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 Replies: 16 / Views: 4,021 |
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Pillar of the Community
United States
844 Posts |
When doing a value check on a US coin you're thinking about purchasing, Which book do you use? Maybe another source? I keep a Blue book in my truck that I look for prices. I sometimes stop at a coin shop "out of the blue" and like to have it with me.
Thanks fellow CCFers and hope you had a great new years.
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Pillar of the Community
Canada
785 Posts |
Red Book is closer to what you can expect to pay so I usually use it for my US coins.
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Pillar of the Community
United States
3486 Posts |
Apples and oranges! Red Book lists retail sale price. Blue book lists "what a dealer will offer" price. Neither maintains accuracy over time. Other members will give you some online valuation sources. More accurate. |
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Pillar of the Community
 United States
844 Posts |
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Pillar of the Community
United States
9792 Posts |
I use a combination of sources to get pricing, numismedia, and PCGS Market + Greysheet along with Heritage and ebay past archives. You really can't beat the RedBook for information though, it's one of the very best publications that no numismatist in US coins should be without. For pricing it just isn't current with market trends. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Moderator
 United States
188433 Posts |
I use NumisMedia for immediate information. If I have time to research, I look at past auctions on ebay. |
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Pillar of the Community
United States
844 Posts |
Well, I do not have a smart phone, so I have no way of getting really up to date info while standing in the store. I did have my girlfriend put a coin grading app on her phone, but she's usually not around when I get the bug to buy coins. I also realize the difference in blue book vs Red Book. Here's the way I usually go about a coin purchase: With Blue book in hand, I go into the coin store and find a nice coin that is priced within that days budget. Then, I look up in the book what they say the price is. For example: An 1896 Barber quarter Dollar AU-50 in the blue Blue book let's say $65.00. The store has it priced at $85.00, Being familiar with the store owner, I know that more than likely he bought this coin in a lot with probably 2-3 hundred other coins. He doesn't have near that amount tied up in that one coin. I know he has wiggle room on the selling price. I start out offering the $65.00. If everything works out right, I get the coin for $70-$75. So my point is, would I be better off sticking with the blue book with my negotiating style, or use the Red Book and shoot for lower than Red Book price? I'm planning on buying one or the other within a week. |
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Pillar of the Community
United States
1088 Posts |
I use the Red Book. But I do utilize other sources like past auctions and LCS |
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Moderator
United States
188433 Posts |
Quote:So my point is, would I be better off sticking with the blue book with my negotiating style, or use the Red Book and shoot for lower than Red Book price? I say if it is not broken, do not fix it. |
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Pillar of the Community
United States
561 Posts |
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New Member
United States
14 Posts |
I would use the Red Book. It is more reliable and provides better information. |
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Moderator
United States
56855 Posts |
Red Book values are too high and almost out of date at the release of the book. I recommend numismedia for pricing and even ebay for current up to date values that people are actually paying. John1 
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Pillar of the Community
United States
844 Posts |
I think I'll just buy one of each. Blue book for negotiating and Red Book for the better info. thanks guys. |
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Pillar of the Community
United States
1839 Posts |
Now if they'd just come out with a book that averages the blue and red books. They could call it the purple book.
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Pillar of the Community
United States
1554 Posts |
Blue Book is urealistic for a collector to use. It is used by dealers to buy from the public.
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Bedrock of the Community
United States
20753 Posts |
Quote:
Blue Book is urealistic for a collector to use. It is used by dealers to buy from the public. So true. It is almost a joke to use that one for prices. I use a 2010 version of the Red Book. Usually the prices in the Red Book too are unrealistic for present day prices. However, I've found the 2010 edition is approximately what dealers end up selling coin for. |
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Replies: 16 / Views: 4,021 |
Posted 01/01/2014 7:41 pm
