Here is often one of the most confusing aspects of the coin market. Many different price guides are available to the coin collecting community. Some are online and some are published. Guides are exactly that. A guide. No price is set in stone, and each will vary depending on the current market cycle. When searching for a price guide, it is best to use one that is current and up to date. Price guides such as the Red or Blue book are only published once per year. The coin market changes very frequently. Dealers around the US use the coin dealers newsletter. One issue is issued for raw coins, certified coins, and currency. Published once per week, and also online. http://www.greysheet.com This publication is used by and for dealers. Collectors will not be able to buy and sell coins based on these prices. However, since this is the dealers price guide, you will be able to make wiser purchases knowing what dealers are paying for their material. Another good price guide is auction prices realized. Most online auction firms and regular auction firms list prices realized from their sales. This allows you to regularly look up what specific coins are bringing in the market place. Please take into consideration that most prices are based on knowledgeable buyers and sellers.
Now here is something that should be published and shown all over the internet, coin shows, coin stores, etc. People just don't understand this concept.
Very good advice to look at auction prices realized. Unlike the price guides, the basis of which can be unclear and/or outdated at times, auction prices realized are clear and direct evidence of what a given coin in a given grade brought on a specific date. In looking at the Greysheet or one of the online or printed price guides, it can be difficult or impossible to tell when the last time the price was updated. Are you looking at a price from this month, or has the price not been updated for several years?? Also, are the prices in these guides based on dealer bids for the coins or are they retail prices? Each guide will be different in that respect and the prices can be very different too. That said, before I purchase any coin worth over a certain amount, I research the recent auction prices so that I know the general market value of the coin before I buy. I usually will check the Heritage auction archives and the Teletrade auction history, both of which are free after you sign up on their respective websites. Looking at auction prices realized works great for relatively common coins that trade frequently, but for very rare coins that do not trade frequently or for coins that are very high grades with none graded higher (top pops), you can pretty much throw a price guide and prior auction prices out the window It then becomes a matter of how bad you want the coin and how much you're willing to pay so that you don't have to wait until the next time it is offered for sale (which may be never for certain coins).
As a dealer and collector in Military payment certificates i can tell you The Value guides out there, Which is really only one "The Green sheet" Is a great tool but you really have to do your research as well! Including pop. searches and of course auction closing prices!
I buy the greysheet and use it all of the time, along with prices realized at auction sites. I had one dealer in Minnesota who told me not to come in his shop with the greysheet, so I never went back.
What a jerk, Some dealers just want to take advantage of the uninformed!! I would not go back either!!
From my experience Grey Sheet get's universally accepted but when I pull out Green Sheet 20% like to complain that I cant get it at that...
Does the "Grey Sheet" have both coin and currency? I though that the "Grey Sheet was for coins" and the "Green Sheet" Was for currency? If thats the point you were trying to make? Please thread me back, Iam interested since i have always used The Green Sheet
That's it Yes It's the same company CDN "Coin Dealer Newsletter" They have Grey for Coins and Green for Currency and Blue for Graded Slabs. But not all are accepted as much as the others...
Help rookie here. If I know the grade of newer coin. Where can I look up what I should pay for it. I would like to buy some newer proof quality silver Roosevelt dimes but I can not find a current price guide that list them so I know that I am not getting ripped off. I am sure coin shop owners see me as a 12 yr old waiting to get taken even though I have gray hair. Way to excited about collecting for my own good.
Agreed. If you do not know the pricing in the market, you need education. Try perusing auction sites and see what market prices have been running. Coin collecting is all about knowledge. If you want to collect a certain series, become knowledgable about them and what prices run. Then you can start to spot better deals and act on them. Price guides are simply a starting point, but real knowledge only starts there and you acquire it on your own. If not, there are many others out there who will, and they will get the good deals and you will buy overpriced goods.
Thanks for the info. I have been watching ebay and they are all over the place on these coins. Will check out Teletrade and Heritage. Thanks Again.
I know this doesn't apply to the thread that much, but has anyone seen the going rates or even seen a COA or the complete box, velvet box and plastic coin holder for a 1987 $50.00 Gold Eagle. I need one for myself. Thanks in advance.
Each time there is a price change for any listing in the CDN, you will see a minus (-) or plus (+) next to the price. Unless you have years of back copies, it would be difficult to know. Chris