Which budget USB DAC under 200USD

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I don't have any recommendations for boards in stock form. However almost any TDA1387 based DAC has bags and bags of potential for being modded to the heavens. The cheapest one (I'm modding half a dozen of these right now) is here : L1387DAC 4X ??TDA1387 ??USB???(??+??),??TDA1543-???

The price of 44rmb (about $7) is for a board and kit of parts you need to assemble yourself. For $15 you get a finished and boxed DAC. The cost of the parts for the mods will probably double that.

Here's one of my boards in process of being modded.
 

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These Weiliang designed DACs are cheap but their design's maturity and stability are not as affirmed as those more established brands. IMHO not worth to take the risk just for a small price difference.

Personally, of all the budget DACs out there, I will choose Yulong Canary DAC above anything else. You can see from the design that it worth every cent.

An externally hosted image should be here but it was not working when we last tested it.

That does indeed look very nice... It seems like best buy at the price.

It is also a full-blown analog input -> class A discrete headphone amplifier as well (!!)

Reviews are very positive. here's one:

Yulong DAART Canary - The Elitist Journal

...this eBay site has nice photos...
YULONG DAART CANARY DSD SABRE 384kHz DAC DIGITAL ANALOG CONV headphone amplifier | eBay
 

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I have received mine now and after opening it up I cannot recommend it to anyone not willing to mod it. This is a comment not based on the sound quality but rather the (lack of) electrical safety. The chassis isn't earthed and the mains connections to on/off switch and IEC inlet aren't covered in heatshrink. At the very least these two basic safety mods would be a requirement.
 
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