COIN PRICING
Regarding the "Greysheet" and other pricing guides, published prices are never the final word on pricing coins. Rather, such prices are merely a summary of a tiny percentage of the thousands of rare coin transactions made each week. At coin shows, auctions, and other venues, coins can sometimes sell for well below or well above published prices, depending on the seller's need for cash or whether a seller is over-stocked or under stocked. As one of many examples, we once purchased a hoard of 1,000 1887-O Dollars, an original unopened bag. Most graded MS 63 to MS 64, but some of the dealers we supply couldn't use more than 2 or 3 coins for their inventory, so naturally we had to lower the prices to disperse the hoard. Of course, the folks at the Greysheet and other pricing publications didn't monitor these transactions, nor could they. And neither can they monitor the thousands of other transactions that occur every day at on-line auctions and every week at coin shows throughout the nation. The Greysheet and other pricing guides are a good guide to the extent of their own inside knowledge, but their prices are not set in stone as prices very much depend on supply and demand outside of their immediate knowledge. More importantly, prices depend on how liquid a dealer needs to be to meet their expenses, and how immediate their need for cash is. Just like any other commodity, dealers are often willing to sell below market prices if they have too much of a given item and are in need of cash. Conversely, a dealer may ask much more than "published prices" if they are in no hurry to sell, or if they recognize that a coin hasn't traded in a long time, and thus may be underpriced. If a dealer tells you that they always have to get Greysheet or over for their coins, it may be time to find a dealer who knows how to bargain and is willing to be flexible based on their supply and demand. We wholesale our coins to the public because we are running a business, not a museum. After visiting dozens of coin shops over the past 30 years, we've learned that coins just sit around and collect dust if they are not priced to move. We cannot buy unless we sell, so we keep our prices as low as possible for as long as possible. We do this by avoiding a lot of expensive "Slabbed" coins that are often over-graded or over-priced. We also have always avoided having high-salaried salespeople with expensive cars, expensive offices and plush coin stores. We believe that we keep our overhead lower than most dealers and thus can operate on one of the lowest profit margins in the business. We can then past the savings along to our customers.
We can email scans only if the value is $5,000 or more, but we recommend that you always view the coins in person, using our 14 day return privilege. Scans, no matter how good, can never fully recreate the actual three-dimensional qualities of a coin. Also, due to time constraints, it would be impossible to scan each and every coin that comes in and out of inventory each day. Regarding our own experience with scanned photos on eBay and other auction sites, we have had to return too many over-graded but "well-scanned" coins, and have heard too many similar horror stories from our customers. The simple fact is that a scan can never capture accurately the three-dimensional qualities of a coins strike, luster and toning. If this weren't bad enough, many sellers tend to manipulate the luster, toning, and even the sharpness of a coin through their scanning programs. We both lose if we over grade a coin, and that's the last thing we want. Long before the advent of "photo scans" we bought and sold coins the good old fashion way: Properly graded with a full 14 day, no-questions-asked return privilege. Today, this time-tested tradition continues. Our satisfaction rate has remained over 99% since 1979. We want you to be happy, tell your friends, and make them happy too. This is how we have built our business of more than 65,000 satisfied customers worldwide over the past 28 years, and we hope to add you to our growing number of repeat customers.
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