How much should you spend on a coin?
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- เผยแพร่เมื่อ 31 ก.ค. 2024
- Coins are available from 1c to many millions of dollars but how much should you send on coins? What is the sweet spot? What makes sense?
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My coin sweet spot is whatever I can afford at the time... I have a certain amount to spend. ,$100 or $2,000.... I still obsess for hours about what to buy, sometimes the fun in coin collecting is the search.
+1973 Pro street c10 that is definitely the case. The not knowing if another collector values that item higher is another factor for auctions.
Amen.
1973 Pro street c10 agreed!
My advice to new collectors is: if you have around £100 to spend, it’s better to have 5 coins worth £20 each (maybe silver, maybe proof, possibly low mintage) than have 100 coins worth £1 each...
Good vid! When times are good numismatic value can skyrocket, when times are bad they can plummet.
Very well done...thank you Numi!! ;)
In my opinion you shouldn't be buying any coins or precious metals until you are 100% debt free.
+AG Argentum that is a very important philosophy but only really applies to investment as otherwise nobody would do anything for leisure while in debt. But being debt debt free (credit card) is sound advice
Collecting ancient pieces is much better because for less money you can get much rarer pieces, even unpublished and unrecorded pieces if you're lucky every once in a while. Recently for the price of a common coin, I got a coin from early Islamic Sindh region that is unique and not even in the collection of the British museum :)
I am s-l-o-w-l-y "stacking" Pre-33 US $20 Saint-Gaudens Double Eagle in BU state. I am buying them for $25 to $35 over spot...in my opinion a bargain. Beautiful coin and rich in american history.
RDub Stacks I agree. I like the common date MS64 and 65 coins. A balance of bullion and numismatic value.
An excellent overview for the different levels of collecting, each one has their advantages and disadvantages. Mine would be somewhere between the under $50 range and $300 range for collector coins, except for this year.
I really enjoy watching your clips and learn a lot from your expert understanding of coins.
Keep up the good work of educating coin lover and beginner like me.
Thank u Sir and hope that u will not stop producing these kind of amazing clips.
Great video
I am a low end collector. Not a lot of money to spend on my hobby. To be honest, I even feel intimidated to post on the Silver Forum. I do anyway, though. Because I learned so much from the members there.
+John A I hope you keep posting as there are many many on silver forum in the same position and with the same interests
Thanks...also I hope your place on the East Coast didn't have too much damage. My place had no damage but we were without power for 1 week. You can check out my Hurricane Irma videos. ;)
So much progress from then until now from what i see, i am as new as new as can be to coin collecting but you are an inspiration to me.
That 2017 sov is amazing. Thanks for the video. I’m always learning from you.
Another excellent video showing the different price and metal entry points. I personally like the two PR64 Proofs!!
I enjoyed this video. You make some great points on collecting.
Great question and info for new people ty for taking the time! Make an adjusted one for during Covid-19 PLEASE
Very interesting way of looking at the hobby. I love how there is something for everyone at so many price points. When I first started it was in the lowest but the more I learn the more I'm interested in moving up levels as I'm able to.
Numi, I am binge watching your vids today. It's amazing to see how far your content has come over the years. Low value coin I've always been in love with, the V nickle. I'd love to know your favorite cheap coin.
I really appreciated the fact that you said it's better to have one or two good quality coins that one or two hundred mediocre ones! At the moment I'm in the very early stages of my coin collecting 'career', so I'm just buying whatever I can afford at the time, and seeing what I like the look of.
I’ve been going for gold at the 1/4 or less, and CC Morgans. Usually trying to stay between $200 to $300. I haven’t thought about saving for one or two truly high end coins until now.
Excellent video...lots of excellent information. Thank you
Great video, really helpful!!!
This topic discussion is important to cover on a regular basis (like annually) to benefit all levels of coins/medals/exonumia collectors.
