So new to numismatics and am interested in going to a local auction just to see how things work as I have never been to a live auction of any kind. They post their lots online the week before so people can see what is there. As a base for me to judge on how things go at this auction. What Grade and Value would you give this 1912 S Barber Half
I would tell someone to stay away from a coin with that appearance. The obverse stain will harm its value, make it tough to find a buyer later on and will not go away. Also, there may be a rim ding at about 8:00 o'clock. Otherwise, it appears to be VG8.
I agree...this coin has issues that I would walk away from. This is a common enough coin, a different example could be easily found.
The 1912-S has issues which makes it a hard sell to a collector for their set or as a type coin but, at junk silver the coin is worth about $7.50. The 1906-D has a full rim on the back which makes this coin a G-4 which is worth about $17.00. If you can get both for under $20.00 including any buyer's premium the auction company may have you will come out ahead. Be sure to ask what the auction company's buyers premium is and factor that fee into the amount of your bids. Be careful not to get caught up in the auction and over bid. It is very easy for a first timer to do that. The key is to remain in control of yourself. Write down your maximum bids for the lots you are interested in and do not exceed them. Some local auction companies use phantom bidders (A bidder behind you which does not exist) and/or shill bidders when someone they have not seen before comes and bids so you want to be in a position where you can see who is bidding against you. Not many risk doing this but there are a few that do.
thanks Ed Sims for the help and the warnings. I think I may go to this one and just watch since it is my first one to ever go to. Just to see how things go. They have an auction almost every Saturday and it seems out of the 300 lots or so only 5-6 are usually coins and paper money so I was thinking there is probably not a lot of collectors here meaning I could get a steal on prices for some things. The buyers premium is 10%. Is that normal for auctions? If the bids stay low on these I might chime in and bid but if I see a couple of bidders Ill just sit back and watch how things work.
My first few live auctions I bid only on small items <$10. Made a couple mistakes but I got comfortable with the process. Now I'm very comfortable and my mistakes only added up to a few dollars. Some auctions have a buyers premium, and it shouldn't make a big difference. Like Ed said, just make a list of prices and factor that 10% into your max bid price. Good Luck!
That is a good idea. If you have Saturday's free when they have the auction try and attend on a regular basis. You will soon recognize the regulars, what they are bidding on and how much they are paying for what they want. 10% is pretty much the most that the local auction houses charge if they have a buyer's premium. Good luck at the auction!
