1 Coin / $10k Challenge
ScarsdaleCoin
Posts: 5,386 ✭✭✭✭✭
So had an interesting one today. Client says Jon what should I buy with my 10k bonus. Want a GREAT Coin
So folks what would you buy for 10k that has some real meat on it?
Jon Lerner - Scarsdale Coin - www.CoinHelp.com
1
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This could be a contest - check at end of year to estimate what each might sell for?
Or maybe just pick a great coin.
Here's my choice for a great coin (ignoring resale value) that sold for under $10k in 2017:
$5 1795.
It's Details grade (tooled, AU details), but a straight graded VF-25 could have cost $23k.
https://coins.ha.com/itm/a/1251-6725.s
I used the PCGS Auction Prices Realized table to apply the "under $10k" price filter:
https://pcgs.com/auctionprices/details/1795-small-eagle-ms/8066/88066
If I was spending my own money, I wouldn't want to ignore resale value, though....
The kind of coin that I would want, you can't just run out and buy.
Sure, you can spend that much any time, but that isn't the type coin I would want.
You never know when the kind I want is going to come along. You just have to be ready when it does.
Give me the money let me buy a little at a time nothing to expensive. Maybe raw and send it in for grading. Frugel
Personally I would get a nice original looking 18th century Draped Bust $5 in as high of a grade as I could
i have my eye on a nice 76 -CC $20 gold in MS for around that price, A lot of choices depending or your taste.
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I've always wanted to pick up a SS Central America Coronet $20.
I would probably buy a nice Chain Cent, 1796 quarter, or 1794 half dollar.
Bust gold. Easy peasy.
$10k is likely to be $7,000 after taxes.
I would be looking for an 1894 Morgan in MS64.
You could start right here:
https://www.ebay.com/b/US-Coins/253/bn_1848949?rt=nc&_pgn=47&_sop=16
Insert witicism here. [ xxx ]
How about a nice AU Bust Dollar?
PCGS 1893cc in MS
bob
This one fits the bill and there's enough left over for him to take you to a nice dinner out.
https://www.ebay.com/itm/1893-CC-Morgan-Dollar-PCGS-MS63-CAC/122907831052?hash=item1c9de0ab0c:g:otcAAOSwndZaVobf
I am sorry, but for $10 grand you are not going to get much in a Chain Cent or a 1796 Quarter. You might get a passable 1794 half dollar, but I'd be more inclined to look for an early 1800s gold piece or a nice piece of early 19th century silver.
1794 or 1815 half dollar. 1916(SLQ) or 1901-s quarter (maybe a VG-10). I'd be OK with a low grade Chain or 1804 cent. I'm not a gold or morgan person. A bust dollar would be nice and impressive.
I think for flashy purchase that one would really enjoy looking and showing to people, a nice 17XX Bust Dollar. If $10k is the most this person will ever spend on a coin, maybe a rare type coin in AG grade like a 1796 Quarter if this is his/her only chance to fill that hole. I would avoid any post 1900 key date. But that's just me.
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I found it!
https://www.ebay.com/i/222800802887
1878cc Trade in premium AU
11.5$ Southern Dollars, The little “Big Easy” set
I would look for a really choice XF Draped Bust Half Eagle as my first choice with a really choice mid-AU Capped Bust Half Eagle as my second choice.
It seems as if the individual in the OP is looking for an investment coin, and these can be tricky. While coins that tend to remain solid in a price range can be found, those that may appreciate in value (short or long term) requires more study and a bit of good luck. I would defer on advising on an investment such as this. Sure, if it skyrockets in a year or two, you are a hero.... but if it tanks... Well, that is not good at all for either party. I would tell him to do some research and find something he really likes that is solid for the value. Cheers, RickO
Except that isn't an option.
It's just me, but I don't really like to "dream" about what I would want.
It depresses me.
Pete
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What Crypto said....
old gold if you prefer
Dark side of course, but I've long wanted a very nice 2 guinea or 5 guinea of Charles II of England - problem is most prices for the best have advanced beyond this level.
Otherwise, it would be really difficult for me to plop down this kind of money for a single numismatic coin, even if the money were a windfall gift. Probably could have done it at a younger age, but the last ten years have sadly shaken my faith.
Yup bitcoin could of made some $$$ on this last dip.
Hoard the keys.
While a couple people have mentioned a 1794 half dollar, which are probably a good value now because of the hoard - 10 K would get you a nice Fine. A 1795 in that price range is a nice XF or AU, which is probably what I would do.
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I'd look at a really nice, all-there Barber Half. In that price range you're near the top of the condition census. The prices of these really corrected over the past few years and there might be significant potential for renewed interest if things pick up.
I would use this person's bonus, my own bonus, and a bit of the Trump tax cut to get this 1854-S Gold $1 from Winter: https://raregoldcoins.com/rare-gold-coin-inventory/just-added-100-1854-s-pcgs-ms64-cac
There is a nice '40-O $5 gold piece too at $9,250. Too bad the old Fat Head gold is spoken for. Can't go wrong with early gold if offered. Got to think rarity and future increase in value is there.
Of course if the right '01-S Barber Quarter came by, I probably wouldn't pass it up because I need it for the set. Tough quarter and only a few really good ones out there.
A Barber Quartet is made up of Nickels, Dimes, Quarters, and Halves.
I was flipping an older Legend hard bound auction catalog today. Made me think of this thread. 10k in hand would really open up the catalog. Lots of killers in there that will likely always be desirable pieces.
Would a nice eye appealing mint state 18th cent. gold 8 escudo fit the bill for this person? It's size, history and connection with colonial and early US packs quite a punch. Usually found interesting by both the collector and non-collector.
I'd look for a couple NGC black 1st Gen. holders.
I don't know what prices are like today, but the Chilean 8 escudos from this sale are great. Found on Nuestra Senora de la Luz, IIRC. Sale occurred in 1993. At least I have two copies of the catalog:
Something like this works for me.
Lance.
Look for a 1907 High Relief Double Eagle as another alternative. Might locate a nice AU example for $10,000.00.
I would suggest the exact opposite of this
Latin American Collection
Some patterns would qualify. I would want one that was actually considered for circulation, as opposed to something just made for collectors. And I would want it in the intended composition. And naturally, I would want it to be one of the finest known. Here are two examples.
BTW, the 1882 five cent piece is NGC 68 and perfectly original. I bought it for a client at a Legend auction a few months ago for less than 10K. Definitely a "great coin"!
Doggedly collecting coins of the Central American Republic.
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I can't advise people on coins. They think I'm a huckster already.
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