+Coins A-Z it's something I ask myself constantly and it does change over time
Great video numi key point you made is get educated and buy books like the March book to learn before diving in knowledge is power in all investing I upgraded my targets after getting the sovereign book now just buy rare or scarce coins which in my view better investment numi provides great ideas and education so this site and others on utube are where I learn a lot can never learn too much
Very enjoyable video! I have some coins given to me by special people that have little monetary value but a great deal of sentimental wealth . I did convert some of my IRA into gold American Eagles (9 total) but I tend to buy new silver 1 ounce coins from Mints like Perth, Pobjoy, Royal Canadian, Royal Britain, Chinese Mint and Scottsdale Mint. I lost interest in the American Silver Eagles. The low mintage silver coins interest me the most (3,000 to 50,000). Thanks again.
After watching this, I'm going to buy another Silver Eagle Proof tonight. 😎
Thank you for the GREAT Video's!
I'm about to spend $1500 on my first sovereign. Its in great condition. Hope it goes up over time
I buy coins from $50 to $150 level, and enjoy all of them. I enjoy all of your videos, and the beauty of higher valued coins
I have a 50p 1976 coin which is nearly twice as thick as any 50p coin struck today.
Another Superb Video Thank you.... great advise, "better to get one excellent coin than 3 mediocre coins"... I apply that to collecting artwork, antiques & any collectible. It's always better to save up then "pull the trigger" .
That said... I often purchase items just because of historic interest, fascinating symbolism, just because I like them.
Thanks again
PS: my "sweet spot" (for silver coins & medals) is probably around $3-400... (I have found absolutely remarkable items in that range.
+James Hopkins yes that's a great range as it's just above everyday spending and enough to get special items. I buy many coins because I just like them too
a wonderful comprehensive look at why we stack or collect and a very open minded look at the levels of coins that are out there. I try to stay away from non precious metal coins, but I agree, there are a plethora of beautiful base metal coins out there in circulation. Thanks for the conversation on this topic my friend!
+MrZeke it's a great pleasure my friend and I believe strongly collectors who come in at the lowest level are the lifeblood of this hobby for the future.
I agree completely my friend, I know there are many of us that stay in the 100 dollar or less level, but we can accumulate a great deal more, sort of the hybrid weight vs. numismatic compromise.
Great guide thanks for tips we all need i dont focus enough get new interests but trying to focus on poured silver
+Robert Walterman I love poured silver bars. Take a look at @backyardbullion for hallmarked poured silver.
I bought thee last 2017 Berlin Money fair Panda pf70 from MCM for $388.00
My most expensive coin...i had to! It was the last one! That panda label....
I have high hopes. GREAT video.
Once again a fab video with a lot of very good information and advice
+yazzw thanks you are too kind but I should try to make more general advice videos as well as the unboxings
A most excellent batch of advice and perspective on coin collecting Numi. I'm mostly a bullion stacker but I've been getting a coin collectors itch I'd like to scratch.
If you've done a vid on the Walking Liberty half dollar with MS grades, please be so kind and drop a link. Thanks
I agree with you buy the best you can and it will pay off in the long run but be careful you don't get ripped off
A Thought provoking video. I am a bit all over the place when it comes to buying coins, it's time to concentrate and do more research before buying I think. I see a few 1 oz gold coins on the horizon. Cheers.
+ian fraser nobody goes wrong with a few plain old 1ozers
Thanks for sharing. My sweet spot is low end. But I dont like it that. I want $100 range but get scared ill get burned. Maybe ill save up for a $300 now. I want to trade but also want to try to impress when I die. Its been a love hate ride with coins in my life. When grandpa died, it was his coin and stamp collection that was important.
I always say if you like it, can afford it, then buy it! Hey SM!
COOINZ!
I'm definitely a low end collector because of budget reasons. I'm finding that my sweet spot for collecting is between $30 and $80 for a coin. Sometimes it rises to the $200 dollar level. I did manage to get the Britannia Rules the Waves for about $70. Quite happy about that!
+Victoria I have some at grading now and interested to see the results
Great vid bud very informative
+Platinum Skies thanks very much bud ))
I find this very satisfying and fulfilling. But i do like bullion coins and my old 19th century sovereigns
Great video to watch!! Normaly I buy in the €100 to €400 price range. I did buy more gold coins in the last year(mostly panda's) but I also like high grade older Dutch coins ms64>
+SGcoins the range is a hot liquid range and buying quality is the best thing to do.
The 200-700 range is for me a sweet spot. In that area the more interesting German Empire coins come into sight most of the time they are already graded by NGC or PCGS.
