Whats going on with Early Washingtons?

[Robarons]

Up until recently I used to prefer older 90% when it came to buying bullion. If you had a choice of buying a 1964 Rosie or a 1897 Barber at 12x face which one would you prefer? However because of the extreme rise in silver almost any numis that those coins is gone and now have a caveat- worn coins are worth less. So now you have to aim for BU 1964's to get the most bang for your silver buck.

However I used to buy early Washingtons the same way and these suckers book for some extreme values for some reason. Here are some examples in EF-40:
1936-D $55!
1936-S $15
1937-D $15
1937-S $35
1938-P $15
1938-S $20
1939-D $11
1939-S $20
1940-D $24

I have these- even some multiples of 1936-D, but are these prices even reasonable? I cant see me even getting close to these prices if I went to sell- heck I wold likely only get melt! And in conditions less than EF40 can you expect very much numis left (melt is $7.50 for any quarter now anyways).

Thoughts?

[Oakair]

http://numismedia.com/fmv/prices/wshqtr/pricesgd.shtml

Im not seeing those prices reflected here...But I also don't much follow numismatics as Im just in it for the metal

[Robarons]

I was using a 2009 Redbook as a reference. Prices may have changed (if so then this topic is null and in void) but if not why did they post those prices.

It doesnt help their case when clicking reference price guides (like the one posted above) shows no crazy prices.

[Oakair]

http://www.ebay.com/sch/i.html?_from=R4 ... Categories

Ebay also doesn't help their case

Thats weird that the redbook listed those prices...Ive got no explanation, just examples to the contrary

[68Camaro]

Dunno, but condition is everything, and EF-40, even though not superb, is a very unusual quality in those years because they were so well used. Out of about 100 I've gotten in trade, only a 1 or maybe 2 are of that grade.

[beauanderos]

Red book is what LCS charge, blue book is what they pay (and more of a realistic value, most likely)

[ardorlan]

Red book is what LCS charge, blue book is what they pay (and more of a realistic value, most likely)

What is a good blue book I can buy on Amazon or read for free online?

[gilpo]

It would be better still to get a copy of what dealers call the gray sheet. It's the coin dealer newsletter. Comes out every couple weeks I think and it tells dealers what to buy and sell coins for. Most dealers go by it. If you find a small coin shop, they might give you an old one of even let you look at their current one. Just be nice to them and they'll be nice to you.

[neilgin1]

thank you for that testimony. in Feb 2008, when i got serious, i made up my mind, i was an intrinsic collector, not nusimatic, and with your post, you have assured me, my path was correct, i dont write that to bray at you, i'm thanking you. When i started slashing and burning, IF i DID buy anything, it was GEM/BU's of 64 Washingtons, 64 Proofs, roll after roll, 63's, 62's 1959's at 12X's, 13X's 14X's...heck, when stuff was trading 12X's, and knowing what floor trading was like; i'd get vicious and just outbid anybody and pay 14 or 15X...when rolls of ASE's were trading 300 to 320, a guy would pop up with BIN's at 360,multiple rolls, i''d pick him off with nary a complaint. There was a time, recent, when Ebay was loaded with roll after roll of 64 Kennedy's GEM BU's all of them, and guys would be fighting it out over early Franklins, i'd slash and burn and get all them 64 Kennedys, 12 to 16X's bam bam bam....and just kept going...20X's? NO PROBLEMO...BUY IT!...going into the bank, getting brick after brick of nick's, stacking those. Hitting sellers of copper lincolns in bulk....1.5? no problemo, BUY IT!...i never did get a ryedale, coz i was in fear of being late to the party, no time to sort or go to banks, instead i bot a 400 dollar wheat grinder, and buckets of wheat berries, hard red spring.

REASON BEING, in all my years, i been taught, thru hard lessons, you see a bull market, you slash and burn and buy whatever you can, and dont be thinking. Thinking will mess you up. and if anybody "thinks" 32-33X's is "too high"?...they are out of their minds! before you know it, 100X's face gonna be the norm. watch.

as my way of thanking you brother, let me give you a nudge; an undervalued PM is "lead"...you feel me? Don't neglect that, no lead, and your other PM's value will be "lost"...nuff said.