Overdepending on the graysheet

When I bought this, the price was well over full-blown MS-63 retail, but I talked the dealer down to MS-63 retail. I don’t know how much over greysheet it was, but it was probably significant.

 

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That is an impressively clean strike with such a major die-crack.

 

That's a beautiful coin and I love that die crack.

 

As a dealer, I would encourage anyone interested in a coin to ask for the best price. Sometimes its a small discount off the published price, sometimes there is a bigger discount. Sometimes no discount. It depends on what we paid for the coins. But it never hurts to ask. The worst that can happen is the dealer says it at his best price.

Nice large cent. The die crack makes me believe it was part of the Randall Hoard.

For more info on the Randall Hoard: https://www.pcgs.com/news/a-history-of-major-us-hoards-randall-hoard/

 

I find that price guides are just that , guidelines for a given coin . Rarity , mintage , mint , strike , eye appeal & desire are my parameters but actually with all things considered A coin is only worth what someone is willing to pay to add it to their collection .
Today I purchased from my local coin shop a 1874 $3.00 Indian Princess that is well struck in AU for much less than guides suggest so I added it .

 

I woild of asked. See what he had to say.

 

Your gal is wise. It's also a feather in your cap trusting a team judgement. Bravo

 

I've never once even looked at a graysheet. The dealers who have relied on the graysheet I've dealt with are doing themselves a disservice at this point too IMO and need to get with the times.

One guy offered me ~$300 for a common $5 lib in MS62 when spot was around ~$320 which was all I was asking for it. He looked at his little sheet and said I can't go that high. I went home and saw the cheapest $5 on ebay was a raw beat up one for ~$360, I listed mine for ~$420 and it sold in like 4 minutes. The dealer's sheet cost him an easy $100 bill.

Another offered me like 20% more than I would have taken for a Morgan cause his sheet must have been way off for that date/mm.

They can get exploited both ways if they rely on it too much.

 

Every coin should be treated as an individual. If you like the coin and you think the price is fair, then buy it. These dealers may like the coin a lot, causing them to think other would pay more for it. They also might have overpaid and are trying to cover their losses. Tons on things could be happening. Generally speaking most of the dealers I’ve met, meet in the middle of bid and ask and then usually go down fairly easily to bid or less for an even dollar amount (I.e. if bid is $11 they’ll go down to $10 because they don’t want to deal with change). But this varies dealer to dealer and even item to item.

 

All that tells me is you’re misinformed about internet markets

Let’s take eBay for example first of all free shipping isn’t free most people realize that. Then at any given time someone may have a 10 percent off coupon for a 10 percent eBay bucks offer. Several months a year anything bought could literally be free under 500 dollars with eBay bucks.

Even if you say they have no offers or bucks going to a local coin store if you even have one costs real money. It takes much more time than internet browsing, gas, wear and tear on the car, possibly parking, all of which can be significant for a lot of people. Then you get there and they may or may not have something you want or what you were looking for at a price you like. If you leave empty handed you spent money to not find what you wanted. eBay or the Internet takes a few minutes to browse what you want.

That doesn’t even get into the fact that just because some dealer offered him 300 doesn’t mean he won’t sell it for the eBay price. Simple market aspects that actually active participants are aware of which is why he was smart not to sell it to the dealer and list it online

It’s not the buyers on eBay that are ignorant in this conversation

 

Dear god. Get over your problem with Doug. The post you quoted is 100% true.

 

No it’s not at all. Most eBay buyers know exactly what they’re doing and some of the top collectors and dealers buy from there as well. I don’t even like most the decisions eBay has made treating every category the same, but you guys that think that someone is ignorant because they buy there are the ignorant ones

 

Who in the hell said or thought that. Read what was said. Stop with the false information.

 

Well "fair" is subjective. I wasn't offended by the offer but spot was $130 higher at the time so I don't really care about current market prices. It also was my local dealer and it was completely inconsistent with his own normal offers/business practices (I've sold gold to him before that day and since, I have a decent grasp on what to expect) and I even razzed him about it the next time I was in there and he called it a senior moment and laughed. My whole point was relying on what some sheet says is foolish whether buying or selling I don't think that's debatable.

 

False information is why I responded. I have no interest in engaging in a petty fight, someone else might though so good luck

 

might have to compare the price(s) in the blue and red book(s) to see if they are that off ( i know that they come out once a year tho ), jmo

 

If the eBay buyers feel they know what they are doing, that is their estimation and money. It really is the eBay sellers ( many times the same as the previously mentioned buyers) that very often do not know what they are offering as "special coins" such as Lincoln cent 1917 DDO#1. I have never searched through the listing ( about once every 2 weeks ) and found the true variety outnumbering the false ads. many of these are from experienced dealers. So are they uninformed , or do they know full well they are NOT? Often the wording indicates they probably know, so they hedge their wording. There are many people on here I am sure do, or could do, the same searching, and they have enough experience and skills to tell DDO from MD.

People buy things that can destroy their health or self all the time. Some feel secure attaching surplus JATO units to their dune buggies in the desert ( True) to really "peak a dune" before the Rangers catch them. One will never be a pilot again due to injuries...but you can not stop a person if they really want to do something like buy a $1.50 cent that they think is a $15,000 coin they will believe any ingenious posting and poor photos. Jim

 

There are some great sellers on ebay and they know what they are doing.
There are some buyers, not most buyers, that have the knowledge to make good decisions and even make good money buying on ebay.
Many buyers think they got a great deal until they go to sell.