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Does the redbook do beginer collectors a disservice
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<p>[QUOTE="GDJMSP, post: 1431910, member: 112"]No it's not a paradox at all, it's quite simple. And it is spelled out precisely where the prices come from on the Grey Sheet itself, all you have to do is read it. It's found on the front page of every issue, down at the bottom.</p><p><br /></p><p>It says - </p><p><br /></p><p><i>"Prices reported derive from the highest legitimate Bids and the lowest legitimate Asks seen nationally; they do not necessarily reflect the levels at which any particular dealer might offer to buy or sell that coin."</i></p><p><i><br /></i></p><p><br /></p><p>Now the Bids and the Asks that they are talking about come from the electronic dealer networks like Coinnet - <a href="http://www.coinnet.com/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.coinnet.com/" rel="nofollow">http://www.coinnet.com/</a> - and Certified Coin Exchange - <a href="http://www.certifiedcoinexchange.com/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.certifiedcoinexchange.com/" rel="nofollow">http://www.certifiedcoinexchange.com/</a> . </p><p><br /></p><p>I'm not sure if there are any other electronic dealer networks besides these 2, there might be. But to the best of my knowledge these are the 2 biggest and most commonly used networks. In any case they serve as examples.</p><p><br /></p><p>So what CDN does is they go to those dealer networks and they find the <u>highest Bid</u> and the <u>lowest Ask</u> for every coin, posted on those networks and that's what they use as the prices listed in the Grey Sheet for that week's issue.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 1431910, member: 112"]No it's not a paradox at all, it's quite simple. And it is spelled out precisely where the prices come from on the Grey Sheet itself, all you have to do is read it. It's found on the front page of every issue, down at the bottom. It says - [I]"Prices reported derive from the highest legitimate Bids and the lowest legitimate Asks seen nationally; they do not necessarily reflect the levels at which any particular dealer might offer to buy or sell that coin." [/I] Now the Bids and the Asks that they are talking about come from the electronic dealer networks like Coinnet - [URL]http://www.coinnet.com/[/URL] - and Certified Coin Exchange - [URL]http://www.certifiedcoinexchange.com/[/URL] . I'm not sure if there are any other electronic dealer networks besides these 2, there might be. But to the best of my knowledge these are the 2 biggest and most commonly used networks. In any case they serve as examples. So what CDN does is they go to those dealer networks and they find the [U]highest Bid[/U] and the [U]lowest Ask[/U] for every coin, posted on those networks and that's what they use as the prices listed in the Grey Sheet for that week's issue.[/QUOTE]
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