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 Replies: 15 / Views: 1,037 |
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Valued Member
United States
295 Posts |
I am just wondering as I look through the 2009 blue book and Red Book how I should decide on how much to pay for coins that I am interested in. The blue book seems very low and the Red Book I am not sure about. Is there a happy medium? |
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Moderator
 United States
6563 Posts |
In general RedBook = dealers asking price (retail) Bluebook = dealers buying price (wholesale) happy medium is the average going price on ebay unfortunately. When you get to higher grades and more expensive coins then some other websites are a better tool. |
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Moderator
 United States
187702 Posts |
It is generally accepted that the Blue Book and Red Book prices are outdated as soon as they come out. In addition to GO's recommendation, I would also suggesting asking the forum members about your potential purchases. Give all of the coin's information, including date and condition; post pictures if you can. We love to help!  |
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Pillar of the Community
United States
2443 Posts |
I'm with GO on this. You also have to remember that eye appeal, color, varieties also increase and decrease the value of a coin.
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Valued Member
United States
201 Posts |
I really don't see Red Book being too far off on values as I don't see the vast majority of coins changing that frequently in value (with the possible exception of bullion coins and other coins where most of the value is in the metal content). But, if you want to be sure, you can subscribe to any of a half dozen magazines that include a price guide. Visiting the local book stores, I was able to find: COINage, Coins, Coin Prices & Coin Values that all include price guides. They are produced on a monthly or bi-monthly basis. I've heard it mentioned here before but there is greysheet which is supposed to be weekly, but the subscription cost outweighs any benefit for me. |
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Pillar of the Community
United States
6326 Posts |
"NumisMedia Price Guides"........fair market price guide. People would "love" to sell their coins at RedBook prices!...  ...and if they find someone willing to pay it....  .... People would "love" to buy their coins at Bluebook prices.......and if they can find someone to sell their coins to them at that price...... Silver prices and Gold prices typically DO go up and down like a rollercoaster ride......and when those books go to "print" a year and a half "early".......one can see the potential inaccuracy there. I would only use the RedBook in purchasing, as "the most" I'd ever pay for a coin.....(unless I'm impatient and really really want a particular coin)....... I haven't heard too many people say that the prices listed there are "useful and accurate"......those books are more for all the other information contained. And as pointed out....it won't mention some important nuances with coins to look for that affect pricing..... Edited by eaglefoot
07/02/2008 10:35 am
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Pillar of the Community
United States
812 Posts |
Jon, welcome to the forum! (I like your avatar.) Here is a link to Numismedia. The G-4 to MS-60 values can be examined for free. Higher grades require that you pay. It is a reasonable retail guide. http://www.numismedia.com/fmv/fmv.shtmlAnother guide that is good for retail values is 'Coin Prices' from Krause Publications. 'Coin Values' from Coin World is very complete, but the values run rather high. The Greysheet is considered to be the authoritative wholesale guide. A link to their site is below. You can get a subscription, or buy individual issues. http://www.greysheet.com/ |
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Valued Member
 United States
295 Posts |
Thank you very much everyone for your input. Here in the next few days I will try to take a few pictures of some of the coins I have purchased. I am currently working on a dansco 7070 type set. I was inspired to the U.S. type set after seeing someones on here I beleive Brian something or other I was in awe! I feel that it will be a good way for me to learn alot about coins by putting this set together first.
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Valued Member
United States
429 Posts |
The other thing I would consider is where you are buying from because they may be using a certain price guide as well. My local store uses Coin Values and has most of their stock at that price. But, at the same time, a secondary list would be good to have because every source has at least a few coins marked up a lot higher than the rest, by using two guides you may get a better price. The main coin that comes to mind is 1820 Large Cent, small date, curved 2. The Red Book and others have this coin listed the same as the years around it (G4-$25 to VF-$50-60) where as Coin Values lists the same coin at 3-5 times the price. |
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Bedrock of the Community
United States
20753 Posts |
WELCOME TO THE FORUM. As to the usage of the Red Book or Blue Book for coin prices, forget it. I've been going to coin shows for a long, long time and about 3 or more times a month. So far I've only seen one person with a Red Book and neve seen anyone with a Blue Book at these shows. Most people realize that the prices in those books, as well as many other so called price guides are useless. Try to remember that any book that contains massive quantities of information must be compiled over a large period of time. Possibly the Red Book is now in process for the 2010 edition so the prices would be just a guess with nothing but some past experience as to price increases. If you want the actual value of any coin, probably the best thing is to check ebay or go to a coin show and see how much they are selling for in real life. |
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New Member
Australia
1 Posts |
what is the values of a 1920 asutralian penny a 1935 australian penny and a 1934 australian penny
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Valued Member
United States
131 Posts |
I think the most useful place to check coin prices, at least for slabbed coins, is the auction archives for places like Heritage, DLRC and Teletrade. I rarely make a purchase without checking at least one of these sites. You have to factor in the surcharge that is applied at all these auction houses. As for guides, if you're serious about this and have enough money, consider subscribing to GreySheet. I also like the prices listed in CoinAge although you have to buy two or three issues consecutively as they do not run a complete price guide in any one issue.
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Rest in Peace
United States
5375 Posts |
I personally found numismedia price guide to be pretty spot on overall. Not perfect, so I still check heritage and teletrade. I formerly used PCGS price guide....but that was obviously a foolish move on my part...
Well, live and learn. PCGS price guide is actually too low on key dates, and quite a bit high on common dates.
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Member
United States
3242 Posts |
I have found over the 40+ year I been collecting the price guide is a baseline. but the real price is what someone is willing to pay you for the coin you are selling or buying  |
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Rest in Peace
United States
5375 Posts |
Of course, but that's sometimes hard to determine.
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Valued Member
United States
487 Posts |
Quote "My local store uses Coin Values and has most of their stock at that price."
Take a coin in to see how much this guy will pay you for it and I bet he will pull out a Greysheet and then offer you 10 to 20% back of bid.
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Replies: 15 / Views: 1,037 |
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Posted 07/02/2008 01:27 am
