Options
Five figure coins
Gazes
Posts: 2,315 ✭✭✭✭✭
What percentage of serious collectors (ie goes to shows, reads the message boards, etc) do you think own at least one coin that is valued at $10,000 or more?
0
Comments
2% but higher on this forum.
You know the sad thing, I have not seen more than a dozen coins today that I would spend my own money on if cost was no problem. Even more sad, not one of them that would blow me away like many coins that the CU forum members post.
However, the day was not a total loss. A member on vacation visited us this morning with some slabbed counterfeits that knocked my socks off! He had one that got past me.
At least I think so because it was in our holder but I forgot to get its number so I could check. Another, from the same counterfeit die did not. 
What percentage of the population has $10,000 to spend on a luxury item?
3%
Your first paragraph is spot on...
CC
wrong, many more people then you realize own five figure coins. I know, I sell check of a lot of them
Baccaruda's quote below still applies today when I talk with friends and associates.
Five figure coins are preferred by many, including myself over five figure widgets!
I think you would need a clearer number of collectors to know the percentage and which are actual collectors vs. Investors.
Depends on how serious collectors are qualified. But if you are using regional and national show attendance, online coin forum users, club memberships, auction participants, TPG submitters, and doing so for 10+ years... then I would say 3-5%.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
2% collectors in general
60% regular posters here.
I prefer 3 figure coins with several 4 figure coins sprinkled in my collection. That is what my budget allows and I’m ok with that.
I prefer seven figure coins, to admire
``https://ebay.us/m/KxolR5
What are some five figure widgets?
Some of the modern registry coins in MS 69.
I would guess coin collectors in general have more disposable income than the average population. If you are a dealer that offers mostly high end coins, as LS is, then you will see many more people who buy five figure coins. Laura, I'd probably say your "average coin sale" is well over 10K. Easy to figure your total sales divided by the total number of coins you've sold in a year. A 2 Million dollar coin sale will skew things a little....
I've yet to break 4 figures! (Though, a couple of 3 figure coins have appreciated into 4 figure territory).
And I think there are many, many, more people who would NEVER EVEN CONSIDER spending 5 figures on a coin than there are people who have actually spent 5 figures.
Guess the key is to define "serious collector". Many consider themselves "serious", spending in the low 3 figure (and less) area, while others would look at them, turn up their noses, and claim, "They aren't really serious at all...."
I’ve owned a couple. None now. The average coin collector in my local club doesn’t own a single slabbed coin.
5-figure widget? How ‘bout a high-relief Saint. Not hard to find several at any big show.
you know how little 6 year old kids play soccer and the team they are on loses 50-3 ? They all get a trophy at the end , thats how rich people collect stuff.
the servants study the price guides , point to a coin , the coin gets bought by the butler and then everyone scatters rose petals on the floor and tells the guy with the checkbook how smart they are.
5 figure participation trophy .
edited to add , then someone starts a thread about it on the us coin forum
5 figure dreck, been there done that. Personally I'd rather have 10 lower figure coins
The last four figure coin I bought was a five figure coin ten years ago; while the last five figure coin I sold was a four figure coin when I bought it over ten years ago.
Edit for clarity.
Bought an MS 62, 1911-D $2.5 quarter eagle for $8400 last year. Ten years ago it was $17k.
Sold a Cheerios Sacajawea for $12K. last year. Bought in 2005 for $4k. Darn modern widgets, anyway.
``https://ebay.us/m/KxolR5
Headache alert! It's possible to be a SERIOUS collector and spend under $10 a coin. Or less. Been there done that. The amount of money a person has to spend on coins has no correlation whatsoever as to how SERIOUS of a collector they are.
Agree, Hydrant.
Maybe it would be better to ask for an estimate of the NUMBER of collectors who own one or more 5-figure coins....and leave the rest of us out of it.
Are we talking 1000 collectors? 5000? 10,000??
Used to own three but I sold 'em.
Interesting topic, thanks for sharing !!!
Once you get over $300 the pop of spenders greatly narrows.
5 figures buys a lot of different things finance other projects / hobbies that many would give up coins to have or experienced. Life is short.
Thanks to all for their responses to my OP. My main question was to get an idea of how many collectors own a five figure coin (thanks to those who tried to respond to that). I think that is an important issue when trying to determine price, determine strategy at auctions, determining liquidity, etc---all that can be helpful to a collector.
A couple posts seem to equate my OP that a serious collector needs to spend a lot of money. I never said that and even went out of my way to use a parenthetical to use non monetary guidelines to narrow the serious collector. For instance mentioning being on a coin forum and attending a show---neither relates to how much money one spends.
