2011 Red Book?

Well just received an email from Whitman Publishing about the pre ordering of the 2011 Red Book. This still erks me. It is barely the end of January, 2010, and the 2011 Red Book is about to be put on the market.
I realize this book has tradionally come out one year ahead of time, but now getting close to 2 years ahead.
I know full well the reason but still. According to Dennis Tucker, Publisher, the original Red Book was produced in 1946 and carried the 1947 date and that has continued ever since. I'll get used to that in few more hundred years. dd:

 

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It didnt state what was new for 2011 other then "prices"?

ive had my 2010 for about 4 months

 

Red Book really needs to go to an annual subscription online price guide. It's ridiculous that the day this book comes out it's obsolete, not to mention the fact that it says the following year...

Not only is it bad at telling the future - it can't even get the present right!

 

Aw heck Carl, I read somewhere the 2015 edition was coming out next month.....

 

I just got my 2010.

 

Carl: You could just wait until 2011 to buy a copy, maybe even on discount and then live in the past tense while the rest of the collectors cite the currently published edition... It's not like the prices will much have caught up to anything printed that far in advance, not even for a few years. :hammer:

 

I will be interested to see if values have changed in the next Red Book to reflect the decreases in some series we have seen in the past year. Does anyone know how "reactive" the Red Book is to actual changes in prices over the year? TC

 

I usually skip a year anyhow, so if I buy the 2011 I wont have to buy another til the year 2013. Arn't too many major differences anyhow...

 

....i'm still using my 1965 issue!

 

lol, let me know if your selling at '65 prices...

 

This brings up an interesting point. If a person does not collect Redbooks, is there enough new information in it each year to justify buying every Redbook? Or, is it wise to skip every other year, and spend the money on something else?

 

Exactly...

 

No. I'm currently using a 2006 (came out in 2005) and I hae no desire to get a newer one. The prices are meaningless and the only new info would be mintages figures for a couple years later than the 2006, the rest of the state quarters pictures, first couple President dollars and the NA dollar, and a list a couple more commemorative dollars. That's about it, after five years.

 

....i did get a copy of the professional red book and i do like it very much.

 

The Redbook is really the only yearly published book in coins I have purchased. Is there another book anyone would recommend that is packed with good information on U.S. coinage?

 

From year to year, I don't see prices change much more than $5 to $10 at the most unless it's gold. Most stuff you compare, the prices don't even change. That's why many people skip years buying them.

I think a lot of people act like there's some $50 to $100 wild swings on common stuff from year to year, trying to keep up with the market and there just isn't.

If you want exact, up to the minute, to the penny prices, it can't do that. I don't think anything can! If you want a convenient, handheld guide of prices that are accurate to within +/- 10% almost every time, it does do that. But you just have to realize that. I don't consider that bad.

Let's look at a random example. I found a NGC 1849-O XF40 one dollar gold piece that I really liked. A neat, late die state coin with some interesting die cracks. Mintage- 215,000 Total NGC/PCGS pop. <1000

Ok. Lets look up the price and compare with what the seller wants.

2009 Redbook - $300
2010 Redbook- $285
NGC price guide-$275
Current grey sheet- ?? Don't know. The prices are generic for these so would not be helpful to me anyway.
Seller's asking price for the coin- $290 with free shipping. (figure shipping will be $5-$10 insured)

So asking price is $15 above NGC and $5 above current Redbook. Now, I know many would say they have to buy 20% below Redbook before they will buy or feel like they got a 'deal'. But in reality, if they want this coin, then they can't buy it. Because the seller isn't going to drop the price 20% for them and then take a 12% cut in fees on top of it. So they simply can't buy the coin.

In that case, neither pricing opinion is right. The transaction simply does not happen.

Even though I felt the price could have been better, but realizing this seller is going to lose 12% ($35) in fees on top of it and shipping was included, I decided this was a fair enough price for me and purchased it. Because it was somewhat unique and I doubted I would find one like it at a show.

I didn't buy it for a quick flip to brag about. I never do. It was for my collection and to me, I felt it was worth it. I don't care what somebody on a soap box thinks I 'should' have paid for it. I don't feel the need to low ball a seller every time to feel good about buying something. Sometimes it's just fair and you take it or leave it.

So, given this information, I paid less than 2% or $5 over current redbook price with free shipping. Even though I did not consult it alone, was the redbook a good, bad or 'adequate enough' guide for this transaction?

I know the proper thing to do is for everyone to jump on the bandwagon and act like it's such a horrible guide but I've never thought it was that out of line for 90% of what's in it. Maybe I'm the only one that sees this but IMO, people blow it WAY out of proportion.

I've given many examples how close it actually can be. I've never had anyone show real examples of how far off it is. I would be interested to see them. I don't disagree that they may be there. But I haven't run across these huge discrepancies in my day to day dealings. Therefore, I don't tend to attack it as others do.

Just my 0.02 cents on the matter.

 

Very, but it depends on the input that they receive from the dealers/contributors.

Excellent version. The best, and many new varieties listed.

There aren't any.

 

Aw heck, Carl.
This is the same thread that you start every year.

Green: Ya know-- that is just plain cruel.

Ya mean that you don't collect them?

hmmmmmmmm....

we gotta talk.

 

This version is on my to buy list. I have heard very good reviews. TC

 

TC
Go for it.

Excellent reference.