Posted 11/17/2016 02:26 am
Welcome! Also from Boston. There are no stupid questions here. Just a lot of coin nuts conversing and teaching each other about coins.
The Red Book and Blue Book are basically the same thing, but the difference is that the Red Book is the prices that coins usually sell for retail if you were to buy them from coin shops and dealers, and Blue Book is what dealers will generally pay for coins. The difference in price between the two is the profit they make in dealing coins. It keeps the lights on, the rent paid, and helps them make a living.
Most collectors just buy the Red Book to know the top price their coins are worth. I have the blue book so I know what to expect as an offer from dealers. But in future years, you don't have to buy both.
I have been collecting since I was a kid, and on this forum for just a year and have learned 10x more things I would have never learned simply collecting coins, and looking things up on my own. You've come to the right place.
The Red Book and Blue Book are basically the same thing, but the difference is that the Red Book is the prices that coins usually sell for retail if you were to buy them from coin shops and dealers, and Blue Book is what dealers will generally pay for coins. The difference in price between the two is the profit they make in dealing coins. It keeps the lights on, the rent paid, and helps them make a living.
Most collectors just buy the Red Book to know the top price their coins are worth. I have the blue book so I know what to expect as an offer from dealers. But in future years, you don't have to buy both.
I have been collecting since I was a kid, and on this forum for just a year and have learned 10x more things I would have never learned simply collecting coins, and looking things up on my own. You've come to the right place.
