Greysheets allowed at coin shows?

I saw a table at the Bay State Coin Show that had signs all over the place that said something like, "No Greysheets here" or "Greysheets not used here". Something like that. What was the dealer saying? That greysheets aren't allowed to be used at that table? That they don't rely on greysheets for pricing and they'll start haggling with any reasonable offer?

 

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Sounds to me like they were advertising that they don't sell by book value. They'll haggle and sell lower than book. Because if it was the other way, who'd buy from them?

Ribbit :smile

 

That's how Abon and others stay in business.

 

Excellent and logical answer, GDJMSP. Thank you all for the help. So, just to make sure I'm clear, it's not a faux pas or against the rules to walk around with greysheets at a show? I'm not going to be jumped by Men in Black and hauled off to Coin Show Jail, right?

 

Absolutely not. It's a free country. However there are times when you may want to keep the greysheet hidden in your pocket.

 

LOL - No - You can use anything you want as a reference! Just remember that the dealers set their own prices based on what they want or need to get to stay in business. Just use it as one of many tools but be sure to be respectful to the dealer and not use it as a firm negotiating tool. If you both cannot come to an agreement on a fair price just politely pass and find the dealer/price that works for you. Just remember you may need to deal with the dealer in the future so don't burn any bridges!

Good Luck!

Darryl

 

Nah. That's not my style. I'll just jot down some numbers I need and probably not bring the sheets--assuming I even buy a greysheet. I see no point in being rude while doing something for enjoyment.

 

GDJMSP's and Toad's scenarios are two of many possible reasons the dealer has the "No Sheet" signs posted. Another could be the fact that, depending on the series, the "Sheets" are usually obsolete the second the are pulled off the press. Perhaps, the table sees/encounters customers that buy/sell only at "sheet" prices and do not understand or accept the fact that in reality, depending on the series, date, and mm etc., that certain pieces bring much more or less than the "sheets" state.

There are far to many variables to come up with a rational guess as to what the sign was trying to convey. Anyone's guess is as good as the next in this case...You probably should have just politely inquired as to what the sign meant, as I am almost certain you would not have been the first nor the last person to ask them about it.

 

Not rude at all. When you start working on a fair price with most dealers the first thing they do is grab their greysheet for reference. They don't consider it rude so you shouldn't either.

 

When I go to a show, I usually just write down the few I need and their charlton's price, and keep the list in my pocket, And I generally know which ones could use updating in my books.

 

Exactly - your expectations from that reference and how you conduct yourself is where buyers get themselves in trouble. Just remember not all coins are created equally - judge the coin not the slab and come up with a price you are willing to pay. Be preparred for what you are looking for but in the event you see something you didn't expect you should have a reference to start from.

 

What was the dealer saying ? Nothing I care about. Under no circumstances is he able to tell anyone what they can or cannot use. Do what you like, and he'll do what he likes. Ask him to throw down a number first, and use the greysheet to see if you're in the ballpark. It's all about meeting in the middle.

Some dealers like to mention that Greysheet is dealer wholesale pricing and thus invalid for retail customers. Their is some truth to that, but it's a decent starting point for many issues.

For instance, you can get nice white Morgans at greysheet ask all day long. Good ones. Sometimes at bid or even better. Same with proof sets, and many others.

 

That's ridiculous. Why would I subscribe to Grey Sheet if I cannot use it at a coin show? Of course I carry my Grey Sheet with me and I'll pull it out when I want to.

Sometimes you should be discreet using a Grey Sheet at a coin show. Other times it pays to let a dealer know you have a Grey Sheet because he may give you a better price for his coins because he may assume you are more knowledgeable than a buyer who refers to a Red Book or Coin Values.

 

I have the monthly in my pocket every show, and pull it if I need it. Wouldn't go without it, you cannot remember all the "guide" prices. I generally know what I'm looking for and have the #'s in my head, but if something unfamiliar pops up , or something "special" , I want to have an idea of where I'm at according to the "guide".

 

where can i buy the most recent graysheet?

 

www.greysheet.com

 

From experience of about 2 to 4 coin shows a month for many, many, many years I've never heard of a coin show where any price guide is not allowed. So far I've seldom seen any collector with any price guides at all inspite of the fact you could, if wanted, to carry anything. I remember only once in all those years someone with a Red Book and that was a young kid. Most dealers always have a grey sheet for prices but only use them when you start to haggle a price. Then they usually look to see if what I'm suggesting is out of reason. Many dealers have a code on the holder that describes what they paid or where to look in their inventory listing. If your a decent, repeat customer they would like to give you the beggiest break they can but not at a loss either. About half of the dealers at coin shows I've been to do not have prices on thier coins and when you ask for such a price, they first look at you then at the grey sheet. I would suspect this is they try to see if you look like you could afford the highest price they state.
As a rule most customers, buyers, I've seen have a listing of thier own of what they need or want. Next to the date they have a possible price and it is based on who knows what. Might be what they saw on ebay. maybe from some price guide, a freinds suggestion, an outdated book. Regardless, not to many people carry anything like an actual price guide at coin shows I've been. Possibly it's due to most coin collectors being as old as me and just don't want to carry a heavy piece of paper with them.

 

Is the grey sheet for certified coins or raw, or does it even matter?

 

Sure, you can use the Grey Sheet for certified coins. They also print the Blue Sheet (Certified Coin Dealer Newsletter) which lists wholesale bid pricing for sight unseen PCGS and NGC coins.