What is the most money you would spend on a raw coin?

Monstavet

Just curious....also, what do people feel comfortable selling raw? I find I have different limits depending on the series/type of coin. For example, I might spend a few hundred on raw bullion coins, but with something like Morgans, I prefer them slabbed if I am going to spend >$100. Anyone have any good rules of thumb?

KlectorKid

$100 but even then I would have to really know the series to even consider it.

Lori

I spent $70 on a toned raw Morgan at a show only to find out it was AT. I am sticking with slabs now or less then $40 for a raw coin.

Lori

FatMan

No more than $75

FatMan

And only from a dealer that I know and with a solid return policy. ie: will accept a return if BB'd

DanC

Depends on the coin.

dbldie55

I have spent hundreds. I know my dealer is still pissed his partner quit bidding below $400,000 on a raw coin. Really depends on how skilled you are.

Now buying a sight unseen (no returns) raw coin is a different question.

My dealer sells many raw Morgans, many for hundreds of dollars. (bought most of my set through him)

fcloud

I don't know how much, it depends on the coin and who it is from.

The best raw coin I ever bought was a 1909-S Uncirculated Indian Cent.

Monstavet

DD55, I think that is a good point...I buy many of my coins unseen, and I think that makes a big difference. Obviously skill plays a role, but I think being able to examine a coin first will allow you to feel more comfortable buying it raw.

DennisH

Most I ever paid for a raw coin -- in fact, I don't think I've spent as much on all my other raw coins combined -- was $1200 for a 1567 Scotland Ryal or "Sword dollar". The seller was in Paris (yes that one), but he had all the scans, all the details, and the deal felt "right". The coin turned out to be a million percent natural and original, with the most perfect planchet I've ever seen on one of these crude coins.

PCGS agreed, and graded it Fine-12.

JamminJ

Interesting question!

I don't think in terms of total money spent but rather in terms of potential downside.

The most expensive raw coin I've bought was an AU/slider St. Gaudens $20 gold piece. Even though it was $400 I felt the downside was minimal as even if the grade was a bit off, it was cleaned, or whatever there's still almost an ounce of gold. On the other hand an AU Bust Quarter (whose value lies in the same ballpark as the St. Gaudens) has it's value seriously eroded by being cleaned or worked on, so I am unwilling to take that risk and would stick with certified.

Another consideration is the coin sight seen or unseen (like e-bay). I'll be a little more willing to take the risk if I control my own fate, and even more if I can respectable TPG's verbal opinion.

In the end I'm willing to take $100 maximum downside risk for a sight seen transaction, and maybe $20 on a sight unseen.

-JamminJ

relayer

The most I paid for a $200 raw coin was $550

Draco

$390 for a $200 coin

LucyBop

I just laid down $750 for several raw coins...

tristarz

Spent $100, came back from PCGS in a little bag.

jcping

Whatever the gold spot price is for an American Gold Eagle. That's over $338 today.

ARCO

I collect Barber halves and am confident grading and finding original problem free coins. The series is rarely counterfeited as there are no spectacular key dates like other series. I rarely buy raw coins above XF45 as potential buyers are not as comfortable buying raw due to a higher incidence of cleaning and overgrading issues.

I have a collection worth 15K that are all raw coins. Over 20 coins are worth $250 or more and they sell like hotcakes whenever they are available for sale...always!

Tyler

Topdollarpaid

I paid 350.00 for a counterfeit gold coin.
Melts around 50.00

Keep'em coming I will make it up.

Please don't tell my wife...........

The good news is I got a guarantee

LincolnCentMan

As a general rule, I dont buy anything over $100 unless it's in some form of respectable plastic. I do part from this ever so often, however. I think the most I've ever spent for a single raw coin was about $300. It was a corroded SVDB. That was a long time ago, however. Now a-days, I would be interested in buy a raw SVDB... especially one with corrosion.

David

Baley

I would (and have) spent around $500 or 600 for a raw coin. Same answer for selling.

Agree with other posters who have mentioned possible downside, prefer to manage the risk/reward.

This includes not overpaying for a slabbed coin that loses ANY value if broken out of it's holder.

Lakesammman

Around $2500 - so far, only one body bagged....will keep trying on that one as it looks original to me.

oreville

I paid $5000 for raw coins but heck that was for an entire roll of 1936-S BU quarters. They range from MS-64 to MS-66 with just 2 or 3 pieces possibly MS-63. Does that qualify as a big raw purchase?

Coppernicus

Assuming: 1) I am holding it in my hand; 2) I know the series; 3) I am working with one of my reputable dealers; and 4) I have the money....no limit!!

dorkkarl

$7000. have never tried to spend more on any coin, but i can't really imagine a limit to what i'd spend on any coin given enough $$$. raw or slabed makes not the slightest difference to me.

