I have bought maybe a few dozen coins in the $1000 to $1500 range....don't believe I have ever spent more then that on one coin....but I once spent $2400 on an ASM #1 in CGC 4.0
<< <i>I doubt I'd spend that much for any coin right now - maybe $3M for exactly the right coin. >>
I hear you! Times are tough... >>
I can't stop laughing..... >>
Actually, nope. They're great - the best they've ever been. I just don't believe that putting a huge chunk into coins right now is the best use of my money.
The most on a coin, $5500. I perfer the 750 to 1250 dollar range, but lately i have just been buying coins around melt. I do not have the balls to play with the big boys but i have no issue in buying 500k or more in real estate. It is just a matter of what you are comforable in doing. 20 years ago i probably had 10k in the bank and bought 14 duplexs from the RTC with no idea how i could come up with the money to close on them. I maxed credit card after credit card, borrowed all i could from anyone and basicily ate beenie weenies for 30 months trying to pay the cards back.
I actually thought 6 or 7 years ago anyone paying more than 100 bucks for a coin was nuts.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
<< <i>The most on a coin, $5500. I perfer the 750 to 1250 dollar range, but lately i have just been buying coins around melt. I do not have the balls to play with the big boys but i have no issue in buying 500k or more in real estate. It is just a matter of what you are comforable in doing. 20 years ago i probably had 10k in the bank and bought 14 duplexs from the RTC with no idea how i could come up with the money to close on them. I maxed credit card after credit card, borrowed all i could from anyone and basicily ate beenie weenies for 30 months trying to pay the cards back.
I actually thought 6 or 7 years ago anyone paying more than 100 bucks for a coin was nuts. >>
About $3k was my highest. I would start saying no way to anything above $10k unless I knew I could turn an instant profit. I do wish I was in the $100k league. Maybe one day. Just need to sell a lot of car paintings.
The most I've spent is about $1200 on a PCGS XF40 1844 dime. A '16-D Merc in a rattler slab is probably the only coin I would really stretch for and the limit would be whatever I could dig up.
The most I ever spent on a coin (roughly 20 years ago) was .0044 of my total assets. I've held it since then and today it's worth roughly .0065 of my total assets. (For those of you that have a little problem with math, .01 is 1%). I have drastically scaled back my collecting coins in the last year... to roughly 1/3 of what I regularly spent in the previous several years. This has not had too much to do with the economy, but much more so that I've become more and more addicted to collecting early space memorabilia (SM), have spent a lot more on SM this year, and can't afford to buy as much in the way of coins nowadays... e.g. there is only so much income I can afford to spend. Currently the most I spent on one piece of SM was .0068 of my total assets for a flown page from the log of Apollo 11.
As to coins, these days most of the sets I'm interested in I've completed, bar the occasional upgrade. There are a couple date sets I'm still working on, and for a nice example of a given coin for the date sets I might spend .0025 of my total assets (specifically here we are talking about a proof 1858 SL dollar). OTOH, for space memorabilia, I might spend around .02, e.g. 2%, of my total assets if just the right piece came along.
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I think the most I have spent is $1200, I wouldn't have a problem spending $5-10k for the right coin but I'm not sure what it would be. I hoping I'll know it when I see it.
I don't think it'll be topped, at least not for a LONG time. We have had our eye on a $75k 1873-cc seated dollar, but about half of that would be in trade for our current coin... I don't see many over $10-20k for a while. Unless I can talk our way into a nice small eagle early gold piece for the type set...
Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!
Mine was about $1600 for my 1877 IHC, one which was originally purchased as an NGC XF-40, cracked out and enjoyed raw in an album for a couple years, and then went back to PCGS last month to ease my "hit by a bus" fear about my wife trying to sell raw coins. It again graded XF-40.
Still remember the date I bought it: July 4, 2004. I think the holiday allowed me to get a bit of a discount on the coin. I was surprised at getting the coin at that price, as I sniped something closer to $1800 if I recall correctly.