Though currently I am in the lower level. I'm saving a bit to get a higher level coin.
+Kevin Grootaers I think that's a good sweet spot as it's often worth grading and good liquidity too
I collect what I like ! It just happens I like top quality and proof numismatic !
Heh who doesn’t like that.
Mr Fenton of knightsbridge coins Uk London had a very bad time concerning the1933 double eagle. He managed to get the only piece left from King farouk of Egypt when he died. He went to America to sell it at auction, and while he was at his hotel, got arrested by the FBI. He went to court over this coin, as nobody was allowed to own it. He fought the case over a number of days and won the case. He sold the coin, and got a considerable amount of money for it. Had he lost, he would of had a long prison sentence. He must of felt sick over the whole thing. All of the 1933 Twenty dollars had to be returned for melting, and nobody was allowed to own them. King Farouk of Egypt had this coin in his own personal collection, so how he got nobody seems to know. Hope you find this of interest.
I can't afford food and pay the bill right now but I like to see you all being able to stack.
Sorry to hear that bro I was in the same place a few yrs ago but things got better I would just say there are alot of people who collect silver and they will stop eating out at work or buying that £2 coffee and take a sandwich from home instead so that they can maybe buy a £20 coin that week hope things get better for you I understand that if you have 0 coming in u have £0 to save but alot of these people are buying coins now while they have the money to so they know that if the shot hit's the fan they have put away 20to40% of the money they would have wasted to get them to a point where they can keep the lights on and feed the family ect till they can get an income again no disrespect to you in anyway I hope you all the best but just wanted you to know that it's not all millionaire stackers that watch these videos and can spend a fortune everytime they want to all of ppl are trying to future proof there savings just u can have fun doing it take care and sorry for the long msg
I might spend a few thousand, if I find something that blew my mind, I could afford to spend 5 figures, possibly 6 with some saving, but I don't like to put too much money into one coin or even 1 way of saving.
Where do you get your plastic sleeves from? I'd like to order a lot of them.
Good day Numi, love your channel! I just bought a 1926 AU British Sovereign with a strong SA Mint mark. I got what I think is a good deal but have no idea what the premium on this coin should be. Any help would awesome!!
It won’t have any specific premium as there are lots around but if it is a great condition it will be worth more.
Great vid numi what do you think of the 50p penguin set from the pobjoy mint sir ???
+pmoxie29 be very careful with pobjoy as only a very small number of coins will ever make money. I would not invest in Penguins but I may be wrong
cool
How much should you spend on a coin
Thanks for another great, informative video. Good advice about avoiding the lower end of the market. I generally tend to go for coins with numismatic value worth around $1000. I'm a new subscriber and have a quick question about NGC grading, is there somewhere in London (or elsewhere in U.K.) where I can send some of my coins to be graded by NGC?
+Heavy T I am the only place I know for NGC in London )) you are most welcome to pm me on the silver forum it's easy to register. I offer s grading service via NGC for about 50 collectors so far.
Thanks, just registered on the forum and sent you a message.
How much are we looking at for the Piedfort Sovereign PF70 do you think? Have any sold on eBay yet? I can't see any! 👍
+Mancunian Stacker I haven't noticed any sold I guess people are keeping them. I know some that have sold privately £1000 or so.
Love your sweet spot. Lol
Do you ever buy ancient coins like hammerd or roman if not do you have a particular reason for not doing so.i love hunting for good condition hammerd coins there's so many variations of type and conditions
Grant Keeling I have 2 of them but I feel I don't yet know enough to make good decisions or spot bargains. In time I will buy more I think.
right now my only sweet spot is on my shirt...
Please make "Trusted dealers in China" part 2
The most I've spent on a single coin is almost $2000 CAD. It was a 5 Sovereign
+J Silver the 5 Sov is a great piece. At $2000 Canadian it's not bad
I have 2 of them now! They are amazing pieces
Have the prices for the top of the range sovereigns ever fell over the past say 50 years? it seems like the market for them only ever rises but I don't know that for a fact.
+Goblin all the ones I have price checked seem to rise slowly each year.
A really nice historic sovereign would make a lovely nest egg to sit on for a decade or two.
Is the 37 sov yours
+Platinum Skies yes that's mine