Here is some interesting information on the latest version of the Red Book. I normally attempt to find time every few years to evaluate my entire collection. I use the Red Book as a guide for just approximate values although I know they are high, I always figure if I use them now, in several years those statistics will be close to real life. The last time I did this was in 2008 so I figured might want to see how things are going. This is usually a fairly extensive project with well over 100 Whitman Albums alone and many, many other items. So I sat down, opened the 2010 edition and opened my book of Excel spread sheets of all coins. I started with Proof sets for comparisons and figured if not much changed from 2008, I would abandon doing this for few more years. I also normally tell people that coin prices never go down. On the pages for proof sets I compared my proof sets with the prices now and came up with this: Out of 49 different dates of proof sets, 26 had prices down, 7 had prices up, 16 had no changes since 2008. I was a little in shock so moved to Walking Half Dollars. I used one of my Albums as an example and the grades are various. But again I was amazed that only 20 had price changes at all in the entire series from 2008 and only minor increases at that. Moved to Standing Liberty Quarters. I checked 28 of the series in one of my albums and 15 had changed from 2008. 4 were down in price, 11 were up slightly and all the rest were the same. One more place to see how things are changing in the Red Book. I moved to Flying Eagle/Indian Head Cents. Used one of my albums and checked 58 coin prices from 2008. 22 had no changes at all. 36 had gone up but only slightly and none down in price. I will continue to do this with the entire collection now over a few weeks time due to the amount to be checked. Although from what I am seeing it appears that Whitman is now going to attempt to make their prices a little more realistic so people would stop saying the book is great for information but completely ignor the prices. If you have the 2010 version you may be amazed at the prices on coins. I've a lot more to check so not sure if my limited checking is of any real information statistically.
If you think about it that makes perfect sense. If you think about it that makes perfect sense. We are about a year into correction for all coins and it should last another year to 18 months. Coins were hot in 04,05,06,07 and all were due for correction by 08. This trend has been mentioned often by talking to old timers who saw this coming and said so. I have many dealers in my show that have seen these corrections over the last 25 years The Red Book Info. you shared is representative of that also. Not all coins will take a hit but many will. Examples that may take hits are: Modern higher graded slabs - this is not a prediction it's a promise! Liberty Nickel series - it always takes hits because it is not very popular. Lincoln sets and rolls - they went a little over the top in 2008. All proof and mint sets after 1959 - there's still enough left to sink a boat! All singles and rolls from 1959 to date - our great grandchildren will have buckets full of this stuff! The stuff that will increase is always the stuff that increases: Key and semi-keys in classic U.S. coins in original condition. Early proofs back of 1959. All coins before 1860 especially in nice genuine condition. Some die varieties - if the general coin collecting public ever figures out how rare and nice they are.
bhp: I have to agree. Modern sets (in silly high grades) are due for a correction. All Seated series (half-dimes thru $'s) will increase, except for type dates. There are many scarce dates (low mintages) that will finally be recognized. In addition, all Barber series, (except for your mentioned V-nickels) will increase, especially some ignored dates, like the quarters: 1910 D (mintage: 1,500,000) 1911 D (933,600) 1911 S (988,000) 1913 D (1,450,800) Totally ignored because of the 1913 P & 1913 S. There are others, and just a little bit of work on your part will uncover them.
I saw where there are now 5 versions of the 2010 Red Book Available: 1. Spiral Bound 2. Spiral Covered Bound 3. Hard Bound 4. Large Print Spiral Bound 5. Deluxe Journal version - Its in a 3 ring binder. (I liked this the best, but it is big and bulky and expensive.
I have heard that the journal edition, which I really like was a one year experiment. Hopefully not, but that is the rumor. The large print is kinda funny, As Ken Bressett said: 'could you imagine taking that to a coin show? And all the dealers would be showing you MS-72 coins.' However, the large print edition is nice, for home use.
thanks for posting this. i just bought the hard cover version this weekend. so, can i use their price guide now? is it acurate enough to use it as a guide when purchasing? thanks -mike
Red Book deluxe journal I picked up a copy in Barnes & Noble to look at. It was huge($30.00), might have been the deluxe journal. The pictures were just fabulous in the larger size. I think my next two price guides will be that journal Red book, and the Krause 2001 to present guide. Those two have a combined price of about $65.00.
I believe that the more books you can buy to educate yourself the better you will be, of course that is if you can afford all the books. I used to purchase a Red book every 2 years as it seemed that the prices changed enough to warrant a new book, but after Carl's comments, I will just keep my 2008 Red Book. Plus, that saves me from copying all my notes over to the new copy. Frank, as far as the Deluxe edition goes, I appologize since I was assuming that it was coming out because the 2009 edition is at my local book store. I saw the other 4 editions at the Central States Show this weekend, but did not see the Deluxe, but just assumed based on last year that it would be printed as well. So for the record, I have not seen, nor do I know whether or not the 2010 deluxe edition is coming out. But like Frank said, it is nice and I hope they decide to keep. I almost bought it few months ago, but since I already had the 2008 book, I didn't see a reason for spending all that money on a 2009. Honestly, I only use one item now to determine what I will pay for a coin and that is the Numismatic News Price Guide that comes out once a month. I feel that it gives me more up to date figures and I can judge what I will pay for a coin from that. I just use my Red Book as a reference book and for note keeping.
My coin dealer told me that the new Redbook is more realistic than before. Interested in what else you find out. Thanks
