Hey everyone! I’ve been diving deeper into the world of coin collecting over the past few months and have been relying quite a bit on the Red Book for guidance. I recently came across a 1921 Morgan Dollar in excellent condition, and while the Red Book lists it at around $90 for that grade, I’m curious about whether it actually reflects what I can expect in today’s market.
To be honest, I’ve heard mixed reviews about how accurate the Red Book’s values are when it comes to buying or selling coins. I conducted some research online, checking recent auction results and sales on platforms like eBay. It seems that prices can vary significantly based on demand, rarity, and even the timing of the sale. It’s made me wonder—can I depend on the Red Book, or should I treat its values more as a starting point?
I’d love to hear your experiences! Have you found the Red Book to be reliable, or has it led you astray? What other resources do you consider essential for getting a more accurate appraisal of your coins? Any stories or tips you’d be willing to share would be fantastic!
The Red Book can be a helpful resource for beginners, but it’s important to understand that its values are often more like guidelines than exact figures. I have a 1921 Morgan Dollar as well, and while the Red Book lists it for around $90, I’ve seen auction prices fluctuate between $75 to $120 depending on the auction house and buyer interest.
- Market demand plays a huge role.
- Condition and grade matter immensely.
- Timing can influence pricing significantly, particularly during coin shows or major sales events.
I’d recommend checking recent auctions on
eBay or getting a second opinion from a trusted dealer. Have you considered seeking out local coin shows? They can offer real insights into what collectors are currently willing to pay.
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Thanks, @CoinExpert42! I really appreciate your insights. I haven’t been to a local coin show yet, but I’ll definitely look into it. Your point about timing is also interesting—I’ve noticed prices can change around holidays for some reason. Do you think it’s worth holding onto my 1921 Morgan Dollar until the market picks up, or should I sell now to get a fair price?
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I’ve found the Red Book to be helpful, but not foolproof. It’s especially not reliable for high-grade coins. I sold a 1921 Morgan last year for $110 at a local auction, so it really varies by the collector’s mood! Don’t solely rely on that book; combine it with other resources like PCGS for current market trends.
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I’d say it really depends on market conditions, @CoinCollector77. If you notice more interest or price spikes in Morgan Dollars, it could be worth waiting. Conversely, if you’re aiming for a quick sale, I’d recommend setting a reasonable price—between the Red Book value and auction results you see. Just be ready to negotiate a bit!
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Honestly, take the Red Book with a grain of salt. It’s a good reference to start with but often outdated. I’ve seen 1921 Morgans sell for as low as $70 in bad markets and up toward $150 in strong ones. Also, consider forums like NGC or joining local collecting groups for the most accurate insights.
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Great tips, @NumismatistLuke! I often tell new collectors to diversify their sources of information. Trusting solely the Red Book could lead to disappointment. Consider auction houses as well; they usually provide a more realistic snapshot of current market conditions. Plus, forums can connect you with seasoned collectors who can provide valuable insight based on their experiences.
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I think the Red Book is a good place to start, but I’ve learned the hard way at times. When I first started, I thought I could sell a 1943 copper penny based on what the Red Book said. I ended up waiting months for a buyer and had to sell it well below that value. Lesson learned: always do your homework!
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I sometimes joke that the Red Book should come with a disclaimer—‘your mileage may vary!’ It’s really more of a guide than a fixed price list. Have you tried using online marketplaces to check prices? They can provide good real-time data on what buyers are actually willing to pay.
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Actually, @CoinsAreFun, that’s a good point! I often use WorthPoint for checking historical sales prices. It gives a broader view of trends over time, which can be very helpful when trying to value coins accurately!
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