What’s the Coin Price Guide Used by the Coin Dealers?
The coin dealers generally have the secret price guide, which they use while dealing with any other coin dealers and buying greysheet coins from public. What’s the price guide, and can non-coin dealers get the copies?
Secret Coin Dealer Costing Guide
Wholesale guide for coin prices is the monthly publication known as “Coin Dealer Newsletter” (CDN). Because the newsletter is generally printed on the grey paper, and coin dealers mostly refer to this as a “Greysheet.”
How Does it Work?
Coin Dealer Newsletter or CDN is continuously published from 1963.
The publication targets coin & paper currency dealers and professionals that want accurate and existing pricing information. They pride itself on offering unbiased and factual costing details based on the real coin dealer transactions. In addition, costing guide assumes that the coins are rightly graded by using the current industry standards.
Greysheet lists rates for major coins, world bullion gold, type coins, Proof sets, complete sets, bags, as well as US Mint sets, in various coin grades. These prices listed are the “bid” prices. And “bid” price is a price that dealers pay for this coin at a wholesale level. Thus, you will have to do the huge amount of business with the coin dealer for getting the wholesale pricing. Public doesn’t generally reach these required volumes and thus can get the retail costing.
Even though Greysheet will be the helpful reference when you are buying and selling coins, remember that the prices are the wholesale prices and imply various coin sales with very little or else no customer service to be involved. Suppose you have inherited the coin collection, or want to have this appraised or graded before selling, you must get Red Book that can help you grade, identify, as well as value the coins.
Greysheet publisher sells this newsletter by subscription; however you can buy the sample issue for over $40, which includes wholesale pricing for each coin minted. It is mostly recommended you buy the sample issue two times a year for majority of the collectors, only to have it as the reference.