Discussion in 'Coin Chat' started by yakpoo, Jul 13, 2020.
$200 BELOW SPOT? Who sells First Spouse coins anywhere near Red Book prices? ...this year or last?
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Like @Randy Abercrombie said, you always need to look at what spot was when published. Same as going back to 1992 and looking at a 1942 circulated WL half. If a coin is affected by bullion pricing, (a 1921 St Gaudens is not, but a 1927 St Gaudens is), then that bullion market has to be taken into consideration. I simply look to see what premium over melt. Thinking about it, they should simply list Melt + X instead of a total price if its a coin that is affected by melt values.
It's the 2021 edition! Is gold gonna fall by then?
I was thinking the same thing.
Oh dang.... I was thinking a year back!
Plus the whole undervaluing rarities and overvaluing very common coins endemic in all catalog prices. I have written about this and why extensively in other threads here over the years.
Absolutely on such a basic price guide type thing.
Yeah, but is that why you buy a red book? While I never understood once a year purchases, its nice to have an "all in one" book of US coins. Of course, every single series you get better information with a book on just that series, but something is warm and comforting in having such a diminutive volume with essentially all US issues. I bought one a couple of years old for my sons to peruse and hopefully get the bug. I don't care if they are into US, World, Ancients, paper money, or what, just no more Pokemon cards please.
I do have several older Red Books for reference.
I would MOSTLY agree sir. However, there are weird interplays between the two. Its not all black and white.
Let's say silver is worth $10. Common g-vg barbers are worth a premium. Two separate markets. A half dollar might be worth $4 melt, (rounding), and $8 as a coin.
Let's make silver $25. Now those vg barbers will still be worth more than they were when selling as "coins", $10 for melt, but they will still hang on to some premium, so maybe $12 as a coin.
Let's make silver $50. Now they are all worth $20 melt, and no premium for being a g-vg barber.
This is roughly how I see it happening. So, I mostly agree sir, but in the middle there are weird interplays between melt and collectible coin prices usually.
My play I used to like to make was buy junk silver bags put together when silver was high, and buy it when it comes back down. Play the arbitrage of some coins converting from melt to coins. The downfall for me is I never sell, so it didn't really work too well.
I hear you on that "downfall." I've the same weakness for these coins. Lol.
The book isn't written by Nostradamus <grin>. They aren't trying to predict the future. When it was published, spot was probably $1500. It was published in 2020.
This is located in the Gold Dollar section of the book.
I'm a newbie but I still have a current opinion: I don't totally agree that it is this worthless. I have done a lot of comparing of prices from the red and blue books and online. These books are pretty darn useful IMHO. I try to buy coins between the two book prices.
By the way, I talked to the editor of the red book. He says the prices are accurate for the most part but that it is just a guide to start with, not an end all look nowhere else price book.
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