Coin Collection – Terms and Conditions of Coin Sale

NCS1To avoid any unpleasant surprises, read the Terms and Conditions of Sale in the auction catalog before you even think about bidding. Be sure that you understand how the sale will be conducted before you place any bids.

When you place a bid in an auction, you’re actually entering into a legally binding contract with the auction house. In cases of dispute, courts look to the Terms and Conditions of Sale to determine what rules to apply when resolving the case. Although most auction houses conduct their business in similar fashion, each auction house has its own Terms and Conditions of Sale, which can be dramatically different from one company to the next. Even if you deal with only one company, its terms may change from one sale to the next. For example, buyer’s fees have averaged between 15 percent and 20 percent in recent years. Although most companies have been very good about announcing all significant changes in their terms, they are not required to do so; the announcement may be a single line buried in the Terms and Conditions of Sale.

Varieties Of Coin Collecting Auctions – Advantages And Disadvantages

us-bullion-eagle-coinsIf you happen to be a coin collector and want to either purchase or buy the coins the best place to go is eurextrading.com or the coin auctions.

The auctions for coin provide a good option to get the coins that have good values. These auctions of the coin are the place where you can get the rare coins and these Coins are purchased by the party who bids for the highest value.

These auctions are also regulated by some rules and regulation. These rules and regulations are for both the bidder and the seller and they both must adhere to the set rules and procedure.

Usually the coin collecting auctions fall under three types of categories. They are the following:

1. Mail bidding auctions

In this type of the auction the seller advertises his coin through the mail and also publishes the coin auction via mail. This has numerous advantages particularly for those who want to be in the bid but cannot be physically present. In this type of auction generally the seller has the catalogs which they send to the prospective buyers. The catalogs contain the pictures and descriptions of the items to be sold. Many a times it also contains the initial bid amount and also other relevant information.

The seller has the mailing list of the prospective bidders and also the list of past buyers and the brochures and the catalogs are send to all these potential bidders.

2. Auctions through Phones

These types of auction as the name suggest are conducted over the phone. Similar to the bidding by mail the phone auctions also is guided by the set of rules.

Once the bid which is highest is identified that coin or item goes to that bidder.There may be some cases where the wining bidder may re-negotiate the price but still the rules of non disclosure of the previous bid remains intact.

3. Online Coin Auction

This type of bidding option is quite popular as the seller can see the coin for the bid. There is greater interaction between the seller and buyer as the seller can quickly get in touch with the buyer and give some important information.However there is a drawback of online bidding. Here the buyer can be duped into believing that what is being shown to the buyer is actually what he will get which may not be the case.

But apart from all these, the auctions mentioned above can get you the coins of your choice. The only thing you should care is the budget you want to allocate for coin collection.

Coin Collecting Auctions: Bane or Boon?

19bgsss_auctions_GV_929458eIf 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.

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