Red Book Professional Edition Review

mmarotta · 11-02-2009, 08:34 PM

The Official Red Book: A Guide Book of United States Coins Professional Edition by R. S. Yeoman and Kenneth Bressett (Senior Editor), Jeff Garrett (Valuations Editor), and Q. David Bowers (Research Editor).

I expect that this is the book that a dealer would take to an auction at an ANA, Long Beach or Baltimore convention. The cover price is $29.95 and if you buy and sell a wide populatton of US Type coins in the ranges of hundreds to thousands of dollars, then this book would be cheap at twice the price.

Consider that it is the "dealer's dilemma" that collectors are specialists whereas dealers are forced to be generalists. So, the collector cherrypicks the dealer. This book can help the dealer. Specialists already will have the books listed in each of the many bibilographies. Specialists will have all of that information and more in their heads. The specialist will know which items have appeared recently at major auctions.

For each issue from Half Cents to Double Eagles, you will find tables of dollar values for the high-end market grades, typically Mint State and Proof, though down to VF and EF for early copper, as needed, and therefore DMPLs for Morgans, too. Moreover, each table has a column for direct citations to recent auctions. Furthermore, the tables approximate the certified populations, including the percentage of those certified that are in Mint State.

Extensive color photographs illustrate the differences among important varieties, such as Small Date from Large Date, and so on.Important varieties also receive special treatments with paragraphs in standardized formats to give an overview of History, Strike and Sharpness, and Availability on the market. The book is replete with these throughout.

Not in here are Colonials, Tokens, Pioneer Gold, Modern Commemoratives and US Mint Bullion. Perhaps least permanent is the information at the back about recent Chinese (and other) counterfeits. Again, specialist collectors will seldom be fooled. It is the dealer who risks being taken advantage of.

coleguy · 11-02-2009, 08:45 PM

So, is it worth picking up or not? Whitman doesn't give much in the way of a description, so I've been waiting for someone to buy it and say one way or another.
Guy~

TheBigH · 11-02-2009, 08:47 PM

Does it give prices for all the MS grades, or just like 61, 63 and 65 like the regular Red Book?

mmarotta · 11-02-2009, 09:11 PM

Quote:

Originally Posted by TheBigH

Does it give prices for all the MS grades, or just like 61, 63 and 65 like the regular Red Book?

It depends on the coin and its markets.

For Half Dollars 1807-1836
AU-50, AU-55, MS-60, MS-62, MS-63, MS-64, MS-65.

But for Morgan Dollars
MS-63, MS-64, MS-65, MS-66 and then
DMPL MS-63, DMPL MS-64 and DMPL MS-65.

Yet for Liberty Double Eagles,
only Proof grades are listed,
PF-60, PF-63, PF-64, PF-65.

And so on, for each Type and Series, only the important market grades are given.

The book was carefully designed to meet the needs of professional numismatists who buy and sell US Federal coins that sell for hundreds to thousands of dollars, depending on rarity and demand.

TheBigH · 11-02-2009, 10:42 PM

Thank you for the response.

jello · 11-04-2009, 11:42 AM

Looks like a good book.my I put a bug in Santa ear this year

Treashunt · 11-03-2009, 08:03 AM

Thanks for posting, I forgot to order one.

vipergts2 · 11-03-2009, 08:08 AM

Quote:

Originally Posted by Treashunt

Thanks for posting, I forgot to order one.

Shame on you!!

coinman0456 · 11-03-2009, 08:09 AM

I don't believe you can't afford not to purchase one, from a "Collectors" perspective.

Just Carl · 11-03-2009, 10:47 AM

As a Red Book collector I'll probably purchase one of those. Put it on a shelf in a bookcase, unopened as almost all of mine are. So far as long as I've been going to coin shows, I've only seen once a person carrying a Red Book. Never anyone carrying a Blue one. That is from 2 to 4 coin shows a Month for many, many, many years. I also frequent all the local coin stores and there too have never seen anyone with a Red Book except it they were buying one.
Regardless of which type or edition you purchase, it is just a sign to dealers that you are a beginner, confused or something like that. I haven't seen this one yet and as I said will probably buy it for my Red Book collection but I doubt it will get opened and never go to a coin show.

Treashunt · 11-03-2009, 01:12 PM

Carl:
Agreed, not for use at most shows, but I have often asked a dealer to borrow one, (a Red Book) to check mintages.

And, yes, I'll order one and keep it in mint condition.

coleguy · 11-03-2009, 01:15 PM

Quote:

And, yes, I'll order one and keep it in mint condition.

Hey, maybe the TPG's will get in on this and start encapsulating numismatic books! Wonder what an MS 69 Red Book is bringing these days :P
Guy~

Treashunt · 11-03-2009, 01:43 PM

Quote:

Originally Posted by coleguy

Hey, maybe the TPG's will get in on this and start encapsulating numismatic books! Wonder what an MS 69 Red Book is bringing these days :P
Guy~

like anything else, it depends on the date!

borgovan · 11-03-2009, 02:29 PM

Quote:

Originally Posted by coleguy

Hey, maybe the TPG's will get in on this and start encapsulating numismatic books! Wonder what an MS 69 Red Book is bringing these days :P
Guy~

I don't know if the Red Book still has this information or not, but a few years ago, in the back of the book they had a price guide for previous Red Books, broken down in a table by year and condition.

Treashunt · 11-03-2009, 04:48 PM

Quote:

Originally Posted by borgovan

I don't know if the Red Book still has this information or not, but a few years ago, in the back of the book they had a price guide for previous Red Books, broken down in a table by year and condition.

yes, it is still there, and updated every year with all new editions, special editions.

In addition, last year's edition included a new section on the Blue Book, and values for early editions.

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