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<p>[QUOTE="The_Cave_Troll, post: 505681, member: 1674"]I agree it is a good question and fairly instructive to understand.</p><p><br /></p><p>First you must understand that the CDN is intended to be a sight-seen wholesale buying guide (one dealer's offer to another dealer for properly graded material when the coin is in hand for review). Coins are NOT fungible and the CDN is not to be used for sight-unseen buying (ebay, online purchases, mail order, etc) that is what the bluesheet is for.</p><p><br /></p><p>The majority of greysheet pricing comes from 2 sources, 1) prices reported by dealers in specialty fields, and 2) the sight-seen bids posted on CCE (the dealer only electronic trading network). </p><p><br /></p><p>Since dealers are providing the data the system is inherently prone to manipulation, so all prices are to be treated with a grain of salt. For example if I have a fairly expensive coin to sell that I overpaid for then one option is to post a seen bid on CCE for more than what I want my coin to sell for. That alone would probably get the CDN to raise its prices listed and since it is a seen bid I can return any coin mailed to me to purchase under the guise of "it isn't nice enough for my client, etc.). </p><p><br /></p><p>If I really want to push it then I can get one of my dealer friends to "hit my bid" and then simply not send a coin. This would look to the CDN as a completed transaction at that price and now I can put my coin into the market with the guide price increased and potentially make a profit. The majority of dealers do NOT do this, but it is an inherent risk of the system.</p><p><br /></p><p>Also, the main CAC buyer lists his bids as Seen bids on CCE. He will actually buy the coins as long as they are CAC stickered, so for any coin he is bidding on the CDN will reflect his bid, even if the real market for non-CAC coins is 65% of what the CAC coins bring. Be cautious! Since the CDN reflects CAC only bids on a number of coins it is very inaccurate for the remainder of the coins in the market for those pieces.[/QUOTE]</p><p><br /></p>
[QUOTE="The_Cave_Troll, post: 505681, member: 1674"]I agree it is a good question and fairly instructive to understand. First you must understand that the CDN is intended to be a sight-seen wholesale buying guide (one dealer's offer to another dealer for properly graded material when the coin is in hand for review). Coins are NOT fungible and the CDN is not to be used for sight-unseen buying (ebay, online purchases, mail order, etc) that is what the bluesheet is for. The majority of greysheet pricing comes from 2 sources, 1) prices reported by dealers in specialty fields, and 2) the sight-seen bids posted on CCE (the dealer only electronic trading network). Since dealers are providing the data the system is inherently prone to manipulation, so all prices are to be treated with a grain of salt. For example if I have a fairly expensive coin to sell that I overpaid for then one option is to post a seen bid on CCE for more than what I want my coin to sell for. That alone would probably get the CDN to raise its prices listed and since it is a seen bid I can return any coin mailed to me to purchase under the guise of "it isn't nice enough for my client, etc.). If I really want to push it then I can get one of my dealer friends to "hit my bid" and then simply not send a coin. This would look to the CDN as a completed transaction at that price and now I can put my coin into the market with the guide price increased and potentially make a profit. The majority of dealers do NOT do this, but it is an inherent risk of the system. Also, the main CAC buyer lists his bids as Seen bids on CCE. He will actually buy the coins as long as they are CAC stickered, so for any coin he is bidding on the CDN will reflect his bid, even if the real market for non-CAC coins is 65% of what the CAC coins bring. Be cautious! Since the CDN reflects CAC only bids on a number of coins it is very inaccurate for the remainder of the coins in the market for those pieces.[/QUOTE]
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