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<p>[QUOTE=&quot;Lehigh96, post: 691334, member: 15309&quot;]I am not sure what in that post you find contradictory or unethical, but I think you are misunderstanding Jack&#039;s point. His point is that key dates are hard for dealers to locate sometimes and when they do, the dealers have to pay above grey sheet bid. His second point is that dealers are in business to make money. If they sell coins for no profit, they can&#039;t survive.</p><p>&nbsp;</p><p>Consumers recognize and accept in every business that the retailer has the right to charge and acceptable mark-up level. In the coin industry, dealers have to mark up 10-20% in order to make a profit. Therefore, if you see a coin between grey sheet bid-120% grey sheet bid, the coin is probably priced fairly. When you see a coin at a significant premium, you should ask additional questions. Does the coin have exceptional eye appeal? Is it a rare variety? Does the coin in question hit the market infrequently? These are all valid reasons for the dealer to charge additional premiums.</p><p>&nbsp;</p><p>I don&#039;t know why coin collectors expect that they should be able to purchase coins at the wholesale level. You can&#039;t do that in any other business unless you buy in bulk. The second part of the equation is that collectors should not expect to sell their coins for their buy price unless the market value of the coin increased. For example, you can&#039;t buy a coin for $100 with a grey sheet bid of $90 and expect to sell that coin for $100 6 months later if the grey sheet bid is still $90. The collector should expect to lose money in this situation. I buy every coin with the expectation that I will lose 20-25% of my money at time of sale and the hope that I will break even. This philosophy ensures that I am not disappointed.[/QUOTE]</p><p><br /></p>

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