Sometimes, a weekly column focused on details of the market like this one appearing in Coin World needs to take a step back and discuss the basics.

It seems that the public dialogue about coins has increased recently, bolstered by high precious metal prices and a ready supply of people eager to exchange assets like coins for quick and easy cash.

Unfortunately, as one news story appearing on Page 1 of the July 12 issue of Coin World reveals, many people are choosing to sell their coins to national traveling buyers, often temporarily located at hotels, and some consumers are being ripped off.

What is equally frustrating is that a wealth of pricing information on the coin market is available for consumers in periodicals like Coin World's Coin Values and books such as Coin World's Guide to U.S. Coins or A Guide Book of United States Coins, best known as the "Red Book" – all of which are widely available at bookstores.

The prices in Coin World's Coin Values are retail prices – that is, where a willing buyer can expect to buy a coin from a willing seller at the retail level. In other words, the prices reflect what you can expect to pay at a local coin shop or at a show.

The difference between wholesale and retail is baffling for collectors and those outside of the hobby, because for coins, separate price guides exist for these two very separate markets. Wholesale prices, as reported in publications like the Coin Dealer Newsletter, or "Grey Sheet," are for dealer-to-dealer transactions.

Wholesale markets are useful to follow in that they often react to market forces much quicker than the retail level.

Yet, wholesale prices often get confused with retail. An article in a recent appraisal publication wrongly suggested that wholesale "bid" and "ask" prices accurately represent what the public can sell and buy coins for at a retail market.

Unfortunately, understanding the delicate balance between buying and selling prices is not easy, but understanding what retail prices are will prevent consumers from being egregiously taken advantage of.