Many times you can't simply put a dollar amount as cheap or expensive, you need to have a item associate with it to say cheap or expensive. For example for this coin that Zoins posted in another thread. If I can get it for 10K I would consider it very cheap.
Use to be that $500 was a huge price, now it's in the 5K range.
My first big purchase was an 1877 IHC (AU) that I purchased in about 1983 for $600 and that was traumatic at that time.
Now that I am older, I consider $100. to be expensive.
Most of what I buy now is closely tied to bullion value. Mostly hand picked junk silver and common date silver dollars. Although on rare occasions, I will purchase a little gold.
I have only spent over $1,000. for a coin twice in my life. $1,050. for a 1798 Draped Bust Dollar and a little under $1,800. for an 1874-S Double Eagle.
Others have mentioned this comment in response to the OP. Merriam-Webster defines 'expensive' as "high cost or sacrifice."
In my opinion, the heart of the question relates to value. In the study of price versus value, some say that price is arbitrary and value is fundamental. A great quote attributed to Warren Buffet reflects the concept: “Price is what you pay; value is what you get.” If you see a coin that you really like (value), and the price you pay for it is at average or below for that coin, then it is less expensive. The economic value of the coin is a trade-off collectors choose given their scarce resources.
It's hard to put a dollar amount as a threshold for expensive because the answer depends on how great the coin is, the value of a dollar, and what your budget is like.
@dunkleosteus430 said:
As a YN I don't have a "real" job, but I can make over $500 if I have a good week just by aerating lawns. I don't really have any expenses that cut down my profit, besides gas for the machine, so the rest of my money I can save up for coins. I've never actually bought a coin for over $200, but anything up to $1,000 wouldn't be out of budget, and $1,000 to $2,500 would require a bit of saving, but I don't think I'll buy anything over that, and if I do it would take a while to save up for. As for coins from $2,500 to $8,500, I would really have to like a coin to save that much money, though I don't think that will ever happen, besides maybe some certain MPLs. I'm thinking of making a Lincoln Cent set, so most of the coins won't cost more than $300. As for college, I think I'll sell some of my collection, hopefully for a profit, to pay for some of that when it comes around.
Be open to buying choice world coins.....you can buy certain countries, or denominations.
Good value in a growing market and not as picked over as US coins
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
Comments
Many times you can't simply put a dollar amount as cheap or expensive, you need to have a item associate with it to say cheap or expensive. For example for this coin that Zoins posted in another thread. If I can get it for 10K I would consider it very cheap.
Use to be that $500 was a huge price, now it's in the 5K range.
My first big purchase was an 1877 IHC (AU) that I purchased in about 1983 for $600 and that was traumatic at that time.
🤔 Expensive if I had to skip my case of “top shelf” wine for a couple weeks.
Seriously …… it’s expensive if I am slightly less than happy with the purchase ☺️
Now that I am older, I consider $100. to be expensive.
Most of what I buy now is closely tied to bullion value. Mostly hand picked junk silver and common date silver dollars. Although on rare occasions, I will purchase a little gold.
I have only spent over $1,000. for a coin twice in my life. $1,050. for a 1798 Draped Bust Dollar and a little under $1,800. for an 1874-S Double Eagle.
Others have mentioned this comment in response to the OP. Merriam-Webster defines 'expensive' as "high cost or sacrifice."
In my opinion, the heart of the question relates to value. In the study of price versus value, some say that price is arbitrary and value is fundamental. A great quote attributed to Warren Buffet reflects the concept: “Price is what you pay; value is what you get.” If you see a coin that you really like (value), and the price you pay for it is at average or below for that coin, then it is less expensive. The economic value of the coin is a trade-off collectors choose given their scarce resources.
It's hard to put a dollar amount as a threshold for expensive because the answer depends on how great the coin is, the value of a dollar, and what your budget is like.
I have to say $1000 to $1500. $2000 is really pushing it. I do love dealers/sellers who offer layaway terms. It makes it so much easier.
Be open to buying choice world coins.....you can buy certain countries, or denominations.
Good value in a growing market and not as picked over as US coins
I give away money. I collect money.
I don’t love money . I do love the Lord God.