BWCC2 coin collecting auctions (PDF) by chengtaisoon

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									Coin Collecting Auctions: Bane or Boon?


If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions or
bidding.


Coin auctions provide the best ways to obtain coins that have remarkable values. Coin auctions are the
primary source of rare coins because most rare coin collectors want to sell their treasures to the highest
bidder.


Unlike the typical way of selling and buying coins, coin auctions entail some rules and regulations for both
the bidder and the seller that they must adhere to.


Basically, there are three types of coin collecting auctions. These are:


1. Auctions through mail bidding


In this type of coin auction, the seller will advertise and publish coin auctions through the mail. This is
highly beneficial for people who want to participate in the activity but cannot attend the event personally.


Usually, the seller has a mailing list available and it is used to send catalogs that contain the descriptions and
pictures of the item(s) to be sold. At times it may contain the starting bid amount and other pertinent
information.


The seller’s mailing list, the catalogs, or brochures are sent out to the potential bidders. These lists may also
be sent to those who have purchased from them in the past.


2. Phone auctions


These auctions are conducted by phone. Just like the mail bidding, phone auctions must observe the rules
and regulations that are to be followed.


Once the highest bid is identified, the item goes to the winner. However, there are some instances when
people may ask the seller for an approximate selling price but the rules still remain the same, no disclosure
of previous bids.


3. Online coin auctions
This type of auction is popular because when bidding on a particular coin the bidder is able to see what the
coin looks like. Greater interaction between the seller and the buyer may also be achieved as the seller can
instantly contact the bidder for important information.


The only drawback to this kind of coin auction is that through the Internet, others can deceive a coin
collector into believing that what they see on the screen is exactly the same item that they are bidding on.


All of these things can provide you with the best ways of obtaining the best coins available on the market.
Just try to stick to your bidding budget.




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