Coin Price Lists

Discussion in 'US Coins Forum' started by centsdimes, May 31, 2015.

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  1. centsdimes

    centsdimes Active Member

    I've been told that Coin World and the Red Book are the two most reliable price lists. Would you people agree?
     
    centsdimes, May 31, 2015
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  3. rickmp

    rickmp Frequently flatulent.

    You've been lied to.
     
    rickmp, May 31, 2015
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  4. GDJMSP

    GDJMSP Numismatist Moderator

    You have indeed.

    There are no "reliable" price lists. The thing that comes closest to being one is called the Grey Sheet. But even that has its limitations. That is because no 2 coins are the same, even if they are the same grade and graded by the same TPG. Every coin is unique and typically every coin will sell for a different price depending on the attributes, or lack of them, of that specific coin.

    So about the best you can do is to pin down a price range for any given coin. And that price range may vary by as much as 100%, and sometimes even more.
     
    GDJMSP, May 31, 2015
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  5. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Most profitable, but not most credible.

    For very common coins, the majority of price guides are probably pretty reliable, but there's no short cut to reliable pricing for the uncommon ones. With all coins being different, and the market so dynamic, the most reliable price list one can come up with will be your own, based on personal experience, observation and research.
     
    Last edited: May 31, 2015
    ToughCOINS, May 31, 2015
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  6. centsdimes

    centsdimes Active Member

    Can you tell me more about the Grey Sheet?
     
    centsdimes, May 31, 2015
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  7. centsdimes

    centsdimes Active Member

    I've got a lot of coins and limited experience. For me, a published price list comes in very handy.
     
    centsdimes, May 31, 2015
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  8. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    http://www.greysheet.com/

    The Grey Sheet is a dealer-to-dealer compilation of wholesale prices for many (but not all) US coins with bid and ask prices.

    Chris
     
    cpm9ball, May 31, 2015
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  9. rickmp

    rickmp Frequently flatulent.

    rickmp, May 31, 2015
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  10. centsdimes

    centsdimes Active Member

    I think, though, that my dealer uses Coin World to price his coins. When I asked him about the prices on a couple of his coins, he brought out Coin World to show me.
     
    centsdimes, May 31, 2015
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  11. Burton Strauss III

    Burton Strauss III Brother can you spare a trime? Supporter

    Sure, because CoinWorld shows high RETAIL prices, he uses that to justify his prices.

    Greysheet shows dealer-to-dealer (wholesale) prices - both bid and ask.

    Theoretically, Greysheet bid is what the buying dealer offers and ask is what the selling dealer asks for and the real transaction is in the middle based on the coin.

    Practically, since any schmoe like me can by the occasional copy for 13$, what happens is this:

    (especially at coin shows) Greysheet bid has become the go to #, with up/down adjustments for spectacularly good or bad coins.

    So you'll hear dealers talking about 10% back of [Greysheet] bid. Meaning they will buy it from another dealer for 10% less than Greysheet bid and sell it to you over the table at bid (see what a deal you are getting, ask is $220, for you $195).

    And if it gets to the store, they will price it at ask or a little more.
     
    Burton Strauss III, May 31, 2015
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  12. Copper56

    Copper56 Active Member

    The 'Red Book' is just what it says, A "Guide" Book. Its useful as a quick reference for mintage, and in some cases, price acceleration per grade. Of course you must be realistically able to grade.
    The Coin World 'Trends' is only a last ditch go to. IMO
    Monthly printed guides giving prices are also just guides, however, I've found the price guide that says simply "Coins" (U.S. Coin Prices) is the one that closely follows "GraySheet". (don't argue to much guys. nothing is always perfect, but in some cases "Coins" gives less value than GS.) I sampled the all. It also gives mintage.
    One thing to remember is that daily trends are just that, daily. All monthly guides are already a month old when you buy them.
    And the "Red Book" holds last 'years' trends.
    I guess it comes down to.. are you a collector, a seller or investor? Or, just checking us out? lol
     
    Copper56, May 31, 2015
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  13. Burton Strauss III

    Burton Strauss III Brother can you spare a trime? Supporter

    True - don't sell the Red Book short as an incredible information resource. Quick, what year did they switch from Type 2 to Type 3 3 Cent Silvers. Red Book answers in seconds.

    Just don't trust it for pricing - at best the 2015 prices were retail in mid 2014 (last July, August, etc.) so the book could be in stores for the 2014 Holiday season.
     
    Burton Strauss III, May 31, 2015
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  14. Dancing Fire

    Dancing Fire Junior Member

    :stop:..Will he buy my coins at 20% back of coin world price?:woot:
     
    Dancing Fire, Jun 1, 2015
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  15. Dancing Fire

    Dancing Fire Junior Member

    Yup! for many yrs now.
     
    Dancing Fire, Jun 1, 2015
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  16. rlm's cents

    rlm's cents Numismatist

    I just came from the TNA coin show. Not a single dealer pulled out the greysheet. Everyone I dealt with pulled out their phones and looked up the latest auction prices.
     
    rlm's cents, Jun 1, 2015
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  17. charlietig

    charlietig Well-Known Member

    I noticed the same thing at this years' N.O.W. Coin Show, some pulled out GreySheet, others went to Ebay
     
    charlietig, Jun 1, 2015
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  18. Burton Strauss III

    Burton Strauss III Brother can you spare a trime? Supporter

    Weird.... I was there for two days and everybody I dealt with uaed GreySheet
     
    Burton Strauss III, Jun 1, 2015
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  19. centsdimes

    centsdimes Active Member

    You have to be a dealer to get the grey sheet, don't you?

    Well, I just got the answer to my question in another thread.
     
    centsdimes, Jun 6, 2015
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  20. Burton Strauss III

    Burton Strauss III Brother can you spare a trime? Supporter

    No... they sell the GreySheet to anyone
     
    Burton Strauss III, Jun 7, 2015
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  21. GDJMSP

    GDJMSP Numismatist Moderator

    Just curious, do you know what auction venue it was they were looking the prices up on ? eg: Heritage, ebay, some other ?

    Sometimes, stress sometimes, there is a reason that given dealer will use this or that for his pricing info. To find out what that reason is it is often helpful for potential buyers to check source info themselves, before going to a show. For instance, look up prices on ebay, on Heritage, and in the Grey Sheet, and compare them to each other.

    Knowing that information can tell you a lot about the person you are buying the coins from.
     
    GDJMSP, Jun 7, 2015
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