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Varieties of coin collecting auctions advantages and disadvantages

3 Varieties Of Coin Collecting Auctions – Advantages And Disadvantages

If you happen to be a coin collector and want to either purchase or buy the coins the best place to go is via the coin bidding 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.

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