A Question About The Greysheet

Tiny · January 22, 2009 9:00PM

I was told this yesterday and was wondering if this statment is correct?

" greysheet bid is for '"raw" coins "

It was made as to reference about a price for a Third Party graded coin.
I had all ways thought that the Greysheet was pretty much the rule on
the buyinig and selling of coins among collectors and or dealers, even if
it does not list TPGs like the Bluesheet does.

Thanks In Advance
Tiny

abitofthisabitofthat · January 22, 2009 9:17PM

Although grey sheet is supposed to be for any correctly graded coin, It really depends on the series, IMO. Generic Morgan dollars in any holder will trade around the sheet unless they are special (toners, etc). Early copper, on the other hand, would generally trade at a premium to sheet in top tier plastic (especially pcgs). Most early copper has some minor issues that would keep it out of a holder.

As a specific example, 1811 half cents are generally struck on rather poor planchets and have porosity issues. Most will not slab at pcgs. The few that would will trade at a premium.

On the other side, you will likely have a hard time getting greysheet money for certain raw coins, and the sheets tend to reflect slabbed prices. Proof type would be an example. It would be hard to sell "Proof 64" Seated Dimes at greysheet if they were raw. Many people feel that if a $500 or $1000 dollar coin is raw, it must have issues and do not want to pay up for expensive raw coins.

Also, grading costs money, so most people selling graded coins need to recoup the grading fees in addition to the value of the coin.

jdimmick · January 22, 2009 10:01PM

The prices in the greysheet although not accurate (high and or low ) depending on the coin series/date/type etc is based on an accurate graded sight seen coin, whether its holdered or raw.

greghansen · January 22, 2009 10:27PM

FINALLY....a thread where my disturbing habits developed as a lawyer pay off! If you read the 'fine print' at the bottom of the first page of the weekley Greysheet the first two sentences read as follows:

"The weekly Coin Dealer newsletter (the Greysheet) reports the national Dealer-to-Dealer wholesale coin market, monitoring all possible transactions and offers to buy and sell coins sight-seen. The coins may be certified or "raw" (uncertfified), but the grading Must adhere to the current leading standard.

So the publishers, at least, would disagree with the statment made to you about it being limited to raw coins.

A Question About The Greysheet

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