Looking at a Greysheet. Bid what dealer (will, might, should) pay and ask means what dealer (will, might, should) sell for? Correct? Thanks, Linda
Bid is what most dealers sell at....or buy at....what the BID and ASK is for is is for people buying and selling...they say to buy at BID and sell at ASK....but most of the time you can get coins for BID or maybe 15% less... Speedy
Most dealers sell at bid and buy 20% back of bid. If you have something that will sell fast, they might pay more. If you have something that will sit in inventory for a while, they will probably pay a lot less. Charlie
Greysheets are used by honest dealers. (well most) I have met several dealers who buy at LAP. (Least as possible) and sell at WTCG (whatever they can get). Charlie is pretty accurate in his responce. The prices most dealers pay is based on perception as well. I have done a few trivial experiments in this area and have found that a 28 yr old blond woman will get more for a proof set then a 44 year old man. : ) So prices are variable.
Correct, but it doesn't always work out that way. First of all the Grey Sheet lists the price for a given coin that one dealer is willing to pay, or sell that coin to another dealer. The Grey Sheet has absolutely nothing to do with a dealer will charge a collector for a a given coin or what they will pay a collector for a given coin. The Grey Sheet lists wholesale prices - not retail prices. That being said, not all dealers even use the Grey Sheet. And some of those that do use it, will sell coins to collectors at the Bid price - others will not. It all depends on the individual dealer. You can contact 10 different dealers looking to buy a given coin and get 10 different prices. You can do the same thing when trying to sell coins to dealers. Bottom line, there are no hard and fast rules - even the Grey Sheet is only a guide.
