dealer is trying to play with the seller, but it's just how most of the coins that are offered for sale are.

wayneherndon · February 11, 2008 4:37AM

There's plenty of material available to collectors at greysheet. Buying a greysheet is not hard. The hard part is buying quality material at greysheet. That's sort of like a new car dealer having a half off sale. It just doesn't happen. Enough people recognize quality that it virtually always sells for more whether you're a dealer or a collector.

WH

droopyd · February 11, 2008 4:37AM

<< <i>For commodity type items, this will give you some idea what you could expect from a dealer. >>

Wow... wheat cents for 3 cents a pop is the wholesale buy price these days?

wayneherndon · February 11, 2008 4:39AM

Wow... wheat cents for 3 cents a pop is the wholesale buy price these days?

Yep. Or 3.5 cents if you have 'em by the bag of 5000.

WH

DaveG · February 11, 2008 4:39AM

I'd say that a lot of dealers will base their offers on Grey Sheet (which is, after all, a wholesale price guide) and not PCGS or Coin Values or any other retail price guide.

They might also consult the Blue Sheet (sight-unseen wholesale price guide) to see what their minimum price might be if they have to sell the coin to a larger wholesale dealer instead of their retail customer base.

The exact percentage a dealer might offer will depend on the demand for the particular coin and how quickly/easily the dealer thinks he can sell it.

You might consult eBay or Heritage's auction archives (depending on the coin) for recent prices, too.

sinin1 · February 11, 2008 4:41AM

yes

dealers make money by buying for less than selling (that is there goal)

so if you have something that they will not be able to sell, they will offer less
if they have a customer that wants want you have (and will take it tomorrow), they offer more

if it is something in their area of expertise, they can tell the difference between cream and crap
they pay more for cream

Deadhorse · February 11, 2008 4:43AM

I guess I'm lucky.

My favorite B&M buys at bid and often sells at ask, at least to regular customers.

I've seen him buy at bid from new customers on a regular basis.

It does depend somewhat on the coin(s) in question.

Still, in general, he sticks to bid/ask nearly all the time with regular visitors.

It's probably why they have so many loyal customers.

RAISETOWIN · February 11, 2008 4:44AM

Very helpfull guys. thanks a bunch.

WTCG · February 11, 2008 4:47AM

<< <i>There's plenty of material available to collectors at greysheet. Buying a greysheet is not hard. The hard part is buying quality material at greysheet. That's sort of like a new car dealer having a half off sale. It just doesn't happen. Enough people recognize quality that it virtually always sells for more whether you're a dealer or a collector.

WH >>

In agreement with Wayne, there are plenty of coins that non-dealers can buy for less than Greysheet bid. It doesn't mean that the coins are ugly, but the chances are that the coins are fairly common dates and examples of the type. I often sell very desirable coins at prices that are back of current Greysheet bid, but with a few exceptions just don't expect key date coins to be offered at those levels.

BECOKA · February 11, 2008 4:47AM

<< <i>It depends on several factors. If the coin is something that the dealer needs or wants then they'll often pay Greysheet bid or higher. If the coin is not needed and would be purchased for inventory stock then their offer would be back of Greysheet bid. If the coin is considered unattractive or difficult to sell then a price around Bluesheet bid or slightly back of Bluesheet bid would be an appropriate number. Actually the for the very unattractive coins the Bluesheet bids are often rather generous, so a number back of the current CCE sight-unseen bid would probably be an even better option.

Unfortunately most of the coins that "walk up" to dealers at a coin show fall into the last two categories. It's usually not because of any "game" the dealer is trying to play with the seller, but it's just how most of the coins that are offered for sale are. >>

This is probably one of the best answers I have seen. Most dealers don't try and cheat you. If they offer lower prices it's because they will have to hold the coin for a longer period of time.

USAFRETWI · February 11, 2008 4:57AM

My favorite is when a dealer buys at more than 20 % back of bid and then sells the same coin at high retail...prices out of a magazine. Guy was in the B & M here locally and the dealer lowballed him on a certified Peace Dollar (was a MS-65) gave him 64 price and then it was in the case next time I went in for more than a 65 was worth. I understand a dealer has to stay in business and make a profit but that's bad business. Safe to say I dont deal with him anymore after seeing that.

What % of Greysheet bid do dealers typically offer?

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