What would I spend? Hard to say, as there's no real hard upper limit (within reason, reason meaning no more than four figures in my case). So I guess for the right coin at the right price, you could probably put my limit in the mid to upper four figures, as I can't see my self ever stretching to $10K for a coin at the present time or in the foreseeable future. I don't really even see myself going much over $1000 these days unless there was a really compelling coin and/or value proposition.
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins.
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
Still think coins like the Childs 1804 or J-1776 could approach $10M? Or has the pinnacle of rarities cooled off a little in your opinion?
Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
At one time I owned two expensive violins (Amati, Vuillaume) as I felt they were quite below value. Now to purchase one must compete with Russian oligarchs and hedge fund billionaires.
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
Still think coins like the Childs 1804 or J-1776 could approach $10M? Or has the pinnacle of rarities cooled off a little in your opinion? >>
J-1776 certainly would - not so sure about the Childs 1804. I'd probably pay $3M for either the Dexter 1804 or the Carter 1794 in a private sale [those were the two I had in mind when I answered previously], but wouldn't even bid if they were at auction.
I imagine I'll be the "winner" of this lol. The most I've ever paid for a Non bullion coin is $130. CBH purchased from a member here after much negotiating. I'm not much of a coin collector. I'm happy pulling nice looking coins from my pocket change, the occasional wheaty, buff or silver coins from roll searching. Just recently I started a 7070. When that is finished I think the only coins I will purchase will be the ones not included in that album & the new designs that are realeased if I can't get a nice one from circ. I'm happy with one of each design, common date in Fine-XF cond. I just don't understand nor do I care to know the difference between a 69 & 70. I've only purchased one coin that was slabbed and it was a PCGS Genuine slabbed half cent from another member which is probably my second highest coin purchase @ $70 something dollars. It was cracked for the 7070.
I bought 2 UHRs to flip, so I don't count those. They were in my physical possession for mere days.
The most I've ever paid for a coin in my collection was $650, and I sold it a few years later, opting for an example that I liked more, and paid some $250 for (as a bonus, it was an easy upgrade and is solid at the new grade, and is probably worth around $5-600). After that, I think it's $600 and then down to around $400 on the next most expensive. My most expensive day was about $1300 at a show spread over a few pieces, but I did some good selling that day, too, and made quite a bit.
Now with that, there are a few caveats. First, I'm very, very selective when I buy. It's true that I have a lot more spending money than when I started, and I could pony up if need be, but the vast majority of my buys are somewhat cherrypicks, with me getting coins worth well more than what I paid, simply by waiting for a good deal. The average value of a coin in my collection is probably well above my average cost percentage-wise.
Second, while in recent years I've had a lot more disposable income, I put a lot of it into flying since I started taking lessons in June of 2007. I spent about $8200 on my Private Pilot License in 2007, then about $6000 on my Instrument Rating (so I can fly in bad weather) last summer, plus plenty more just boring holes in the sky since I got my license. Flying has been a dream for a lot longer (and much more important to me) than owning any particular coin, and besides, coins are expensive right now. I can get a lot more flying enjoyment for my dollar right now, and pick up some of the pieces I really want in time when some prices come down (or I have more disposable income).
The most I was ever willing to spend was about $1100 on a 1795 FH half, but I was outbid on it. If I ever wished I had gotten something that I didn't, that's the coin, since it's now too much of a push for me to consider buying it. But when all is said and done, I'm happy with my collection, and I'm happy with the non-coin activities I do. I'm not lacking anything for not having spent more in coins, so I can't complain. And when I do have $100k to spend on a coin, it's going to have wings, a propeller, and at least 4 seats
the Dexter 1804 or the Carter 1794 in a private sale [those were the two I had in mind when I answered previously], but wouldn't even bid if they were at auction.
Please explain!
