1994 Red book?

[AugustMoose87]

SO I asked about it in my thread here but haven't got any responses... Would the values in a 1994 Red Book be close enough for me to get an idea of what my grandpa's coins are worth, or is it too old?

 

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[NHBandit]

WAY too old. I've been collecting coins for a very long time and I don't think any books, ever a brand new one, will give you real world values on what you might expect to SELL them for. If I have a coin & I want to know how much I could expect to sell it for I will often go to Ebay "ended auctions". not asking prices, and take an average of several different sales of the same coin in the same condition. Ebay tends to run a little higher than what a dealer would pay you though since you're dealing with retail bidders on Ebay. With that said.. if you insist on selling them for 1994 prices I might be a buyer.. LOL

 

[Mackaydon]

I agree with NHBandit; and if you don't find the site "ended auctions" look for "Completed Listings" on Ebay
Don.......

 

[Charlie P. (NY)]

Have a Barnes & Noble nearby? Pick up a copy of the CoinAge Dec '14 issue for $4.99

The RedBook will still be good for the relative values of various coins and the key/preferred dates.

A grading book or two is also a big help. More than a Red Book IMHO. Value is all about the grade.

 

[Mackaydon]

And if you want to grade your coins, you might consider this source:
PCGS Photograde Online
Don.......

 

[Beachkid23]

You can borrow them at the library if there's one close to you. I normally have them there. But yes it will help you with the key dates but nowhere Close on price...

 

[NHBandit]

I agree with NHBandit; and if you don't find the site "ended auctions" look for "Completed Listings" on Ebay
Don.......

^^^^^ What he said.. lol... I had the right idea but not the proper terminology. I use "completed listings" for alot of things when I want to get a feel for what people are actually paying for items. It's the only sensible way to use Ebay to guage value. I can "ask" $500 for the rock I just took out of my shoe but that dosn't mean that's the actual value

 

[dejapooh]

I disagree. The 1994 redbook is as accurate as the 2015 one... Not very accurate at all. What it WILL do is tell you which of the coins deserves further investigation. Check the dates and Mint Marks in the 1994. If all of the dates except yours is marked at $1, and yours is marked at $5, you have some more work to do to find the real current value. Then you can go to Ebay, or Coinage, or the gray sheet, or... If the are all marked at $1 and yours is marked at $1, you know you have a common piece, Its a type coin and VERY VERY hard to sell (in general).

 

[dejapooh]

If you just want to see what is silver, or look for key dates, your 94 book can help to determine that kind of stuff. As far as exact value? Use what was mentioned in above posts.

If your looking to do this to appraise them to divide up between family or pay your share? Be careful, they tend to get over valued and graded in these cases.

You hit it before me, but exactly correct.

 

[Charlie P. (NY)]

That's true as well. No one buys or sells at those prices.

There are several good coin websites that show what have sold at various grades. Gives you a ballpark value - but a dealer will be 20% to 50% of that depending how badly he wants the coin and how many like it he has on hand; or if you want cash vs. store credit.

 

[AugustMoose87]

Thanks for the info. That is kind of what I have been using it for so far, as well as just a google search for key and semi-key dates. There are a half dozen or so that have peaked my interest simply because of age and condition, but nothing I found suggests anything there is a key or semi-key.

So it sounds like the Red Book won't help me too much... is there a good resource to figure out some average prices? Like I said, most of what is in the collection is average, circulated condition. I'm trying to give my mom 3 values for the collection - face value, melt value, and numismatic value. I'm good figuring out the first two, but the third I'm struggling with. Along those lines, is there something similar to a redbook for paper currency? you can see what he had in my original thread, but that is stuff I have NO idea on value.


I'm basically doing a pseudo-appraisal for my mom... she has zero knowledge of coins (so only slightly less than me ) and just wants an idea of what it is worth. Long story short, the collection was split in to thirds when Grandpa died (one for each of the children). I have no idea what happened to the other 2/3 of it, but mom has decided she might try and sell her 1/3 since I am here only child with an interest. Plus she knows her dad wouldn't want us holding on to it just because it was his, he would rather my mom sell it and use the money for something for the family. I may try and buy some of the collection, but most of what I'm interested in would be buffalo nickels and silver at the moment.

 

[Joe777Cool]

I don't see any harm in using the 1994 Redbook, not much has changed in the coin or real world. Gas averaged $1.09 per gallon, a movie ticket $4, silver was at $5 per oz.

 

[CoinHuntingDrew]

I don't see any harm in using the 1994 Redbook, not much has changed in the coin or real world. Gas averaged $1.09 per gallon, a movie ticket $4, silver was at $5 per oz.

LOL

 

[pong12211]

I would get an updated redbook. Just my opinion