Looking at Flying Eagles for example, the Greysheet for an 1857 in VF is $40 (bid). PCGS Photograde has a VF20, VF25, VF30, and VF35. Which PCGS grade corresponds to the Greysheet estimate?
I wouldn't pay to much attention to grey sheets. They are not for collectors, and are very vague in pricing as you have just noticed. Just look at completed auctions. Grey sheet pricing isn't very accurate
Read the front and page of the greysheet. "Prices are dealer to dealer wholesale prices" now are you doing wholesale?. Pcgs "photo grade" doesn't give prices to my knowledge.Pcgs price guide does. Which is retail prices. There is no set pricing as every coin within its grade have something to increase or decrease its worth
It says the prices are for full grade coins. Not sure if that just refers to them being problem free or if that means VF35 for VF, XF45 for XF and AU58 for AU. It is a dealer to dealer reference only although lots of dealers use it like a bible from what I've seen. That can be good and bad. If you are selling a Large Cent that is R3 the grey sheet may show it as $225 but when slabbed with rarity you may get double the grey sheet if you know what you have and can articulate it. If you don't know what you have you might just get $225. Not that they are trying to rip you off, but they too may not know the rarity until researched later. PCGS price guide is usually pretty over inflated from what I've seen. It is for PCGS slabbed coins only, not raws. When I try to determine a price I usually look at the greysheet, PCGS guide, Heritage Auctions history and Ebay history(this gets my lowest consideration). I use it to make buying and selling decisions. I am not a dealer but I do often trade with dealers and this gives me a good reference. So, are you buying or selling?
On the contrary, it is accurate, for what it is. The Grey sheet is what the entire coin market is based on. Yup, that's what it says. But do you realize that you, a collector, can usually buy any coin listed in Greysheet for the price that is listed in Greysheet ? There are many, many, dealers who sell coins at Greysheet prices to collectors, especially at coin shows. And even those who don't, will usually sell for Ask plus 10%. Of course, as a collector, you can also participate on the electronic dealer networks and buy coins at Ask all day long if you want to. All you have to do is pay your annual fees the same way the dealers do. Quite true, I readily agree there is always a price range for coins that are low for the grade, high for the grade, or average for the grade. But Greysheet also says that its prices are for "good for the grade coins", meaning average for the grade.
I use the grey sheet and buy a current copy before any show I go to a show. The prices for the grades are for the the lowest assigned grade is that group. Grey sheet uses VF 20, AU is for AU-50 and so on. Same way for pricing if using retail pricing from Coin World, PCGS, NGC or other pubulcations. These are good referances to have with you at a coin show, plus the red book to cover all other items.
As a collector, I often use grey sheet to determine prices. The shows I buy at, dealers sell at grey sheet prices as well. That includes both raw and certified coins.
Greysheet is a great reference. When I set up at local shows, I generally sell coins at 90%-100% of Greysheet Bid. I usually have a lot of happy collectors and dealers. On problem coins, let's say an AU Large Cent with a cleaning, I'd charge about 90% of XF Bid. Some dealers are happy to get greysheet bid, or less, for certain coins. Beware of items like 1921 Peace Dollars, 1932 D & S Washington Quarters, 1931 S Lincons and other "semi key" coins that rarely bring Greysheet Bid (and are in my opinion overvalued). Some items like better date seated, bust, and early copper items are worth multiples of the greysheet at times as well. Hope that helps.
Interesting that you would mention that coin. It's low on my list, but it's there. Greysheet has it at $55 for G and $60 for VG. You think I should be able to find it for less, and if so, how much?
