What's the most expensive coin you ever traded up for?

MidLifeCrisis · September 27, 2010 3:37PM

Many collectors cannot afford to buy very expensive coins in a straight cash deal. But if you - and the dealer - are willing to trade several inexpensive coins for one expensive coin, this can sometimes work out well. Your dealer gets coins for inventory that are relatively easy, price-wise, to sell...and you get a coin for your collection that would not be possible otherwise.

So what's the biggest, most expensive, trade deal you've made?

illini420 · September 27, 2010 3:48PM

At the end of 2009, I traded ten different First Spouse gold coins (5 oz. gold total) for a penny:

GoldenEyeNumismatics · September 27, 2010 3:49PM

I don't recall the last time a actually traded a coin, although there have been countless times where I've sold something to a dealer, and used that to cover all or part of another purchase from that same dealer without any exchange of cash.

MidLifeCrisis · September 27, 2010 3:58PM

<< <i>I don't recall the last time a actually traded a coin, although there have been countless times where I've sold something to a dealer, and used that to cover all or part of another purchase from that same dealer without any exchange of cash. >>

If this was part of the same transaction, or very little time elapsed between the sale of your coins and your purchase with the proceeds from that sale, I'd call that a trade.

melvin289 · September 27, 2010 4:21PM

Maybe I shoulda been doing that years ago instead of holding on to everything I ever owned with my greedy little hands.
I have never disposed of a coin. I have kept them all, even upgrades. I had enough left over Booker T. Washington Halves that I almost finished a 2nd set, and then I upgraded it.

Ron

Elcontador · September 27, 2010 5:28PM

Bought a nice 1835 1/2 Cent in NGC 4 BN. Crossed it to PC @ same grade. The next year, I picked up an 1835 1/2 Cent in PC 5 RB @ auction. Sold the one in 4 BN to a dealer to help cover the cost of the new coin (actually made a minimal amount of $ in doing so as well).

ambro51 · September 27, 2010 9:07PM

Ive not done the "lots of cheapos" for one good one type trade. But I have traded somewhat sideways to acquire an 1860-D and 1875 gold dollar...among others.

Currently in the process of another somewhat sideways type of deal for a few of the finest known feuchtwanger 3 cent pieces. Complicated stuff but I enjoy it.

MidLifeCrisis · September 28, 2010 1:54AM

ctf_error_coins · September 28, 2010 2:18AM

I don't trade coins for a coin with another dealer. I have however sold many coins myself in order to buy a high end error coin from a dealer that I would otherwise not be able to afford. I have done this exact scenario more times than I can remember. This is the best way to upgrade a collection, IMO. Works Great.

saintguru · September 28, 2010 2:29AM

Probably when I bought a 1927-S MS66 Saint in auction and sold my MS65 simultaneously from my cellphone during the sale. The arbitrage was unbelievabel. Both are extremely rare and I believe I paid $184K for the 66 and sold the 65 for $140K and sold the 66 2 years later for $240. My best coin, by far.

Teva · September 28, 2010 2:44AM

I traded a 1832 half cent and a little juice for a 1794 liberty cap cent.
I think I lost on both ends of that deal.
That was long ago and I am more seasoned these days.

Billet7 · September 28, 2010 2:47AM

Most of mine are upgrades to some extent or another. I usually begin a collection by purchasing very nice, average grade stuff and certify the pieces. When the collection matures, and I feel like I have a solid handle on the grading and nuances of the series, I begin upgrading to my target grade. For example I am currently in the beginning stages of my Seated Quarters set. Right now I am Shooting for XF coins, but will settle for VF if I really like the coin and it's a reasonable price. The tougher dates I will take in any grade. When I get near set completion I will nip and tuck the collection until it is, as a whole, a collection that I am proud of. I will not usually settle for coins that I don't love unless it is a very tough coin. I only buy coins that I think will certify. So far I have certified around 30 coins in the series and only 1 has bodybagged (I thought it had about a 50/50 shot. It was original, but a small amount of damage.) For me it's a learning journey as much as it is an end result. I will sometimes settle for coins early in the set because as someone once said "a bird in hand is better than two in the bush." And in many cases I will never be able to upgrade. For instance my 1860-S will likely never be upgraded from a G-6. Higher grades increase in price dramatically. There are currently no real uncirculated examples (so says Gardner...the owner of the only NGC graded MS example, and Briggs) so XF examples are moon money! Plus I like the coin, so it would have to be a special coin for me to upgrade, and at a reasonable price to boot!

Currently I am at the mature stage of my Bust Quarters. Right now I am tailoring the coins to fit what I want the collection to look like. I usually make money off the coins that I am upgrading from by selling, then purchase the coin I want. This is upgrading, but not trading up. Usually I get a better price on the coin by doing this than I do by straight trade, but I do trade when the situation is benificial. I would always prefer to trade, but nowadays dealers are not giving as much as they used to, and I paid strong money for some of my bust quarters.

Long story short, the most expensive trade I have ever done is an 1818 bust quarter for one of a slightly higher grade. I have also traded an 1801 bust half dollar for a fistfull of old copper, not an up-trade...more of a side-trade.

Sorry for the rambling!

Billet7 · September 28, 2010 2:49AM

<< <i>Probably when I bought a 1927-S MS66 Saint in auction and sold my MS65 simultaneously from my cellphone during the sale. The arbitrage was unbelievabel. Both are extremely rare and I believe I paid $184K for the 66 and sold the 65 for $140K and sold the 66 2 years later for $240. My best coin, by far. >>

WOW...all I can say is WOW!!!

speety · September 28, 2010 3:14AM

We "traded in" our PCGS XF45 1871-CC seated dollar plus some cash for an NGC AU-58 1871-CC.

The old PCGS XF45 coin is still bouncing around from dealer to dealer at much less than we got in trade for it...

What's the most expensive coin you ever traded up for?

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