The $10,000 Question
RedHerring
Posts: 2,077 ✭
If you were going to buy a $10,000 coin this month, what series and grade would you be looking at first?
Since my largest single coin purchase to date is around $3K, this a big decision and I prefer going with a single piece.
I appreciate your opinion.
0
Comments
EAC 6024
For example, I would choose a pedigreed colonial rarity in XF 45 or higher.
So I suggest you define your collecting interests and the minimum grades you are looking for, then people can give you more meaningful recommendations.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
2. $5,000-10,000
b) Affordable Uncirculated Dahlonega Half Eagles: If I had to choose the quintessential Dahlonega gold coin for the new collector, I’d select something like an 1847-D or 1853-D half eagle in properly graded MS61 to MS62. These coins are big, rare, attractive and reasonably priced at less than $10,000. What’s even more interesting about coins like this is that they are priced at essentially the same level as they were in the late 1990’s/early 2000’s. Yes, gradeflation has pushed many AU58 coins into MS61 and MS62 holders. But the popularity of Dahlonega half eagles is as high in 2010 as at any point I can remember. If you can locate a few CAC or “plus quality” Dahlonega half eagles in MS61 to MS62 at today’s levels, I’d suggest that you jump on them.
Anybody got a lead on a $5 1847-D that's a solid MS62 for $10K?
Hoard the keys.
In honor of the memory of Cpl. Michael E. Thompson
Yogi Berra
a nice 1815 Bust Half would be my choice........
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<< <i>I would buy a really nice and PQ MS64 seated dollar. >>
NO! TDN don't give people ideas!
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Outside of the above I would consider some early gold, I saw an 1812 $5 gold piece that I would have been very tempted to pick up recently had it not already been sold
Your way likely will result in a forced purchase, one you will later regret. Cool your jets, put the money aside, and wait until the right coin comes along. It could be tomorrow, next week, next month, or next year.
That said, of the choices proposed, I like the seated dollar in solid 64 of those suggested. I have found Dahlonega $5's in MS-62 to be a mixed bag and relatively illiquid, FWIW.
Your way likely will result in a forced purchase, one you will later regret. Cool your jets, put the money aside, and wait until the right coin comes along. It could be tomorrow, next week, next month, or next year.
Good advice!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Buy 9 2010 American Gold Eagles and hold them until you make 20%. That should take about a month or two.
If I'm wrong, I can't lose....
``https://ebay.us/m/KxolR5
1793-1796 in the highest grade that $10,000 can buy.
In my experience it does not work that way. One does not go out and find a coin for $10,000 just because he/she has $10,000 to spend on a coin. Eventually, one will run into a $10,000 coin and have the opportunity to buy it.
Your way likely will result in a forced purchase, one you will later regret. Cool your jets, put the money aside, and wait until the right coin comes along. It could be tomorrow, next week, next month, or next year.
Repeated again, because both are perfectly stated
Since my foot is still broken and I am better sitting than not, and the coffee hasn't worn off yet, I'll add a little of my experiences;
First I should say I don't buy $10.K coins. I don't think my "warchest" (nickname for my coin-related money) has ever been that large. In fact, to date, I have never spent more then $1.K on a single coin (although I have tried a couple times, and have a few that are worth more than that now). Sometimes I could go well into the low four figures, but often I decide to buy three or four 300. to 600. coins instead. That's just me though.
However, just as a thought ... using a slightly smaller number ... since a $1.K size purchase would be a big deal to me, this is what I do when I'm thinking about those coins ... after I check the "'chest" that is ...
I decide what I want and I check and see if I can afford it, and if I can find the right piece for the money they will surely command, if I think I'll be happy with the purchase.
Actually that is he first thing I do before I check the funds. I keep a list. I modify the list every once in a while, especially while I'm more passive in buying. That helps overcome the lack of fresh pursuit. Sometimes I look harder for those pieces, sometimes not. When the funds are flush, and I have the time, and I'm in the searching mood, I look harder. But when I'm looking I try to think about coins on "the list". There are lots of distarctions out there.
Sometimes it's a date and mintmark, sometimes a little more broad.
In the winter of 1999/2000 I decided I wanted, and was "for sure" going to buy a 1919-S Quarter in Choice AU. It moved to the top of the list, and there it stayed, and stayed, and stayed ... until finally, in January of 2003, I found her. During that time there was probably only a couple of months where other purchases would have put me at a squeeze point, so in effect, the money was always there. I only recall seeing three coins that I really wanted, that had the right look and grade range during the time I had her on top of the list ... the first two times where I thought the coins were nice and "right", they went for far too much money than I had thought was worthwhile. Based on the one I bought and the price I paid, I was probably right, but I don't know as I didn't buy the others. I don't regret passing the ones I missed, and I still love the one I bought. I was glad my patience paid off, but it was a long wait.
Recently I have been fortunate enough to find several more difficult coins on my list. In a few cases, they were a date and mintmark I had been searching for in a grade range I had wanted to acquire ... in another very recent case, I knew the type, denomination, decade and look (and grade range) I was hoping for, and the few dates I did not want. In all of those cases, when the pieces came up, I checked the "warchest", glad that I had kept my powder dry enough to have some left ... thought about it, reresearched and rethought about it ... and pulled the trigger. A couple were aution wins, a few were negotiated sales.
Sorry, that's a lot of writing on the wall. I'll keep it simple if you read this far.
My suggestion is this;
Make a list and check it twice
Do the research, check the availability, know what you are fishing for and make sure you can land it ...
THEN grab your gear and go fishing.
Good Luck whatever you decide ... and keep us posted!!!
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>I would want a very recognizable key date coin, such as a 1916-D Merc Dime in AU condition. >>
Or the 1916-D in AU. I like that also.
Two other coins that are on my list are a 1795 Draped Bust, Small Eagle dollar in Choice EF, or a 1794 half cent in the same grade. I think I’ll need more than $10,000 to acquire either of those pieces.
I think it is wise to budget money for coins and have goals in mind, atlhough I do find such advise hard to follow many times. That being said, It is easy and fun to spend money, and thus it is easy to spend it foolishly. My experience in buying nice coins that are costly (and the proposed $10K coin certainly fits that moniker), is that they show up at the most inconvenient or least expected times and I generally don't have a ready "war chest" to buy them. What I use in such cases is a strategy that works for me. First, I make sure I really, really want the coin and theat it works for me. Then I work with the seller to see if there is a payment plan that works for us, a trade-in that makes sense, or use my home equity line of credit to make the deal (or some combination of these tactics). The home equity line of credit is a very low percentage loan (right now anyway) and generally the interest is tax deductible if you itemize on your taxes (I am not a tax lawyer so your own situation may vary).
Thus, I tend to make my purchases aimed at the right coin when it is available, and figure out how to pay for it next. Yes, there are many times that I really, really want a coin, but the cost of obtaining it doesn't work for me, same as for most people.
Plus for a super 2 coin set
1839
or option 2 (best one)which is a better coin if not better date
1839
+
Me + my new coin & My Wife and a two piece swim suit= 10000