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
This is a very interesting thread and really made me reflect on my own buying habits. I think I have lost a little bit of my sense of reality in the years since I started collecting. Although I can never imagine pulling the trigger on a six digit coin today, I can see how that could actually happen someday. It seems I don’t even get excited about a coin unless it costs at least $4,000. I buy common MS 66 Morgan’s like candy and then feel recant about spending less than $750 on a coin. The thrill was gone on smaller game. But then last week I received a plain edge Washington Dollar in a collection I bought. It is one of those coins that I have always secretly wanted but would never “stoop” to buy retail (or tell anyone I wanted). But I really got a thrill out of just holding it and looking at it, however I didn’t allow myself to take the coin seriously for very long. After all, “it’s just a widget” I thought, how could I let myself get so excited about a modern widget? It is only an $80 coin. So this thread made me start thinking about when in my collecting evolution did “it” became about how much things cost? It actually reminds me of how addiction works. Over time you need more and more of a drug to get your thrills. How dumb is that? I think I am going to go home and look at my new Washington Dollar tonight and just allow myself to enjoy it and not think about what it costs.
<< <i>the Dexter 1804 or the Carter 1794 in a private sale [those were the two I had in mind when I answered previously], but wouldn't even bid if they were at auction.
Please explain! >>
I think that each is worth about that and wouldn't bid because they'd probably be protected beyond that looking for a sucker.
About $6600 for an uncirculated 1812 half eagle, second was a 1799 dollar in choice VF for around 1600, and third is a proof morgan for about 1000.
If I were offered a 1700's small eagle half eagle that spoke to me, I'd probably try to raise the money to stretch to mid 5 figures by trading or selling some of the stuff not central to my collection, adding what cash is necessary. Also hoping to be shopping for small eagle silver some day, need the dime, quarter (ouch), and half dollar (ouch!) and dollar. those coins will be mid grade and I'm pretty reasonable about some problems if they occurred during the coin's time in circulation, so a decent specimen may not be entirely out of reach in the next few years even if we don't happen to enjoy any windfall profits in HALO It's been interesting reading folks' stories about their best coins
On one single coin it was in the second quarter of the six figure scale. It was a coin that a customer needed. For something that wasn't on a want list it was in the lower six figures.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
I bought a 1947 gold Mexican 50 Peso for $365 about 6 years ago. Flipped it for a quick $50 profit. Shoulda kept it. It would be worth a bit more now! (1.2 ounces of gold!)
As for the "one coin", I don't have one, and if I did, right now all I could do is look and wish.
Thanks to the OP for asking this question. This has been one of the more enjoyable threads I've read in a while. It helps me to visualize big things when I can relate back to specific instances of "living large".
Times are kind of tough right now, but as I tell my wife every day, "We've always been taken care of, and I'm sure we will continue to be taken care of". Gotta have faith!
Comments
<< <i>
<< <i>I doubt I'd spend that much for any coin right now - maybe $3M for exactly the right coin. >>
I hear you! Times are tough...
I can't stop laughing.....
<< <i>
<< <i>
<< <i>I doubt I'd spend that much for any coin right now - maybe $3M for exactly the right coin. >>
I hear you! Times are tough...
I can't stop laughing..... >>
Lol! Someone sound make this their signature! hahaha
So far it's been less than $200 for me.
...Saving up for a 09-s vdb in '55/'58
<< <i>
<< <i>
<< <i>I doubt I'd spend that much for any coin right now - maybe $3M for exactly the right coin. >>
I hear you! Times are tough...
I can't stop laughing..... >>
Actually, nope. They're great - the best they've ever been. I just don't believe that putting a huge chunk into coins right now is the best use of my money.
