By far the biggest evolution in the rare coin business-even bigger than third party grading-is the movement of the market from the physical to the cyber. The internet has had the biggest impact on commerce relative to anything in recent human history. Despite this, the rare coin business was somewhat slow to adopt e-commerce. This is not all that surprising. Coins, like other collectibles, are physical objects that are meant to be enjoyed in hand. Many collectors want the opportunity to see a piece in person prior to making a purchase. Despite this, the evidence is abundant that a huge number coins are bought via the web: the amount of coins sold on eBay; the amount of live internet bidders in live auctions; and lower in-person attendance at coin shows are all examples of this. Access to data for the coin market has lagged behind in the technology department as well, primarily as it pertains to mobile devices. For many years, the only electronic version of CDN pricing was in the form of PDF files.
We have taken the first step to changing this by creating our online price guide at www.coinprices.com. This online price guide allows subscribers to quickly move between CPG, Greysheet, and Bluesheet prices for a given coin series. Many users have found this helpful. The next step in this process is the release of our CDN Pricing App, which we are very excited about.
The CDN Pricing App for your smartphone will be free for everyone and will include access to precious metals spot prices and CPG prices for both U.S. coins and currency. CDN subscribers, however, get a lot more. Using the same login credentials that are used on the Greysheet website, will have access to: all Greysheet pricing, all Bluesheet pricing, all Greensheeet pricing, depending on one’s subscription level.
Each coin pricing screen will offer quick access to Greysheet, Bluesheet, and CPG pricing side-by-side for quick access. Each coin’s catalog information-composition, mintage, etc-is also included. Historical prices in the form of charts is also available to subscribers. Like our online price guide, there are many prices included that do not appear in the printed newsletters, such as XF45, AU55, AU58, MS62, and more. We will continue to add pricing coverage going forward. Importantly, the CDN App will be updated daily and subscribers using the app will receive updated pricing data faster than the printed sheets.