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Are the prices in the 2009 Pick Catalog correct?


Rhino
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I just got my new copy of the Pick Standard World Paper Money 2009 (12th edition) catalog (before I was using the 2000 copy). Now, I went back to compare how my collection (only Russian banknotes) has changed over the years in terms of value, and I was shocked to find how high some of the prices were :ninja: Are they correct?? All my notes I was able to get at 60-75% LESS than what they listed the value to be for the specific grade.

 

Are those prices right? Is that what is considered the true value now? I mean is Pick a good standard still, or did they make the price estimates a little too high??

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Interesting question.

I was surprised. the common 20 century note had new values, very high, althrouh the appear on ebay/meetings etc very often and the 19 century notes, very hard to see( buying is even more problematic....) had a steady value.

Who will not give , acording to Pick new catalogue, ten notes of 500 rouble 1912, Shipov, in vf (120 $) to a note of 1 rouble 1866-1880, in decent f condition?

If some will, please let me know.

But how about Germany and Danzing for example- 100-300 %. Baltic countries- tripled but can be found on ebay at 0,99-5 $ ( CV=30 $ for 10 lat 1938 for example) But the France had only 5-10% up, and the UNC values are very low, compared to the fact that some notes are imposible to find in UNC.

I think that, in general, the UNC values are ok, it is very hard to find a perfect note, even if it is common. I mean, the Soviet 1938 series can be found everywhere but try to find a perfect UNC or at least XF...

 

But another example. 25 and 200 korona Austria and Hungary 1918. I think that a major rewriting is needed, bouth the values and the types(it is a complete disaster there).

 

As for Germany, for example in Munchen in march, the 100 mark 1908-1910 (large size) are sold with 1-3-5 euro in vg- f condition. And with 5-10 you can find a decent VF. Pick new values- 30 -35 $ (25 euro) for vg and 150 !? for vf. And Russia- 1 rouble 1898 common and vf condition. Does anyone pay more than 1-2 $ for it?

I think that the values are purely speculative. and the old catalogue(2000 edition) is better.

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I don't trust SCWPM values. They are not reliable. The real market values are determined by how much collectors are willing to pay. I think prices realized at auctions better reflect the true values.

 

The prices are what their contributors listed in the front of the catalogue report to them. I know several of the contributors and their vested interests in what the prices are. So for instance if one has a lot of inventory of a note they tend to report higher prices to Pick and then price their notes lower on their sales looking like they are selling at a bargain.

 

In contrast if they are strong collectors or buyers - prices go the other way - lower to reflect that they want to buy the said reported notes at lower prices.

 

Collusion - yes, accurate - no.

 

Last night I bid on an auction where I knowingly and willingly paid more than double the Pick catalog on a particular note because I know that it is a lot scarcer than is reported. I know the prices on some areas, notably late 19th and early 20th century Mexican and Canadian notes are way out of whack in the catalogues and can only be used as an idea and not gospel.

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I just got my new copy of the Pick Standard World Paper Money 2009 (12th edition) catalog (before I was using the 2000 copy). Now, I went back to compare how my collection (only Russian banknotes) has changed over the years in terms of value, and I was shocked to find how high some of the prices were :ninja: Are they correct?? All my notes I was able to get at 60-75% LESS than what they listed the value to be for the specific grade.

 

Are those prices right? Is that what is considered the true value now? I mean is Pick a good standard still, or did they make the price estimates a little too high??

 

There is a bit of an illusion going on, from 2000 to 2008 there was 20% inflation for the US dollar (That is actually a normal rate for USD). So take your old catalog value, add 20% and see how close it comes. Rarely do things increase in value they just inflate. The Bureau of Labor Statistics has a good calculator http://data.bls.gov/cgi-bin/cpicalc.pl.

 

What I think is funny is where I live in the North East US, if you go to coin shops , the prices on banknotes are marked up higher than what is in the catalogs sometimes 60% higher. I know they do have to make a living, but I also know I do not have to support them.

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As others have mentioned SCWPM should not be relied upon at all for prices. In the area of my interests the prices are so far detached from reality that it is not not even funny.

 

There is another issue to the catalog though, and that is of completeness and accuracy. While it is probably 95% complete and accurate, I use it only as a general guide for areas which are of peripheral interest to me. I do use specialized references when necessary. That said it is one of the most valuable resources for a banknote collector.

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  • 2 weeks later...

The catalog prices seem to be more and more off the more I use the catalog. Example:

 

I just got 2 new notes: Ukrainian 5 Karbowanez 1942 and 200 Karbowanez 1942, I would consider them both VF, but even if I played it safe and went with VG, the catalog price for the pair would be $100 :ninja:

 

I paid $18 for the pair ;) is the problem that bad, that prices can be 450% off? Why even include the prices then if no one trusts them? Before when I originally posted this question it was an issue of +/-$10, but now it's just insane for my latest purchase...

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The prices are what their contributors listed in the front of the catalogue report to them. I know several of the contributors and their vested interests in what the prices are. So for instance if one has a lot of inventory of a note they tend to report higher prices to Pick and then price their notes lower on their sales looking like they are selling at a bargain.

 

I agree with you on the "vested interests". This also happen here. Maybe they should do away with the catalog prices. Some may said that it is a rough guide. I think it just bring confusion and mislead many people.

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  • 1 month later...

Catalogues are good as they let you know what to look for, but as far as prices are concerned....forget 'em! The way I view it is you might have a note that is listed for a lot of money but if yuu cannot get a buyer....it's worthless. A banknote is only worth what someone will pay for it.

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