Ok I am having a penny adventure so to speak and I want to get a good idea what prices are. I know of certain ways that I look but I would like to hear folks thoughts on the good and bad of these.. First is the Red Book, we all have em, but what do we really think of the prices? My opinion is it is the first book I grab and I automatically deduct 40%. Next up is my favorite....the Blue Book. I find this one to have the most realistic prices. Sometime high but then again sometimes low...This is usually my starting point. Next is this little guy I really like it as it has Canadian and Mexican coins also. Prices however are too high, near Redbook prices but still it is on my shelf for sure..mintage information and the North American part makes it indispensable to ones library. Next is one of the nicest of the bunch, It too has high prices. However it is affordable and has color pictures and is well done. It also is in my library. Here is one that I do not have, too expensive but still would be hard to be without if one has foreign coins. I bought an older version for around $10. Still a newer version is a must for a coin library. So, until last week that was my hardback resource. I added to it with this little beauty, I think I should have got one of these a long time ago. Keep in mind, it does not replace the Redbook, it complements it. If you are tired of looking in the redbook to get an idea of what a coin in MS67/68/69/70 would cost, then this is what you need. However, I do think one should not automatically divide the price by half. It seems to be more in line and has actual auction results. I am glad I added it and I am not quite done learning just what is in it. Then there is the greysheet. Expensive for a hobbyist but vital to a dealer. I am still wondering about the Bid/ASK and how accurate they are. As a Kennedy guy, this book is a must own but the prices are not realistic....just thought I would toss this in for good measure... So now you are armed with a libray of books. How can one determine what good prices are? Online resources are also very good....here are a few that I use.. Of course eBay past auctions SOLD, and Heritage past auctions... Here is one of my favorites (Book mark it trust me!) http://www.coinsociety.com/priceguide And another, bookmark it also..... http://www.numismedia.com/fmv/fmv.shtml And one last one that I just kind of like, http://www.usacoinbook.com/coins/small-cents/lincoln-wheat-cent/ So this is what I use to determine pricing or at least to get an idea. I have found the BlueBook to be the most accurate for common stuff in 65 grade or less. For the > 65 slabbed ones, online is the only real way unless you consider the RedBook professional edition. I hope this has helped at least one person. I will caution though, this is not always fool proof. What are common wheats worth? Indians? ....that I am still wondering.
I use Heritage past auction archives as well as current listings. The current listings have price guide info for PCGS, NGC, Numismedia and a couple other sources.
