Is it time to buy a Blue Book?
291fifth
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I haven't bought a copy of "The Handbook of United States Coins" (better known to coin collectors as the Blue Book) in decades. I am strongly considering doing so as it may now be a good buy price guide for raw US coins. What do you think?
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Over the last 60 years as a collector, I have found the Blue Book to be next to useless. Maybe it has turned over a new leaf in the last decade. If it has, I missed it.
It’s better than the “The Green Book,” which the people at Gimbel’s Department Store sold. That had one value in it regardless of grade. That met that an Uncirculated coin was worth the same as one in Good. That is an exaggeration, but it showed how buying was done by unscrupulous people in the 1960s.
I don't think that there has ever been a time to buy a Blue Book over a Red Book, except in the early 1940s before the Red Book existed. But perhaps a Blue Book collector will disagree with me.
I'm surprised that they still publish the Blue Book. (Do they?!)
The last time i looked, it was in softcover only.
A 2020 edition was released in May.
As you well know, 291fifth, there are far better--and more current--ways to price coins these days. So I'm interested: why would a veteran like you be thinking you needed the Blue Book?
Here's a warning parable for coin collectors...
Yeah...just did a web search. You can buy the 2020 version today! (Which I'm sure is likely a problem with the using Blue Book).
I like actual books that can be quickly referenced without the need for a computer.
The Blue Book in NY is a business that has a directory of contractors so I am thinking you might be referencing another kind.
Best place to buy !
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The term "Blue Book" is used by several types of businesses. I believe the used car business uses what they call a "Blue Book" as well.
“Blue Book” was also a mail order book in the 1960s well before “Costco” and “Sam’s Club.” My father bought my mother’s replacement diamond engagement stone there after the first one was lost.
Project Blue book for buying and selling UFO's
Of what use is an actual book that can be easily referenced yet is virtually WORTHLESS for pricing coins?
Of what use is an actual book that can be easily referenced yet is virtually WORTHLESS for pricing coins??
why do they still publish the RedBook, it is almost as useless?? it has some neat information in it, but it can easily be found elsewhere and is more reliable. the RedBook has two things going for it, the sentimentality and that it's the butt of a good Numismatic joke!!
I thought it was out of print. I don't have a use for it. To each our own
Obviously Whitman Publishing must still have sufficient demand for the Blue Book. It must fit into the product line-up somehow. Of course, the Blue Book is meant to reflect dealer buy prices, not retail prices.
I have always guessed that when a walk-in would-be seller started quoting the highest price shown in the Red Book (which seems to happen often), some dealers pulled out a Blue Book as a counter-measure. But experienced coin dealers hardly "rely" on the Blue Book, or the Red Book for that matter.
Barnes & Noble has a 2020 Hardbound version of the Blue Book on their shelves at the closest store to my locale. I saw it there two days ago.
But is it worthless for pricing RAW coins if you are buying for resale?
Hey, buy it and enjoy it. At least the mintages will be helpful.
As for worthless...YES! YES! and ALWAYS since the late 1950's when I was given my first Blue Book for Christmas.
I soon learned that the true "buy" prices of coins were known by the dealers who actually bought them so I started working in a coin shop. It as a simple formula that needs no book or computer. I'll share their secret but it is only for you:
Buy as low as you can coupled with the experience that comes with paying very little for anything! I once bought a Vacheron Chronograph with a Gator band for melt! The boss got to keep it.
I received my first Blue Book in either late 1958 or early 1959. It was the 1959 edition.
I haven't bought one since the mid sixties. It was of little use back then, too.
Most raw coins that can be valued by a common, out of date guide within a reasonable tolerance are coins that are basically going to trade at melt or for a small premium over face value. In other words, I don't see the value in the Blue Book at all. It isn't the sort of material that I bother with and if I ever do, I'll look to eBay for multiple examples and err on the side of caution.
@BillJones
“Blue Book” was also a mail order book in the 1960s well before “Costco” and “Sam’s Club.” My father bought my mother’s replacement diamond engagement stone there after the first one was lost.
I think it was named Bennet's Blue Book.
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I always thought a blue book was printed so dealers could justify their low buying price offers to collectors and the blue book could be the bad guy and take the heat. I often thought the diminished wholesale prices mirrored the Red Books lofty retail levels.
p. It as a simple formula that needs no book or computer. I'll share their secret but it is only for you:
I took a PCGS holdered coin into a dealer's shop just for the experience. One and done.
Having read disparaging comments here years ago, I never did buy a Blue Book....I saw one once in a used book shop... was not impressed. Auction research gives a good benchmark for pricing, always cut that by 20%+ if selling to a dealer...Cheers, RickO
Anyone who collects coins for other than the collecting gene, fun, or relaxation needs to try and sell one. It will give you a better perspective on what you are doing.
The blue book is a handy tool I use in appraising / making offers on estates and walk up sellers at shows. It seems to be around 80 pct of CDN bid. I believe my recent copy cost me $10 off eBay. Sometimes I will use it in online auctions see if pick off something in last few minutes. I view blue book like a TE that is an edge sealant in a smash mouth football offense playbook.
I also have CDN if needed and use it for markup basis for retail pricing (CDN bid plus x percent).
Remember buying is just one side of the ball while selling is the other. It takes doing well on both to win.
Thirty years ago, I used to use both the red book and blue book to set price goals for purchasing coins at coin shows. The goal was to purchase nice quality coins at or below blue book prices. My friend and I considered the blue book to be a more realistic value guide than the red book for the common midgrade collector coins we were collecting back then (Lincoln cents, common date LSH dimes, common date large cents).
Now, I rely on auction prices in CoinFacts to arrive at proper valuation estimates.
I buy and use it all the time. Along with the Redbook I can get a reasonable idea of pricing. And no the bluebook does not have mintages in it @Insider2 . Of course I'm probably the only one on this forum that does not have a cell phone so paper is my only resource when away from my desk. It might not be the only references that I take on a house call. If I know what is being sold ( I ask ) I'll take printouts of sold examples with me for references. I don't mind telling a customer what the retail is on a coin and then what actual solds are for that same coin. Then I offer a reasonable amount and do or don't get it.
There are as many methods for buying collectibles as there are collectors.
bob
"Obviously Whitman Publishing must still have sufficient demand for the Blue Book."
Yup--pawn shops. B&M dealers more commonly use Greysheets and base their offers on a percentage of what is listed.
I have a lot of coin books. But not one copy of the Blue Book.
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CJ: 'No one!' [Ain't no angels in the coin biz]
I have a current edition of both the Red Book and the Blue Book. Since I don't have access to the Gray Sheet it at least allows me to get in the ballpark in regard to values. They also contain a lot of useful non-price related information.
I never really used the Blue book ... so I guess not.
I've owned and purchased Red Book for years. I do rely on auction prices and experience as my buying guides. I do scan the book on occasions for quick look at things like condition rarity, mintage figures other info when I don't have time for a more in-depth search... OK also a traditional buy for me. Don't know about anyone else but I could $#@! away $15 bucks on something a lot less useful.
And I thought I was the only one in the world that doesn't have a cell phone! I'm glad I have company!
The current, 77th, 2020 edition of the Blue Book does contain mintages.. It is similar in size to the current Red Book ... much larger than it was originally.
So when is the Purple Book due to be delevoped and delivered? Or is this the new opportunity...
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Yes - I use it in making offers/ bids all the time - online, shows, estates.
It’s been a regular in my library since 1990.