teletype: an electronic system that allows coin dealers to communicate and trade with each other.
tensor light: a special bulb used to grade coins. Tensor bulbs are usually brighter than incandescent but not as blinding as halogen.
White slabs were then trading on teletype at 10% to 20% higher prices than their clear sisters in allegedly identical grade.
As a reporting agent, The Coin Dealer Newsletter for years faithfully monitored activity on the teletype circuit, reporting the highest offers, or bids, for a particular coin or series.
He moved to Chicago in 1924 and began working for Teletype Corporation, while he continued his education at the University of Chicago and Chicago's Armour Institute, which later became part of the Illinois Institute of Technology.
"BID: What dealers pay for coins, generally through other dealers on Teletype, which will sell immediately."
"SELL: Average price realized for a coin sold at retail."
A 1992 listing contained the following spreads, as examples: ...
 See also: Numismatic, Coin, Copper, Dealer, Grading
  
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