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Whatever prices knowledgeable buyers and sellers buy and sell to each (e.g. many dealer to dealer transactions ), you are avoiding addressing what dealers pay to those sellers "who don't know any better" for their coins, which is as low as they can possibly pay, and then take it or leave it, with no give above greysheet. "Every now and then a dealer will sell coins to a collector at greysheet prices" is the exception that proves the rule - they buy at greysheet and sell higher. I know Heritage claims that they would rather "wholesale" to their customers than other dealers, so they offer a Make an Offer option available, for dated inventory . I have no problems with Heritage, with whom I've spent good money for good product, and some other online dealers. But I do have a problems selling to local B&M dealers 1999 silver proof sets for $200, refusing to go to $220, because their piece of the pie would not be big enough; or who routinely offer MS60 prices for raw Unc. coins without making the effort to offer pro grading on which to base fair value. Sure they need to pay the rent, but because sellers or buyers are unknowledgeable, does not mean the knowledgeable party gets carteblanche to take advantage of their superior position. I haven't seen a greysheet for a while, but last I looked, retail prices were more than 10% to 20% above greysheet, the price you seem to indicate smart, experienced collectors pay. And it' s my experience these local dealers I know build in a 50% (or 100% depending how one computes it) markup. This is a very limited view of how to prosper in business, the short view, and ebay, and other larger online dealers are the beneficiaries of this shortsightedness. regards. mike
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