When Do You Upgrade Your Coins?

Have you ever deliberated over when it’s the right time to upgrade your coins? I’ve been there before, certainly as a collector. I’ve even written about this topic before, posing some thoughts on the four things to consider before upgrading coins. But there’s another question to answer in this dilemma, and that’s the when – when should you make the move on buying a better example of a coin you already have?

I know the answer is different for everyone, and my opinion here is merely that: an opinion. It doesn’t reflect any official philosophical stance either of this company or of any numismatist past or present. And it comes down to this: when are you no longer satisfied with the coin in hand? You see, something you’ve probably heard (and read) a lot about in this hobby is being “happy with the coin you buy,” whatever it is. Often, the level of happiness, so to speak, one experiences with the coins they buy is based on the overall quality of the pieces they purchased. This “quality” matter may relate to grade, eye appeal, color, or some other factor about the coin, tangible or abstract.

Sometimes the deciding factor in when to upgrade comes from more external determinants, such as stiff competition on the PCGS Set Registry. All some collectors need to feel compelled to upgrade their collection is a bump down a notch or two on their set category’s leaderboard to flip some coins for pieces a grade or two better. I’ve heard these types of stories many times as a journalist interviewing collectors about their Set Registry ambitions.

Another time when collectors might feel the urge to improve a couple of slots in their collection is if they happen upon a windfall of discretionary funds. Sometimes such fortuitous situations can drive a collector toward finally buying a coin at a grade level they wouldn’t ordinarily be able to afford. I haven’t been in such a situation before, but I know others who have – and in many cases the unexpected opportunity to upgrade an expensive coin or two helped bring their collections to levels they never dreamt they could achieve.

Yet, at the end of the day, when the coin you hold in your hands no longer evokes that sense of happiness, completion, or satisfaction, it may be time to trade it in. Many will jump at the opportunity to flip their coins for something better. Others are more hesitant, lest they suffer from seller’s remorse. That’s a situation you as the potential seller must discern before moving on an upgrade or holding on to what you have. And it’s a decision I hope you make in good numismatic health!