Coin Collecting Auctions: Bane Or Boon?
If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions or bidding.
Coin auctions provide the best ways to obtain coins that have remarkable values. Coin auctions are the primary source of rare coins because most rare coin collectors want to sell their treasures to the highest bidder.
Unlike the typical way of selling and buying coins, coin auctions entail some rules and regulations for both the bidder and the seller that they must adhere to.
Basically, there are three types of coin collecting auctions. These are:
1. Auctions through mail bidding
In this type of coin auction, the seller will advertise and publish coin auctions through the mail. This is highly beneficial for people who want to participate in the activity but cannot attend the event personally.
Usually, the seller has a mailing list available and it is used to send catalogs that contain the descriptions and pictures of the item(s) to be sold. At times it may contain the starting bid amount and other pertinent information.
The sellerís mailing list, the catalogs, or brochures are sent out to the potential bidders. These lists may also be sent to those who have purchased from them in the past.
2. Phone auctions
These auctions are conducted by phone. Just like the mail bidding, phone auctions must observe the rules and regulations that are to be followed.
Once the highest bid is identified, the item goes to the winner. However, there are some instances when people may ask the seller for an approximate selling price but the rules still remain the same, no disclosure of previous bids.
3. Online coin auctions
This type of auction is popular because when bidding on a particular coin the bidder is able to see what the coin looks like. Greater interaction between the seller and the buyer may also be achieved as the seller can instantly contact the bidder for important information.
The only drawback to this kind of coin auction is that through the Internet, others can deceive a coin collector into believing that what they see on the screen is exactly the same item that they are bidding on.
All of these things can provide you with the best ways of obtaining the best coins available on the market. Just try to stick to your bidding budget.
Articles compliments of skaDoogle
Other Interesting Articles
Collecting coins is a hobby that anyone and everyone could do. But collecting quarters is a hobby that - currently Ė it is estimated that one hundred six million Americans do. Men, women, and children of all ages are involved in collecting quar... [Read more]How To Spot An Error In Coin Collections
Spotting errors in your coin collections or maybe in everyday pocket change is easier than you imagine. It's rather profitable and fun too. You just have to follow the different steps carefully a couple of times so that the impulse of checking out every coin you receive will become a habit. These simple instructions are productive and proven methods of locating the different coin errors and varieties of die circulating inside your pockets and other people's poc... [Read more]Coin Collections And State Quarters
Coin collections are getting more and more popular these days. A lot of people are already into collecting coins. You see, this hobby is interesting and can be considered an excellent pastime. If you want to start your very own coin collection and you have no idea where to begin, you should check out the State Quar... [Read more]Is It Safe To Sell Coins To A Dealer?
Coin collecting can be a lot of fun. This hobby which dates back to 2500 BC is much larger now since people are now able to collect currencies from other count... [Read more]Coin Collecting Basics: Your Own Coin Collecting Kit
Coin collecting is not as simple as keeping coins: it may be observed from numismatists or even coin enthusiasts that it is a systematic and somewhat complicated hobby. Certain tools must be employed to ensure both fun, discipline and to some extent, good pr... [Read more]