“Unfair Pricing”; Robert A. Izydore, Reader Reactions, Numismatic News, 4, October 11, 1980. This year I returned to coin collecting after a 25 year absence. The biggest difference between now and then is that I must now purchase my coins as there is little or no chance of finding coins dated prior to 1965 in circulation. Also I find that there is a wide variety of uncirculated grades offered for sale, usually with a considerable price differential between these uncirculated grades. What I find disturbing is the fact that when I purchase a coin that is considered a modern single (1934-1964), the dealer usually consults his gray sheet for the BU roll price, divides this price by the number of coins per roll, adds a commission and arrives at the retail price. The retail price calculated in this manner is usually much closer to the MS-65 price. Since most uncirculated coins in an uncirculated roll are typical uncirculated or MS-60, most buyers are being overcharged for the coins they purchase. I would like to suggest that the BU roll prices quoted weekly in “Coin Market,” the gray sheet and other price lists be expanded to reflect BU MS-60 roll prices and BU-65 roll prices. Dealer-to-dealer transactions should also utilize separate MS-60 and MS-65 BU roll bid prices. The difference in price between these two grades is too much, even in the modern singles dates, to continue using a single BU roll pricing system. |
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