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 Replies: 14 / Views: 1,228 |
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Valued Member
United States
95 Posts |
Question for everyone. Do you find Red Book values to be accurate, below, or above actuall values? |
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Bedrock of the Community
United States
14454 Posts |
I think there values are pretty inflated about like the PCGS price guide is according to auction values from ebay, not 100% sure how accurate or inaccurate it is from other online auctions like Heritage or Teletrade |
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Pillar of the Community
United States
812 Posts |
I think the Red Book runs kind of high. Keep in mind the prices you look at today in your 2009 edition were established easily 12 months ago as their best guess what prices would be now. I think it's a great book, but a mediocre price guide. Edited by Bilbo
07/23/2008 10:47 pm
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Bedrock of the Community
United States
10982 Posts |
The RedBook prices are generally high end retail prices for problem free coins. The Bluebook gives you an more accurate market value for most coins. |
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Bedrock of the Community
United States
12437 Posts |
The RedBook is a bit high on some things, some can be low due to fluctuating precious metals pricing, while others are close. The current 2009 edition of the RedBook was issued in April of this year. The book was probably compiled late fall/winter of 07 so the lead time can create some inaccuracies. However, any price guide in an annual book form will share this problem. Keep in mind though that many industry leaders are contributors to RedBook so it is not like they are pulling numbers out of thin air like some people tend to think. Some coins, particularly those under $40-50, will not change much in value year after year so those tend to be the most accurate prices unless affected by metals prices as already noted. The higher end coins do tend to change in value much more rapidly. I generally use the RedBook for pricing trends which will always be the same no matter what source you are using. If a particular coin is $60 in EF but rises to $250 in AU, that huge discrepancy will always hold(BTW, the example I used is a 1936D Washington quarter) and that gives you a better idea of what grades to look for and what you will not be able to afford. As far as an all around reference book, there is nothing better than the RedBook. If you are looking for the most up-to-date pricing, I would suggest the Greysheet(Coin Dealer's Newsletter), a monthly coin value magazine(such as Coin Prices or the monthly pricing supplemental in Numismatic News) or even online sources such as Heritage Auction's price guide or Numismedia. Edited by biokemist6
07/24/2008 3:49 pm
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Moderator
 United States
187582 Posts |
Quote:As far as an all around reference book, there is nothing better than the RedBook.  As for prices, any price guide, not matter how current, is just a guide. Every deal is different. It always depends on how bad the buyer wants the coin and how attached the seller is to it. I do not believe that anyone can honestly say that a given coin at a given grade is worth a given amount on a given day. Every person has their own sense of what a coin is worth, compounded by the subjectivity of grading and eye appeal. So as they say, everything is for sale... for the right price! I agree that recent auctions and current price lists ( CDN, Coin Prices, etc.) are going to be the best guide to indicate what you can expect to pay for a coin, give or take. Edited by jbuck
07/24/2008 2:55 pm
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Pillar of the Community
United States
6326 Posts |
The way Jbuck puts it, is really the only honest way to look at the whole game really ........
My dad always said....."Somethings only worth what you can find somebody to pay you for it."
And if I want something bad enough......it's mine usually...despite what a "guide" may say !!
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Moderator
United States
187582 Posts |
Quote:
And if I want something bad enough......it's mine usually...despite what a "guide" may say ! I have "overpayed" for a coin from one dealer because it has better eye appeal (to me) than one graded the same by another dealer. |
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Pillar of the Community
United States
3233 Posts |
I think the RedBook's days of usefulness for values ended over 10-15 years ago. With the Net and all the additional auction transactions and speed of information transfer, prices change too quickly for that book to be useful at all for pricing. I like the book for other things, such as mintages, etc. |
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Valued Member
United States
100 Posts |
I think that the Blackbook is a good book. It gives you great info on the history of a particular coin, has an excellent colonial section, and a great commemorative section. The only bad thing is that the pictures are in black and white, so you can't make out much detail. Their prices tend to be very accurate though.
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Valued Member
United States
198 Posts |
I think the price guides in the monthly magazines are a little more accurate and I have to agree the these are JUST guides.
Supply and demand pushes the prices too.
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Pillar of the Community
United States
6326 Posts |
That Avatar sure looks familiar !.....
Edited by eaglefoot
07/25/2008 10:45 am
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Pillar of the Community
United States
1984 Posts |
I agree with Prethen. The Red Book is useful, but not for pricing. |
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Bedrock of the Community
United States
20753 Posts |
As already noted the Red Book as a price guide is useless. It is just that though as for prices, a guide. I doubt that even Whitman considers the prices in that book of any value. With a publication that is compiled many, many months prior to publication, there is little chance that anyone at Whitman could estimate the future prices of any coin. With their sillyness of having a 2009 edtion produced almost a year in advance, that too makes many prices completely outdated by the time the book is produced. I would think by now that Whitman would start releasing either simi or quarterly editions to at least come close to realization. Fantastic book for information but prices are just out of date. |
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Valued Member
Philippines
107 Posts |
i thought catalogers (if that's the right name) are basing the coin prices on the recent market prices.. well if they are playing Nostradamus.. wew... i'd better sign-in to my ebay account and click watch watch watch to see the current price of coins |
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Replies: 14 / Views: 1,228 |
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Posted 07/23/2008 10:46 pm
