Grey Sheet higher than Blue Sheet. Why?

It seems bass ackwards to this newbie that a lot of the values in the "Certified CDN" are LOWER than dealer ask in the greysheet, sometimes by 50%, but usually around 10-20%.

Examples, using MS63 as the grade: (values from my Jan 1, 2010 editions of CDN)

1913 S TII Buffalo Nickel.... PCGS/NGC=$450/415...... grey ask=$850

1879cc Morgan ................PCGS/NGC=$4750/4650....grey ask=$5250

1919 Mercury dime ...........PCGS/NGC=$2400/2300....grey ask=$3100


I would think that when a coin is certified by expert graders (at companies that are well respected) and entombed in a big plastic case it would garner a slight premium. Why not?

Scott

 

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So if I was at a coin show or shop, holding a slabbed whatever, the price would be at or over grey sheet, but that same coin bought over the phone would be at blue sheet?

 

Sry another noob question. Where would someone find this "grey" sheet and "blue" sheet that you are talking about. Thanks in advance for dealing with my silly question.

 

Since Bluesheet prices are for sight UNSEEN coins, it wouldn't be advisable to allow a dealer to use the Bluesheet as their sole guide when purchasing coins from you in person since they can obviously see the coins in hand before they decide whether to buy. Though, many dealers will refer to both the Bluesheet and the Greysheet as guides when buying coins in person. But if they tell them Bluesheet is the guide for graded coins, then call them out on it as that isn't the case.

For a coin sold over the phone WITHOUT offering any return option to the dealer, then yes, Bluesheet would be the more appropriate guide since the dealer can't see the coin before they make their final purchase decision. But if you sell the coin over the phone WITH a return privilege, then the transaction is the same as a sight seen deal since the dealer will be able to see the coin before the transaction is final. Same goes for internet purchases with or without pics. If you can return the coin after you click buy and get it in the mail, then it is a sight SEEN transaction. If it is an auction where all sales are final no returns, then it is a sight UNSEEN transaction, even if you have photos of the coin available.

 

Anyone can buy a copy. Search CDN Greysheet and you'll find their website. You can download pdf copies or call them and they'll mail you copies. If you're not sure which newsletters you want, I know several local dealers who throw out their old copies or give them away to customers. Might want to ask a local dealer of yours if they have any old copies (but still recent enough to matter) to give out.

 

OK, thanks for the explanation. Makes sense now.

(But I still think the value difference on the Buffalo is a bit much :goofer:.)

 

Well put Doug so here's another question.

When did Bluesheet first come out?

 

That probably is the first issue then since as far as most people are concerned the first slabs were PCGS and they didn't open until Feb 1986 and it would have taken awhile for enough coins to be slabbed to make a specialized sheet worthwhile.

 

So, a dealer would be throwing profit away if he sold a really PQ coin at a sight unseen transaction (blue sheet), instead of waiting for someone to see it in hand and pay the premium.

 

Interesting note: some small coin shows, usually a local one day show, will sell at grey sheet bid. That is common practice here in Minnesota.

Also just a reminder do not buy a coin because it is graded at a specific grade and holdered. Buy the coin.

I collect half dimes. I do have a minimum grade I will except. However eye appeal matters greatly to me. So I have turned down incredible deals because the coin did not catch my eye.

For instance I have an opportunity to buy a 1859 pcgs proof 64 seated liberty half dime for $1250 by fair market value that grade should sell for $1800+. Now that coin at some point was covered in plastic and that plastic caused a milky haze to cover the front of the coin. I love proofs but you literally have to pick this coin up and look close to see the perfect mirrored fields. That milky haze makes it un-purchasable. It maybe possible for NGC conservation to remove the haze but a $1200 bet sounds like a rough ride.

 

6 year old thread rises from the dead. I can almost tell you how my local shop buys - grey sheet. Last time I took a some graded coins down to the shop I bought a grey sheet before selling. I figured out how much I would get - I was off by like $10. I also know on certain common date common grade coins when I asked for a price they looked at the grey sheet also - this was on some common date gold coins. I do know one thing about the local shop - know your prices before you go in there. If they get a coin and price it - the price drops - it will stay the same price. I know I watched one coin for about 6 months - I really liked it - so I finally bought it. It was over-priced - but that was okay, since I like it anyway.

 

So how do you sell coins over the phone? I have guy offer me 700 for a foreign dime based on a picture I took with a cell. I saw a blue sheet price that was extremely high - I am not skilled with coin grading - so I have been trying to learn more. I am concerned that I should get this coin graded, but don't know who to have do it. The dime is from Hong Kong.

 

If a buyer offered $700 on a picture it sounds like it should be graded, or at least evaluated by someone knowledgeable and trustworthy. Can you post a picture here? You will get better advice if we can see what you have.

 

Personally I wouldn't to a random stranger. There are safer ways to sell them without plastering my cell phone number around.

 

Google...CDN or www.greysheet.com

 

One of two things is happening here. Either he's confident that $700 provides enough margin for safety against getting a clunker that accidentally photographed well (making a really nice coin an absolute steal at that price), or he'll "accidentally" send a cashier's check for $1000, and then tell you just to keep the overage after you send the coin, only to have you find out several days later that the check is no good.

Have someone that knows these look at the coin in person. Do some more research on eBay or Heritage to see if you can find something that backs up this offer.