I think I am going to go to my first auction next week. It is a unclaimed property auction at the Il state fair. Almost all the lots are coins with a couple of key dates being offered including a PR-35 flying eagle cent. What tips do you have for a first timer? Sent from my A463BG using Tapatalk
I plan on it there are only a couple lots I would be able to afford. It will be cool seeing what the flying eagle goes for. I also saw they are auctioning off a PCGS PR-65 J-352 pattern that hold the record for that pattern type. Will be cool to watch and see if there are enough high quality bidders to push it over $10,000 Sent from my A463BG using Tapatalk
Unless, of course, you are even more bent and determined to get the coin than the other bidder. Good advice, though. Unfortunately, there are some of us (hand raised) who make coin purchases regardless of future resale profit potential. I know I'm not gonna get rich with the coins I collect~!
I hope, but I doubt it. All the lots were displayed at various locations this month. The FE and the Pattern are some of the featured highlights. Sent from my A463BG using Tapatalk
Write down the coins you're interested in, decide the maximum bids in a advance, and stick to them once the live bidding starts. Set a maximum total you'll spend. If possible, take a computer or use your smart phone to keep track of your wins as it goes along. If there's some listed near the end that you really like, you don't want to blow your purse early on. Be careful about catching dealeritis part way through. By that I mean, you've spent the preplanned amount, but decide to keep bidding because you're pretty sure you can sell the extras at a profit. Be especially careful of raw coins. Unclaimed property auctions are not usually run by a coin dealer or coin auction company. It's strictly buyer beware. If a coin turns out to be fake, cleaned, etc., too bad for you; they're not taking it back. Cal
