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 Replies: 66 / Views: 9,015 |
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Valued Member
United States
295 Posts |
Most of my purchases are under about 200 dollars, so above that is where I'd see it starting to get expensive. Around 500 dollars I would consider to be quite expensive, something I would only be able to purchase one or two of a year. What do you consider to be a lot of money to spend on a single coin?
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Pillar of the Community
United States
3323 Posts |
I have purchased three coins that cost me over $200. I sold the two gold Eagles a few years back (for a BIG profit.) I have a few others that I inherited worth more. I tend to loiter in the $50 - $150 range. So, $200 is an expensive coin in my collection. I have the ability to pay more, but haven't brought myself to that point yet. This is only a hobby after all. That's why I may never finish my Lincoln album... "Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Valued Member
United States
55 Posts |
The most I have ever spent on a single coin other than when I was buying gold coins at melt back before gold freaked out, was 90 dollars on an UNC shilling that I think is worth alot more. Might have spent more on a Trade dollar but can't remember. My dream coin is a Wheat cent struck on a dime planchet, making it a silver Wheat cent, but those average 750-1k :D |
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Bedrock of the Community
United States
17884 Posts |
Let's see, how much is in my account......
I remember when $100 was big money for me. Now I hardly blink at $200 and have a couple dozen in the $500 to $1000 range, about 10 over $1000, 3 over $2000 and my current record is just over $6,000 for one coin.
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Bedrock of the Community
United States
94367 Posts |
When I was a kid it was about $5. Now, it's probably $5,000.
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Rest in Peace
United States
17900 Posts |
If you do wish to consider your collection as something you or your heirs will sell and you care about that possibility there is one simple rule to remember.
The higher the average value of coins in a collection the higher the percentage of retail you are likely to receive in a collection sale.
Dealers or auction houses want better coins. If they are forced to buy junk as part of the collection the seller will receive a smaller percentage.
So average value is even more important than highest prices paid.
My average coin is at $388.57 per coin.
Whenever I hit 1000 coins I sell my least expensive coins.
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Bedrock of the Community
Canada
24885 Posts |
Quote:
What do you consider to be expensive for a coin? The one you cannot afford  |
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Pillar of the Community
Canada
9156 Posts |
Any thing over $10 |
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Pillar of the Community
United States
6130 Posts |
I generally won't spend more than $20 on a whim; no more than $50 unless it's a type I need and I feel confident I am getting a good deal. The overwhelmingly vast majority of my coins are worth very little (still holding on to a lot of circulation finds, plus "cool" world coins to spark the interest in my kids), and very few are worth more than $100. I think my single most expensive coin is worth $500+, followed by several in the $150-250 range.
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Rest in Peace
10197 Posts |
Dorado had it right, what you can't afford, real simple.
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Pillar of the Community
United States
2023 Posts |
Really depends on the coin. I'll watch uncommon Peace dollars and gold commemoratives for several days before I throw a few hundred at them, but there's no way I'd spend that much on a Roosevelt dime or a Sacagawea dollar. |
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Bedrock of the Community
United States
20753 Posts |
For me that is a difficult question. I'm rather cheap so I really hate to spend money at all. There are many coins I've seen at coin shows I'd love to have but always in the thousands of dollars and I refuse to pay more than a few hundred for a coin. So many of my coins are from a long time ago when they weren't so expensive. For example I have 10 1916D Mercury dimes that cost me $1.50 each a long, long time ago. I think the most I've ever spent on a coin was that 2016D Gold Mercury dime the Mint issued recently. And I'm rather sorry about spending that much for that coin. So considering all that, I'd say about a few hundred dollars is my limit. |
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Moderator
 United States
187862 Posts |
My record is $165, but I do have several key date holes that will significantly break that if I am ever able to fill them. The cheapest hole just north of $200.
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Rest in Peace
United States
18456 Posts |
I always went for the cheaper coins $3-$30 because I went with quantity instead of quality . But the last 3 years I have spent more , trying to complete sets . My record is $205 for a Morgan dollar .  |
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Bedrock of the Community
United States
11951 Posts |
That is a interesting question.
Off the top of my head.
I have at least 5 coins that I have paid between $1000 to $2000.
Several between $500 to $1000.
Coins between $150 to $500 .. will take a serious inventory. My guess
for those would be between 25 to 50 coins fall into that group.
I am thinking my sweet spot for better coins would be $25 to $100. I think
my collection has 100's of coins in that group.
Thinking about this ... I would say expensive coins for me would start somewhere
around $250 and up.
Looking at these numbers ... I am wondering at what point I will pick up
some of the more expensive coins needed to complete some of my sets.
1893 S Morgan is at the top of my list .... that will be a very hard purchase
for me to make ... in the multiple thousands.
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Bedrock of the Community
Australia
21786 Posts |
When you know you have paid too much for it.
A small or a large amount of money may be involved.
'Too much' is relative, and that depends on how much you think you are happy for pay for a coin that you may want.
That happiness level depends on what you can happily afford to spend on coins.
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Replies: 66 / Views: 9,015 |
Posted 01/12/2018 12:21 pm
