Do You Have A Spending Limit Per Coin?

My spending limit increases over time because I buy coins for two specific reasons:
1. To resell for a profit.
2. To keep in my own collection.

So if I find something I want in category 2, I just repeat category 1 until I can afford it. even if I start out low in the beginning of cat 1, the limit there increases quite fast. So right now, I'm in the $200 range of my cat 1 buys. I keep on doing that until I find something I want as a cat 2 coin.

The only problem is that if I buy a cat 1 coin, and starting to like it, then it turns into a cat 2...

It is difficult to set a limit when you have holes to fill.

That being said, I will limit the grade to keep the price reasonable. For the classics and my 7070, I collect circulated coins, so this is not a problem for me.

I could be pushed as far as $10,000 for a spending limit, but I have never spent anything like that on a single numismatic item in my life.

I bought a couple of ancient Greek and Roman gold coins a very long time ago (decades) but I haven't spent at that level since.

I don't have credit card. If I visit a coin show, I take a pre determined cash limit with me.
You can't go over your limit if you have cash only. When it's gone it's gone. No mun, no fun.

It used to be around $100 for me, then I saw a few coins that were a bit more that I felt I must have so I bought them. My limit then slid to around $300 to $500. It stayed there for a while and I kept coming across nicer and nicer coins I really wanted. Now my limit is around $1000 but I just spend about $3500 for a coin recently.

So much for spending limits for me. The good news is I've been pretty successful selling my coins for at least a little profit to finance my next purchase. I try not to get to "attached" to any of my coins so I will allow myself to resell them at some point. And when I do so I just tell myself I was "renting" the coin for a while and I seem to be okay with it. :)

Most of my purchases are no more than a few hundred dollars. If I like something and/or can resell it for a profit and can afford it, I would be willing to spend much more.

That is a hard question.

When I started out .. I wanted to get all my coins out of circulation. As I got older I could see I would not be finding all the coins I wanted and I would have to start purchasing them. In the 1980's I think $50 to $100 would have been my max.

As time went by I felt much more comfortable spending a few hundred for a single coin.

Now I see that, to do a set of coins you should commit to purchasing the top coins for a any set you wish to put together. This line of thought, has caused me to put some sets I started on the back burner.

Now days it is easier to purchase $400 to $500 coins .. but I try to give much thought before I buy.

Very nice thread!

Well..... I mostly collect proof silver and gold coins... and they either are 1 oz, 1/2, 1/4 or 1/10th.

Sometimes theres an exception to those sizes..

But back to the point... I just decided... If I want it, I pay for it. Period. No ands, ifs or buts.

How do I figure what I want to pay and try to avoid over paying?

1- I try to buy direct from gov mints if at all possible. Therefore, all my silver and gold ealge proof buys are from the US Mint as an example.

2- I have found ebay auctions for coins give you a fair market price when you buy, so I wait for auctions on the coins I want.

3- The more harder to find the coin,,, the more I am willing to pay up from a dealer for a specific silver or gold coin.