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Questions and answers about the Red Book
Dentuck
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If you collect coins. . . if you’ve ever wondered what a particular U.S. coin was. . . or how much your coins are worth. . . chances are you know about A Guide Book of United States Coins. When a new hobbyists asks, “Where can I go to learn about U.S. coins?” the answer they typically hear is “Get a Red Book!”
The “Red Book,” as the Guide Book is known to collectors, has been published since late 1946. It was a hit from the start, and today it remains the best-selling annual price guide for U.S. coins, bar none. The Red Book is truly the “gold standard” of numismatic references. Readers have bought and enjoyed more than 22 million copies.
Judging by the mail that comes in to Whitman Publishing, coin collectors love to learn about the Red Book and its history. Here are some questions that we frequently hear.
“How many Red Books are sold every year?”
Whitman Publishing has moved headquarters several times over the years. The company originally was based in Racine, Wisconsin, then in New York City and other places, and currently Atlanta. Records from the Red Book’s early decades are incomplete, and today Whitman doesn’t publicize annual sales numbers. However, these facts are interesting:
... The very first print run of 9,000 books, published in November 1946, sold out so quickly that another 9,000 copies were printed in February 1947.
... By 1959 more than 100,000 copies were being printed annually.
... The 18th edition (dated 1965) reached a peak of 1,200,000 copies sold!
... In 1964 the Red Book ranked fifth on the list of best-selling nonfiction—ahead of Dale Carnegie’s How to Win Friends and Influence People (at no. 6) and John F. Kennedy’s Profiles in Courage (no. 9).
... The 10 millionth copy rolled off the printing press in 1971.
... All together, more than 22 million copies have been sold since the first edition—making the Red Book one of the best-selling nonfiction books in publishing history.
“Why is the Red Book’s cover date always a year ahead?”
The first edition of the Red Book was printed in November 1946. Because it was so late in the year, Whitman Publishing decided to give the book a cover date of 1947. That tradition has been followed ever since, so, for example, when the 63rd edition debuted in 2009, its cover date was 2010.
“Where do the coin prices come from??”
Whitman Publishing has a sophisticated online system that can be accessed by the Red Book’s pricing contributors. These contributors include more than 140 of the nation’s top coin dealers and researchers—active experts who buy, sell, trade, and study U.S. coins every business day of the year. (And for most of these folks, that includes weekends, too!) Our contributors analyze the retail and auction markets, and draw upon their firsthand knowledge, to come up with current pricing. First they focus on the series they specialize in, and then other series that they actively sell. All of this data goes into Whitman’s master database. A report is generated presenting all of the data—thousands of price points, covering more than 6,000 individual coins and sets. This master report is then carefully studied by two separate groups of pricing finalizers coordinated by Red Book editor Kenneth Bressett and valuations editor Jeff Garrett. The finalizers use decades of experience in numismatics to arrive at their final prices for each coin; they don’t simply take an average of all the prices submitted by contributors.
Thanks to the Internet and lightning-fast communications, the Red Book’s valuations are as current as possible when they go to press. Our contributors and editors keep an eye on the markets up to (and slightly beyond) the annual Florida United Numismatists show (the first major U.S. coin show held each year, in early January). They have time to adjust the book’s pricing to reflect auctions and retail activity at the FUN show. When the Red Book debuts a few weeks later, its pricing is as fresh as possible.
“What’s the difference between the Red Book and the Blue Book?”
One significant difference: the Red Book provides retail valuations for U.S. coins—how much you can expect to pay for a coin if you walked into a shop to buy it, or ordered it through the mail from a dealer. The Blue Book shows wholesale or buy prices—how much a dealer will pay you, on average, for specific coins.
“What’s the difference between the regular-edition Red Book and the Professional Edition?”
The Professional Edition has been described as “the Red Book on steroids.” It’s an expanded and enlarged book that builds on the foundation of the regular edition. The Professional Edition is intended for intermediate to advanced coin collectors, professional coin dealers, auctioneers, investors, and others who need even more information than the regular edition provides. It combines more photographs, detailed higher-grade valuations, listings of additional varieties and rare early Proof coins, certified-coin population data, auction data, and other valuable resources.
Both the regular edition and the Professional Edition are published annually.
“Do people really collect Red Books?”
Indeed they do! Red Books are a popular collectible within the hobby community. The classic red hardcover editions, in particular, make a handsome bookshelf display. Collecting Red Books is not as simple as going to your local bookstore and buying one of each edition—remember that it’s been published since 1946, so you’re more likely to find the early editions in an antique shop or from a rare-book dealer. Many of the early editions are scarce and hard to find in nice condition. There are varieties to hunt for, official editorial copies, autographed copies, and rare special editions. You can even collect error Red Books, with misprinted covers, upside-down pages, and other anomalies.
For more information about collecting Red Books (and Red Book–related items like silver art bars and posters), see Frank J. Colletti’s Guide Book of the Official Red Book of United States Coins, which can be borrowed for free from the American Numismatic Association if you're a member.
... from The Whitman Review, March 2010
The “Red Book,” as the Guide Book is known to collectors, has been published since late 1946. It was a hit from the start, and today it remains the best-selling annual price guide for U.S. coins, bar none. The Red Book is truly the “gold standard” of numismatic references. Readers have bought and enjoyed more than 22 million copies.
Judging by the mail that comes in to Whitman Publishing, coin collectors love to learn about the Red Book and its history. Here are some questions that we frequently hear.
