SPECIAL FEATURE: Letters to the Editor
This month we have a rare opportunity to share some recent messages we have received from readers. Subscribers are reacting to the many pricing changes and layout improvements we’ve
been making. Please email us at: firstname.lastname@example.org with your feedback.
~ ~ ~
As a long-time classic commemorative collector, I looked forward to your new expanded listing of these commemoratives by mint within each year for the Texas, Boone, and other multi- mint/year sets. I also applauded and shared your hope that this would renew interest in this beautiful, historic set of U.S. coinage. I was disappointed to see the sharp price decreases for some of the issues on December 18th. For example, the 1935 Texas issue in MS65 was previously bid at $700 for the three piece PDS, set or about $233 per coin. The December 18th new breakout shows $175 per coin for MS65s. This represents a 25% drop in one week. Is this a mistake? Because when I look at the PCGS grading guide, it shows the PDS at $220 each or a total of $660 for MS65s. Which seems closely aligned with your December 11th $700 for the entire set. PCGS lists the MS64s at $170 each. Was an error made in placing the prices one column over? Greysheet bid for all three coins in
MS66 is now $710, should this be your MS65 values? I realize this is not the case for all these issues. And hopefully this is an error in the Texas values that can be quickly corrected. If not, it gives the appearance of a covert way to drastically reduce Texas values without many collectors/dealers noticing.
ed: When we attended the FUN show last week, we received a good deal of feedback regarding the updated pricing of the 144-piece commemorative set. Folks like yourself were also a bit alarmed by the amount of price decreases for the better dates in the series (that had previously been part of 3-piece sets). The reason for this is pretty straightforward. First, the pricing of these sets hadn’t been reviewed or adjusted in years. We cannot say why exactly, except that the pricing of 3-piece sets is generally an exercise in futility. These sets rarely, if ever, trade in the same grade and the
idea of determining a value for three disparate coins in one set is almost absurd. When we set to review the prices “sets” this difficulty was quickly apparent because one has to determine the value of the individual items (trading separately) to create the set
price. When we did this, we quickly realized that the set prices were WAY off. Of course, we knew this to be the case, as many dealers had given us this feedback over the past few months. We therefore went through he process of determining market values for every single coin in the 144-piece set, and to publish values in this manner. Collectors and dealers can now determine the value of a set in disparate grades (like MS65,MS66,MS64) with ease. In answer to your question about the precipitous price drop on some sets, like Texas, or others, the answer is simple. The market has changed on these items, and the Greysheet is merely reporting the values as we see them in the marketplace. We do not review “PCGS” or “Coin Universe” pricing in our determination,
however, even the values you suggest support the thesis that we are accurate. One must understand that Greysheet is a wholesale pricing guide and PCGS is a retail pricing guide. Surely there must be some spread between the two guides. Finally, I can assure you that everything we are doing at CDN is an effort to show transparency in how we determine market prices. That’s why we display big plus and minus symbols in columns to show price changes. Also, we blog about this topic quite frequently, and plan to lecture on the topic at future education forums at major coin shows.
Is there any way Greysheet can give an option like in the olden days to just click a button saying we don’t want the advertising in there [online download edition]. It just seem like a waste of time to go through every week in Adobe to click the pages wanting to print. If not, I don’t like this new particular change. Thank you. Ryan.
ed: I understand the frustration but advertisers are a very important part of our business. They essentially subsidize the subscription cost for everyone and they were not happy that we weren’t including their ads in the download PDF’s. It’s a minor inconvenience for you to print the pages you want specifically — sort of like fast-forwarding through ads on the DVR. We hope you will read our advertisers’ messages, but it’s up to you of course.
Although I am just a collector of US Coins, mostly modern era, I really have liked the changes in the Grey Sheet. I’ve been thinking about selling some of my coins, and the possible prices I could get assist me in my decision to sell coins or not. Thanks so much
for the updates. - John C.
Ever since you took over of the CDN publishing, the quality, formatting and understanding of your publications, have been a major improvement. Keep up the good work. Thanks, Joel F.