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Message:: [QUOTE="GDJMSP, post: 987665, member: 112"]The ones that CDN use as a reference do yes. But you have to realize, these are usually large national dealers. Not your average coin shop. Exactly what it says they are. There are services, run on a teletype, that dealers subscribe to. Not all dealers, but some of them. It works just like any other venue, some dealers post Ask prices and others post Bid prices on the teletype and if any two of them are in agreement they accept and the transaction is concluded. Again, they are just what it says. They're no great secret and have been widely known for many years. The first ones were established with the advent of the internet. In simple terms it's a web site where dealers post their Bid and Ask prices for given coins in given grades. And when two of them agree - deal is done. Pretty much all of the major auctions, and yes.  Nobody pays any attention to ebay or any of the other on-line auction sites because there are too many people who have no idea what they are doing buying and selling there. So the prices are meaningless.   No, you are not. The value of any coin is not established by the highest price ever paid for one because the person paying that price may be a fool. Therefore such a price is considered to be a fluke and irrelevant, as it should be. The value is established by what any of a number of educated buyers will pay for the coin at any given time. And only when that number of educated buyers are all willing to pay more than was previously paid, only then does the stated value of that coin in question go up. Same thing for when prices go down.[/QUOTE]

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