Are greysheet prices realistic?

I've been selling some gold and silver coin lots. I've graded them carefully, and calculated the latest greysheet prices for them. But I find most local coin shop dealers offers are at least 10% below the greysheet values. Is this typical?

 

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Greysheet is supposed to represent Wholesale Dealer-to-Dealer bid prices. How well it does that is subject to much differing opinion but that is what the publisher purports. To answer your question, I would say that if a LCS is offering you 90% of Greysheet, you're doing rather well. Of course, Greysheet is an averaging proposition for both condition and pricing plus it is intended for slabbed coins, not raw coins. Again there is probably some disparity of opinion on this last point.

 

Yes & No. Depends on the coin. When I was an active collector, Graysheet was not relevant to the quality of any MS coins I purchased or sold.

 

So what was relevant? What did you use to ascertain what you thought were fair prices? When I've been selling, I think the key is patience (if you can afford it), put what you think is a reasonable price on it based on whatever resources you have at your disposal and then put it out there and wait until a buyer comes along. Sometimes things sell fast, sometimes it takes a long time.

 

Patience is definitely key. Some items have a smaller pool of buyers and it takes time for one of them to find your listing. This is especially true for something more unique or a common coin with uncommonly nice eye appeal. Now something generic (bullion, 90% silver, proof sets, etc...) requires a different strategy. That has more defined pricing and you have to either go with the current market or wait until the market moves (which could go in either direction).

Back to the original post, 90% of greysheet would be very good for many of the common items but might be very low for the better items (and you could achieve higher prices in other venues).

 

Sounds like a reasonable off to me. Your not going to get grey sheet prices as your not a dealer.

 

Back when I was doing shows, most dealers were basing their buy prices from the public on Graysheet. But the offer was usually 20% - 30% back of bid, unless the coin was something really special. So I think your LCS is treating you well.

 

It depends upon the specific coin. If the coin is a nice collectible and not low grade or bulk stuff, like rolls of circulated Buffalo nickels, 10% below bid is often a nice offer. But there are over graded coins in slabs that are bad buys. You need to look before you buy.

 

i always used grey as a very general guide only, but for actual purchase, i would first review heritage auction history. for sale, i would use heritage less the add-on.
i would usually offer more than the asking price, if i thought the ask was low.

in the last 5-7 years, i think the grey is inadequate, and has many mistakes. quality/info gathering issue, i guess, or just laziness.

 

Unless you need the money, keep it. Especially if it is slabbed. Good luck, Happy New Year

 

Good Advise. I use grey as a starting point only and usually offer 12-15% less, so far it has worked well.
stay safe and let's put this MISERABLE year behind us.
Phil

 

I very much agree with what you are saying. My only objection is there are a couple of auctions I monitor that have what appear to be EXCESSIVE fees. I will then check elsewhere in an attempt to locate the same/similar coin with an acceptable fee.

 

It makes no difference what fee level an auction company charges...1% or 50% are exactly the same in the end. One simply adjusts his bids to correspond with the total he is willing to pay.

If your total price is 1000.00 you bid up to 999.00 at 1%; or you can bid up to 500.00 at 50%. The total amount is the same.

 

i understand, of course. it is what i do. it is not that important to me. the piece i sell, when i do...which is rare....is always more than i paid after adjusting for inflation. many hobbyists and dealers alike have been very generous to me over the years, so it is sort of a pay it forward issue. the majority of the time i am only selling because i am replacing the coin.

if i was a for profit dealer, or viewing the sale from an investment perspective, or sold more than a couple of coins a month/year, your advice and position would be spot on.

i always sell to yns at much less than the "market" value. i like to encourage a budding collector. we need them in the hobby.