Well I went to a coin auction lastnight. A few years back when I was first starting coins there was an older collector in town that sold his collection and I got to go see it. Didn't have money to buy anything, and had to leave about half way though.... Well lastnight they sold what was left when he died....I still didn't have much money to spend, and prices were higher than ever. At the first auction a buddy of mine bought a 100ounce silver bar for $4/ounce. They sold another one lastnight and it went for over $19/ounce. Gold was selling for anywhere from $800-$850/ounce and some smaller silver bars for $16-$18/ounce. The guy doing the auction didn't know much about coins and he had an OLD red book he was trying to see what was what.....he had missed the S on the back of the 1928 Peace dollar....the 1921 Peace dollar had been cleaned....but then again the guys who were bidding had at least seen that and didn't drive up the price. I think they both went for $16/each. A great price for a 1921 Peace. All in all I would say that the coin market is still going pretty good....at least going with people who don't study what they are buying. Out of all of the bidders there I would say that 90% of them were bidding becasue----Old Money = $$$. I did walk away with a few things.... Got some 1982-S PF Washington Comm's. I paid $3.50 each for them---not a bad price IMHO....and a 1987 Prestige Set for $13. Well I'm on my way to another auction today---doubt there will be any coins though.... Speedy
Good Luck! hope you find some rarity that no1 there knows of I once was in a auction where no1 knew anything about coins and one of the lots was * 1,1kg penny lot so i won it for $25 and inside the lot was a 1925 Penny (Australia) worth about $250 in the condition i found it in There was also some Australian Colonial coins which sold for so cheap but as i was coming back from school and only had $40 on me ... There is one auction next week that i will go to and see if there is any coins that i can grab on a bargain :goof:
Even if there are no coins there Speedy I hope that you have some fun You can allways look out for Paper or Medals LOL
I've never been lucky to find bargains at estate auctions with coins. Usually most bidders know nothing about coins and their true value and assume that because it is old it has to be valuable which usually means crazy over bidding. Last auction I went to there was a cigar box full of lower grade (G/F) common, mostly 1921 Morgans and a few Peace dollars that were auctioned 1 coin at a time. Amazingly, not one single coin went for less than $20, most in the $30-$40 range.
Well what happened yesterday was that there was a ton of coins---people drove up the first bunch of them but then some of the people either ran out of money, or decided not to stay all that long (I didn't get home till 11:30 and it isn't that far of drive). The people who knew what they were bidding on and had the money were wanting the stuff like silver bars, and gold coins. So there at the end was the good prices on coins....and the stuff I got. My dad got some silver dollars for under $13. Speeyd
man i wish i was there i would have bought the whole lot out of course you would have the first crack since yout old me about the auction
