|The New Coin Price Guides are Worth the Money|
It is July and that means to coin collectors and dealers alike that the new Price Guides are here. By far the most famous is the RedBook by R. S. Yeoman and edited by Kenneth Bressett. The new 2006 edition went on sale July 5, 2005 and is already ranked #15,594 at Amazon.com. Since 1947 the Red Book has been the definitive guide to coin valuations for an ever growing population of coin collectors. Even the Red Book itself has become collectible with the 1st edition valued at $750 in VF condition.
The Red Book contains valuable information in addition to current coin values such as coin mintages, grading standards for each coin, coin weight and dimensions plus detailed color pictures. There are numerous other resources included with An Introduction to US Coins, Rare Coins as an Investment, and Regular Mint Issues in the forward section. Popular Coin Hoards, the Top 250 Coin Prices Realized from Auctions and a Glossary round out the afterward section.
The new RedBook is published by Whitman and comes in paperback, spiral bound (recommended) and a hardcover edition. This 59th edition is illustrated in color throughout which is a notable improvement. Since it first appeared over 21 million Red Books have been sold.
Both of the BlackBooks have new 2006 editions out as well. The Official BlackBook Price Guide to US Paper Money and the Official Blackbook Price Guide to United States Coins by Thomas E. Hudgeons Jr. were released on June 7, 2005. The BlackBooks are smaller and done entirely in black and white. But they are also cheaper than the RedBook and contain most of the information the RedBook does. At $6.99 and $7.99 respectively they are worth their money in valuing your collection.
Whether you choose the RedBook or the BlackBook or like me both, I strongly urge you to purchase at least one. The coin market has gained in value tremendously since the US State Quarter program started in 1999. The millions of new collectors gained from the State Quarter program has driven the prices up on coins in general. To make sure you don't sell or under value your collection it is essential that you stay up on current market prices. I also recommend that collectors subscribe to a monthly or quarterly coin magazine for this reason as well but more on this later.