I am thinking about selling my full set of graded Morgans. I've never seen greysheet prices. Just out of curiosity, how do they compare to classic online priceguides or even ebay prices? In my head, I value the coin at what it would cost me to buy it. But I know any dealer is going to go greysheet. For example: 1878 CC in MS62, PCGS says $600 and NGC says $570. I can buy an NGC on the bay for $495. What is the greysheet? Or the easily available 1880 S in MS65. PCGS says $265, NGC says $225. NGC on the bay for going for $190. What's the greysheet?
Not that it's really relevant. But here is my list. The ones in yellow are "extras' that are not listed in the classic full set (two of which are the only details grade).
I am assuming this is in response to the 78CC. But I dont know what it means. Is that what a dealer would look up to offer to buy this from a private individual?
I expect to pay 20-30% more than Greysheet, but less than PCGS or NGC listed prices when buying from a dealer. Auction buys will be more because of all the fees. I expect to sell at least at 10% more than Greysheet on eBay. I expect to sell about 10% less than Greysheet to a dealer.
Kinda sorta anyway. General rule of thumb, whatever the current Grey Sheet Bid is, a dealer will offer between 10-20% less than that. You also have to keep in mind that the lower a given coin's value is, the higher the percentage less than current Bid will be. Think of it like this, if a coin is only worth $50, it's not worth the dealer's time to buy from it from you if he's only gonna make a $5 profit. So instead of 10% less, he may only offer 40% less.
For US material - Generally from my table at a show I offer 70pct CPG (retail based on CDN Bid) or what think can sell for. A coin is listed on my CDN app at CPG MV $200 and CDN bid is $154. My offer would be around $100-$140 depending on the coin and where it falls in the grade range and current market conditions (My analysis of its demand / how quickly can move it). So on US looking buy 50-70 pct MV. Mods usually trading on the lower range above. Now gold may have to pay more as those can be narrow spread. Bullion coins a narrow spread too. For CAC the CAC CPG MV would be the basis. On material like world where there is no CDN my offer based what could sell it for. It could vary…..based on Mkt conditions sell outlook. So for me what I think can sell an item for drives my offers, bids, search for pickups. Am an experienced big picture guy (cognizant of market) not some digital person x pct above bid. These days mostly chasing low pop stuff can get decent markup. Overhead costs in the biz a big hurdle to clear. I am not in the biz for free and expect a return on inventory cost, my time, and materials. There is no free ride in numismatics. As I told one tire kicker from my table wanting buy at bid “send them (CDN) a check.”
Well, using the 78CC MS62 as a single date/mm/grade snapshot: Current NGC Priceguide is $570. Your CDN Bid above is $425. Which is 74.6% If you sum up every NGC value of the complete set in the spreadsheet above.... I just sold it 82% of that number. It was a tough and emotional decision.
Yes, this is what it was like when I was a dealer. There were a lot of collectors who expected to buy a Grey Sheet prices. What they failed to realize was that the coins that were really nice for the assigned slab grade sold for more. Quite often they ended up with the "C coins" when they wouldn't pay more than Grey Sheet "bid." For really scarce or rare coins, the Grey Sheet numbers are often a "wish list." Dealers who had a good list of clients would more than happy to buy high grade early U.S. coins for the numbers on the Grey Sheet. If you really wanted those coins, you had to pay more. And then there was stuff like rolls of Indian Cents, Buffalo Nickels and Liberty Nickels in Good that were worth a lot less than the Grey Sheet numbers. Ditto for "dead areas," like Proof sets.
Yes in past when offering slabbed coins to dealers at their tables their offers might be 10-20 pct back of CDN bid. However this could be less due to market conditions, inventory needs, or the coin just average quality.
At shows hit w many at my table wanting buy at wholesale at or near bid. This is detrimental as to why I am there (make decent profit to at least clear show costs). Sometimes may flip something to them (example-big ticket item in inventory for months)at small margin for cash flow. However it’s the retail buyers that really make my show. Then there are the people that don’t have any money wouldn’t buy something even if it’s at wholesale or just tirekickers looking to pick something off. If a big spender retail buyer at table buying multiple items don’t let anybody interrupt the deal. They could be trying to horn in. Block them / get rid of them. Just tell them busy with a customer. I had one guy come up to my table saying he is one of the new blood in numismatics (making low ball offer) saying he buys below bid to sell to dealers (don’t know if gall or just stupidity on his part) - Laughing I told him go find one.
