Red book prices...

coolest

The Red Book prices seem to be much more realistic now than in years past, what do you think?
I used to think of the Red book as having inflated retail prices, these days I will regularly pay what the red book is quoting. Am I paying too much?

cinman14

Yes

rhedden

I don't think the prices are as inflated as some of the prices in the PCGS Price Guide. There are some really undervalued coins in the Red Book, in fact. For example, the 1824/2 quarter lists at $325 in F12, but dealers are asking $2,000-$3,500 for that coin in F12. On the other hand, the Red Book caught up to the market prices on the 1801 and 1802 halves as well as many other early coins that have seen recent price gains. As a general rule, I would assume the Red Book is 10-15% above fair market value on a lot of common stuff, but anything goes for rare date material.

lordmarcovan

I'll admit it, I use Redbook, too. It's much better laid out and easier to use than the Greysheet, as a fingertip reference.

True, the prices lag way behind and do not always accurately reflect the marketplace. But on the sort of stuff I usually deal with, it's close enough.

Or so I have believed. I'm reluctantly going to start keeping a few Greysheets around for cross-reference, now, since I am trying to get over my stubborn dislike of that particular publication.

For the last couple of years, I have used a combination of Redbook and Numismedia and gut instinct to get by. I think I will continue to do so, but will also add Greysheet to the list of sources. But my gut instinct will continue to be the deciding factor (right or wrong - I've been both).

I don't hear much about Coin World trends anymore. Do people still use that? I have never been a CW subscriber.

tahoe98

...........i use retail!

keets

there's a dealer joke that goes like this-----What do you call a collector walking the bourse with a RedBook?? a sucker!!

BillJones

<< <i>there's a dealer joke that goes like this-----What do you call a collector walking the bourse with a RedBook?? a sucker!! >>



It all depends upon what edition of the Red Book the collector is using. A couple of years ago an old collector yelled at me for quoting him a price based upon the Gray Sheet on a semi-key date, PCGS graded Morgan Dollar. As it turned out he was using one of those "The Official Red Book" guides for Morgan Dollars, and the prices were four years old. It didn't matter to him. The Red Book was right, and I was "a crook" despite that the fact that the number he was using was based on an entirely different market.

coolest

<< <i>...........i use retail! >>



In my opinion there really is no such thing as wholesale or retail in the coin market. There are only high prices and low prices.

golfer72

I recently bought a Redbook for the first time in probably 35 years. Very nice layout and pictures and a great reference book. I see the prices more as a ballpark figure than anything else.

EagleEye

As a pricing contributor, I try to edit coins that I honestly feel need changing. I just do Flying Eagle and Indian Cents pricing, maybe a few Lincolns and other stuff, but mostly FE & Ind. I try to take off the sellers hat and judge the prices as whether or not they are realistic.

I can imagine that others may have abused their pricing input to forward their agenda and pushed prices up at times in the past. You must use it as a guide and together with other pricing sources come to your own conclusion regarding the pricing of any coin.

The editors also review the pricing input and make decisions on whether they are accurate or self-serving.

Also the lag time between input and printing is about 6 months, so there could be big changes, especially in bullion coins.

sumnom

<< <i>there's a dealer joke that goes like this-----What do you call a collector walking the bourse with a RedBook?? a sucker!! >>



It depends on what the collector is using it for. I certainly do not depend on it for prices but I use it as a reference for other general information. I also have notes in my copy.

Coxe

Look at their prices for an 1888-O Hot Lips Morgan. What fortune cookie did those come out of?

Barberman55

Depending on the date and series, using Redbook "retail" prices over Greysheet prices is often to you're advantage. For example, the Redbook lists the 1873-CC Liberty Seated dollar, in XF-40, for $23,500.00, while the current Greysheet bid price is $27,500.00.