Are you interested in finding valuable coins but don’t know where to start? You’ve come to the right place! Whether you’ve been wanting to start a rare coin collection or have been collecting for years, coin auctions are the best places to find yourself one of these special treasures.
You may be asking: Are coins worth that much?
Well, in 2013, one silver dollar from 1794 went for $10 million at a public coin auction! Obviously, we don’t all have the luxury of dropping millions of dollars on one coin, let alone having millions to spend. However, historical coins here at Treasures Auctions start at under $20!
Finding a special coin for displaying at home or passing down is well worth the effort of going through a coin auction. But what happens at a coin auction? And where do you start?
We’ll answer all your questions in this guide. First, let’s go over the basics of coin auctions.
Coin auctions, like any auctions, are where people gather to bid on rare coins or coin collections. Each item is sold to the highest bidder, who then makes arrangements with the seller or the event’s host to complete the transaction. Pretty simple, right?
The fundamental purpose of a coin auction is to connect people who are looking for coins, the buyers, with people who are selling their coins, the sellers. The difference between a coin auction and, say, buying a coin from a pawn shop is the variety and diversity.
With coin auctions, sellers and buyers can be from all over the world. Both sides benefit from having more options: sellers have a larger array of products to choose from and buyers have access to a larger pool of consumers.
Another bonus of coin auctions? Convenience! You don’t have to spend hours of time sifting through thrift stores or pawn shops, potentially leaving empty-handed. Instead, the options are laid out for you to choose from.
Alright, you’ve got the low-down on coin auctions, but how do you get started?
As with any auction, the first step is registration. Some auctions only allow specific types of sellers and buyers. Here at Treasures Auctions, we make it our mission to connect Australian buyers with Australian sellers to promote small businesses and local sourcing.
After registering, the search begins.
Do you have a particular coin in mind? Maybe from a specific year or country? See if it’s available by using the search feature!
Just waiting for a coin to catch your eye? Most auctions have coins organised into categories, so feel free to look around until you feel that spark.
If you find a coin you want, you can decide on the amount you’re willing to pay and place your bid. We suggest keeping an eye on the auction coin price after bidding to stay up-to-date with the competition.
Want to amp up the deals and competition? Some coins have no reserve auctions, where the seller doesn’t require a minimum bid amount. With no reserve items, the item must be sold if even just one bid has been placed, which often attracts many potential buyers.
Speaking of being reserved, are you feeling hesitant about participating in a coin auction? Maybe it’s your first time and you’re not sure if the process is worth it. Trust us when we say that coin auctions are less intimidating than they may seem and offer numerous benefits.
You don’t have to be a coin expert or a seasoned auction-goer to join a coin auction. Auctions can be fun ways to channel your inner competitive spirit and come home with a new prized possession.
So, why buy coins at an auction?
One reason to bid on coins is as an investment. With steady inflation and the shift toward a coin and cashless world? Getting more for your coin in the future than what you paid for it is a near guarantee. With gold sovereign coins, for example, you can cash in on the lucrative market for gold investment!
Another reason for buying coins is sentimental and historical value. Many collectors see rare coins as heirlooms to pass down, continuing their own legacy along with the coin’s legacy.
Take the example of the 50 cent silver coins from 1966.
The government blunder of minting millions of 50 cent silver coins before realising the coins were each worth 55 cents is widely known. Only 14 million of the coins were released into the market, so the thrill of finding one and the history attached to it makes the chase very rewarding.
Ready to dip your toes in? The easiest way to start bidding is with coin auctions online. A quick Google search will show you dozens of options, so how do you choose?
Allow us to help you take the guesswork out of finding the best online coin auction sites.
Online coin auctions are booming right now. While you can choose from plenty of different online auction systems, Treasures Auctions is the best choice for Australians.
Here at Treasures Auctions, we prevent overseas sellers from posing as local ones by ensuring all our vendors are Australia-based. Our buyers can trust that their money is helping local small business owners, who account for 98% of the businesses in Australia and provide 44% of our nation’s employees with jobs.
What else puts us above the rest? We have over 1,000 coins to choose from, all of which are verified for authenticity and quality. We’ve been an official Perth Mint Distributor since 2007, and you’ll find prestigious minted Australian metals and coins in our broad marketplace.
At Treasures Auctions, you get the best in coins.
Looking to save some time and grow your collection more quickly? Try our bulk coin auctions! You’ll likely get a better deal than if you were to buy each coin individually over time. That means more coins, less time spent, and more money saved!
Are you hyped up for the coin competition yet? We sure are! Coin auctions are the best way to find great deals on rare and valuable numismatic coins. Whether you’re looking for collector’s coins, historical coins, gold coins, or novelty coins, we’re your trusted resource for coin auctions.
Now that you know all the ins and outs of coin auctions, you’re ready to set your sights on the rare coin, or coins, of your dreams. There’s no better time than now!
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