The CDN monthly publication

I noticed with the January issue that the ASK price is no longer showing . Does anyone have any info on that ?

 

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Since everyone was using bid as the ask nd some percent below bid as the bid, they gave up on the fiction.

 

It was determined by the new owners of the CDN Publication the Ask was would be removed to allow more room for Extended MS Numbers to be displayed. General thinking was the Ask pricing would be removed since they were not as important to Dealers as listing the extended MS pricing. To this date the new owners were attempting to give more accurate pricing as the Market had shown. Changes to the CDN are changing the older style format to reflect Market needs.

 

Certainly do hope they really watch price trends and publish accordingly. I'm reserving opinion/judgment regarding the Military Payment Certificate prices.

 

Thanks so much for the info there . For the small time collector , bout the best we can do is MS 64 . Darned if the didn't take that out . You can find the grades in other publications but .........

 

And don't forget auction results.
Probably the most accurate measure.

 

Kanga, totally agree...if I am looking for a particular coin, especially a semi key or key date, I will start a database and track that coin. I waited 6 months for the right auction on a '37D 3 leg Buffalo and got a nice AU50 for 683.00

 

I agree that ASK is not needed. When have you heard someone say "How much is Greysheet ASK? It's always Greysheet BID.

 

Even based on CDN that was a great price.

 

You see all kinds - several dealers I know are more digitally active and they use the dealer to dealer network tools, auction prices, etc. to price the higher valued stuff (HV can be as low as $200 and close to real time depending on how facile the dealer with the tools).
I still see a couple dealers using Coin World or another magazine and then graciously offering a discount from that.

But for dealers who use greysheet etc., from discussions at the last couple local shows I would say the following, contradictory statements are 'true'...

• Everybody knew the prices on thinly traded series were garbage, they hadn't be adjusted (properly, by more than fixed %s) in years
• Everybody knew the prices on the common stuff reflected 'pet' and 'favored' dealers not the real world
• As I said above, real sales had moved to sell at bid, buy 10% or 15% back of bid
• It was the only game so everybody played it

• CDN is now doing a slow dance to bring prices into line with reality
  • A few series at a time
  • People are noticing both the 'increase' in value AND the decrease
  • People are watching nervously
  • There is a long way to go

Take my pet coin - 1871 3cs XF40 (business strike). This is a classic thinly traded coin (but not never traded) with a small population (and small demand).

• PCGS 1@40, 4@45
• NGC 1@40, 3@45
• ANACS is down
• ICG has none

The last graysheet I have (August 2015) has 425 bid, 465 ask.

PCGS has it at 690 in 40, 700 in 45 (unchanged since April 2013).

NGC has it in "XF" at 650 up from 625 last May (2015).

https://www.ngccoin.com/price-guide...-20/1871-3cs-ms-XF-price-history-coinid-13692

Last auction prices...

1/11/2016 XF 45 NGC Heritage Auctions 2016 January 6 - 11 FUN US Coins Signature Auction - Tampa Session(7), 1231/Lot#7347 $940.00
3/1/2015 XF 45 PCGS Heritage Auctions 2015 February 26 - March 1 PNG Dallas Invitational US Coins Signature Auction - Dallas Session(4), 1218/Lot#7150 $1,145.63

Ignoring the GC auctions which I think were non-sales (same lot#, same price, weeks apart and no record of sales at GC)

two older auctions show clearly the NGC price is and has been bunk for a long time:

3/24/2013 XF 45 NGC Heritage Auctions 2013 March 21 -22 & 24 US Coin Signature Auction - Dallas Session(4), 1183/Lot#7237 $940.00
7/10/2011 XF 40 NGC Heritage Auctions 2011 July Orlando Summer FUN Signature US Coin Auction Session(4), 1157/Lot#7446 $1,092.50

So what's the price?

 

Oh, and while I'm throwing data, NumisMedia has it at $620 in XF40 up from 570 in January 2015 and January 2014

http://www.numismedia.com/cgi-bin/c...&nmcode=11112500&guide=prices&guide2=pricesms

 

That's a good idea . Thanks .

 

They should get rid of the state quarter roll, Prez $1 and Sacagawea columns.Why waste paper and space listing face value coins?..

 

@bobc1 Thanks for opening this thread as it gives me an opportunity to address this. We have generally been removing the "ask" price in all of our publications for a few reasons:

1. the historic "ask" price was almost always around 10% over "bid". Not much science to that, and not really accurate either.
2. The #1 complaint we heard when taking over CDN was the type face was too small to read in many places. The only way to increase the type size without removing entire sections of pricing, or changing to a wide format, was to remove the ask prices. I've gotten a lot of great feedback on this change.
3. At CDN, we think that "ask" pricing might be better served in a different sheet, or made available to other vendors who are more suited to retail pricing. CDN is primarily for dealers, or those who wish to know what dealers pay for coins. The February Monthly Supplement article is devoted to this topic (mailing next week).

@Burton Strauss III Thank you for highlighting the pricing issues with the 1871 3cS. We will review this prior to publishing the February issues. We always appreciate feedback and suggestions on where we can improve the prices.

@Dancing Fire Not sure getting rid of this page is a good idea. While the prices seldom change, there is a constituency for all the sections of the CDN sheets, and I suspect a lot of folks would be up in arms if we removed the State quarters page.

 

Appreciate it John, however, it's an issue with ALL of the 3cs business strikes from 1863 onwards. Not just the 71s. And it doesn't help that I'm confusing 1870s with 1871s!

 

Thanks. We have reviewed the entire series (and 3-cent nickels) so you will see extensive price changes for both in the February Monthly Supplement.

 

Thanks!

Of course that means I'll have to buy a copy (demand stimulation) and good news/bad news ... the ones I already own are more valuable and the ones I need are going to cost me more ...

 

OK to show my ignorance, taking the 3 centers above for an example, the three XF45's averaged $1,008.00 at auctions. So what would be an appropriate graysheet "bid" price? I thought graysheet was intended to be largely about dealer to dealer transactions and/or dealer buy prices?

 

Well , first of all , thank you for taking the time to address my concerns .Folks like me that attend 4-5 shows a year generally use the ask price as a guide when trying to buy coins from dealers , both at shows and Coin Shops or stores . I rarely can buy at bid but know enough dealers that buying at buy is never much of a problem . I am a collector of 51 years and buy mostly 20th century coins , love Morgan's , Walkers , Standing Lib Quarters and Buffalo nickels . I purchase both them CDN and Monthly Supplement 3-4 times a year and enjoy it . Even though I'm not a dealer , I still use the publications as my major tool at shows and when shopping for coins .
As with most other changes , I suppose I'll get used to them and go from there. One other change that probably no one likes is the change in prices , especially on the Monthly Supplement to $ 12 bucks . Seems sorta high to me .
This is my feedback for you and hope things go well for you .
Robert M. Chafin Jr