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How Often To Update Red Book?

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Valued Member
United States
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 Posted 05/30/2019  1:24 pm Show Profile   Bookmark this topic Add 1962penny to your friends list Get a Link to this Message
Im wondering how often you guys get new value guides for your coins. I know many of you dont use the Red Book because it relays typically high retail prices for coins that you shouldn't necessarily expect your coins to command. All the discrepancies with the Red Book aside, how often do you update your price guides (whether you use a Red Book , blue book, or something else entirely)?
These books and price guides typically come out every year, but a lot of times most coin value have not dramatically changed in a year's time. So do you buy new books each year? Every five years, etc?
I am asking because my Red Book is from 2013 and I assume I should update, it being 6 years later.
Thanks for the input and I look forward to hearing everyones responses!
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United States
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 Posted 05/30/2019  1:57 pm  Show Profile   Bookmark this reply Add matthewvincent to your friends list Get a Link to this Reply
http://www.numismedia.com/
is decent for giving Fair Market Values.

My Red Book is from 2001!
Good for descriptions but bad for current values.

One situation in which a more current Red Book
would needed is if you collect modern issues.
Quarters and commemoratives for example.


Brother, can you spare a "BARBER" dime?
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406 Posts
 Posted 05/30/2019  1:58 pm  Show Profile   Bookmark this reply Add tampabaygrampa to your friends list Get a Link to this Reply
I went 2009 to 2018. I guess whenever you decide the information you seek is not in your "old" copy. I don't rely on mine for pricing but more general information like mintage numbers.
Edited by tampabaygrampa
05/30/2019 2:01 pm
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1026 Posts
 Posted 05/30/2019  4:19 pm  Show Profile   Bookmark this reply Add CitationSquirrel to your friends list Get a Link to this Reply
I've got an old Red Book that is really red from back in the 60's (my dads) and then I have a spiral bound one from the early 2000's (which my son drew in - long story). I'm asking for a new one for Father's Day. I use it mainly for information and a very rough pricing guide. I use other sources for detailed pricing.
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 Posted 05/30/2019  6:36 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
For about 20 years I got a new Red Book every year. I stopped about 10 years ago. I now buy a new Blue Book every year,

I've concluded it's better for me to know what a dealer may have paid for a coin, than what he may charge for one.

With the internet, it's really easy to find out what collectors are paying.
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 Posted 05/30/2019  6:42 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
If your an avid coin collector I would update to a new RedBook about every 8 years . My latest one is a 2016 Large Print Edition Spiral Bound . I use this book a lot for it's enlarge color photos and mintages .
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Canada
535 Posts
 Posted 05/31/2019  7:36 pm  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
My first Red Book was the 2017 edition. I'm aiming for every 5 years, but we'll see.
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 Posted 06/01/2019  07:11 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

just carl
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United States
2 Posts
 Posted 06/01/2019  6:31 pm  Show Profile   Bookmark this reply Add IHC73 to your friends list Get a Link to this Reply
just carl, that's a stunning collection. Love the deluxe version you have there, I have mine here with me too. It's a great resource despite being a few years old.
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 Posted 06/01/2019  6:42 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
My RedBook is a 2012 edition, still perfectly OK for my purposes.
If I need more up to date information on prices, I do a keyboard search, which happens only rarely.
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 Posted 06/01/2019  7:03 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I know many of you dont use the Red Book because it relays typically high retail prices for coins that you shouldn't necessarily expect your coins to command.


As far as using it for pricing that really isn't the issue, the biggest issue is that by the time it's printed it's already outdated. Price guides can and do change and a once a year publication that only covers certain grades, ignores graded vs raw, ignores grading company, ignores CAC or not if applicable etc is just not accurate enough for numismatic pricing to really be concerned about it.

One of the hardest things a collector needs to learn is when to go over guides as the best coins almost always sell for more. Simply being more expensive doesn't necessarily mean better, but if you end up being a slave to the price guides there are many areas where the best pieces will pass one by.

That said the only real reason I see to update a RedBook is to get one that has the new modern coin information. Pretty much anything post 2010 I would say is good enough for a quite a while but if someone really wanted the ultra modern info in it than probably every 3 to 5 years unless they enjoy getting them every year. I like ultra modern coins myself, but it's easy enough to find the same info on the internet and save the money on the book
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 Posted 06/01/2019  7:25 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The new Red Book each year is hardly the much-anticipated event it was when I was young. I refer to a 2012 edition once in awhile for mintages or background info, but that's about it - can't imagine buying another. The MEGA RED is a different story - only have one, but browse through it often.
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 Posted 06/01/2019  10:00 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
So how does the Mega Red Book compare to Breens Encyclopedia. Yeah, I know Breens is from 1988, but how does the format compare to the Mega RB?


I've never seen a Mega.
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 Posted 06/01/2019  10:07 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
So how does the Mega Red Book compare to Breens Encyclopedia.


I would buy anything Mega Red Book over anything Breen 200 times out of a 100.

At least with the Red Book you don't have to worry about made up stories and I will never buy anything with Breens name on it from what he did to children
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 Posted 06/01/2019  11:30 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
My newest is 2014.

My next one will probably be a Mega Red.
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 Posted 06/02/2019  06:11 am  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply

Quote:
At least with the Red Book you don't have to worry about made up stories and I will never buy anything with Breens name on it from what he did to children



So I take it you don't own a Bible.
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