Tonight Jimmy Gerstel on his TV show was selling rolls of assorted State Quarters, PF-68, (90% silver), 40 quarters per roll for $259.00 each. I looked up these quarters in my new Red Book and find, if I'm reading it right, average for these coins is about $8 to $10 each for PF-65. I didn't purchase them. Any opinion on whether I did the right thing or not would be appreciated. I'm trying to learn to purchase by good deal and not emotion. Thanks.
You definitely did the right thing by not purchasing them. The Redbook value is highly inflated, and television coin shows sell coins for far above what they can be obtained for in the marketplace.
Glad you asked instead of spent because I have several questions. Proof 68 by whose standards? Were they in PCGS or NGC slabs or just his word? Not that it would really matter actually. Second question. Did he give years? Were they all 2003 a set that has totally tanked? I ask because the price you quoted is just under $6.50 per coin without shipping. UNDERSTAND THIS IS NOT AN OFFER but I'd dump mine right now for well under that. Third I wouldn't rely too heavily on Redbook for these prices. PR65 is just one of the categories listed. A PR68 modern quarter is basically a "low grade" these days. Fill us in on particulars if you can. clembo
Thanks for the reply. The Proof 68 was Jimmy's rating. The quarters were in rolls. Jimmy never gave dates of the coins but what I saw on TV was 2000 thru 2003 and the coins displayed looked brilliant and flawless. (but only he knows) Being new to this I thought I could count on the Red book for fair prices to purchase coins.
No, the Red Book is not a good guide for prices. It is very good for mintage figures and relative values. You're doing things the right way - ask before buying. That's a good - and cheap - way to learn.
