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Are Krause Prices Just Plain Bunkum?

 
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Author Previous TopicReplies: 14 / Views: 371Next Topic  
Valued Member
Australia
205 Posts
 Posted 10/25/2021  03:00 am Show Profile   Bookmark this topic Add MachinMachinMan to your friends list Get a Link to this Message
According to 2019 Standard Catalog of World Coins almost every Indian coin since they became a Republic is worth $1 to $4 in VF. As much as I'd like this to be the case, it's just another example of the coins from some countries being priced way too high while other countries are way too low.

What is the point of going to the trouble of giving prices for every single world coin when they are just bunkum?

I know silver coins will fluctuate with the price of silver, but I'm talking about base-metal coins on the whole.
Edited by MachinMachinMan
10/25/2021 04:09 am
Pillar of the Community
United Kingdom
9622 Posts
 Posted 10/25/2021  03:50 am  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply
I don't think Krause is especially accurate as a price guide for World coins, particularly from those countries whose coins are not widely collected in the USA. I also find quite a few coins are undervalued - some French 5th Republic coins of the 1980s and 1990s had extremely low mintages and are sold by French dealers for hundreds of euros, yet have very low values in Krause.

With regard to the prices for common Indian coins, it must be borne in mind that these are dealers' selling prices, not the price a collector is likely to get for a coin when selling it to a dealer. If a dealer puts a coin in a 2x2, labels it and puts it on display in an album or cabinet, he will probably need to sell it for at least $1 to cover his costs.
Edited by NumisRob
10/25/2021 05:48 am
Valued Member
Australia
205 Posts
 Posted 10/25/2021  04:12 am  Show Profile   Bookmark this reply Add MachinMachinMan to your friends list Get a Link to this Reply

Quote:
If a dealer puts a coin in a 2x2, labels it and puts it on display in an album or cabinet, he will probably need to sell it for at least $1 to cover his costs.


I understand that, but according to Krause coins from places like the Cook Islands which have extremely low mintages are worth 10 cents in XF. There doesn't appear to be much logic to how Krause comes up with their prices.
Bedrock of the Community
Australia
19265 Posts
 Posted 10/25/2021  05:43 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I have six Krause World catalogs:
-4 x World coins covering the last 4 centuries
-World Gold coins
-World Crowns
They are an invaluable photo resource. However,
these days, almost as easy to use Google Images, searching for the subject coin.

Values can provide information relative to each other, but if you are in the market, it is essential that you research current prices for equivalent coins and conditions.

Krause World Coins certainly not bunkum. A huge amount of work over many years was put into their compilation and publication, and I am indebted to that effort, especially before the advent of the Internet.

I agree with NumisRob re pricing.
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United States
5149 Posts
 Posted 10/25/2021  09:04 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
In my limited experience sometimes the prices are on target and other times they are not.

The best way to know the current value of your coins is to do a "sold items" search on eBay (common coins) or to look at recent auction sales (more valuable coins .... of course there is overlap between the two methods).



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Australia
3393 Posts
 Posted 10/25/2021  09:46 am  Show Profile   Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
IMHO - it has only been the last 10 years that most world coin prices have gone significantly through the roof.

This is more pronounced after the GFC - perhaps people are wondering where to put their money and coins are one of them.
My partial coin collection http://www.omnicoin.com/collection/gxseries

My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month.
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United States
1730 Posts
 Posted 10/25/2021  09:56 am  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Catalogs are best used for information on mintages, the physical parameters of coins and the existence of varieties. For up-to-date price information, use online sources.
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Canada
4321 Posts
 Posted 10/25/2021  1:29 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
As I understand it, at least how it used to be, Krause had specialists in different countries that assigned prices (retail) to the coins. In recent years I suspect that there has not been much updating, and errors crept in which were not corrected in subsequent editions. So while it is still a great source of valuable information, any critical information (that is, involving significant cost) especially on prices needs independent confirmation.
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United States
3578 Posts
 Posted 10/25/2021  1:51 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Remember, the last updates are from 2018 before the bankruptcy.
-----Burton
47 year / Life ANA member (joined 12/1/1973)
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Member: TNA, FtWCC, NETCC, OnLinw Coin Club
Owned by four cats and a wife of 37 years (joined 1983)
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Australia
986 Posts
 Posted 10/25/2021  4:12 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply

Quote:

Krause World Coins certainly not bunkum.

I believe the OP indicated the prices listed in Krause were bunkum, not the entire catalogue. Interestingly there is a coin dealer down the road who said his prices are 20% less than catalogue prices. I think he meant Renniks but hopefully he uses Krause non non-Aus coins. Might get some deals. Only problem is he only opens shop on weekdays so us full time M-F employees never get a look in. :-(
Bedrock of the Community
Australia
19265 Posts
 Posted 10/25/2021  6:10 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
In the last year or so, the value or price of just about everything I own has skyrocketed: classic cars, coins, gemstones, real estate, stock and shares. Suddenly, the cost of living has shot up. The only thing that hasn't is cash.

Krause values as published in books have become largely irrelevant.

Perhaps we are at the beginning of a period of World inflation, and the real value of the above assets has not increased at all.
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Canada
4089 Posts
 Posted 10/25/2021  6:15 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Like any written catalogue , use only as a guide .
Out of date pricing as soon as they were published .
Finding proper world coin pricing is rather difficult unless
one is prepared to do lots of research , leg work etc .
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United States
435 Posts
 Posted 10/26/2021  10:39 pm  Show Profile   Check Lancek's eBay Listings Bookmark this reply Add Lancek to your friends list Get a Link to this Reply
I use NGC online world coin price guide. They are based on Krause data, but updated continuously. Also show metal content and melt value based on current precious metal prices.
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Australia
19265 Posts
 Posted 10/27/2021  03:03 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I didn't know that the Krause coin value data on-line had been updated from time to time; thanks for the info.
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Australia
3343 Posts
 Posted 10/27/2021  06:02 am  Show Profile   Bookmark this reply Add triggersmob to your friends list Get a Link to this Reply
I prefer online coin catalogues these days. They can be kept more up to date.

https://www.NGCcoin.com/price-guide...duid-1583773
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