Home› U.S. Coin Forum

If you had ten $5,000 coins...

MidLifeCrisisMidLifeCrisis Posts: 10,584 ✭✭✭✭✭
in U.S. Coin Forum
Would you trade them for one $50,000 coin?

Assume it's a coin you need for your collection...a major rarity. But all ten of your $5K coins are nice and also needed for your collection...just not nearly as rare.

Substitute any numbers...would you trade ten cool coins for one super cool coin?

Comments

  • SilverEagles92SilverEagles92 Posts: 6,787 ✭
    No, not if I needed those other 10 coins for my collection as well. If I needed to have the $50K coin, I would sell off some extraneous material that I didn't need, or get a line of credit.
    image
    To support LordM's European Trip, click here!
  • TomBTomB Posts: 22,254 ✭✭✭✭✭
    It depends.
    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • GoldenEyeNumismaticsGoldenEyeNumismatics Posts: 13,187 ✭✭✭
    You can't get a mainstream major rarity for $50k

    But I'd keep 10 $5k coins anything.
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    I try my best to define my collecting parameters such that there is no single coin that is worth ten-fold the average coin in the set, especially at that price level. (Exceptions are occasionally made. image ) If it were me, I would buy a coin in lesser grade (if possible) so it was a value match for the rest, if not a condition match.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • BlackborderBlackborder Posts: 2,797 ✭
    I'd fill up my SUV 10 times.
  • dwsswsdwssws Posts: 2,166


    << <i>I try my best to define my collecting parameters such that there is no single coin that is worth ten-fold the average coin in the set, especially at that price level. (Exceptions are occasionally made. image ) If it were me, I would buy a coin in lesser grade (if possible) so it was a value match for the rest, if not a condition match. >>



    image
    steve

    myCCset
  • PerryHallPerryHall Posts: 47,021 ✭✭✭✭✭
    No. I don't believe in putting all your eggs in one basket.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • joeyukjoeyuk Posts: 3,282
    I think you'll see an example of the 10 5K coins again for sale before the much rarer coin.
  • TomBTomB Posts: 22,254 ✭✭✭✭✭
    I earlier wrote "It depends" and it truly does depend on a number of variables. These would include your ability to pay this sum in the future for the single coin in question vs. your ability to pay multiple times for the less expensive coins; the frequency with which you will again encounter the single coin in question vs. the frequency with which you will find the ten coins that would be traded; your patience in building the collection; the relative value you put in completeness of a collection vs. finding tougher coins for the collection; and your estimation of the future price of acquisition of the single more expensive coin vs. the future price of acquisition of the ten coins that would be traded.

    RYK pointed out that he would likely not include a coin in any of his sets if that coin was worth ten times the average of the individual value of the remaining coins in his set. Oddly enough, I can give a real world example of this scenario. I have an NGC registry set under the complete US type set category. The set is here and I chose the NGC system because they have a much better (more realistic) point scheme than the PCGS scheme. Oddly, my set is almost entirely comprised of PCGS coins. Regardless, my 1796 quarter has a value that is nearly exactly ten-times the value of the average of all the other coins in the set. Should I have dropped down in grade for this piece or simply ignored it? In my opinion, the set is quite strong with the 1796 quarter included into it and the presence of that piece does not overwhelm the remainder of the set. Take a look and decide for yourself if the coin is out of place. One thing to keep in mind is that aside from the more expensive coins that are already listed in the set, I also have a 1795 Flowing Hair dollar in PCGS EF45 included that is not yet listed, so there is yet another big-ticket coin there, too, even though it is not currently visible.
    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • UnknownUnknown
    This content has been removed.
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    <<Yes, because I have to assume that the 10 $5k coins are pretty much all obtainable over a relatively short period of time and the 1 $50k coin comes along just about once every 20+ years... >>

    <<I think you'll see an example of the 10 5K coins again for sale before the much rarer coin.>>

    That's an assumption that may or may not be valid. I can think of several Dahlonega examples that regularly turn up in the marketplace in $20,000+ condition but rarely turn up in $5000-7500 condition (or something very similar).

