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<p>[QUOTE=&quot;beef1020, post: 1684805, member: 24544&quot;]I have had the same experience medoraman.&nbsp; </p><p><br /></p><p>The local weekly coin auction is done by an auctioneer who has a relationship with the local coin shop.&nbsp; All the coins sold at auction come from that shop, and I assume they both split the profits.&nbsp; I tried a couple times to get coins into the auction and was very disappointed by the results.&nbsp; On two occasions he flat out told me he would not accept the consignment.&nbsp; On the other two occasions, he charged a high commission, did none of his normal promotion on my coins, and sold them in a group lot at the end of the auction.&nbsp; It was pretty clear he was encouraging me to stop messing with his business...</p><p><br /></p><p><br /></p><p>Likewise the common junk sells for a premium to people who do not know better, or get caught up in the auction, while the very rarely offered gems (don&#039;t know how they got in) sell for much less than they are worth.&nbsp; I went to this particular auction for a a couple months before I realized it was a waste of time.&nbsp; During that time I did happen to pick up a 1983 DDR cent in PCGS MS63 for around $50, sold it on ebay for $200 a week later, but it was the only coin like that, everything else was just common date low grade stuff.[/QUOTE]</p><p><br /></p>

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