| Author |
Replies: 15 / Views: 2,116 |
|
|
Valued Member
United States
357 Posts |
So I am going to my first coin auction today. It is listed as an estate sale and have several coins that will be sold. Morgans, Peace, Kennedys, etc. There are some 1800's large cents, 3 cent coins and gold coins listed as well.
Any words of wisdom when it comes to buying at an in person auction?
Thanks!!
|
|
|
|
Bedrock of the Community
United States
94367 Posts |
First auction? Leave your checkbook at home.
|
|
Valued Member
 United States
357 Posts |
@coinfrog - yep - been to many auctions, but this is the first one that I am attending for only the coins. Good call on leaving the checkbook at home!
|
|
Pillar of the Community
United States
701 Posts |
|
|
Pillar of the Community
United States
3170 Posts |
Show up early, to get a good look at the coins before bidding. Good luck!
|
|
Pillar of the Community
United States
3323 Posts |
Easy to get swept along by bidding frenzy if there are multiple bidders. I never jump in early and stick my price in granite. Don't forget to factor in any buyer's premium.
Most importantly - have FUN!
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
|
|
Pillar of the Community
United States
1316 Posts |
Have fun as an observer. Watch others overspend, try not to be one of them. Lol. Remember that for almost everything there, it's not actually all that rare and there is always tomorrow to keep looking for a better deal.
|
|
Bedrock of the Community
United States
20753 Posts |
Want to bet all coins will be sold for outrageous prices?
|
|
Pillar of the Community
United States
3622 Posts |
I agree with the upthread advice. A few other thoughts:  Just because it's in an estate doesn't mean that it's genuine.  Auctioneers sometimes "seed" estate sales with coins, to attract a new group of bidders. Don't assume these really are estate coins. The bulk silver dollars likely came from a dealer's junk box.  Greysheet is your friend. Auction frenzy is your enemy.  Almost anything in an estate sale can be purchased for less at your local coin dealer's shop.  Estate sales feature accumulations. Collections are sold elsewhere.  Be careful what you bid on. You might win it. That said, I buy from estate sales. I have auctioneers who call or text when they have something they think I'd like. (I'm not special. They do this for many others, too, since it drums up business and drives up prices.) I've snagged some decent buys, even if my wife rolls her eyes at some of them. (I'm still in the doghouse for 11+ bags of wheat cents at $100-ish per from an auction. They were the rarest of rarities, actually unsearched and put away in the early 1960s. The problem is now I have to spend hours going through them, when my wife keeps nudging me to finish her honey-do list. That's a price add-on to the auction, for sure.) Good luck!
|
|
Bedrock of the Community
United States
19112 Posts |
|
|
Pillar of the Community
United States
5825 Posts |
Know your max and stick to it -- strictly!
|
|
Valued Member
United States
338 Posts |
I agree with: 1) get there early, 2) take a look and 3) know your max!
|
|
Valued Member
 United States
357 Posts |
Thanks to all for the words of wisdom. Here is the result of my first auction experience. I ended up buying 20 - 1964 Kennedy's and 2- 1864 2 cent coins. I think I got them for a fair price. I believe one of the Kennedy's is a DDO potentially. Working on getting a photos to post up the the errors forum and to the grading forum. It was definitely an interesting process and I am glad I stuck to my price points as I think some people went way over on their bids. 
|
|
Pillar of the Community
 United States
2333 Posts |
Cool...sounds like you had fun! Looking fwd to seeing your finds... smat
|
|
Moderator
 United States
187582 Posts |
Very nice! 
|
|
Pillar of the Community
United States
703 Posts |
Nothing wrong with getting some 90% silver! :)
Looks like you had fun!
|
| |
Replies: 15 / Views: 2,116 |
|