K S

BillJones

I once spent over $4,000 for a Gobrect Dollar, but that was before slabbing was widely accepted. I've spent over $2,000 for a raw coin many many times, but not recently. The most I've spent in recent years was over $3,000 for a very rare Civil War token.

tradedollarnut

In the past few years I've purchased the Amon Carter 1874-CC and Vermeule 1873-CC trade dollars raw at auction - the first for $56k and the second for $75k.

dorkkarl

all of the queller coins were raw, many went for exceptional prices.

K S

MacCoin

on the internet 30.00 is high for me but at a show or shop I'll spend anything I need. I have no probelms with raw coins if I can see and touch what I'm buying.

Conder101

I'm with Coppernicus on this. On early copper I'd do thousands if I had it, but there is no way I'd buy a 16-D dime that didn't have papers even for a couple hundred.

Fairlaneman

I think the amount for the most spent was $1700 for a AU 16D Merc in the early eighties. It got Bagged at ANACS. That was when they just had the certificates. Was bought from a honest dealer so a refund was received. Did get hammered on a few coins in the eighties but forgot them quickly when the buying error was noticed.

Now days if the dealers price matches the grade I put on the coin I have no problem purchasing the coin. On Ebay I usually down grade the coin by a couple of points just to be safe. Have bought two coins raw from Ebay sellers in the last couple of weeks and have been pleased with both.

Ken

Blade

$50

ursabear

Monstavet, I know I'm not in the league of many here (I'm just tagging along for the ride ). I typically wouldn't spend more than $40 for a raw coin - unless it was a reliable coin like a 2001 D American Buffalo commemorative or a piece of US Mint recent gold/platinum.

I do grade with my own eyes, but I don't trust early coin authenticity or coin condition from most people that I don't know.

DirtroadRider

$120.00 on a 1988 $5 1/10 oz. Gold Eagle.

cosmicdebris

$1200.00 1995 W SAE.

dorkkarl

somebody mentioned sight-unseen. in that case, the most money i'd spend on coins sight-unseen is - FACE VALUE. i dont' care if it's slabed, i don't care if it's raw, i don't care if the seller is the Pope. the fundamental rule of coin-collecting never changes:

do not buy coins sight-unseen

K S

DoubleDime

$900 for a 1901-S Quarter (G+) in May '83.

barberlover

I paid 450 for a raw 1867 2 cent piece last fall because it was my opionion that it would at least grade 65 r & b and i've seen non nicer for that grade, since i was asking this dealer if i could cherry pick a full 2 cent piece collection, i didn't mind paying 12 % above grey sheet bid for a raw coin. When i got the coin back from p.c.g.s/, it was a delight to find i haven't lost my touch for grading raw coins. Les

Merc

I spent $225 on a raw VF30 complete horn 3-legged buffalo nickel. I bought it from an older dealer I know who doens't use slabed coins. He said, why should I pay someone will less experience than me to grade my coin? He showed me his 3-leged buffalo which I would grade MS66. He didn't have a grade on it and it wasn't for sale. I knew how to tell a real 3-legged buffalo from a fake so I didn't worry about buying it raw. Plus, this dealer really knew his buffalo nickels.

Tonekiller

$3500. Slabbed just fine by NGC.

TBT

rays

I bought the Norweb specimen of a lettered edge Wreath cent for $11,000 from the Frankenfield sale by Superior a few years ago. It is now in a PCGS holder.

TONEDDOLLARS

Bought three raw monster toned Morgans from a old timer who had put them away years (20-25) ago. All the kraft envolopes were marked 65 DMPL by him. He was bummed when he discovered that the coins all toned. I paid him a nice premium for them. They were the following dates 1882-s, 1898-o 1900-o. All of them are in PCGS-65 slabs, two marked PL. They are worth many times what I paid for them. Oh bye the way this was only two years ago. I think ask was about $280 at the time. I paid around $500 They are worth today what ever someone is willing to pay, if they were for sale

BigD5

I'm not sure exactly what the most would be, but recently I have purchased individual coins for $400, $550ish, and $200. I recently purchased a fairly large group of half dimes, all raw, for $2,000ish. If you can see the coins, it usually isn't a big deal, although I wouldn't purchase much gold raw (I don't know enough about it to feel comfortable even spending $50 there) or other issues that were frequently counterfeited.
Things also depend on your disrectionary income. $500 means different things to different people, and risks can be taken according to how much you can afford to lose if things don't turn out the way you planned.

smprfi

$94

MAULUMALL

$135.00 For 4 unopened proof sets.1956,1959,1960 & 1962.I got some awesome Franklins and Washingtons.
I made the mistake of showing them to the shop owner.
He don't gpt no mo.