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<p>[QUOTE=&quot;NPCoin, post: 582814, member: 5629&quot;]I am genuinely surprised by some of the earlier replies to this thread from some of our seasoned numismatists.</p><p><br /></p><p>To answer your question, the Greysheet is published by CDN, Inc. based in Torrance, California.&nbsp; They have been in the numismatic information business since 1963 with the purpose of reflecting accurate bid and ask levels of coins in the wholesale market.&nbsp; They utilize any and all information on the market they can acquire to make their bid/ask speculations, including teletype and computerized trading networks, actual dealer trades, &quot;buy&quot; lists, auction realizations, etc.</p><p><br /></p><p>Their bid/ask prices are their reflection of the current wholesale market.&nbsp; When referring to the wholesale market, the following is assumed:</p><ul> <li>the transactions are dealer to dealer</li> <li>the bid levels are for items actually needed in inventory</li> <li>the ask levels are for items actually in inventory</li> </ul><p><br /></p><p>That is to say, the market is specified to dealer-to-dealer transactions with actual market supply and demand, and not speculation, taken into consideration.</p><p><br /></p><p>It is quite unfortunate that there are speculators, investors, and even collectors who feel that they are somehow a part of this wholesale market, or deserve the bid benefits of said market, when, in fact, they are part of the retail and secondary markets.</p><p><br /></p><p>Supply and demand on the wholesale market is quite a different subject than supply and demand on the retail and secondary markets.&nbsp; On the wholesale market, items are in actual inventory and taking up valuable capital that could be used for newer inventory that may have a higher demand on the retail market.&nbsp; Stagnant inventory is never a good thing for a dealer.&nbsp; If a dealer can offload stagnant inventory (sometimes in bulk) to recover capital for newer inventory that is in higher demand on the retail market, the dealer will often take the opportunity.</p><p><br /></p><p>This opportunity, however, may require the dealer to offer the stagnant inventory near cost.&nbsp; This is, for the most part, where the Greysheet ask is derived. Usually, the dealer placing a bid for such inventory is in immediate need of such inventory (as stagnant inventory never makes a dealer money).&nbsp; So, it is not surprising that, when trying to sell to a dealer, they will only offer you Greysheet bid, or even lower.</p><p><br /></p><p>When they have the opportunity to obtain inventory as needed on the wholesale market for a slight cost above published wholesale bid pricing, why would they give a retail customer more for possibly stagnant inventory?</p><p><br /></p><p>That is quite understandable, however, the OP has a problem with this same attitude from what are supposed collectors.&nbsp; I personally have no real problem with opportunism.&nbsp; Why, that&#039;s what &quot;cherry-picking&quot; is all about.&nbsp; Seeking that opportunity to obtain a desired piece at that unbelievably low price.</p><p><br /></p><p>Yet, I do not believe this is even what the OP has a gripe with.&nbsp; I have for quite a while now seen many proclaiming to be &quot;collectors&quot; with the attitude that they somehow &quot;deserve&quot; the same pricing as dealer-to-dealer transactions.&nbsp; The attitude puts anybody, even dealers, who try to charge any semblance of retail pricing into the mold of being, for lack of a better word, evil.</p><p><br /></p><p>Those who try to charge a retail price are proclaimed by many of these people to be scam artists, rip-offs, underhanded, etc.&nbsp; And I&#039;m not talking about the sellers who obviously are, trying to sell circulated coin as BU, selling counterfeits, etc..</p><p><br /></p><p>I believe this is the attitude the OP has encountered and become overwhelmed by.&nbsp; And a place like eBay very well may get a better price for the coins, yet, keep in mind that eBay is not free.&nbsp; By the time the closing fees are said and done between eBay and PayPal, each coin will cost 15%+ in fees.</p><p><br /></p><p>So, while the peer-to-peer market may indeed get you 20% or more higher than a wholesale price may, it still may be better to just sell to the local dealer at wholesale levels.&nbsp; But, I certainly would think twice about giving someone with an &quot;I deserve it&quot; attitude wholesale pricing when the hard working dealer would give me the same and have the opportunity to profit, and thus continue to stay in business.[/QUOTE]</p><p><br /></p>

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