The High Court in Edinburgh heard Craig Wilson, 30, Alan Piper, 26, and Malcolm Amos, 40, were caught during police surveillance on 25 November 2015.
Amos had drugs worth £25,000, which he collected from Piper in a car on Lauder Road, Edinburgh.
As part of the same surveillance operation, police caught Wilson coming out a house in Glen Street, Paisley, with packages worth £175,000.
Advocate depute Derek Ogg QC said all the packages were forensically tested and found to be about 70% pure cocaine, except for one package which was of poor quality.
The prosecutor said Wilson, from Cardonald, Piper, from Paisley, and Amos, from Edinburgh, had no previous convictions, and had "very limited experience of any involvement beyond being couriers".
Judge Lord McEwan deferred sentence until next month.

The 27-year-old Kenyan hit the front with about 300m to go after compatriot Alfred Kipketer sprinted clear on the first lap of the race.
Rudisha finished in one minute 42.15 seconds, ahead of Algeria's Taoufik Makhloufi and fast-finishing American Clayton Murphy.
"I am so excited," said Rudisha. "It is the greatest moment of my career."
Makhloufi ran a new national record of one minute 42.61 seconds and Murphy clocked a personal best of one minute 42.93 seconds in a bizarre race.
Kipketer set out fast, going through the first 200m in just 23 seconds.
But the 19-year-old, who had beaten Rudisha in the Kenyan national trials, faded to finish seventh in Rio.
"Running 1:42, it's just fantastic," added Rudisha. "I had no doubts before. The feeling in my body was good. It is great to win such a big competition."
BBC Sport's chief sports writer Tom Fordyce in Rio:
"He is the greatest 800m runner of all time and he may also be the nicest man in his sport. Rudisha may not be at the same holy level as that unforgettable night in London, but he remains both a joy to watch and an unstoppable force.
"After the injuries he suffered after 2012 - missing the worlds in 2013, requiring a serious knee operation less than two years ago - this victory was never preordained. He just makes it look that way."

Polling stations opened at 07:00 BST and closed at 22:00, with more than 850,000 people eligible to vote.
Counting is due to take place on Friday, with results expected throughout the day, Surrey County Council said.
Twenty one councillors are not standing again - more than 26% of the council.
Across England, Wales and Scotland, voters will have their say on a total of 4,851 council seats.
There are also eight mayoral elections, including elections in six new "combined local authorities".

Aged between five and 13, they appeared to have drunk a bottle of pesticide, officials say. Police have not ruled out suicide.
The parents of the three girls and a boy had reportedly left the village, near Bijie city, in search of work.
The area is one of the poorest in the country and has seen previous deaths of abandoned children.
Chinese state media report that the mother of the four siblings left three years ago, followed by their father in March.
The children had reportedly dropped out of school a month ago, according to the Xinhua news agency. It added that their only food was corn and preserved meat.
The mass urban migration of Chinese parents looking for work has led to millions of children being left behind in villages; many of them are cared for by grandparents.
Correspondents say that such children can be highly vulnerable.
Three years ago there was a national outcry after five abandoned children died in Bijie.
The children had suffocated inside a rubbish bin where they were sheltering, after apparently lighting a fire to keep warm.
Chinese officials have said that at least 80 million people live below the poverty line, surviving on less than $1 (Â£0.65) a day.
Three men have admitted transporting cocaine worth about £200,000.
[NEXT_CONCEPT]
David Rudisha became the first athlete since New Zealand's Peter Snell in 1964 to retain the men's 800m Olympic title.
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Counting has begun as polls for the local elections in Surrey closed, with all 81 seats on the county council up for grabs.
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Police are investigating the apparent pesticide poisoning of four abandoned siblings in rural south-west China.