Accuracy Of Krause - Coin Community Forum

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Author	Replies: 6 / Views: 977
NumisMattyUk Pillar of the Community United Kingdom 2217 Posts	Posted 01/14/2008 10:31 am Just bought a Krause with my Xmas money on Saturday and I must admit I am quite impressed with this much-touted tome - lots of useful information and helpful guides to reading and identifying mysterious pieces.. :) Looking at the valuations, it looks pretty accurate in its cruelty towards the boring coins that aren't worth too much. I was just wondering how accurate is this book on the whole? I thought the prices would be silly as in some Yearbooks but having studied it thus far I find it to be quite good - I would say if you are buying on the internet just knock off a little bit i.e. pay about 75%-90% on average and you will be fine, investment-wise. However are there, apart from seasonal fluctuations in coin prices due to changing popularities - any major accuracy problems at all with regards to its pricing schemes, or would you say this is a good guide to values and that the prices are (fairly) close to the true price you should pay i.e. no the 'top dealer prices' but the lower ones that I prefer to pay that you see in (131231) Not Allowed - Auto-Removed ? What say ye'? And thanks :D Report this Post to the Staff

cladking Pillar of the Community United States 2270 Posts	Posted 01/14/2008 11:42 am Accuracy and listed prices are a booby trap for the uninitiated buyer or seller. The first and most important thing to remember is that these prices are loosely based on the home market prices in many cases and home market grading is far stricter than ours. Some of the things we call BU are VF in the home country. Then prices are reviewed only every several years. A lot of them are up sharply since the previous price change. Krause hates some countries and loves others. If you're buying one they love then you're paying very speculative prices. Pricing can vary from 10% to about 250% of actual values. Coins like a 1974 Irish 50P can't be had for less than $20 normally but Krause has it priced at about $2.50. As with all collecting you need to go slow with world coins until you know what they're really worth. You'll be able to find lots of great bargains if you're a beginner or advanced collector. Time don't fly, it bounds and leaps. Report this Post to the Staff
NumisMattyUk Pillar of the Community United Kingdom 2217 Posts	Posted 01/14/2008 12:51 pm It sounds very rocky to me...looks like a good reason to start specialising a bit then, as only that way can I learn the 'true' value of the coins... Report this Post to the Staff
snowman Pillar of the Community United States 1840 Posts	Posted 01/14/2008 1:34 pm edited because I realized this is in the US coin forum Krause only scratches the surface of US coins. In a quick comparison with the online PCGS guide (which is almost always high) the prices for the median-grade coins is close. You may want to go lower than 90%. Edited by snowman 01/14/2008 1:51 pm Report this Post to the Staff
NumisMattyUk Pillar of the Community United Kingdom 2217 Posts	Posted 01/14/2008 2:06 pm It's not too accurate for UK coins either, I don't think. But as a reasonable sort of guide... Report this Post to the Staff
Topher Pillar of the Community Canada 965 Posts	Posted 01/14/2008 3:00 pm I know that there are a few values that are WAY off, but it takes someone well versed in that particular coinage to pick it out. It's not something that the average person would notice. I forget where I saw those, though. I'll have to look around, as I'm sure I bookmarked it or saved the html or something. Geez, you'd think a hoarder like me would be organized or something! LOL Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 01/14/2008 4:26 pm Try to remember that all coin books, magazines, booklets, etc are great for informaion. Any prices they list are from great to horrible. The reason is obvious. There is no manufacturers list price on a coin. They are what someone will pay for them. Unlike a chair from a furnature store with a Thomasville lable where there is a suggested price, coin just don't have that feature. Any book could say a coin is worth $1 and you try to buy it for that and find they sell for $100. Same in reverse where someone says it is worth $100 and you couldn't sell it for $1. If no one wants to buy a coin it is now worth nothing. If many people want to buy it the price sky rockets. Look at the famous Red Book. The latest version 2008 came out about April of 2007. That means it was being compiled many, many months prior to that. So unless the publishers are clarivoyant, their prices are just a joke. So if that book is full of coin information that you need, want and can use, your OK. Just don't try using that or any other for a price guide. Report this Post to the Staff
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