Your thoughts on starting bids on auctions.

If it came time to sell the coins I've accumulated during adulthood (I'll never sell grandpa's coins), I would consign them to GC or similar and let them handle it. $1 opening bids wouldn't scare me, because there's enough traffic that I think on average they would all get around market value minus BP. I would just be cashing out for whatever I could get and not worry about it. It was all discretionary spending anyway. If the goal is to "make money", that's a different story of course. But I've seen some of the same minimum bid coins pop up week after week and nobody bids. Same with BIN on ebay. If you can afford to let it sit, that's fine. Similar things apply to real estate. If you list at a pie-in-the-sky price, it sits, then you do a "price reduced" update and it still sits, because buyers have already seen it and have been turned off.

 

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I don't know where you are selling, but almost everything on Great Collections and Heritage starts at a dollar, and nobody worries about them.

 

As a buyer or seller? As a seller, there is a psychology thing to starting at $1.00. It's called FOMO on the buyer's side and I've seen it work well for sellers, but it takes guts if it's truly valuable and at least a week for the auction to circulate on the most eyes.

As a buyer? Nope. I put it on a watch list, make a note to show up in the final 10 minutes, and with 5 seconds left enter my max bid. Of course this is eBay only, I don't know how other online auctions work.