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Pre 65 Redbook Values And Silver Spot Prices

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Pillar of the Community

United States
876 Posts
 Posted 07/03/2021  1:51 pm Show Profile   Bookmark this topic Add Dowhat to your friends list Get a Link to this Message Number of Subscribers
A simple question.Do RedBook values reflect silver spot prices on pre 65 silver coinage? Or are the values based on numismatic worth only.
Should the silver spot price be applied to the RedBook values?
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Ty2020b's Avatar
United States
4680 Posts
 Posted 07/03/2021  4:50 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
To my knowledge they do reflect spot price. Current spot (time of editing/publishing, so never current) is listed in the Red Book, at least in recent years it has been.

That being said, Red Book is a guide like many other sources, and for common/junk silver, your better off checking recent sold listings to get a better idea of values, since they're value is primarily based on silver content, and just a small numismatic premium
Pillar of the Community
United States
876 Posts
 Posted 07/04/2021  10:56 am  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
Thanks for the reply Ty2020b.
The reason I ask is that I just picked up some pristine proofs on my weekly trip to my LCS for my junk silver. The dealer informed me that they just came in. Nice quarters
and dimes. They were obviously just out of the packaging.
This is what I picked up;
1958 PR Quarter and dime
1959 PR Quarter and dime
1964 PR Quarter x3 and dime x 3
2006 PR Quarter (CO) and dime
2007 PR Quarter (WA) x2 and dime x2
2007 PR Quarter (UT) and dime
2007 PR Quarter (MT) and dime.
FV for Constitutional silver was $22.50 that day making a quarter about $5.63.
For example, RedBook lists the state coins @ $8 for PF-65. The lot of these are are at least into the 63-65 range.
It just appears to be a bargain and that people are prematurely dumping their silver. Good for me I guess.
2021 RedBook.
Any thoughts?
I suppose it would be prudent to find out silver spot price at the time of edition. Pretty sure somewhat less.
I should have looked at the halves right? They were not my quest that day and regret the oversight now Oops.
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perfessor's Avatar
United States
927 Posts
 Posted 07/04/2021  10:36 pm  Show Profile   Bookmark this reply Add perfessor to your friends list Get a Link to this Reply
In my opinion, there isn't much of a premium for common proof silver coins. All of the coins listed fall in this category. Hence I would expect to pay (and receive) a small premium over quarters and dimes that are just silver bullion. $8 sounds high to expect to pay for a common proof quarter (1 coin). I assume that if you bought them as "junk" silver, then you got a good deal. You cannot use Red Book prices for anything silver that is anywhere close to bullion value.
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BStrauss3's Avatar
United States
4587 Posts
 Posted 07/05/2021  10:45 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
The answer is yes and no.

What was the spot silver price when those coin values were established?

The 2021 RedBook was published in April 2020. It went to print in 1q 2020. Prices were established during the later part of 2019.

Spot silver in November 2019, fro. 18.124 to 16.807...
-----Burton
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Life member: Numismatics International, CONECA
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Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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