RED BOOK IMPROVEMENTS TARGET MISINFORMATION

Recently, the new owners of the "Red Book" hosted a multi-day summit to discuss ways to improve the Guide Book of United States Coins (Red Book). One of the topics included a discussion about including more detailed information and illustrations referencing coin grading. There are plans to more fully explain the vast jump in prices for coins from one grade to the next.

Also, we will include information about ultra-grade coins and why they bring so much. The Red Book has a tremendous amount of information for those unfamiliar with the hobby. The reference will need to include a robust section about misinformation.

Probably the most prolific topic we receive emails about are error coins, or what people think are error coins. The below pictures are examples of the sort of inquires we get almost daily. We usually tell people we do not handle error coins, but this is just trying to be kind. Many individuals become confused by damage on coins, so they believe it to be a mint-caused error. The value of minor mint errors is grossly overestimated by the general public.

 

Experts are often sent photos like these by people who believe they might have a rare error coin.

We receive dozens of calls and emails each week about recent vintage coins and mint errors. Everyone in my company tries to be helpful and educate people about the true value of what they have. It can be a difficult task, as not everyone likes what you're telling them and so they become distrustful.

One important tip for anyone who seeks out information about the value of something: Do not argue with the experts. This can lead to confrontation or being hung up on. Be patient and trust the experts who have been doing this for decades.

To read the complete article, see:
Jeff Garrett: Fake News and Misinformation in Numismatics (https://www.ngccoin.com/news/article/13113/)

	NBS (coinbooks.org) Web