U.S. Nickels Complete Set with Major Varieties, Circulation Strikes
U.S. Dimes Complete Set with Major Varieties, Circulation Strikes
I actually thought 6 or 7 years ago anyone paying more than 100 bucks for a coin was nuts.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>The most on a coin, $5500. I perfer the 750 to 1250 dollar range, but lately i have just been buying coins around melt. I do not have the balls to play with the big boys but i have no issue in buying 500k or more in real estate. It is just a matter of what you are comforable in doing. 20 years ago i probably had 10k in the bank and bought 14 duplexs from the RTC with no idea how i could come up with the money to close on them. I maxed credit card after credit card, borrowed all i could from anyone and basicily ate beenie weenies for 30 months trying to pay the cards back.
I actually thought 6 or 7 years ago anyone paying more than 100 bucks for a coin was nuts. >>
Hope they weren't in Detroit.
I would start saying no way to anything above $10k unless I knew I could turn an instant profit.
I do wish I was in the $100k league. Maybe one day. Just need to sell a lot of car paintings.
my car art & My Ebay stuff
Millertime
Complete Dime Set
As to coins, these days most of the sets I'm interested in I've completed, bar the occasional upgrade. There are a couple date sets I'm still working on, and for a nice example of a given coin for the date sets I might spend .0025 of my total assets (specifically here we are talking about a proof 1858 SL dollar). OTOH, for space memorabilia, I might spend around .02, e.g. 2%, of my total assets if just the right piece came along.
U.S. Type Set
What did you buy? Got a picture?
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
What, $1,200?
Sold it for $1,800 if I remember correctly.
To support LordM's European Trip, click here!
World Collection
British Collection
German States Collection
I don't think it'll be topped, at least not for a LONG time. We have had our eye on a $75k 1873-cc seated dollar, but about half of that would be in trade for our current coin... I don't see many over $10-20k for a while. Unless I can talk our way into a nice small eagle early gold piece for the type set...
If a certain 1804 dollar came along would you be willing to go above $3M?
Still remember the date I bought it: July 4, 2004. I think the holiday allowed me to get a bit of a discount on the coin. I was surprised at getting the coin at that price, as I sniped something closer to $1800 if I recall correctly.
What would I spend? Hard to say, as there's no real hard upper limit (within reason, reason meaning no more than four figures in my case). So I guess for the right coin at the right price, you could probably put my limit in the mid to upper four figures, as I can't see my self ever stretching to $10K for a coin at the present time or in the foreseeable future. I don't really even see myself going much over $1000 these days unless there was a really compelling coin and/or value proposition.
<< <i>Bruce,
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one.
<< <i>
<< <i>Bruce,
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins.
<< <i>
<< <i>
<< <i>Bruce,
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
Still think coins like the Childs 1804 or J-1776 could approach $10M? Or has the pinnacle of rarities cooled off a little in your opinion?
<< <i>
<< <i>
<< <i>Bruce,
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
At one time I owned two expensive violins (Amati, Vuillaume) as I felt they were quite below value. Now to purchase one must compete with Russian oligarchs and hedge fund billionaires.
<< <i>
<< <i>
<< <i>
<< <i>Bruce,
If a certain 1804 dollar came along would you be willing to go above $3M? >>
You would see spirited bidding on that one. >>
Exactly, so the answer is probably no. When I was buying million dollar classic rarities, coins seemed like a good place to park my money because they were relatively undervalued. Now, not so much so I'm much less willing to stretch and compete to acquire the big coins. >>
Still think coins like the Childs 1804 or J-1776 could approach $10M? Or has the pinnacle of rarities cooled off a little in your opinion? >>
J-1776 certainly would - not so sure about the Childs 1804. I'd probably pay $3M for either the Dexter 1804 or the Carter 1794 in a private sale [those were the two I had in mind when I answered previously], but wouldn't even bid if they were at auction.
$2,600. For the right deal, I'd go to $5K.
Planchet
Since my collection is primarily Morgan Dollars, I'll have to spend a pretty penny on the keys (93-S, 94, 89-CC, etc).
