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IRS auction 10-01-14
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<p>[QUOTE="BigTee44, post: 1996635, member: 41883"]Yea after reading the article with the auction it sounds kind of confusing. So they're going to sell the coins in lots first, then try and auction them 1 by 1, and whoever pays the most(either way) wins.... so they're auctioning everything off twice?</p><p><br /></p><p>"Inventory Note: The items will be offered first in the aggregate and then as individual lots and will be declared sold by the method that receives the highest bid amount."</p><p><br /></p><p>If there's seriously "thousands of gold and silver coins" that's going to be a LOOOOOOOOONNNNNGGG auction if they go one by one.</p><p><br /></p><p>If you get there and they have a list of each coin, one by one, I'd obviously look for keys, but I'd also look for commons in high grade. If you can get them at opening bid(95% spot plus 20%BP) you can get a nice high grade looks like double eagles for 15% over melt. </p><p><br /></p><p>I'd personally go just to see what exactly is for sale. Sure it might all be junk silver with no numismatic value, but you never know. Maybe some of those pre 65 silver halves are Bust or Seated coins... if those are nice and you can get a good price near spot... it'd be a no brainier.</p><p><br /></p><p>Obviously the listing doesn't help the cause, but if you don't go you'll never know...</p><p><br /></p><p><br /></p><p>Peter has some great advise above![/QUOTE]</p><p><br /></p>
[QUOTE="BigTee44, post: 1996635, member: 41883"]Yea after reading the article with the auction it sounds kind of confusing. So they're going to sell the coins in lots first, then try and auction them 1 by 1, and whoever pays the most(either way) wins.... so they're auctioning everything off twice? "Inventory Note: The items will be offered first in the aggregate and then as individual lots and will be declared sold by the method that receives the highest bid amount." If there's seriously "thousands of gold and silver coins" that's going to be a LOOOOOOOOONNNNNGGG auction if they go one by one. If you get there and they have a list of each coin, one by one, I'd obviously look for keys, but I'd also look for commons in high grade. If you can get them at opening bid(95% spot plus 20%BP) you can get a nice high grade looks like double eagles for 15% over melt. I'd personally go just to see what exactly is for sale. Sure it might all be junk silver with no numismatic value, but you never know. Maybe some of those pre 65 silver halves are Bust or Seated coins... if those are nice and you can get a good price near spot... it'd be a no brainier. Obviously the listing doesn't help the cause, but if you don't go you'll never know... Peter has some great advise above![/QUOTE]
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