“How many Red Books are sold every year?”
Whitman Publishing has moved headquarters several times over the years. The company originally was based in Racine, Wisconsin, then in New York City and other places, and currently Atlanta. Records from the Red Book’s early decades are incomplete, and today Whitman doesn’t publicize annual sales numbers. However, these facts are interesting:
... The very first print run of 9,000 books, published in November 1946, sold out so quickly that another 9,000 copies were printed in February 1947.
... By 1959 more than 100,000 copies were being printed annually.
... The 18th edition (dated 1965) reached a peak of 1,200,000 copies sold!
... In 1964 the Red Book ranked fifth on the list of best-selling nonfiction—ahead of Dale Carnegie’s How to Win Friends and Influence People (at no. 6) and John F. Kennedy’s Profiles in Courage (no. 9).
... The 10 millionth copy rolled off the printing press in 1971.
... All together, more than 22 million copies have been sold since the first edition—making the Red Book one of the best-selling nonfiction books in publishing history.
“Why is the Red Book’s cover date always a year ahead?”
The first edition of the Red Book was printed in November 1946. Because it was so late in the year, Whitman Publishing decided to give the book a cover date of 1947. That tradition has been followed ever since, so, for example, when the 63rd edition debuted in 2009, its cover date was 2010.
“Where do the coin prices come from??”
Whitman Publishing has a sophisticated online system that can be accessed by the Red Book’s pricing contributors. These contributors include more than 140 of the nation’s top coin dealers and researchers—active experts who buy, sell, trade, and study U.S. coins every business day of the year. (And for most of these folks, that includes weekends, too!) Our contributors analyze the retail and auction markets, and draw upon their firsthand knowledge, to come up with current pricing. First they focus on the series they specialize in, and then other series that they actively sell. All of this data goes into Whitman’s master database. A report is generated presenting all of the data—thousands of price points, covering more than 6,000 individual coins and sets. This master report is then carefully studied by two separate groups of pricing finalizers coordinated by Red Book editor Kenneth Bressett and valuations editor Jeff Garrett. The finalizers use decades of experience in numismatics to arrive at their final prices for each coin; they don’t simply take an average of all the prices submitted by contributors.
Thanks to the Internet and lightning-fast communications, the Red Book’s valuations are as current as possible when they go to press. Our contributors and editors keep an eye on the markets up to (and slightly beyond) the annual Florida United Numismatists show (the first major U.S. coin show held each year, in early January). They have time to adjust the book’s pricing to reflect auctions and retail activity at the FUN show. When the Red Book debuts a few weeks later, its pricing is as fresh as possible.
“What’s the difference between the Red Book and the Blue Book?”
One significant difference: the Red Book provides retail valuations for U.S. coins—how much you can expect to pay for a coin if you walked into a shop to buy it, or ordered it through the mail from a dealer. The Blue Book shows wholesale or buy prices—how much a dealer will pay you, on average, for specific coins.
“What’s the difference between the regular-edition Red Book and the Professional Edition?”
The Professional Edition has been described as “the Red Book on steroids.” It’s an expanded and enlarged book that builds on the foundation of the regular edition. The Professional Edition is intended for intermediate to advanced coin collectors, professional coin dealers, auctioneers, investors, and others who need even more information than the regular edition provides. It combines more photographs, detailed higher-grade valuations, listings of additional varieties and rare early Proof coins, certified-coin population data, auction data, and other valuable resources.
Both the regular edition and the Professional Edition are published annually.
“Do people really collect Red Books?”
Indeed they do! Red Books are a popular collectible within the hobby community. The classic red hardcover editions, in particular, make a handsome bookshelf display. Collecting Red Books is not as simple as going to your local bookstore and buying one of each edition—remember that it’s been published since 1946, so you’re more likely to find the early editions in an antique shop or from a rare-book dealer. Many of the early editions are scarce and hard to find in nice condition. There are varieties to hunt for, official editorial copies, autographed copies, and rare special editions. You can even collect error Red Books, with misprinted covers, upside-down pages, and other anomalies.
For more information about collecting Red Books (and Red Book–related items like silver art bars and posters), see Frank J. Colletti’s Guide Book of the Official Red Book of United States Coins, which can be borrowed for free from the American Numismatic Association if you're a member.
... from The Whitman Review, March 2010
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Comments
Very interesting. Being a bibliophile and having my numismatic library on burled walnut floor to ceiling bookcases, I am almost embarassed to ask this question-- are there any plans to do the Redbook electronically? There is something just wrong about perusing the Redbook on a Kindle, but I was curious.
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Ricko: We only publish 1,500 copies of the leather-bound Limited Edition, so you won't find them in a mass-market venue like Barnes and Noble, Borders, or Books-A-Million. Your best bet is a numismatic bookseller like Charlie Davis, John Burns, or George F. Kolbe, or ordering direct from Whitman.
<< <i>Collecting Red Books is not as simple as going to your local bookstore and buying one of each edition—remember that it’s been published since 1946, so you’re more likely to find the early editions in an antique shop or from a rare-book dealer. Many of the early editions are scarce and hard to find in nice condition. >>
This is actually what happened to me today, to my total surprise. I went to a used bookstore a block from where I work, and saw a Red Book on the shelf for only $2. It looked funny to me, i.e, it appeared a darker red than the books I normally see. My mouth dropped when I discovered it was a 4th edition, 1951-52. So that was my find of the day. Nice used copy.
``https://ebay.us/m/KxolR5
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