Advice On Bidding On Coins On Online Auctions

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Author	Replies: 5 / Views: 1,189
orkneycoins New Member United Kingdom 16 Posts	Posted 11/17/2021 3:10 pm Hi, Relatively new to coin collecting and I am thinking of bidding on an online auction site. Any general advice? Can I assume the auctioneers would have looked at the coins to make sure there not fake? Or do I need to look at the pictures in detail and decide myself? Kind regards Orkneycoins Report this Post to the Staff

westernsky Pillar of the Community United States 7616 Posts	Posted 11/17/2021 3:23 pm Do your homework and know EXACTLY what you are bidding on. Read and understand ALL of the auction company's terms and conditions. If you don't understand something —-ASK QUESTIONS! Make sure you have recourse if anything goes wrong or you receive something that is counterfeit or was not as described. Until you feel comfortable, set a spending limit and stick with it! Good luck! Edited by westernsky 11/17/2021 4:10 pm Report this Post to the Staff
Spence Moderator United States 34397 Posts	Posted 11/17/2021 8:35 pm Quote: Can I assume the auctioneers would have looked at the coins to make sure there not fake? Trust but verify. Probably most of us have been burned at one time or another. "If you climb a good tree, you get a push." -----Ghanaian proverb "The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 11/18/2021 07:26 am Don't do it. Report this Post to the Staff
Cdncoins Pillar of the Community Canada 999 Posts	Posted 11/18/2021 3:41 pm I tend to pick a max price that I am willing to pay for an item then subtract shipping, taxes, buyers premium and whatever other charges sometimes get included (i.e. packaging fee) then that is the price I put in the box. I tend not to win many items this way, but at least I know I didn't overpay. Report this Post to the Staff
tdziemia Pillar of the Community United States 7936 Posts	Posted 11/18/2021 8:49 pm All reputable auction houses will stand behind the authenticity of the coins they sell, indefinitely. This will be stated in the terms of sale. (Added: A European (not UK) auction house with whom I deal regularly uses this statement in their terms of sale: The authenticity is guaranteed unconditionally. However, this is not universal, so you may want to look for this before you place bids) This is NOT true of ebay, however. Otherwise, advice from @westernsky and @Cdncoins is on the money. Do your research on what the coin is worth ... remember that you need to pay a commission (except for ebay) and shipping costs, which can be very high in some cases (as much as $70 US)... set a limit and stick to it. And be prepared to walk away. Most coins will be available again next week or next month. Edited by tdziemia 11/19/2021 08:27 am Report this Post to the Staff
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