By Mark Ferguson for Coin Values

In the wholesale market for coins, which is dealer-to-dealer trading, some dealers buy and sell coins through electronic trading networks.

The dealers who use these networks regularly post “bid” prices or the prices they are willing to pay for certain coins. Many bid prices are sincere attempts to purchase coins wanted by customers, but others are attempts to buy great bargains if willing sellers are found.

Participating dealers also post on the network “sight-unseen” bids, in dealer parlance, indicating a willingness to accept any coins graded by particular grading services in the grades they are seeking to purchase.