Things to Keep in Mind When Browsing Coin Machine Auctions
Coin collectors love to drool over auction catalogs. They have tremendous photos of astounding coins and often give valuable numismatic information as well. But there are some things to be aware of when scouring auction listings for the next big find.
The first thing is to be careful about Coin machine auctions and what the value of a coin might be. It is very easy to overestimate the worth of a particular coin or collection. It is also a good idea to know what type of coin you are looking for and understand the differences in value between an original and a replica or a revamped machine.
Watch out for a seller who claims to not know anything about the coin or machine. It is a common way for sellers to hide low quality or even counterfeit items. A quick check of a seller’s feedback will quickly tell you the truth.
Another thing to keep in mind is that a buyer’s premium or commission is usually added on top of the price. This should be noted on the auction page so that the buyer is fully informed before bidding. It is also a good idea to have a set price in your mind for each coin you are seriously considering contending for at an auction. This will prevent you from getting swept up into an auction frenzy that can be as addictive as gambling. If you get caught up in the frenzy, you may end up with more buyers’ remorse than you had when you started.