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 Replies: 20 / Views: 2,720 |
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Pillar of the Community
United States
4085 Posts |
Poll Question
At what point do you start to think twice before opening your wallet for a coin? Not to say that you don't ever spend more - to get a key date or other coin to finish a set - but where's your sweet spot where you don't think twice about paying X for a coin?
How much is too much to pay for a coin?
(I voted over $50)
Edited by KenKat
01/06/2011 8:04 pm
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Pillar of the Community
United States
2605 Posts |
It totally depends on the coin. For a current circulation type I don't want to pay anything above the face; some coins, on the other hand, are well worth hundreds or thousands ...
Throughout my collecting I've never paid over $250, so that's what I chose.
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Pillar of the Community
 United States
5953 Posts |
Not really a valid question as the scale changes depending on circumstance.
Im down to the biggies for most of my sets so I realize it will cost more and my expected payment rises. Way back when I started the Dollar amount was smaller as I needed more coins.
So Its an uphill sliding scale in my case. The closer I come to completing a set the more expensive it is going to be.
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Bedrock of the Community
United States
14454 Posts |
considering I regularly spend over $1,000.00 on single coins and never think twice about it if its something I need I don't think I would at $5,000.00 either but would definitely have to think about it real hard and crunch some numbers before I spent over $10,000.00 on a single coin
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Pillar of the Community
United States
2448 Posts |
I'm with Bryan on this one. Try and find a "Saint" in reasonable condition for less than $1500.
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Bedrock of the Community
United States
20753 Posts |
I'm on the cheap side. I've been collecting coins for well over 60 years now so high priced coins are something I just don't think about. I voted the $5 range. To really even think about blowing a lot on a coin at my old age is something for younger people. For me and other older people the price of a coin is not really important anymore since as you get really old, other more important things about your collection pops up. For example to have a coin worth $10,000, for example, and you pass away and it ends up in a banks counting machine. You pass away and the entire collection goes into vending machines. Someone takes the entire collection to a coin store and gets double face value and is really happy.
Things like that are in the minds of older people like me so at a coin show, I stumble at even considering buying a coin for over $5.
This dosen't mean I wouldn't spend a lot on a coin, just to much for a coin makes me consider it's future.
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Valued Member
Guatemala
357 Posts |
If you truly like the coin, and have the resources, is there such a thing as too much?
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Moderator
 United States
23522 Posts |
Quote:
If you truly like the coin, and have the resources, is there such a thing as too much? No, not at all. Fortunately for me, I don't have the resources (  ), so at about $100 I come to a screeching halt. |
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Pillar of the Community
United States
2661 Posts |
Well that depends on the coin. For a $2.50 piece I'll pay in the $300-$400 range. A Franklin half, I can still get those for around $5-$7 still (at the pawn shop when they have them), and anywhere from $13- $59 for a half oz Australian Lunar for the wifey. |
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Pillar of the Community
United States
3592 Posts |
I'm with carl on this one when it comes to my collection.I like to get as close to FV as possible. I honestly don't have more than $50 in my early lincoln collection and need only the 14-d and 22-p. When it comes to resale, then everything is fair game if I can make a buck. And that's how I picked up my keys too, buying collections then reselling what I didn't need.My merc dimes are missing only the 16-d...the rest were bought at melt. To me it's the challenge...not just owning.
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Moderator
United States
187702 Posts |
Ken did give reason to exempt the key dates. The point, I think, is to declare what your barrier price for normal purchases. I said "More than $100" which I have done exactly twice, for the 1909-S and 1931-S Lincoln Cents (both may be considered key dates, but I think of them as semi-key). When spending less that $100, I seldom think twice (for example, my recently purchased 1827 CBHD). But when it is more than $100, it adds some time to the transaction. I spent several minutes (well past the point when I decided that it was the coin I wanted) convincing myself to pull out the cash for each of those Lincoln cents!  |
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Pillar of the Community
 United States
4085 Posts |
Yes, jbuck - you stated it perfectly - the "barrier" price for normal purchases - that's exactly what I was asking!
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Pillar of the Community
United States
1304 Posts |
Quote:
Throughout my collecting I've never paid over $250, so that's what I chose. I choose the same thing as that is the most I have spent so far on a single coin. I just try to buy the best that I can afford. |
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Pillar of the Community
United States
4989 Posts |
The most I have paid was $1,000 for an 1889-CC in VF-30 (PCGS) and $625 for a 1921 Peace dollar MS-64 (NGC). If I spot a deal, I'd probably go as high as about $5,000. Edited by fenton
01/08/2011 10:56 am
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Pillar of the Community
United States
8904 Posts |
Quote:
It totally depends on the coin. I seriously can't choose a number for you. If it's the last one to fill out the Dansco... Almost no price is too high!! (Until the wife looks at the checking account!)  |
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Pillar of the Community
Canada
9862 Posts |
If we're talking spur of the moment impulse buy,$10 without hesitation.
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Replies: 20 / Views: 2,720 |
Posted 01/06/2011 9:18 pm