    Oddly enough, I can give a real world example of this scenario. I have an NGC registry set under the complete US type set category...

    I am confident that your set is very high quality. Under the circumstances, I may have done something very similar.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • GritsManGritsMan Posts: 2,599 ✭✭✭
    If I could get a wire-rim, high-def St. Gaudens, yes, I would do it. Only problem is getting those ten $5K coins!
    Winner of the Coveted Devil Award June 8th, 2010
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭
    Good question.
    If you really want to complete the set and this expensive coin is needed, and hard to come by in an acceptable lower grade (that fits your set), then there is a strong argument for going for it. That is only true if the ten 5K coins were not as tough to replace.
    Don't want to trade one headache for another.
    Some coins are just plain "Interesting"
  • saintgurusaintguru Posts: 7,727 ✭✭✭


    << <i>If I could get a wire-rim, high-def St. Gaudens, yes, I would do it. Only problem is getting those ten $5K coins! >>



    that's a bad deal with a POP of over 260 coins! Think of what a pop260 coin should REALLY be worth....50k?? uh-uh

    My answer would be YES....buy one 50K rarity. You most certainly can get a super cool rarity for that amount and it's a prouder possesion, IMO and more likely to appreciate much more than 5 coins at 5K each, unless you're a savant who knows exactloy what great 5K coins are.

    I don't...that may be my lack of knowledge.
    image
  • 500Bay500Bay Posts: 1,110 ✭✭✭
    If $$ return is the object, I would think you would do better with one great coin than with 10 good coins.
    Finem Respice
  • MidLifeCrisisMidLifeCrisis Posts: 10,584 ✭✭✭✭✭
    Thanks to all who have responded. I should have made this into a poll!

    And that's a sweet 1796 quarter TomB. image
  • CB2597CB2597 Posts: 3,042


    << <i>the 1 $50k coin comes along just about once every 20+ years >>



    If this was the case... another question to ask might be..will you still be here in 20yrs and get another shot at this coin? How much will this be worth by then...2x...3x? image
  • 66Tbird66Tbird Posts: 2,858 ✭✭✭
    Being a type collector it takes more than one coin to get me off.
    Need something designed and 3D printed?
  • saintgurusaintguru Posts: 7,727 ✭✭✭


    << <i>Being a type collector it takes more than one coin to get me off. >>



    so you imageto your coins?

    image
    image
  • MidLifeCrisisMidLifeCrisis Posts: 10,584 ✭✭✭✭✭
    Ummm....thanks for the bump SG.

    image
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    I think I have decoded the question image , and I would not do it. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • saintgurusaintguru Posts: 7,727 ✭✭✭


    << <i>Ummm....thanks for the bump SG.

    image >>



    thank 66tbird.

    It couldn't fade away on that note. image
    image
  • oldcameoproofsguyoldcameoproofsguy Posts: 3,174 ✭
    Heck,

    All the $5k coins I've owned haven't been that easy to find either.
  • MidLifeCrisisMidLifeCrisis Posts: 10,584 ✭✭✭✭✭
    Bump for more opinions....

    image
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Nah, keep trading the 5k coins around until you get 10 of the coins you love the most in a box with each other. Then start building another set...heck, you can't stop now, you're half way to your box of 20!
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>I'd fill up my SUV 10 times. >>



    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • OKbustchaserOKbustchaser Posts: 5,554 ✭✭✭✭✭
    No. That's why my half dollar set will never be finished. I wasn't even willing to trade 2 coins for 1 (back when my 1794 and 1801 would have bought a 1796) let alone the 5 coins it would take today.
    Just because I'm old doesn't mean I don't love to look at a pretty bust.
  • FletcherFletcher Posts: 3,294 ✭
    I would absolutely trade up for the single $50k coin ... especially given the current state of the market.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...