Bought the latest Greysheet: What is there to know?

Discussion in 'Coin Chat' started by Vess1, Jul 24, 2021.

  1. Vess1

    Vess1 CT SP VIP Supporter

    So I bought the latest greysheet. The last time I bought one it was a newspaper. Now it's a nice magazine in color and a lot more expensive.

    For anybody that knows, do the prices fluctuate much from month to month? Is it fair to use the blue sheet NGC, PCGS prices as a guide at a show these days? I have to say it has really improved over the last one I got but it appears you do pay for it.
     
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    It is expensive, for sure.

    Grey sheet really benefits one when making fast buy / sell decisions on the bourse floor, especially for issues or grades that one is less familiar with. Because I have had more time to make decisions while most shows were sidelined during COVID, I suspended my subscription, and have not yet renewed. That's fine for now, as I'm not headed back to a major until at least November.

    My renewal will cost $300 per year when I decide to renew, but I'm in no rush, as it's pretty easy to figure out what to pay and sell for, as long as I have the time on my hands to do so.
     
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  4. norantyki

    norantyki CoinMuncher

    Ugh, this is such a complicated question. Unless you want a market valuation on a super rare item, searching ebay sold listings, and heritage sold listings will give you a good idea of actual worth.
     
    Bilbo1 and MIGuy like this.
  5. fretboard

    fretboard Defender of Old Coinage!

    I like to look at it once in awhile, haven't bought one for years. Last time I bought a coin that was priced by the greysheet I felt ripped off. Just sayin' most of their prices are way to high for this buyer! Enjoy, I'm sure it has interesting tidbits! ;)
     
  6. baseball21

    baseball21 Well-Known Member

    Depends what it is. In a lot of series the prices are low for the premium pieces like Barber and Seated stuff where most of the coins are just ugly. Once they jacked up the price I stopped getting it. Realistically it’s just not necessary unless you’re a dealer doing shows as it only takes a minute or two to get actual sale prices online.
     
  7. Derek2200

    Derek2200 Well-Known Member

    Unless your a dealer in the biz it’s not for you.

    I use CPG which is their free retail based on GS. I offer about 60-70 CPG to walk up sellers from my table at shows. I might sell around CPG or much higher if coin PQ.

    Their prices change every month as CDN bid changes. One guy tried buy from me at bluesheet I laughed at him and told him go open a coin shop.

    Greysheet is a wholesale publication for instance one might usually offer 80 pct CDN bid (or less) to walk up sellers.
     
    Last edited: Jul 24, 2021
  8. fretboard

    fretboard Defender of Old Coinage!

    Yes, you got that right! Technology has been very good to coin collectors!
     
  9. GDJMSP

    GDJMSP Numismatist Moderator

    For over 50 years values listed in the CDN were based on one thing, and only one thing - the current Bid/Ask of the electronic dealer market. A few years ago that got thrown out the window. And ever since then CDN values are determined about the same way all other price guides are determined - the opinions of a few - not what the actual market is.

    In other words, the CDN is just as worthless as all the other price guides are.
     
  10. Mac McDonald

    Mac McDonald Well-Known Member

    Last time I looked...or tried to look...at a Graysheet, the font was so small I couldn't "look"...at least not with any efficiency/ease/confidence, et al, that I had the right line/column/numbers. Gotta be worse, now...unless that part of it has changed/improved...I'm several years older and eyes are several years worse..! o_O
     
  11. Mr.Q

    Mr.Q Well-Known Member

    Price gouging, never had an interest in it. Thanks for the post.
     
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  12. Vess1

    Vess1 CT SP VIP Supporter

    The only reason I ask is because I've been to shows at various places and you make an offer on something and often times the dealer will say, "well let me check the greysheet" and then they find the coin and say best I can do is "X". Not having the greysheet myself I always wondered what the prices looked like that they're looking at.
    It appears on a lot of things I"m looking at that the bluesheet listed prices are wholesale as it says and you just have to determine how much more than that you're willing to pay. So if the price is anywhere close to that number it's probably fair. If lower it's probably a great deal but probably not going to see that.

    As an example pick a 1904-O Morgan. A standard MS-66 is listed as $255 under both PCGS and NGC bluesheet within the greysheet magazine. They're selling for between 300 and 430 on ebay.
    So if you go to a show and find one and offer $250, you're just wasting your breath. If you see one listed for $450 it better be one of the nicest ones you've ever seen. Without ebay fees at a show you could probably expect to pay around 300 to $350 for a nice one and maybe the dealer makes 50 to $100 on it. The guide is telling me they're not going to let one go for $260 and waste their time. That's narrowing down a reasonably expected price range on a given coin in a given grade.
     
  13. GDJMSP

    GDJMSP Numismatist Moderator

    Perhaps you do already, but based on your comment I want to make sure you understand things correctly.

    It used to be, stress used to be, that prices listed in the Grey Sheet were wholesale, which is defined as what one dealer would sell a coin for to another dealer. But there was an additional caveat that went along with that - those prices were for sight seen coins. And sight seen is defined as held in your hand so you could see them in person !

    However, with the Blue Sheet this was not the case. Prices listed in the Blue Sheet were for sight unseen coins. And sight unseen is defined as coins you cannot hold in your hand to examine it in person. You know the TPG, you know the grade, and you might or might not get to see a picture. But even if you can see a picture, that is still considered sight unseen. This and this alone is why the Blue Sheet prices are always lower than Grey Sheet prices ! And price are lower because of the additional risks you run by buying a coin, any coin, you cannot see in hand ! Higher risk = lower price !

    All of that said, the difference between Grey Sheet and Blue Sheet is still the same - sight seen vs sight unseen.

    However, the prices listed in both are no longer valid, or real world if you prefer the term, wholesale prices. This is because all of the prices listed any CDN publication are no longer based on the Bid/Ask of the current electronic dealer market. And the electronic dealer market is what establishes real world wholesale prices - for both sight seen and sight unseen coins !

    In today's world, any and all prices listed in any CDN publication are based on opinion - just like all other price guides.

    Because of that, it is my opinion, that the CDN is just as worthless all other price guides.
     
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