Where to Find Coin Auctions

Coin auctions provide many benefits for buyers and sellers of coins. An auction can give a buyer a great deal on an uncommon coin he needs to complete a series or collection. Sellers can benefit from a wider audience bidding against each other to claim a great coin. Coin auctions are found online, through coin dealers and at auction houses.

Online

Online auctions are typically used when coin collectors are starting out. They want to get better grades of the coins they have or find uncommon dates to fill in their collections. Sellers benefit from online auctions by opening up the opportunity for people around the country or around the world to bid on the item. With all online auctions at eBay or another online auction site, it is buyer beware. There are known counterfeits of many rare U.S. coins that could fool anyone but an expert.

Dealers

Coin dealers are a great asset for finding coins to purchase, assisting with grading coins and finding the right buyer for a coin you want to sell. Many coin dealers know what type of auction or private investor will pay top dollar for the coin. Dealers can assist you with finding the right auction house or suggest using an online auction site.

Auction Houses

Buyers and sellers can also work directly with an auction house to get what they need. Buyers can get a schedule of coin auctions that usually feature pictures of the higher quality items going up on the auction block. Sellers who have a desirable coin or coin collection to sell can benefit from working with an auction house. The auction house will provide plenty of advertisement for the auction and knows where to target these advertisements for interested buyers.

Potential

Auctions provide the potential of bringing in a high price for uncommon and high grade coins. Sellers need to be actively involved in the auction process to understand where the auction needs to be advertised, how long to keep the coin on an online auction and the average price that a person would pay for any particular coin. It does take a little research, but sellers can easily find the best type of auction to participate in.

Warning

If you are just beginning an investment in collectible coins, be aware that there are many auctions that will not label the coins with grades. If you cannot see the coin itself, such as at an auction house or community auction, you will have to rely on the photographs provided by the seller. Buyers will need to create a budget before attending an auction so they know what they are willing to spend on that rare coin.

References

• Coin Buying Advice
• Alderfer Auction Company