Poll: Most you (a collector) have spent on a coin

If you are primarily a collector, please answer this poll. For security and privacy reasons, answers are NOT revealed publicly, so others will NOT know what you chose.

A discussion on one of the TPG forums has brought up an interesting question, and I'd like to get some input from a more representative sample of collectors than the "big-wigs" who frequent that forum. Yes, I am aware this is not scientific and only limited to members of this forum. Some data are better than no data. Thanks! Brandon

 

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I voted. The most I've ever spent, to date. Not really sure what else there is to talk about since the poll is private. I am only a collector and haven't sold anything.

 

@Jwt708 , thank you for completing the survey.

The discussion on the other forum was about how many collectors in the USA feasibly need "dealer representation" to bid on coins for them at auctions. A poster there seems to think that it is relatively common among collectors to collect coins in the $10K or higher range. I vehemently disagreed, and chalked it up to relativity. I mean, among the über-wealthy, even a $70,000 BMW is considered a "cheap" car.

I have a collection worth in excess of $100K, and consider myself to be someone quite picky about what I acquire. Yet, I have never purchased a coin for $2K or more.

 

This forum weenie as she likes to call us 2 @ 2k+

 

Interesting survey Brandon.........I imagine we're mostly blue collar in these parts.

 

$12k on 35 sets.

 

The most I have ever spent was $76 on a Mercury dime roll. I'll be out of that range pretty soon thought.

 

I'd rather have 4 quarters than 100 pennies. Basically I'd rather save up for 2 or 3 years and buy one really expensive coin rather than spend some small amount of money a week buying stuff that's just okay. With that being said, I still haven't even come close to spending $10K, even on my entire collection.

 

I paid $100 for an 1834 Capped Bust Half in around a high VF, I think I overpaid though considering there was a fairly small toned over old gouge on the reverse.


I own a few coins worth a little more but those coin have been found either CRH or Metal Detecting. I also found an 1870 1/4 Cal. Gold coin along with some other Cal. Gold Tokens when I was visiting family seven or eight years ago. They were in an old car on their property. Nobody there had any ideas who's coins they were and why they were there so they let me keep them. Sadly I lost what I hope was a token on the way out of the car . The car has been since hauled away to the junkyard when they sold the property recently.

 

I do not see dealer representation as only being for high end coins at all. Now, bidding on a high end item like a sestertius and not having a talented dealer vet it that it has not been tooled is stupid, but there are many reasons to have a dealer bid for you and check out the coins. I have a dealer represent me in European auctions all of the time, especially group lots. Group lots usually are not well photographed, and he is there to inspect them personally and let me know the value.

 

I'm interested in the results of this as having visited a recent coin show was surprised at just how much folk were prepared to pay for coins. As an extension to this survey I would be interested to learn the average cost AND frequency of purchase. @ArthurK11 has said he'd be prepared to save up and wait for a few years. I take that to mean buying very few but excellent quality. How normal is that. Voted.

 

There are many people that will save up for a certain coin in the way that non-collectors will save for a car or a home. It is all about budgeting.

 

My high was on a PR-65 half cent. Though I have a few coins that are a little more valuable, I often have to do trades for them.

 

I would argue that the vast majority of coins sold are under a couple hundred bucks. There are some deep-pocketed collectors that buy more expensive coins, but they are a minority. I would say that many dedicated, advanced collectors have bought coins in the range of $1k, or more - but this is a very large sum of money for most people.

This coin is the most money I ever spent on a single coin (although, I don't believe it is my most valuable coin). I have a couple coins that I spent $5k+ on, and several in the $2k-$3k range:

 

That toning!

 

In the past couple of years, my buying has slowed down considerably. I used to buy a few coins a month, for relatively small amounts. Now, I buy 3-4 coins a year, for relatively large amounts. Part of that is due to the direction my collection has gone, part of that is due to my insistence on quality. If I had the patience, I would go even longer and save even more.... but I've got the bug.

 

I like your poll, too, and accurately answered it. However, most of my purchases are generally $50-100. I rarely buy these days, because I really love the collection I have now, which is a moderately valuable collection.

 

I feel for both sides - that is the "buy lots of coins" and the "save and buy few coins." Both make sense and it boils down to personal preference. If I was still just collecting my trade tokens, I would have voted in the 0 -$99 and possibly in the $100 - $299 range if my white whale had appeared. The overwhelming majority of the tokens I collect are around $10. This is not a bad thing! Wonderfully pristine tokens from long shuttered bases may be had at bargain prices, although scarcer or more popular bases will command a higher price. Makes it fun when you blow your coin budget and get a bunch of nice stuff.

But I got into ancients so things changed.

 

When I buy a coin it's either an upgrade (another coin will be sold instantly) or an investment (usually that's a common year gold coin). Now I am down from buying a coin /week to a coin /month. As a result the average value of the coins in my collection increased significantly over the time. I feel comfortable spending $300 on a coin which is slabbed, nicely toned and in a "better than average" condition but wouldn't buy 6 coins worth $50 each.

 

Voted. This was my most expensive purchase...MS64 RB