DAC for Aurender N200

@soix Clocks are not as important for USB compared to the other connections. Also, the N200 only uses a TCXO clock and not an OCXO clock like the N20. Big difference!

FWIW I am running my N200 with USB to a Denafrips Hermes/Terminator 15th combo and it is a really good combo. I like R2R dacs. I also like the option to use the I2s connection as wells as the clock sync function. The Terminator is a huge DAC and very well made.

Thanks @audphile1 I stand corrected. 

@soix actually AES/EBU is best with N20. N200 only has coax and USB and the latter definitely sounds better.
I ran the N200 with PS Audio DSD MkI, Chord Hugo TT2 and Bricasti M3.
Love the Bricasti DAC.
You can pair the N200 with a lot of good DACs out there.
Used Bricasti M1S2 or even M21 if you’re lucky on a used market.
For PS Audio DSD MkII I would keep an eye on TMR website as they get used PS components frequently. I like PS Audio but it wouldn’t be my first choice.
@fthompson251 just paired his N200 with the latest Denaftips Terminator and he’s impressed. May be he’ll chime in.

My understanding is if you use USB then you don’t get the benefits of the excellent clock in the N200, which would seem like a waste.  I believe @audphile1 has mentioned the best connection to use is AES/EBU with the N200, but not sure on that but it makes some sense.  For the DAC, it totally depends on what improvements and sound characteristics you’re looking for — let that be your guide and if you share that info you’ll get some great recommendations here. 

Take a Look at the T+A DAC 200 - works well with Aurender, is very musical, has a separate DAC circuit for DSD and is also built like a tank and made to last.  Fits into your budget as well.

There are a number of good DACs in your price range. Many people like the PSAudio. I would definitely recommend a used Audio Research Reference 9... it is more refined and detailed while remaining extremely musical. The ARC REF9 is an outstanding DAC an will get the best out of the N20 and N30 Aurrender streamers.

I am a big Aurrender fan. The entry level Aurrender streamers use USB only... I have a N100 on my headphone system. All the Aurrender streamer above entry level have coax and AES. On my main system I have a W20SE and use AES. I remember trying the coax and not finding any obvious differences in sound quality.

USB streamer output puts a larger amount of processing on the DAC. A simplified look at USB is that the bitstream is retimed by the DAC... with the other connections it is not.