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<p>[QUOTE=&quot;dougsmit, post: 3038890, member: 19463&quot;]I agree 100% on the &#039;tired&#039; part but the fact as I see it is &#039;estimates&#039; are actually &#039;minimums&#039; when the house has announced in the rules that the minimum bid is 60% of the estimate.&nbsp; There are coins estimated at $100 that will not sell because no one wants the coin for $60.&nbsp; Either is better than the idea of posting a $100 estimate but allowing the seller to have a $150 reserve.&nbsp; There are coins that are estimated at $100 that everyone knows will go for much more.&nbsp; Given the choice, I&#039;d prefer the minimums but either way the days of $17.23 bids beating $17.22 are gone.&nbsp; I suspect there were several back then who would append the same number of cents to every bid in the hope that their $.03 would beat my $.02.&nbsp; This made more sense when more people sent in a written bid sheet and had no idea whether they won or lost until the bill arrived a week after the sale.&nbsp; Some people phoned but in those days &#039;long distance&#039; cost money.&nbsp; Someone could write a text on (abnormal?) psychology based on things they saw happen in coin auctions.&nbsp; Some of us met some strange birds.&nbsp; Some of us were......[/QUOTE]</p><p><br /></p>

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