So I was looking around for a red book, and I came across a blue book. What are the difference? Is one better for a beginner than the other? Please Help me..
Blue book lists collector values and red book lists dealer values. Red book shows higher prices. Neither is completely accurate, the price is often somewhere between.
The Red Book is the retail price of a coin or what you would pay for a coin that you would purchase from a dealer. The Blue Book is the is the price the dealer would purchase the coin from you or the whole sale price of a coin. Lou
Start with the red book. Depending on where you're at in Michigan, I'd strongly recommend finding your local club and, if not joining, at least visiting a few times. Can you easily get to Livonia?
not really I am in Jackson, so that would be a little bit of a ride. It's good to hear from another Michigan collector. I am just getting started, and might have to bounce some more questions off of you.
Use the Red Book (or the Blue Book) as a guide only. The prices listed are rarely accurate. The Red Book is a great reference for mintage figures and relative values but I would not recommend using it to determine a coin's value.
Yeah I don't plan on looking at values for a while. I am more in it for the fun, the only reason I would look at value is to make sure I am getting a fair price for a coin. I more what to know what to look for and try to get a collection started in the right direction. I have started a Lincoln cent, and look into others for later.
The red book is fine for general info, tends to have good pictures, and can help you learn what you don't know - a very valuable thing indeed. Feel free to ask anything you'd like via PM.
Then get the Redbook and READ it. Especially the material in the front. The prices you can pretty much ignore completely but everything else is worth while. The blue book doesn't have as much background information in it.