Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Exaggerations In Red Book?

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 7 / Views: 521Next Topic  
New Member

United States
26 Posts
 Posted 05/29/2022  1:49 pm Show Profile   Bookmark this topic Add Goldeggsandham to your friends list Get a Link to this Message
I know the Red Book isn't up to date with values of coins but some seem overboard. In the 2022 75th edition, MS-65 steel pennies are listed in the $1200 range. On the other hand, I see people selling those pennies, slabbed by NGS and PCGS, in the 20 to 40 dollar range. Have any of you ever noticed other exaggerated values in the Red Book.
Bedrock of the Community
Learn More...
United States
17745 Posts
 Posted 05/29/2022  2:22 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
To CCF , the prices for MS-65 steel cents in the 2022 Red Book are way off the charts ( error in RB ) . A 1943-P Lincoln in 65 should be less than $100 . Even MS-67's go for less than $300 .

In Memory of Butch L.
and Jim U. rest in peace .
Bedrock of the Community
Learn More...
United States
70194 Posts
 Posted 05/29/2022  6:28 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The Red Book is far more useful for its wealth of information than the pricing guides.



to the CCF!
New Member
United States
26 Posts
 Posted 05/30/2022  2:09 pm  Show Profile   Bookmark this reply Add Goldeggsandham to your friends list Get a Link to this Reply
Thanks... though I still wonder about other inaccuracies in the book.
Moderator
Learn More...
United States
114743 Posts
Bedrock of the Community
Australia
19834 Posts
 Posted 05/31/2022  09:58 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
All pricing guides base their values on auction records, which can vary greatly, and which may also not be up to date at the time of compiling the pricing guide.
That is still OK, because having a slightly inaccurate pricing guide is way better than not having any pricing guide at all.

Even if a pricing guide is years out of date, the relative pricing of coins within a condition range is still useful information. Some knowledge of compounded yearly inflation rates can provide some help to update to today's pricing, but the inaccuracy factor still widens for increasing years in pricing projections.
My tactic is to look at old catalogs, recalculate for inflation, then cross check where I can with equivalent current pricings of similar coins that are available for sale.
The old pricing catalog provides all of the detail in between, which then can be re calculated for a particular coin, which one may be considering to buy or sell.

Discussions such as the one we are having here help to highlight some of the inaccuracies found in current catalog pricings.
Pillar of the Community
Learn More...
United States
3650 Posts
 Posted 06/01/2022  1:51 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
There is also a huge time lag with ANY printed guide, plus the common publication creep.

The 2022 Red Book was released in April 2021
Went to press in Jan/Fed 2021
Prices were collected in 4Q 2020
-----Burton
48 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, OnLinw Coin Club
Owned by four cats and a wife of 37 years (joined 1983)
Pillar of the Community
United States
696 Posts
 Posted 07/13/2022  02:57 am  Show Profile   Bookmark this reply Add NumismaticsFTW to your friends list Get a Link to this Reply
Last I heard Jeff Garrett is behind pricing everything.

  Previous TopicReplies: 7 / Views: 521Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2022 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2022 Coin Community Forums
It took 0.3 seconds to rattle this change. Powered By: