Coin Collector

WORLD VIEW Coin Collector | 14 | www.allaboutcoins.co.uk VIEW FROM THE USA BIDDING AT AUCTION Despite the daily distractions of the news, rare coins are still trading hands, writes US coin expert Jeff Garrett, as he assures us the rare coin market is still alive. So now’s the perfect time to start finding out more about bidding for coins at auction A s I write, most rare coin professionals and collectors around the world are sheltered in trying to weather the coronavirus. Most are still connected to the world via the internet, so the rare coin market is still alive! Bullion and any coins remotely bullion related are flying off the shelf. Most dealers around the world have exhausted their physical supply of precious metals. The premiums for silver are off the charts, and silver bars are harder to find than toilet paper! Despite the daily distractions of the news, rare coins are still trading hands. Stacks Bowers bravely conducted a major auction last week that was for all practical purposes, devoid of floor bidders. One determined collector reported that only about half a dozen bidders actually attended the main sessions of the auction. Despite this fact, bidding online more than made up for the lack of live bidders. In general, prices seemed very firm considering the circumstances. Dealers and collectors were still paying strong prices for attractive coins, especially ultra-high grade coins that would boost registry set rankings. The final offering from the Pogue Collection sold for very strong prices, with over $9 million realised. Next up will be the Heritage Central States Auction in a few weeks that will most likely be conducted under similar circumstances. For now, anyone who is trying to buy or sell rare coins, auctions remain an important venue. Bidding at auction For anyone who has not participated in a major rare coin auction, the whole process can be a bit intimidating. If you are determined to view lots in person regardless of the risks, the auction companies will do their best to accommodate you if possible. This will obviously depend on the state and venue. Hopefully, these restrictions will be behind us all in the coming weeks or months. The following advice for bidding at auction is more geared to “normal” course of business, but the information about online bidding is now extremely relevant for us all.