The Red Book has improved a lot since then with better photos and new listings. The biggest enemy of the book is all the modern junk the mint issues every year. The book gets bloated from this stuff. After a while listings for popular modern coins, like the American Silver Eagles are dropped.
A couple of dealers cornered a lot of the mintage and had the discipline to control their sales and maximize their profits. It’s hard to find a circulated 1950-D nickel. Most of them are Mint State. The retail price for the coin was $35 in the mid 1960s.
There were also a lot of cent and nickel collectors. Just about every kid started with pennies, and nickels weren't too much of a jump. So demand was a big factor. Other circulating denominations -- dimes, quarters, and halves -- got socked by the transition to clad coinage in 1965, with old silver dates quickly disappearing from circulation. That made them impractical to collect from your change.
Sometimes AFFORDABILITY is more important than premium to FMV. I've seen that lots of times with auctions, where lower-priced items (esp. silver bullion and coins) go for very rich premiums to folks who can't afford the gold counterpart.
I don't collect them per se, but this one I did "collect". It was part of the Neil Armstrong family collection. I've cropped the LoA as there are various diagnostics in the letter I do not wish to publicize.
I have to confess that I have never been a fan of the Blue Book. I really don't care for them and have never collected them.
I have a short set, I think I stopped in the 1980's. Along with a lot of signed Yeoman editions and some editing copies, plus error printings