| Coin auction or bidding comes in handy if you are a | | | | to potential bidders and previous customers. |
| coin collector intending to buy or sell coins. You can | | | | 2. Auctions through phone: |
| obtain coins of remarkable worth in the best possible | | | | As the name suggests, phones are used to conduct |
| manner through coin auctions. The primary source for | | | | this type of auction. Rules and regulations must be |
| procuring rare coins is a coin auction. This is because | | | | adhered to, as is the case with mail bidding. The item |
| majority of the rare coin collectors sell off their | | | | goes to the highest bidder/winner once he is |
| treasure to the highest bidder. Both the bidder and | | | | identified. There are instances when prospective |
| the seller, in a coin auction, need to adhere to a | | | | customers request the seller to disclose an |
| number of rules and regulations, which is quite unlike | | | | approximate selling price. But as a rule, previous bids |
| the typical way of selling and buying coins. Coin | | | | are again not disclosed. |
| collecting auctions are basically of 3 types, which are | | | | 3. Coin auctions online: |
| as follows: | | | | Online auction owes its popularity to the fact that |
| 1. Auctioning with the help of mail bidding: | | | | bidders are able to check out the coins visually while |
| The seller advertises and publishes coin auctions by | | | | bidding for a particular coin. Since the seller can |
| using the mail, in this type of auction. Those who | | | | contact the bidder instantly for important information, |
| wish to participate in the auction but cannot | | | | there is greater interaction between the buyer and |
| personally attend the event will find it to be | | | | the seller. However internet auction has its |
| extremely advantageous. In most cases the seller | | | | shortcoming as well. A coin collector can be deceived |
| uses his mailing list to send catalogs containing the | | | | into believing that he is bidding for exactly the same |
| pictures and descriptions of the item(s) on sale. | | | | item that he gets to see on the screen. |
| Sometimes the starting bid amount and other | | | | If you follow these, you can easily obtain the best |
| relevant information are included in it. The brochures | | | | coins available in the market. |
| or catalogs and the seller's mailing list are dispatched | | | | |