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<p>[QUOTE=&quot;Victor, post: 652695, member: 5454&quot;]Well I went last night to a rather large general merchandise auction.</p><p>After an hour of sitting through tools, collector plates and Lucy &amp; Desi</p><p>collectibles they started the coins.&nbsp; But I came home with nothing due to a flock of high bidders.&nbsp; They were paying $4 each for presidential dollar coins, $3.50 each for the new 2009 Lincoln cents, $5 a roll for common circulated wheat cents from the 1950&#039;s.&nbsp; The cheapest common date VF Morgan was bid up to $22 and a 1923 Peace dollar in XF was sold for $26.00</p><p>Proof sets were selling for $15 or more, beat up common date Barber quarters were $6 to $7.00.&nbsp; Some of the raw AU Morgans were started at asking prices of up to $200.&nbsp; Many sold at $60 to $75.&nbsp; The auctioneer was calling every coin &quot;rare&quot;.&nbsp; </p><p>&nbsp;&nbsp; &nbsp; I never will understand why people pay so much for common circulated coins.&nbsp; Take for example a 1875 dime in AG-3.&nbsp; The auctioneer starts with saying &quot;Who bids $30 on this dime&quot;?&nbsp; No response.&nbsp; &quot;Who will give $20 for it&quot;?</p><p>No interest.&nbsp; &quot;Now $15 at the bottom&quot;&nbsp; Three hands go up.</p><p>&quot;20, now $25, $30, $32, $34&quot;&nbsp; &quot;Thirty six&quot;?&nbsp; No response. &quot;36&quot;? &quot;36&quot;?</p><p>&nbsp;Sold for $34.&nbsp; But add 10 percent.&nbsp; It went on and on like this.</p><p>Nobody will open the bidding at the suggested price.&nbsp; But when all is said and done the final bid is over the suggested opening price.</p><p>After waiting through more collector plates I left.</p><p>I think &quot;general&quot; auctions are worse than &quot;coin auctions&quot;.&nbsp; The people at the general auctions bid stupid money for common junk.&nbsp; This the 2nd time I went to this auction.&nbsp; Both times I couldn&#039;t touch anything due to excessive high bids on everything.[/QUOTE]</p><p><br /></p>

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