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Destiny TTK Guide: How to Obtain Y2 Versions of Y1 Exotics When They Are Release

The majority of this guide is intended for players who have Y1 blueprints of the new and upcoming exotics as well as you must have an excess of Exotics Shards (ES). If you are lacking in either of the above two, jump to Step 3.

1. Budgeting
"It isn't what you earn but how spend it that fixes your class."
― Sinclair Lewis, It Can't Happen Here
First step is to pick your top three items you'd like to upgrade from Y1 to Y2. Now budget. Determine how many Legendary Marks (LM), ES, and Glimmer it will cost you and save.

For me it's the following:
Mida-Multi Tool (150 LM, 1 ES, 2500 Glimmer)
Armamentarium (125 LM, 1 ES, 2500 Glimmer)
Achlyophage Symbiote (125 LM, 1 ES, 2500 Glimmer)

Total: 400 LM, 3 ES, 7500 Glimmer

2. Legendary Marks and Exotic Shards
"It's going to be legen- wait for it- dary"
― Barney Stinson, How I Met Your Mother
Once Bungie announces the date of the new exotic releases, (most probably will only be about a week ahead), stop spending your marks. Immediately. Only use what is recoverable once you max out at 200 marks.

If you are not maxed out as of yet, use the daily/weekly crucible/vanguard to reach 200. At this point, don't dismantle items to hit the cap. Save them for later.

Next, save your ToO bounties which provide Legendary Marks to have 50 marks per character in storage. Also provided you have vault space, save any Legendary Engrams and Gear for additional marks after dismantling .

This now provides at least 350 of the 400 marks required to hit the your budgeting goals. The remainder can be achieved afterwards by completing the daily/weekly crucible and vanguard tasks.

For Exotic Shards, if you are sitting between the range of 10-25 then avoid wasting/spending them on unnecessary infusions or Glass Needles. It will cost a minimum of 4 ES per item to rank it up to 310. (1 for the purchase and 3 for the infusion). Save those precious babies.

3. Strange Coins (SC) and Xur
"I have information but I do not know yet if you are the one it is meant for."
― Xur, Agent of the Nine, Destiny
Farm, Farm, Farm. For SC obviously. The goal is to acquire as many as possible as efficiently as possible. Then to spend wisely and responsibly.

Stockpile on Three of Coins (3oC) and avoid using them for the most part. Once the new exotics are released you can farm strikes or any other way and have a chance of getting a "new" exotic from the updated loot table.

Also, you may be able to buy Exotic Engrams from Xur if he sells them during the weekend after release and hope for the best.
"Long Live Alpha Lupi! Long Live Alpha Lupi!" ― No One, Ever
4. Exotic Engrams
"I think it is very possible that I am here to help you."
― Xur, Agent of the Nine, Destiny
If Xur is around and he is selling Exotic Engrams for the Item you are looking to upgrade, then purchase three of each. I have purchased 3 Chest piece engrams and I'm looking to get three of the others as well. If you are 311 LL or above, each engram will guarantee a decrypt at 310 LL and can be used as Infusion fodder for your upgraded item. Three 310 LL items will rank up a 280 LL Exotic to 310. Remember this will cost you 3 ES per item.

If you continue to farm 3oC then save any engrams that drop. Don't believe they will decrypt into any of the new items as a result of the "determined when dropped" aspect of engrams. However, since this isn't a new DLC but rather an unlock of time gated items it may even possibly decrypt into a new items. (Obviously still debatable, but the goal is to get 310 LL infusable items.)

5. Crucible Weekly Bounties / Nightfall Tier Rewards
"Hey, you made it back from a Nightfall! Good! Listen, Shaxx is after me. No, not literally…whole Tower would've heard the gunfire. He banned one of my bookies from the Crucible. So I, uh, made a bet in your name. Don't worry! Shaxx is none the wiser, and I made it up to you. Just talk to Ikora."
― Cayde-6, "Neverending Battle" Quest, Destiny
First complete the Crucible Forged questline for Shaxx and the Faction NPCs. This will open up a series of weekly crucible bounties with Nightfall Tier rewards. The questline only needs to be fully completed on one character for the bounties to unlock on all your characters. It should be easier since Bungie revamped the questline in their latest update.

Next, once Bungie announces the release date for the new exotics complete all 5 of the weekly but only turn in 4. You will be left holding one completed bounty and one bounty with 4/5 progress. Turn in the 5th bounty after the release patch has been pushed through.

DO NOT hand in the 5th bounty prior to that as the Nightfall Reward bounty is calculated once the 5th bounty is turned in.

This will give you three chances, once per character, to quickly attain any one of the new exotics. If you are not great with crucible and are struggling to complete all the bounties per week, you can stagger the bounties over multiple weeks. You do not lose progress and sometimes you'll find different bounties / easier bounties to complete.

Obviously, you'll also have three more chances by completing the regular Nightfall as well.

6. Motes of Light (MoL) and Armor Materials (AM)
"Ahhhh, I see... Perhaps a rare relic from the Golden Age!"
― Master Rahool, Destiny
Save your MoL to rank up your new gear and weapons once you get them. On average, you can earn about 100 MoL every 3-5 days. You can save about 300 MoL. All excess MoL should be going to your desired faction to get more SC.

Also, complete as many bounties on as many characters as possible during this time. This will be a quick way to get a lot of MoL and SC. If you have limited time, target specific bounties that are easier and less time consuming.

Finally, if you are a person who is always running low on Armor Materials then it's best to start saving. It will cost a minimum of 30 AM per class item to infuse up to 310 LL.

This guide might missed out on some things. If you have something to add, please do add it by going to the comment box below. 

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Credits: Special thanks to iylegacy for the guide.