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Originally Posted by mcgrover 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.
mike |
No, Mike I'm avoiding it at all. It's just a different subject. But since you brought it up - you are quite correct. There are plenty of unscrupulous dealers out there who will pay collectors less for coins than they should. And every single time that I hear someone tell a story like that - I recommend that they find another dealer.
But if a dealer is offering a collector Greysheet bid for a coin - that is a very fair price and even better than the industry standard. Most reputable dealers will typically offer only 15% - 20%
less than Greysheet bid. That
is the industry standard.
Yes I know that many collectors feel that this is unfair and that dealers should offer more - but they don't and that is to be expected. That is the way that the coin market works and always has. The biggest problem is that many collectors don't know this because they seldom sell anything. So when they do they often feel like they are getting ripped off because they receive less than retail value. But they aren't - they are being offered fair prices. I've been on the selling end before and I can tell you that 15% below Greysheet bid is about as good an offer as you will get - from any dealer. If they paid more than Greysheet - they'd go out of business - very quickly. And before you ask, no I am not a dealer - never have been and never will be.
