"Houston we have a problem....."

I like the Professional Edition of the Red Book. It's a good quick reference book. As for pricing, I use auction archives as my guide.

 

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I had one from when I started collecting in 2008. I recently 'upgraded' to the 2014 because I got it for like $4.

 

Even worse. The 2016 book came out in April 2015, it went to press at the end of 2014 and the prices were compiled in early to mid 2014. So the prices were compiled almost two years before the date on the cover.

 

That is more screwed up than a soup sandwich. What is the urge to get out a so-called 2016 price guide at the end of April 2015?

 

$$$$$$$$$$$$$

 

I like the redbook for weights mintages and other information about coins. But I use my mobile coinfacts app all the time and a lot more. Well worth the $100 a year

 

There is nothing wrong with owning a Red Book. As I said, the reference material, historical information, mintage listings are all important to you. Just do not buy one every year.

 

Neither the blue nor the redbook reflect prices that are realistic for what a coin should theoretically sell for. Greysheet is definitely closer to reality, but as been said previously, there is NOT A SET PRICE that a coin should sell for. It depends on many things--eye appeal (not all MS 64 coins are created equal), market demand, scarcity, popularity of the particular series, and value of a specific date, etc. To me, the best indicator of coin worth, and even then, it is for a particular coin at that time, on that day is previous recent sales. Look at the price that a comparable coin actually sells for, and one has a rough idea of what a coin may be worth. Then again, there is a large variance even there, so consider it far from an absolute value, and more like a subjective one.

 

The obvious, for some reason, sometimes sails right by me.

 

Everything in this world is about the $$$$$$$

 

The professional version of the Red Book is in its last edition. It is being replaced by the new "mega-red". Smaller in width and height, but much thicker.

I use the Red Book prices as my "under no circumstances go over" price for an exceptional piece I want for my collection badly. I take the Red Book price, reduce it by the auction house "vig" and stand firm. No matter how sweet the coin is, never go over that. The rarer the piece, the closer I'll go. Common stuff? Nowhere near.

 

I wholeheartedly disagree. Prices fluctuate, so the prices in either the blue or red book may be different from current market values, but to say "utterly worthless" is ridiculous. There is all kinds of useful information in there. We just need to consult multiple current sources to determine a good market value on anything we buy.

 

There is LOTS of useful information in the both of them--just not relevant price information.