I'm in no rush & when the time is right, I'll finish the collection. Currently need 10 more coins for the set.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
The most I've ever paid for a coin in my collection was $650, and I sold it a few years later, opting for an example that I liked more, and paid some $250 for (as a bonus, it was an easy upgrade and is solid at the new grade, and is probably worth around $5-600). After that, I think it's $600 and then down to around $400 on the next most expensive. My most expensive day was about $1300 at a show spread over a few pieces, but I did some good selling that day, too, and made quite a bit.
Now with that, there are a few caveats. First, I'm very, very selective when I buy. It's true that I have a lot more spending money than when I started, and I could pony up if need be, but the vast majority of my buys are somewhat cherrypicks, with me getting coins worth well more than what I paid, simply by waiting for a good deal. The average value of a coin in my collection is probably well above my average cost percentage-wise.
Second, while in recent years I've had a lot more disposable income, I put a lot of it into flying since I started taking lessons in June of 2007. I spent about $8200 on my Private Pilot License in 2007, then about $6000 on my Instrument Rating (so I can fly in bad weather) last summer, plus plenty more just boring holes in the sky since I got my license. Flying has been a dream for a lot longer (and much more important to me) than owning any particular coin, and besides, coins are expensive right now. I can get a lot more flying enjoyment for my dollar right now, and pick up some of the pieces I really want in time when some prices come down (or I have more disposable income).
The most I was ever willing to spend was about $1100 on a 1795 FH half, but I was outbid on it. If I ever wished I had gotten something that I didn't, that's the coin, since it's now too much of a push for me to consider buying it. But when all is said and done, I'm happy with my collection, and I'm happy with the non-coin activities I do. I'm not lacking anything for not having spent more in coins, so I can't complain. And when I do have $100k to spend on a coin, it's going to have wings, a propeller, and at least 4 seats
Jeremy
Please explain!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I'm kind of broke, so if that "one" coin came along it would have to zip right by me.
<< <i>the Dexter 1804 or the Carter 1794 in a private sale [those were the two I had in mind when I answered previously], but wouldn't even bid if they were at auction.
Please explain! >>
I think that each is worth about that and wouldn't bid because they'd probably be protected beyond that looking for a sucker.
several in the 3-7,000 range.
I would have dumped them all for a half disme
And if money allowed it, I would have bought me a 1913 nickel
But that won't ever happen, because I don't have that kind of money to spend on a "want."
First comes the "needs" and then the "wants". I try using this philosophy when spending a lot of money on coins (well, at least for me)
``https://ebay.us/m/KxolR5
I have done that twice, a UHR recently and a 1877 IHC in AU53 several years ago.
a few in the $1,000- 3,000 range
......I collect old stuff......
If I were offered a 1700's small eagle half eagle that spoke to me, I'd probably try to raise the money to stretch to mid 5 figures by trading or selling some of the stuff not central to my collection, adding what cash is necessary. Also hoping to be shopping for small eagle silver some day, need the dime, quarter (ouch), and half dollar (ouch!) and dollar. those coins will be mid grade and I'm pretty reasonable about some problems if they occurred during the coin's time in circulation, so a decent specimen may not be entirely out of reach in the next few years even if we don't happen to enjoy any windfall profits in HALO
It's been interesting reading folks' stories about their best coins
Liberty: Parent of Science & Industry
I have put together a little over half the 144 piece Commem set.
Ron
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
FOR SALE Items
If you don't do it when you get to it,
You'll never get to it to do it again.
Shoulda kept it. It would be worth a bit more now! (1.2 ounces of gold!)
As for the "one coin", I don't have one, and if I did, right now all I could do is look and wish.
Thanks to the OP for asking this question. This has been one of the more enjoyable threads I've read in a while.
It helps me to visualize big things when I can relate back to specific instances of "living large".
Times are kind of tough right now, but as I tell my wife every day, "We've always been taken care of, and I'm sure we will continue to be taken care of".
Gotta have faith!
Cheers!