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Message:: [QUOTE="imrich, post: 1401388, member: 22331"]Misunderstood Number, or A Dealers Favorite Tool!! I believe the qualifying statement: "A weekly comparison of certified coin BID LEVELS relative to CDN sight seen BID LEVELS (as 100%)" somewhat clarifies these relatively nebulous numbers. My understanding, is the following example, using the current C.D.N. "Grey Sheet" bid guides. If you brought (in pocket) an ANACS certified 1902 MS63 "mint state" $20 Gold coin, C.D.N. valued at $1865 Bid, to a dealer, and asked for a offer, he could reasonably offer you $1052 (56.42% sight seen) for the coin. He may even be gracious and offer you the maximum of $1512 (81.06% sight seen) , or the average of $1285 (68.88% sight seen) for a certified coin having a melt value of $1639 (C.D.N. published basis). I suspect the dealer would eventually ask to see the coin, and offer slightly short of the "sight seen" price of $1865. Maybe $1675 (~90% sight seen)? The coin has a PCGS "price guide" value of $13000.  Maybe the local dealer is a possible candidate for an average buyer? <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]