My own point of view is there are more collectors that purchase five figure coins than probably most think. I had a dealer told me that the number of serious buyers begins to really dip around $40,000. Even watching coins on various sites, I see that low five figure coins seem to move quickly especially if they are in a "hot" series. I asked the question on here to see what others thought. Thanks everyone.
^. Ask a serious question, and you'll get a serious answer.... except here. You might get a silly one. I'm serious.
``https://ebay.us/m/KxolR5
Interesting question. For a data driven approach, I took a quick look at heritage. If we use pcgs as the search term, and confine the search to the coins category, they have sold ~1.5M coins, of which only ~35K were over $10000. That equals about 2%, which seemed to be the rough consensus here. Obviously not a perfect answer to the question, but it does seem to match up nicely.
Aercus Numismatics - Certified coins for sale
I don't think you need to be buying 5 digit valued coins to be consider a serious collector. I've been collecting (seriously) for ~50 years and only started "spending" 5 digits for "some" coins in the past few years. I'm a coin collector and not a coin investor (although I certainly hope they maintain or increase in value over time)
So if someone was buying a lot of bullion (e.g. modern gold eagles), they may have more money in the gold than many folks on this board have in their coins but the bullion collector probably never spent more than 1200 to 1300 for each coin. And yes, some people collect modern gold eagles (and other countries gold bullion) "by dates". Ask me how I know!
Anyway, IMO, a problem for a "collector" having a lot of gold or high value coins is "for me" I feel I need to put those in a SDB. I can keep the cheaper stuff in my safe for easy access. For the higher dollar stuff, all's I have for immediate access is pictures of the coins since they are sitting in a bank SDB.
I'm out...
It would make a nice poll question though
My Saint Set
I’m not sure about that. Me personally, I’d rather have one monster 10k coin than 10 1k coins.
Count me in the 98 percentile
BHNC #203
From the definition provided in the original question (collectors who go to shows) maybe one could estimate the “serious” population as the sum of attendance at all the major shows, and divide by two to account for repeat visitors. I’d guess if you add FUN, ANA, and Baltimore you would get maybe 40,000 or so? Dividing by two leaves about 20,000 serious collectors by the original definition. I wouldn’t be surprised if 1,000 to 2,000 of those owned at least one five figure coin.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
I seem to find the most ridiculous prices asked for FOUR figure coins.
Jillions of them it seems.
I see them constantly and just will not spend what they are asking.
Not enough rarity and "condition census" seems to have taken residence amongst the 63s and 62s.
Far less idiocy in the five figure offerings. At least from what I see.
I think most Bust/early federal collectors are. Ditto for branch mint southern gold.
Coins are my hobby.... I buy coins that I really like (at least for the last fifteen to twenty years)...Some have been expensive...some have not. I really do not follow price trends, so do not know if I things have appreciated or dropped...don't care, because I am not selling. Just having fun.... Cheers, RickO
None of the coins in my collection would bring 5 figures. If a couple were graded and received PF67 CAM or DCAM designations they may exceed $10,000.00.
well, I could buy them, but I'd have to, well, get rid of my wife first!
BHNC #203
That is EXACTLY what I was thinking the whole time I was reading Pleasure And Profit. The book written by a collector who built and then sold a high end type set.
The whole book is just him bragging about he acquires the best coins and has such a great eye for quality that almost all of his coins appreciated it value before he sold.
News flash guy. It’s easy to buy premium high end coins when you have millions to throw around! You aren’t special.
I’d like to see him try to put together a quality set with a limited budget. He probably couldn’t do it.
That's me in a nutshell. If the means were there, I'd have them, but that's out of my reach. I'm 100% cool with it, too.
My YouTube Channel
My YouTube Channel
whats the hold up
Yeah, women come and go and, sometimes, they take half of your stuff and then go, anyway.
Coins are good and will always be there. LOL
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I got nuttin'
MCMVII $20
I'd guess maybe 2% of Forum members.
I personally own only one; doubt I'll ever own another. I like to eat, and have housing.
Dave
In reading the responses, it’s easy to see why smoe peeps will never be successful...
People we sell abut 4-10 five figure coins per week. I also know of 3 other dealers who do the same. It is NOT uncommmon at all. Due to the short week, we sold 3 five figure coins this week.
Even six figure coins trade activity -not just with us. Our last six figure sale was $150,000.00 last week.
There is a big world out there with a lot of money in it. It is not just my world. Look at Heritage Platinum Night. Thats $15 million+ of five figure coins easy. They should all sell.
Does not any one dare to dream big? You can buy five figure coins these days with financing....