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Publishers Message (September 2021 Greysheet)
Published on September 1, 2021
Dealers need inventory, and they need depth. CDN Exchange provides the industry's top tools for dealers.
A member of CDN Exchange emailed me last week after using one our newest and more exciting features—the Deal Worksheet. This new feature is a game changer for dealers who get batches of proof and mint sets dropped off and need to quickly calculate their value based on Greysheet bids. The Worksheet takes all the hard work of building a spreadsheet by automatically preparing a report based on quantities and current bids, with user-defined multipliers (i.e. what percentage of bid) that you set. A local friend of mine dropped off a crate of these recently and I was able to create a report of 150 sets in less than 15 minutes. Truly an incredible time saver.
So, this CDNX dealer wrote to me that the “Deal Worksheet is great but many of the bids prices are all wrong. Most of them don’t match the Greysheet [magazine]. Please fix it ASAP.” My heart skipped and I sprung into action only to determine that the prices were indeed correct; they were higher than they were just two weeks earlier—a phenomenon we haven’t seen in the world of proof and mint sets for a long time!
These items are suddenly in demand and, where wholesale offers for these had previously been measured in “percentage-back of bid” terms, they are now more likely to sell at, or above, bid in the wholesale market. It’s a crazy world we live in when proof sets are popular. What’s next? Classic commems?
Nothing would surprise me in this market. Dealers need inventory, and they need depth. Major players like Rarcoa, CAC, APMEX and Littleton can’t fill their wants lists fast enough and demand is winding all the way through the market to the smallest of coin shows.
The other take-away from the story is that prices are moving quite rapidly in some areas. Using a static Greysheet has never felt more antiquated. I understand that we all love having the printed pages in front of us at coin shows and on our desks, but if you really want to stay on top of the market, you should really consider joining CDN Exchange. We are constantly improving the software and adding tools and members to make this the most important tab on your web browser.
As Patrick mentions in this month's Activity Across the Market, bidding has never been stronger on the Exchange and major players are starting to make their presence known. It’s not surprising to see dealers raise the market by 10% a day on certain items, and for just $150 a month you can be a part of our virtual bourse floor. If you want a harder sell, please call me and I’ll personally walk you through a demo.
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