Advice On An Auction This Weekend. - Coin Community Forum

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Author	Replies: 8 / Views: 1,420
wlmongold New Member United States 4 Posts	Posted 07/01/2012 2:38 pm Im new to coin collecting and I'm going to my first auction this weekend. I included a list of some of the coins up for bids. I've previewed the coins and they all seem to be in the vf to xf range according to the photograde software. I spoke to the auctioneer and he said they tend to go around $40 a piece. I have a budget of around $300 and am wondering what I should focus on. Any advice really would be of great help. Thanks a lot. 1. 1885-O Morgan Dollar 2. 1889-O Morgan Dollar 3. 1891 Morgan Dollar 4. 1881-S Morgan Dollar 5. 1882-O Morgan Dollar 6. 1883 Morgan Dollar 7. 1885 Morgan Dollar 8. 1887 Morgan Dollar 9. 1889-O Morgan Dollar 10. 1901-O Morgan Dollar 11. 1921 Peace dollar 12. 1893 Barber half dollar 13. 1898 Barber half dollar 14. 1905 Barber half dollar 15. 1941 Walking Liberty half dollar 16. 1945 Walking Liberty half dollar 17. 1876-CC Seated Liberty dime 18. 1897 Barber dime 19. 1908 Barber dime 20. 1912-D Barber dime 21. 1914 Barber dime 1893 Columbian Expo Coin Report this Post to the Staff

mkman123 Pillar of the Community United States 3184 Posts	Posted 07/01/2012 3:18 pm why don't you buy from collectors here or go to coin shows? 40 a piece is too high and I've heard horror stories of fake coins from these auction places Report this Post to the Staff
vermontensium Moderator United States 16679 Posts	Posted 07/01/2012 3:26 pm Unless you know what you are doing, grading & FMV, I would avoid...especially if you can't handle the coins. I would not trust what they say. swcoin.ecrater.com Report this Post to the Staff
The_Duke Pillar of the Community United States 1745 Posts	Posted 07/01/2012 4:07 pm I have been to many coin auctions. Once you determine it is a coin you will bid on and the grade, determine your max bid. Determine the max bid based on silver price in this case. See if you can get silver coins around the price of melt. Don't ever buy anything you haven't seen or don't know anything about. (I have learned this the hard way). Be patient, I have sat through 400 lot auctions and only bid on a handful and of those, only won a few. Don't get caught up in the frenzy and have fun. Report this Post to the Staff
dooly Valued Member United Kingdom 348 Posts	Posted 07/01/2012 4:21 pm Hi I do lots of coin auction in the uk .. and I would recommend you go and view the coins put down you "guestamate" on the grade of the coin and what you think it should go for then sit through the lots and write the prices down they make come home and check online or in your reference book to see how good you are .. and remember there are always underlying tactects at auctions .. some people just bid on stuff to stop there enemy getting it or bumping the price up when they see "new blood" so you spend up before they get to the lots they are after.. and many more things like that... and your $300. put it away for the next sale and you will have extra money for the next sale and have a bit more knowledge about how that auction works Report this Post to the Staff
Jaobler Pillar of the Community United States 6384 Posts	Posted 07/01/2012 8:09 pm $40 for any Barber half dollar in problem-free VF to XF is an excellent price; buy all you can! The 1921 Peace dollar is also a great deal at $40. However, I'd expect the actual price for these items to be significantly higher. The Morgan dollars listed are common dates and $40 each in circulated grade is too high. An XF 1876-CC dime is a deal at $40. The other coins are all worth much less than that amount. In any case, good luck! If you win any lots please post photos and prices paid. Report this Post to the Staff
argentum Pillar of the Community United States 1195 Posts	Posted 07/02/2012 01:15 am Quote: ...go and view the coins put down you "guestamate" on the grade of the coin and what you think it should go for... It can't hurt to bid up to that guesstimated value, just keep a cool head and don't go over. I'd do that and *expect* to get bid out, and would be shocked if I won. Edited by argentum 07/02/2012 01:45 am Report this Post to the Staff
StashTreasure Valued Member United States 234 Posts	Posted 07/02/2012 02:35 am I wish they had auctions around here all well try your best. Report this Post to the Staff
wquinn Pillar of the Community United States 2295 Posts	Posted 07/02/2012 12:53 pm Look up and write down the approximate value of each one, so you don't overbid. It is easy to do that in person, a lot easier, than online. Good luck and let us know how it goes. The CC dime sounds like a coin to go after, if it is in a nice grade. Check to see how badly scratched they are. There could be a lot of cleaned coins, which would drop their price significantly. Unless it was a well known auction house dealing in coins, I would be very cautious. If they know nothing about coins and won't back up their authenticity on them, then I wouldn't even bother to go. Report this Post to the Staff
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