Viewer Mailbag - Why Don't Dealers Use NGC / PCGS Price Guides? ...and Other Questions

[@jasonlovett5536]

I love the Tool reference.

[@joe.g5176]

I love the connection with that song. I knew it right away when you started saying it I wish they played it more on the radio. PS I love your videos. I watch them all the time. Keep up the good work.

[@thedaveandjimshow3809]

A real dealers dealer. Have heard nothing but good things about Old Pueblo Coin.

[@robertfrye5161]

the Carson City show used to be in the old CC mint it was in the late 90's to 2005. Very interesting place, the dies they found buried in what is now the parking lot and there was a complete set of CC 420 on loan from a collector

[@thedaveandjimshow3809]

One break...coming up! Keep up the great work Ben!

[@jbohanon2]

I recently purchased a proof coin from the 1860s. Known mintage is 600, but the combined PCGS and NGC certified pops was a little over 600. I realize that's probably crackouts, but you're almost certainly right that almost the entire mintage of proof coins was saved.

[@rasbobbo]

Taking all your CCs so they can see where they were born?

[@surfatone1986]

Hi Ben, I love your Star Wars helmet shirt. Carole

[@TheCoinGeek]

Thanks- happy Father’s Day to me !

[@thedaveandjimshow3809]

PCGS and NGC prices are super high retail. When I got into the trade, first as Metal Therapy, I used prices in a magazine and that was a mistake. Was bidding and buying online. Winning every auction with those prices. Use Greysheet as a guide. They are all just a guide.

[@user-ql6ed2tt7m]

Thank you for answering my question I have always wondered why dealers only use the Greysheet by the way my name is Daryle and I’ve been to your store several times. Thank you.

[@davidbell9130]

wait a friggin minute-dealers do use those price guides only when they sell to collectors, they are crooked for the most part

[@brucetelfeyan]

You are right that there are lots of places to go for numismatic information, but this is the very best of them all!

[@TheCoinGeek]

Wow, thanks!

[@zachschindel3181]

Definitely the best.

[@kaceydillin7367]

Well, all I can say is…learn to swim! 👀 Great video

[@TheCoinGeek]

Yup

[@user-yh6ej9wj6z]

Thanks for the TOOL reference made my day Ben

[@joshuahsimons9587]

I got a 2009 D Formative Lincoln graded in 2017 by PCGS they graded it MS67 it was worth $1,500 at the time then people started selling some at like 200 they totally destroyed the value now it’s worth 140

[@57Koba]

Yes, PCGS price guide says my 39 proof Walker in 67 is worth $1600. I wish they would pay me that for it. Greysheet is around 700.

[@homerj806]

PCGS and NGC are selling a service. Their "price list" is really advertising telling would be customers that their coin could get this much if they use their service. Always be suspicious when a grading company "price" their own product.

[@kerryruggs6109]

Some say a comet will fall from the sky

[@joshuahsimons9587]

I have a problem with business strikes & bullion coins both being called MS. Business strikes r worth way more BS should also b on the label

[@geranth]

Thanks for all the great content Ben! I appreciate the TOOL reference:)

[@kevinpoggensee]

Hey Ben

[@EricBynog-zd4rd]

I totally disagree with that thought there are enough research to get a base line for coin pricing in certain grades there should be enough data out there to get a basic price for common date common grade coins I honestly think a lot dealers don’t want a structured price schedule they want the Wild West always remember just because a buyer over pays for a coin does not now make those coins worth that amount also if auction happens and guy get coin dirt cheap suddenly those coins are not cheap this is the main issue why more people get out of coins because they get burned a dealer over charged them for coin they go sell it 5 years later only to realize they got burned all dealers are guilty of what they don’t know won’t hurt them dealers are a lot like politicians hard to trust

[@user-oh2hs6jh5x]

hi ben

[@davidvandebrake8454]

Hey Ben . I'm just curious as to why as a member I can't comment on most of ur videos. Great video as always I learned alot .

[@TheCoinGeek]

Huh, my videos are set to accept comments: I don’t know what stops you.

[@davidvandebrake8454]

@@TheCoinGeek I can screen shot it but I'm not sure how I would send it to you . But on most of your videos for some reason it won't let me leave you any comments. And I watch all your videos Ben I've learned so much from you but can't comment . It might just be a technical issue. I'm wondering if anyone else has this issue .

[@zachschindel3181]

Make sure you are swiping to comment and not live..? Maybe?

[@DE-gb3wq]

I think pcgs and ngc price guides are for insurance purposes.

[@TheCoinGeek]

That could be a use 🧐

[@WOCassity2]

If NGC and PCGS were to put their money where their mouths are on the price guide for what they would buy their own coin holder back for, I bet those prices would be below bid by about 30%

[@user-ql6ed2tt7m]

I have always wondered why dealers don’t use the PCGS and the NGC price guide when they look at coins they always use the graysheet. Why is that?

[@indivisibleman8596]

Because dealers think they are entitled to buy at half price

[@wmelville14]

See ya down in Arizona Bay

[@williamgoff3154]

I am confused about the purpose of graysheet. I wanted to sell to a couple of dealers and each offered less than graysheet. I always thought graysheet was the lowest cost between dealers. Why are dealers offering me nearly 20% less than graysheet. Those dealers left me confused and angry.

[@sirsoda8337]

Typically greysheet prices are around what a dealer expects to get for a coin wholesale, and most honest dealers make around 10-25%.

[@TheCoinGeek]

Grey sheet tried to maintain accurate pricing on dealer to dealer pricing- but a dealer can’t buy at greysheet and sell at greysheet and stay in business. IF they actually can sell every coin they buy at a retail number then they can afford to pay greysheet …. But that is making a lot of assumptions about what the public is willing to pay for coins. Many members of the public want to buy also at greysheet for more common coins . None of it is set in stone

[@morgansinner]

YEE HAW 🤠

[@667hodge]

I guess Maynard would rather be in the Arizona bay than LA

[@TheCoinGeek]

😉

[@johnadcock8523]

Tool!

[@TheCoinGeek]

Someone is catching on!

[@rogerkinard7446]

Si, it’s Ocho Reales, for reals, for reals; at least according to the #1 DODGERS’ fan, George Lopez ! However I thought one should always say: this coin trades for ______ , rather than this coin trades at ______ . Therefore, at ease, Ben, “The Coin Geek.”🤓 ⚾️⚾️⚾️ ROGER, The LOS ANGELES DODGER

[@michaelgoodspeed846]

Hi Ben

[@user-oh2hs6jh5x]

Gotcha this time Speedy!

[@GardenerEarthGuy]

Will Devo ever play more shows?