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 Replies: 66 / Views: 9,112 |
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CCF Advertiser
United States
1533 Posts |
Oriole, I too look at bullion purchases as more like stock market investments. Highly liquid investments that I could sell immediately at a modest loss if needed. Buying 10 oz of gold is like buying $13K of a stock. Spending $10K on a coin is a whole 'nother matter.
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New Member
Canada
13 Posts |
Hello,
A lot of Money for a Coin is relative.
What you can afford is the question for me and that is different for everybody.
To buy a silver or copper coin for 500$ is for me expensive but to buy a gold coin for 500$ is not.
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Pillar of the Community
Belgium
1185 Posts |
there are two answers
* in absolute terms: when you need to think twice (or three times) whether or not you can afford buying that particular coin
** in relative terms: when the price asked is higher than recent selling of another coin of the same type, same quality ; this requires some homework; unfortunately it does not work for rare coins
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Pillar of the Community
United States
655 Posts |
Thanks for bringing back this thread. I never got to respond. For me, expensive would be $500, either for one coin or just at one time. Reason is because at that level or more, I would need to sell other coins or notes to help pay for it. If it's a buy that can't wait, I'll put it on my CC but then I'll also have to do the same to pay it off. Still, I don't really have an upper limit on what I might buy a coin for except this.
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Valued Member
Canada
139 Posts |
I tend to spend less than $100 on a coin, I tend to look for value, if a coin lists in trends for $25 I want to get it for $15 or less, the most is $135 on a 1926 far 6, I want an 1858 penny and a 1948 50 cent soon, I am not afraid to overspend.
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Valued Member
United States
96 Posts |
For me it's my monthly budget rather than the price of a coin. I'm very happy and comfortable with my 20-70 dollar coins. Mercury Dimes-Hey Sometimes I have to roll that monthly budget to get the one I want.
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Pillar of the Community
United States
4333 Posts |
For me, turning paper into gold is a no-brainer. However, don't ask my wife for her opinion.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
6130 Posts |
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Pillar of the Community
 United States
744 Posts |
Most I've spent on 1 coin was $1550 for the High Relief Gold Eagle a couple years ago...
I have a few other gold coins that cost $300 - $500 or so, but only a few...
Normally I try to stay at 100 or less...
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Bedrock of the Community
United States
10047 Posts |
Any price, unless I make my the hobby pay itself (which I do), is expensive for using household money. I don't do it.
I spend a lot of time looking for bargains and using those bargains/investments to afford what I want. The most I have used this system to get is the JFK 50th anniversary gold half. It cost me only enjoyed time with coins so I consider that half as having been something that profited me to go after rather than being "expensive."
My glass insulator collection also has all been "free."
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
7963 Posts |
Lots of interesting viewpoints!
I set aside my childhood collection (in which I am pretty sure I never paid more than $20 for a coin ... that goes back to, say, the mid 1970s) when I went to college, and got seduced anew by coins when I was in my 40s, with (fortunately) a different level of means.
I'd have to answer the question like a few other posters who considered thresholds like $500. In the 20 years that I've been collecting as an adult, I've bought maybe 10 coins which have taken me over that threshold. I have bid on (and not succeeded) on a few more.
So, that's an amount that really makes me think about how much I want the coin.
Like others, I have a few holes in my collection that are likely to take me beyond what I've ever spent, if I ever decide to fill them (a coin from the reign of Wladyslaw IV of Poland for example).
Through work, I am also exposed to the world of fine wine, and I sometimes wonder about how winelovers make similar decisions. I have a hard time imagining plopping down $50 or $100 on a routine basis for something that just goes in one end and out the other. But I guess that's what makes the world go 'round!
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Pillar of the Community
United States
4333 Posts |
I like gold.
It's not cheap
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
2217 Posts |
When I see a coin I'd like but can't afford it, it's expensive.
Edited by jpsned
04/07/2018 10:48 pm
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Pillar of the Community
United States
2217 Posts |
Quote:
Through work, I am also exposed to the world of fine wine, and I sometimes wonder about how winelovers make similar decisions. I have a hard time imagining plopping down $50 or $100 on a routine basis for something that just goes in one end and out the other. But I guess that's what makes the world go 'round!
Winston Churchill once said, "It doesn't take all kinds, but there are all kinds." |
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Pillar of the Community
United States
1261 Posts |
Quote:
2017 was a buying year for me...However, I'm going to slow down in 2018 It's interesting revisiting this thread as that was my comment from the beginning of the year. Except, I haven't slowed down yet. I guess it's never too late!! |
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Posted 01/23/2018 5:41 pm
