Coin auctions - a great way to find bargains and rarities

Buy or sell coins online at these sites:

Coin auctions are a simple way to buy and sell coins, and with a variety of ways to bid it’s very easy to build up your collection. Most prestigious coin auction houses host specific online auctions as well as bidding by phone, fax, mail and email.

Buying at coin auctions online can be a cheap and easy way to increase your coin collection or sell off unwanted coins. On auction sites you can view lots to be sold in upcoming auctions, get close up views of the coins, and find detailed descriptions of history and condition of goods. You will have to register for an ID code to bid and get pre-approved credit before you can take part in any auction. This credit normally takes a couple of working days to receive, so make sure you do it in advance of the auction you’re going to be bidding in.

Coin auctions on eBay

It’s easy to buy and sell coins on the world’s most popular auction site, eBay. The site has thousands of specimens available for purchase, including US and world coins, bullion and military offerings. Buying on eBay is a good way to browse and build up a collection quickly and cheaply, but it does also have its restrictions. There’s little or no information about the lots you would be buying. It is possible to view competing bids, how long the lot has been for sale, where it is located and where it can be shipped to. Heritage Galleries and Auctions also offer coins as well as other collectibles at auction.

Coin auctions with Bowers and Merena auction house

Bowers and Merena is a prominent coin auction house based in Irvine, California, with bidding available through their website. The house specializes in rare coins for sales between collectors, dealers and museums. It has handled four of the United States’ five most valuable collections ever sold, including those of Louis E. Eliasberg Sr. ($44,900,000) and Harry W. Bass Jr. ($38,000,000).

Important things to remember when buying coins at auction

The most important thing to consider when buying at coin auctions is to know how the system works. Different auction houses have different rules and these can vary quite widely. Some, for instance, offer no fees to either buyer or seller; others charge both the seller and the buyer for the transaction. If these lots are sold through a secondary website there are additional charges payable.

The speed of your internet connection can affect your chances in a live online auction. Bids are taken on a first come, first served basis, and a slow connection may mean you lose out on that crucial bid.

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© The Pink Fridge Online Magazine 2009 - Coin Collecting UK

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