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<p>[QUOTE=&quot;1865King, post: 7391630, member: 103207&quot;]They do this with the hope that the coin will bring a price above what their minimum price they will take.&nbsp; A reserve being posted can sometimes work against the coin being sold.&nbsp; A lot of people will bid on a coin without a reserve thinking they have a chance of winning it cheap.&nbsp; Then when the coin comes up at the auction the hope is that a bidding war could take place.&nbsp; It&#039;s a competition just like a sport when winning means everything.&nbsp; Why do you think you see some very high prices on coins that have been auctioned off whereas if they simply post a price for a coin on a price list for less than what the coin could have sold at an auction it sits there with no buyers.&nbsp; This is why coins are auctioned and not just advertised on a price list.&nbsp;&nbsp; I am mainly speaking of truly rare or scarce coins.&nbsp; This can be good or bad depending on&nbsp; how you look at it.&nbsp; Also you need to keep in mind that the auction houses are working for the person selling the coin.&nbsp; They don&#039;t work for the bidders.&nbsp; This is why you will never see a coin sold at an auction much below market value.&nbsp; Again I&#039;m speaking of rare or scarce coins.&nbsp;&nbsp; No creditable auction house will sell someone&#039;s coins way below market value.&nbsp; They will loose customers (consigners) real quick.&nbsp; This is one of the reasons I believe you see some very high prices for modern coins.[/QUOTE]</p><p><br /></p>

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