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Advice On An Auction This Weekend.

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wlmongold's Avatar
United States
4 Posts
 Posted 07/01/2012  2:38 pm Show Profile   Bookmark this topic Add wlmongold to your friends list Get a Link to this Message Number of Subscribers

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
Pillar of the Community
United States
3184 Posts
 Posted 07/01/2012  3:18 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
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
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vermontensium's Avatar
United States
16679 Posts
 Posted 07/01/2012  3:26 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
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
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The_Duke's Avatar
United States
1745 Posts
 Posted 07/01/2012  4:07 pm  Show Profile   Bookmark this reply Add The_Duke to your friends list Get a Link to this Reply
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.

Valued Member
dooly's Avatar
United Kingdom
348 Posts
 Posted 07/01/2012  4:21 pm  Show Profile   Bookmark this reply Add dooly to your friends list Get a Link to this Reply
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
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Jaobler's Avatar
United States
6384 Posts
 Posted 07/01/2012  8:09 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
$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.
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argentum's Avatar
United States
1195 Posts
 Posted 07/02/2012  01:15 am  Show Profile   Bookmark this reply Add argentum to your friends list Get a Link to this Reply

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
Valued Member
StashTreasure's Avatar
United States
234 Posts
 Posted 07/02/2012  02:35 am  Show Profile   Bookmark this reply Add StashTreasure to your friends list Get a Link to this Reply
I wish they had auctions around here all well try your best.
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wquinn's Avatar
United States
2295 Posts
 Posted 07/02/2012  12:53 pm  Show Profile   Bookmark this reply Add wquinn to your friends list Get a Link to this Reply


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.
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