"Back of Bid" or "Back of Grey Sheet"

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RoyNajecki
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"Back of Bid" or "Back of Grey Sheet"

#1 Unread post by RoyNajecki »

From time to time I've heard the phrase "Back of Bid" or "Back of Grey Sheet" on some YouTube content. The phrase is never explained but from the context I gather it means "Less than Bid" price or "Less than Grey Sheet" bid price. So I wonder about the origin of the phrase and why use "Back of ..." rather than the clearly understandable "Less than ...".
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Daniel
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Re: "Back of Bid" or "Back of Grey Sheet"

#2 Unread post by Daniel »

Back of bid is less than the Greysheet price.
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Re: "Back of Bid" or "Back of Grey Sheet"

#3 Unread post by Westin »

This is also used on bullion. "Back of" means less than, "over" means more than.
Ex. "We buy generic silver rounds a dollar back of spot."
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