Bid and Ask

[Mzjavert]

I've heard these terms used in relationship to the gray sheet. I have no idea what they mean. Anyone got a basic explanation?

Thanks.

 

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[Diver_Down]

Bid = What a dealer might pay either direct from a seller or wholesale from another dealer.
Ask = What a dealer might expect to sell an item for to the customer.

The difference is the profit margin for the dealer. They have to pay their overhead (insurance, electric, payroll, etc.) out of this margin.

 

[Mzjavert]

Well that's simple enough. Thanks for the explanation

 

[waseeker]

Bid = What a dealer might pay either direct from a seller or wholesale from another dealer.
Ask = What a dealer might expect to sell an item for to the customer.

The difference is the profit margin for the dealer. They have to pay their overhead (insurance, electric, payroll, etc.) out of this margin.

Here is a blurb right out of my copy of the CDN. The prices in the Newsletter are from Dealer-to-Dealer transactions. As an investor, you may buy and sell coins through a dealer for a fee.

So while they will allow anyone to subscribe to their service they are telling you that you shouldn't expect a dealer to go buy the prices in the newsletter because they are "only" dealer to dealer. In actual practice I've found that most dealers sell to the general public (Collectors) at or close to the Ask price.