I’ve been spending a lot more time listening to the second system this past few weeks, rolling through some low-cost retro gear that I think really flies under the typical audiophile’s radar. By ‘retro’, I mean it’s no longer in production but still very much viable via the used equipment markets. The Ayre Codex first appeared around 2015, and when last produced, retailed for around $1995. It can be had used nowadays for $650-$950, depending on where you look and how hard you’re prepared to negotiate. (This is my second Ayre Codex; I sold the previous unit a couple of years back and immediately regretted it!)
Over the past weeks and months, I’ve been playing with a few relatively inexpensive DACs, including the little Ayre Codex, which is the star of this mini review. Alongside the Codex, for comparison, I’ve spun the PS Audio Directstream Junior DAC and the Chord 2Qute. (I’ve since sold the PS Audio and Chord DACs).
Ayre Codex DAC / Headphone Amplifier Specs
The Ayre Codex DAC may not look like anything special on the surface, but don’t let its quirky minimalist aesthetics fool you. This compact little box packs enough audio wizardry to make even the most skeptical audiophile nod approvingly, with file resolutions of PCM up to 32/384 and DSD128. In fact, for such a small and relatively inexpensive black box, it has a pretty impressive spec:
- USB and Optical (Toslink) inputs
- Headphone outputs – Two 3.5mm mini-phone jacks and one ¼” phone jack with 3.5mm mini-phone jacks configurable to balanced mode
- Asynchronous transfer mode for USB input
- DSD or PCM input over USB
- Minimum phase digital filter
- Single-pass 16x oversampling
- Ayre’s exclusive Diamond output circuit
- Linear analog AyreLock power supply
- zero-feedback and fully-balanced discrete circuitry
- Equilock circuitry for active gain devices
- Some cute rubber feet that allow it to sit on its side or on its tummy.
Ayre Codex DAC and Headphone amp with Lumin U1 Mini
Ayre Codex DAC / Headphone Amp – Build Quality:
First impressions? This thing is built like a tank, albeit a small tank, not a big and heavy tank. The minimalist design is a refreshing change from the blinking disco lights of many competitors. No nonsense here—just solid aluminum housing that whispers, “I mean business.” And, yes, it can sit on its side so occupies very little space in the rack. Even the little Chord 2Qute couldn’t hide itself as stealthily as the Ayre Codex, and the PS Audio DSJ – well, that think took up the entire rack.
Features:
The Codex is the Swiss Army knife of the DAC world. It’s a headphone amp, a DAC, and a digital preamp all rolled into one. With balanced outputs, USB, Toslink, and even a 3.5mm headphone jack, it’s pretty versatile for such a small box. Just don’t expect Bluetooth or any modern streaming features. On the rear of the unit you’re treated to both balanced (XLR) and unbalanced (RCA) audio outputs, with both USB and optical inputs, as well as an IEC power connector and switch. Again, the unit is no slouch on the digital front, but more modern DACs have progressed a bit in terms of specifications. The Codex goes up to 24-bit/384kHz PCM and DSD64 and DSD128 are both accommodated by the ESS ES9018K2M 32-bit DAC chip.
Sound Quality:
Let’s get to the juicy part. The Ayre Codex doesn’t just play your music—it carves it out of thin air and serves it on a silver platter. The soundstage is spacious, and very much front row where it feels like you’ve moved your couch into the recording studio. And the clarity/transparency? – it’s right up there. I think it’s every bit on par with the Chord 2Qute, though the Chord sounded a bit more etched, detailed, and bright, where the Ayre Codex is a little more fleshy and real sounding. In terms of substance, and flesh on bones, it doesn’t have quite the same level of midrange presence and body as the PS Audio Directstream Junior, but it’s pretty darn close.
Bass is tight and controlled—no bloat or flubby low notes here.
This is one very nice sounding DAC. You’d have to spend quite a bit more for a noticeable improvement. While I’m not that guy that spends his days rolling through countless mid-priced DACs, I have owned a few over the years, including the aforementioned PS Audio DSJ, the Chord 2Qute, along with the Mytek Brooklyn+, and an inexpensive Gustard X16 DAC. I’ve also owned the Denafrips Terminator and the Holo Audio May KTE DACs, and the little Ayre Codex is not quite in the same league as the Denafrips/Holo Audio DACs, as one would expect, given the cost.
It mated perfectly with my Lumin U1 Mini (with Sbooster upgrade), so when you figure the combo of Ayre Codex and Lumin U1 Mini can be had used for under $2,000, that’s really hard to beat for both sound quality and value for money.
The Headphone Amp:
I don’t use headphones; they’re just not my thing.
Quirks:
No device is perfect, and the Codex is no exception. The controls can feel a bit fiddly, like a throwback to the era when engineers thought everyone wanted to navigate menus with two buttons.
Final Verdict:
The Ayre Codex DAC is for the listener who wants substance over style, sound quality over frills, and timeless engineering over fleeting trends. It sounds bloody good at any price and competes handily with DACs from Chord, Mytek, PS Audio and Gustard, though as you climb up the pricing ladder from the other brands you’ll eventually leave the little Ayre Codex behind.
In a world full of overpriced snake oil and overhyped gadgets, the Ayre Codex is a breath of fresh air.
CAH (review written early in 2024 and published December 2024)
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