Which Coin Price Guide Should I Use?... The Red Book? Or The Black Book?
Price guides are an essential part of coin collecting whether you're a beginner or an expert.
Not only do they offer current prices on all of your U.S. coins, but they are also loaded with tons of useful knowledge about coins.
Where do you think I learned everything I know today? Only half of it came through actual experience of owning coins. The other half is from reading through several price guides, coin books, and articles on coins.
Here are some of the differences between the most popular coin price guides...
There are several coin price guides out there made by different companies, however I only use a few so I'm not familiar with a lot of them.
The two I use most are the Black Book and the Red Book.
The Red Book is published by Whitman.
They're one of the more popular distributors of coin supplies, and they are frequently referred to often by coin dealers as a reliable source of information about U.S. coins and American currency.
The Red Book has been valued by hobbyists for more than five decades as a comprehensive reference to historical data and current retail prices for all United States coins. Chapters in the book include detailed listings of Colonial coins, from 1616 to the opening of the federal mint, and all United States coins, including early American coins and tokens, early mint issues, regular mint issues, proofs, private, state and territorial gold, silver and gold commemorative issues. Source
The Black Book is published by House of Collectibles.
It is sometimes referred to as the Blackbook, and it's also a popular price guide among coin collectors.
They also make a Blue Book, although I'm not sure exactly what the differences are in it. It is published by Whitman -- just like the Red Book is. The only difference may be that it is a softback book, and it's a little cheaper.
The Best Coin Price Guides: Red Book vs Black Book
Both the Red Book and the Black Book list every U.S. coin ever minted.
What is the difference between the Black Book and the Red Book? Well, price for one. The Red Book comes in hardback and spiral editions whereas the Black Book is a soft paperback. You can pick up a copy of the Black Book for about half the price of the Red Book.
I prefer the Red Book because it offers a lot more details about the coins, such as where the mint marks are on the coins you're looking up, close-up pictures of double died coins, close-up pictures of errors on coins, history of the coins, etc.
The Black Book also gives a brief description and sometimes a little history, but not as mush information as the Red Book offers. The Red Book also has full color photos, whereas the Black Book only uses black and white photographs.
You do not have to use either of these books if you don't wish. You may find another book that is more to your liking. But my first pick is the Red Book.
How To Decipher The Codes Inside Price Guides
Inside coin price guides you will find abbreviations such as G, VG, F, VF, EF, AU, MS, PF, BU, etc. So what do these abbreviations mean?
Well, if you open up one of these books and try to find a price of a coin without reading the front sections first you may be a little baffled. Here is the breakdown:
G = Good - Refers to a coin with a grade of Good.
VG = Very Good - Refers to a coin with a grade of Very Good.
F = Fine - Refers to a coin with a grade of Fine.
VF = Very Fine - Refers to a coin with a grade of Very Fine.
EF = Extra Fine - Refers to a coin with a grade of Extra Fine.
AU = About Uncirculated - Refers to a coin with a grade of About Uncirculated.
MS = Mint State - Refers to a coin with a grade of Mint State.
PF = Proof - Refers to a Proof coin.
BU = Brilliant Uncirculated - Refers to a coin or roll of coins in Brilliant Uncirculated condition.
Now, there are several levels to each coin grade. Even if the difference between two of the same coin is only one number and not detectable to the naked eye, the difference in price could be a lot. For instance, coin grades will contain levels such as G-4, VG-8, F-12, VF-20, EF-40, AU-50, MS-60, PF-70 and everything in between.
Of the coin price guides discussed here, the Red Book tends to be more helpful for beginners when trying to identify the grade of a coin -- to some extent. However, being able to accurately grade a coin really comes mostly from experience and a keen eye.
I found a penny dated 1912. Can you tell me if it has any value?
I found a 1951 penny and its in perfect shape could you tell me if its worth anything.
Hello, I am the owner of Young Gun's Coin Company. I can tell you what the difference is between the Red Book and the Blue Book, by Whitman. The Red Book gives you current prices of what the coins are worth, and what collectors can expect to pay. The Blue Book gives the "Dealer Price". The "Dealer Price" is what a dealer will pay you for your coin.
***Example... The Red Book says a certain coin is worth $100. The Blue Book says that coin is $50. Unless you are a dealer, only expect to get around $50. This is the difference between the Red Book and the Blue Book.
p.s. Coin price guides just give you an approximate price. If a Book says $100. Fair prices will be between $80-$110 or so.
HOPE THIS HELPS TO CLARIFY COIN PRICING FOR YOU!!! If you want an appraisal on any of your coins, that's cool, just send me an e-mail. herr5052@aol.com