CDN Terminology

In the Coin Dealer Newsletter (Greysheet), what do the terms "Bid" and "Ask" mean?

Thanks!

 

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nothing to do with your post.. but is that a picture of a rat.. or a horse nose .. I just can't ignore it anymore.. it's bugging me

 

It's a dog I think.

 

Bid is the highest price a dealer would be willing to pay for a particular coin...the Ask is theoretically the lowest price a dealer will take for a coin.

This leaves quite a spread for you to decide what would seem to be a fair price for the item your considering. Let me tell you from experience...You can almost always find coins priced at bid, and even occasionally below. But remember, there are no hard & fast rules to this. Dont go into a transaction saying to yourself that you wont pay above Bid for a coin...you never know what the dealer already has invested in the coin. You'll need to find a price that you both are comfortable with. Your dealer needs to make some sort of a profit to stay in business and continue providing you with more fabulous coins.

**BTW...I think it's a close up of his dog

 

My dealer sells at bid and usually buys at around 20% back of bid.

Charlie

 

At the show I go to dealers sell at BID....but I don't know about the buy.....my dealer buys lower than BID IMO...his offers always seem low to other guys that I know.

Speedy

 

Thanks for the info. I just wanted to make sure that I wasn't assuming too much about the BID and ASK prices listed.

glaciermi, how dare you?! A rat?! That's my puppy!

My wife and I have two dogs...we consider ourselves a four member family. Me, my wife, and our two dogs. Their names are Newman and Murdoch. The one in the picture is Murdoch. I thought that picture was hilarious, so I had to use it for my avatar.

Here's a bigger picture of both of them. It's a little old, but you get the idea. "The boys" (as we call them) are attached at the hip. They are brothers from the same litter. They are mutts, but cute ones at that. We believe they are mostly border collie / black lab mixes. We just love them! Also, they are now about 2.5 years old. We adopted them from a shelter when they were four months old.

 

nice puppies. attached at the hips? Not sure if i hear it correctly, like cojoint twins?? wow. First time i hear that for a pet.

 

I'm pretty sure he was using turn of phrase.

Border collie and black lab, huh? Sounds like a mighty fine mix to me.

 

OH... he meant THAT. blond moment here.

 

Yes, I was speaking figuratively. One can't be someplace without the other. Thanks for the comments.