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 Replies: 66 / Views: 9,136 |
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Pillar of the Community
Canada
5258 Posts |
This is an interesting thread. While the subject was the price of an individual coin, nobody relly talked about a total coin budget on a yearly basis. You may not spend $1000 for a single coin, but would you routinely spend $100 a week for stuff at your LCS?
Do any of you have an annual coin budget that you keep in mind?
If so, it may not be entirely logical-and that gets into an interesting study of the psychology of purchasing and the price points people are comfortable with. I am certainly not pretending that I am entirely logical, but this thought came to mind.
Personally I look at purchases at bullion value quite different from ones that have strictly a numismatic value. I am conscious that a bullion coins can be quickly sold if necessary with a modest loss, but it is not necessarily the case with other purchases.
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Pillar of the Community
United States
7840 Posts |
One that I have to make payments on.
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Pillar of the Community
Belgium
1194 Posts |
Having 70 years now , I spend all the money I do not need for living for my coin and antiques collection .For coins , I am looking for types fulling a hole in my collection , for antiques , I prefer Agyptian , but there is sometimes a price problem , but I look always for a very good quality , it is a conditio sine qua non . albert
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Pillar of the Community
United States
2220 Posts |
I've never paid more than $150 for a coin. Would like to but don't have the bread to do so.
Edited by jpsned
01/17/2018 2:27 pm
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Pillar of the Community
United States
8715 Posts |
The most expensive coin that I bought was an 1895-O Morgan dollar for $295. I haven't gone over that. |
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Pillar of the Community
United States
1101 Posts |
The most I ever paid for a coin was $530.00. It was a 1799 silver dollar grading EF. I bought it about 40 years ago and that was a whole lot of money for me.
I took the coin to a local coin show not long after I bought it. There was an expert there authenticating coins and I showed him my dollar. After looking at it for about a minute, he informed me that it was counterfeit and showed me the markers that proved it. I was stunned!
Fortunately for me, the reputable dealer I bought the coin from was at the same show. When I told him what the expert had said, he immediately took the coin back and refunded my money. Whew!!
I learned a valuable lesson from that experience. If you are going to pay a lot for a coin, either buy it from a reputable dealer, or learn enough about genuine coins to be able to spot one that's fake or questionable.
That was when I began to buy all the books I could find on the coins I was interested in. I still have not paid that much for a coin again. Most of my purchases are in the $5-50.00 range. $100.00 is a lot for me.
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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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Replies: 66 / Views: 9,136 |
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Posted 01/17/2018 10:16 am
