1936D Washington

[makton]

Brand new to the hobby and made my first eBay buy yesterday for 3 Washingtons 1936 P, D and S in good to v good condition for 7.50. According to my Red book the D in EF 40 goes for 55.00, S += 15.00 and P = 5.00. My question is how far off are the Redbook prices and is there a better coin book that gives better realistic values?

Thanks,
Makton

 

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[Mackaydon]

My first concern is the price of $7.50 for those three coins. The hair on the back of my neck would rise with the suspicion that the coins (one or more) might not be genuine. Monthly coin mags would give you a more current reading of prices---and online sites might be able to give you daily values. Others here can give you the site addresses.
Don....

 

[idahotokens]

I just looked at the pics on eBay and I don't think there is any worry about them being genuine. The point is that they were advertised as good to very good and they are that. The Redbook I have (albeit a few years old), doesn't even price below very fine, so that is no help if you are going to buy Washington quarters in the lower grades. The prices you quote are for grades considerably higher than what you bought. Keep in mind that there is seldom a linear scale for price vs. grade. Typically, the scale is more like exponential - higher grades bring considerably higher prices than lower grades. Supply and demand.

Back to answering your question. A Redbook is a prime reference book to own and if you just can own one reference, this is the one. Redbook prices are not terribly far off from what you should expect to pay. But, as Don points out, there are online sources that may be more up to date. Since the Redbook is an annual publication with only one snapshot of values taken months before it goes to press (note that the 2009 Redbook has been available for some time), in these times of market fluctuations, don't count on values being accurate.

John in ID

 

[hauntedwesternny]

For up to date coin valyues in most grades buy Coin Values. They are at most magazine stands.

 

[Shake-N-Bake]

Hi there,
I you are new to the market it is a good idea to read the Red Book becuase it doeas have alot of great information in it. As for using it in the day to day value of coins it is close UNLESS the coin has a presious metal in it, such as the silver in the early quarters you bought. You have to take in to account that that book was printed months ago when silver at that time was $16 to $17 an ounce now it is $9 to $10 dollars an ounce. In the beginning of Red Book they will tell you the basis of Presious metal prices they use and that will give you an idea to go from.
I agree with the earlier post, I use Coin Values magazine for my monthly prices.
As for paying $7.50 for three silver quarters you got a good deal, silver should be on its way back up so the melt value alone is worth what you paid. but keep in mind with later purchases, jumping up a grade level can make a world of difference in price.

for example Coin Values Magazine prices on the 1936D Quarter:

G-4 $7.00 VG-8 $8.00 F-12 $10.00 VF-20 $25.00 EF-40 $80.00 AU-50 $300 AU-58 $450 MS-60 $650

As you can see there is some huge jumps between certain grades.

I hope this helps, and if you have any more questions feel free to ask.

Thanks,
Jason