Coins At An Auction?

I'd say be careful at auctions. I have been to some in my lifetime and have seen coins go way over what they should. Either people dont know what the current market values are or there are ringers in the audience driving the price up. Get a good look at the coin in advance, determine what you're willing to pay, and stick to it.

Well said, spoilsport.

He's right, and there's a relevant point to be made there, too. The two coins I presented don't look an awful lot different in terms of grade, but....

The first is a PCGS MS66. The second is an NGC MS62. Both images were borrowed from Heritage Auctions, linked here as a thank-you:

http://coins.ha.com/

There are a great number of different factors which could affect your opinion of grade. Even the ambient lighting in the auction room has a bearing. Nothing substitutes for knowledge - I don't personally agree with either grade in the pics I linked above, but I'm not good enough with Peace dollars to argue the point.

I'm also not good enough with Peace dollars to spend MS66 money on one, even if PCGS says it's so. And that's the point.