Is there any benefit to attending a major coin auction, even if I cannot afford any of the pieces? I have never been to one before, but I was thinking of attending the auction in NY this week, just to see what one was like. I believe that things move very fast, so I am not sure if I will get anything out of attending, other than watching people bid up the prices. I am going to try to view some of the auction lots in advance to get a better idea of grading, but wasn't sure if attending the auction part is beneficial. Any thoughts?
Sure - there's benefits to attending a major auction. For one thing you'll likely get to see coins you may not ever have the chance to see again. if you have a digital camera - take it - and ask permission before using it to photograph coins. And of course there is the grading knowledge that may be obtained. It is also helpful in getting "your finger on the pulse" of the market. Auctions are perhaps the single best method for doing this. Whatever you do - be sure to buy a Catalog ( it's worth the money trust me ) - and make notes of the prices if you can keep up with them. And oh yeah - have fun !!
I agree with GDJMSP. I have seen and held coins that cost more than my entire collection. I attended some of the auctions at the FUN Show in Florida and was just floored by some the items for sale. People raising their signs (bids) in $500 increments. You have to experience it at least once.
I went to an auction last weekend. A nearby local dealer went out of business... I bought some stuff, but by the pricing on his 2 x 2's - I can see why he went under.
