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Do price guides run the market?
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<p>[QUOTE="-jeffB, post: 3925249, member: 27832"]As you magically erase everyone's memory of previous prices, would you also erase their memory of mintages, survivorships, population information? Inventory levels? Series popularity?</p><p><br /></p><p><br /></p><p><br /></p><p>Do you believe that there's a functioning market for coins? I see a lot of evidence that there is. If there's a functioning market, dealers will price coins at a level that lets them turn over their inventory. Sitting on coins doesn't keep the lights on.</p><p><br /></p><p>Price guides can certainly be a negotiating tool, but I don't see them "controlling" much of anything.</p><p><br /></p><p>Dealer: "I'll sell you this coin for 5% under Greysheet bid!"</p><p>Customer 1: "No thanks."</p><p><br /></p><p>Dealer: "I'll sell you this coin for 5% under Greysheet bid!"</p><p>Customer 2: "No thanks."</p><p><br /></p><p>[...]</p><p><br /></p><p>Dealer: "I'll sell you this coin for 5% under Greysheet bid!"</p><p>Customer 12: "No thanks."</p><p>Dealer: "(sigh) Fine. 10% under Greysheet."</p><p>Customer 12: "Hey, if Greysheet is supposed to show the prices dealers ask, why haven't you just sold it to another dealer for full bid? Is there a problem here you aren't telling me about?"</p><p>Dealer: "FINE, 20% under."[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 3925249, member: 27832"]As you magically erase everyone's memory of previous prices, would you also erase their memory of mintages, survivorships, population information? Inventory levels? Series popularity? Do you believe that there's a functioning market for coins? I see a lot of evidence that there is. If there's a functioning market, dealers will price coins at a level that lets them turn over their inventory. Sitting on coins doesn't keep the lights on. Price guides can certainly be a negotiating tool, but I don't see them "controlling" much of anything. Dealer: "I'll sell you this coin for 5% under Greysheet bid!" Customer 1: "No thanks." Dealer: "I'll sell you this coin for 5% under Greysheet bid!" Customer 2: "No thanks." [...] Dealer: "I'll sell you this coin for 5% under Greysheet bid!" Customer 12: "No thanks." Dealer: "(sigh) Fine. 10% under Greysheet." Customer 12: "Hey, if Greysheet is supposed to show the prices dealers ask, why haven't you just sold it to another dealer for full bid? Is there a problem here you aren't telling me about?" Dealer: "FINE, 20% under."[/QUOTE]
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Do price guides run the market?
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