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 Replies: 11 / Views: 3,455 |
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Valued Member
United States
455 Posts |
I've been using the Red Book for years. I probably have around 10 of them, oldest one is from 1975. I had one from 1969 but I don't know where it went, must've tossed it years ago. Anyway, is there any point in buying the Blue Book? I'm getting a sense that red is for asking prices, and blue is for bids. I love to buy coin books, but Is there any point in owning both books? |
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Moderator
 United States
6563 Posts |
RedBook is a listing of somethings worth Bluebook is a listing of what something actually sells for per my understanding at least. I need to get on myself when I get a chance.
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Pillar of the Community
United States
1173 Posts |
Red Book is retail (close to what you'll pay at a coinstore); Blue Book is wholesale (close to what a dealer will give you for your coin). Both are out of date by the time they are published. Use them as guides, not as absolutes. Grey Sheets will give you the most current prices.
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Pillar of the Community
United States
834 Posts |
TS. In my opinion the Red Book is only a very good reference book on the history of our U.S. minted coins, the grey sheet would be the best way to get a true value of a coin. Bruce. |
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Bedrock of the Community
United States
14454 Posts |
there are also cases where the greysheet has to be thrown out the window while buying because some coinage is so far above what greysheet says it should be
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Valued Member
United States
167 Posts |
Red Book is for retail prices and Blue book is for what the majority of dealers will pay for you coin(s),set(S), another place I found for suggested current retail is PCGS's web site under there price guide. The thing that I do before bidding on any sets is watch what people are paying for them and then enter the data in a spreadsheet. I do this so I can obtain a minimum, average and Maximum price. I normally always bid the average especially when have over 25 data entries for an item. I have both 2008 blue and red books.
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Pillar of the Community
United States
834 Posts |
Bryan makes a good point, I did not think of and what he says is true on some coins.That is why it is always best to be sure to do some research before you buy any coins or come here and ask the members here for advice. There is always a true value of a coin so why pay more if you do not have to.
Bruce.
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Valued Member
 United States
455 Posts |
Good information guys, thanks. Maybe I will buy one.
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Bedrock of the Community
United States
20753 Posts |
Basically what has been said so far is what used to be, not what is presently the case. The latest Red Books are way off the wall with prices being excessive in practically all instances. The Blue Book is also becoming joke and is from what I see the most unused book on the market. The Red Book USED to be sort of the Bible of coins. I collect them and have all from the 8th Edition to present. The Red Book has become rather a joke of late with the production of a bok with a date almost a year in advance. Note the 2007 came out almost at the beginning of 2006 and the 2008 has now been out for months and this is 2007. The prices listed for just about anything in that book will be completely outdated but the middle of this year. How could anyone predict the value of a coin a year in advance? In the old days I would evaluate my entire collection based on the Red Book. Today I can't do that since the prices are so rediculous and no where on Earth could I ever receive anywhere near what that book shows for values. Also, if you do buy the latest versions you'll notice lots of errors. I usually send messages to Whitman about those but most are still there edition after edition. As noted it is a great book for information although more and more info is being left out. When I asked Whitman about the omission of some of information I was given a list of other books to buy that would cover that. Sort of like if you don't like our book, go somewhere else. As I've said it is a great book for information for basics only and even as Whitman now tells me if I want to really know things, go somewhere else. Sorry about the long answer but I got a little ticked off when I attempted to help and was told basically no help wanted, go somewhere else. |
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Valued Member
United States
459 Posts |
Unless you collect Red/Blue books...I would save your money and subscribe to the sheets...Or do what I do and just ask your local dealer for Greysheets that are a month or two(or 6) old they are as accurate as either of the hardbacks and usually free...they can also be picked up off the Bay for a few $$.
Edited by Benji
05/26/2007 9:04 pm
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Pillar of the Community
United States
751 Posts |
Since you "love to buy coin books," I would say add one to your collection. But as to its utility, see the comments in this thread: https://goccf.com/t/14524 |
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Bedrock of the Community
United States
20753 Posts |
You may want to read the latest post called Red Book Error Forum. What a shame that was once the only and greatest coin book is now becoming the most commented on with errors and inconsistancies. |
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Replies: 11 / Views: 3,455 |
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Posted 05/26/2007 11:22 am
