What's the highest cost coin you'll buy raw?

Here you go:

Cal

 

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If you are a competent grader, and have enough experience to detect surface problems, then you should have no problem buying raw coins. If you specialize in a series, then any counterfeits or problem coins will not fool you.

Unfortunately, a large number of collectors are not confident/competent graders, or don't have enough experience to consistently detect problems. If this is where you are - don't worry! Hang out here, study, learn, view coins, and you'll get there.

I don't have any problems buying raw coins, and do so somewhat often. However, a lot of what I buy is already slabbed because that's where the market is. The most expensive raw coin I bought was this Bust Half, which graded NGC EF-40:

 

Not for the first time, you're making me wonder why I ever moved away. But in a month or so I'll check the local weather reports and be reminded. Or I'll wander over to the beer store (that sells singles of nearly everything).

 

I don't have any set limit, but I do quite a bit of study before diving into a collection so that I know what I am buying. Frankly, I treat slabbed coins as raw. I grade the coin myself and determine if i agree with the slab grade/price.

 

#1 I want to tag along with you when you are attending these back-country auctions.

#2 One time I had the opportunity to buy a raw 3-legged buffalo. Unfortunately, I didn't know the diagnostics & walked away. Subsequently, I bought books, viewed examples, went to school, etc. The next time I was offered a raw 3-legged coin I was ready to buy it "Johnny on the spot".

#3 To answer the OP question, about 20 years ago when I collected USA coins exclusively, I set a personal limit of $300. I wouldn't spend more than $300 if I didn't have the assurance of a slab or 2nd opinion. Today I truly appreciate the opinions of others but I could care less about slabs.

 

Test cut?

 

8 o'clock on the reverse, just underneath the wing of the owl. Some ancient chiseled the coin there to make sure it was silver and not a fake

 

I don't set arbitrary price limits for purchasing raw coins as I make an informed decision before making any purchase, raw or certified.

The only area where certification is a must have for me would be with full red copper - too much of it has been toyed with by expert coin doctors that I would want a TPG guarantee.

 

Biggest risk I ever took was this 1803/2 HE, purchased raw at a Baltimore Show. Submitted to PCGS for Walk-thru service. It's since been CAC'd.



'dude

 

Does the US Mint count? Either way, I'd say $500 but I think I'd double that easily.

 

I would go 2 grand for the right 1909-S VDB.

 

News flash, 'dude: The title "novice collector" under your username is not really applicable in your case, at least not any longer....

 

Haha! Got me! I meant Roman ones!

 

Big risk, awesome reward!! This is one of my dream coins.

 

OK, bear with me if you are familiar with Roman Republican coins already. In the Republic, the mint was supervised by magistrates (usually three), called moneyers, who served for one year. They were political appointees and usually young men of prominent families. Being a moneyer was often a first step toward higher office. The coins of a particular year are now classified by the moneyer believed to be behind the design. The design often depicted the moneyer's ancestor or some significant act performed by an ancestor.

The coin shown below is a silver denarius minted in 103 BC by a moneyer, Quintus Thermus, of the Minucia clan:

Q. Thermus, m. f., RSC-Minucia-19; Ob: head of Mars, left. Rv: two warriors fighting, one on left protects fallen comrade, other wears horned helmet. Q. THERM. MF in exergue. Q. for Quintus. M for Minucia, F for filius (son); Records brave deeds of moneyer's ancestor, who was consul in 193 BC. He was in battle with the Ligurians and was reported to have distinguished himself in battle.

Mars is the god of war. RSC refers to Roman Silver Coins, a standard reference. Quintus Minucius Thermus was the name of both the moneyer and his heroic ancestor.

The photos, poor by today's standards, were taken digitally in the 1980's before digital still cameras became common. I used my Sony Hi8 camcorder on a copy stand. My computer was an AT clone with a video capture board installed. The capture board had custom software running under DOS. At the time, this was considered a techno-marvel.

 

I prefer raw coins, so sky is the limit price-wise.

 

Hmm, so exchange the word "moneyer" to "fund-raiser" and I hear you saying not much has changed.

 

You're right that money bought votes in the Roman Republic. However, the moneyers, being young guys, didn't usually have much independent wealth. It was their daddies and uncles who bought votes to help them move up the magisterial ladder .

Cal

 

These days it can be and sometimes IS the runny-nosed kids with the bucks, inventors of some app that got bought out by a mega-company. All of a sudden one lucky app makes you a genius - ... NOT!

 

For me, the answer depends on my end game. If for my own collection, I've paid up to $2000 for rarer Morgans (93-S, 89-CC, etc.).

Above that, I need to sell the coin before I buy it. Have done so with a 79-CC GSA--would have graded at 62-3---(pre-sold for $5900, paid $5500), and a sharp 91-CC GSA (pre-sold it for $6000, bought at $4900). Buyer (a dealer buddy) of the 91 made a couple thousand dollar profit when NGC graded it at 64. Coin had outside shot at 65--which would have been an inside-the-park grand slam HR. But no...they got it right.

and then there's the one that got away....16-D Merc, definitely UNC...in my eye 3-4...available at $6500. Never seen one close to that condition. examined it, loved it, wanted it. told seller i needed a couple hours to round up the cash....sigh..