Even though rare coin auctions are generally vehicles for marketing more obscure, rare coinage, many of today’s mainstream precious metals investors are gaining interest in these functions. Hopeful individuals scan these online and live events in the hopes of finding an array of rare, investment-grade treasures at a bargain price. Most “in person” rare coin auctions are silent, with bids being submitted in writing over the course of six to eight hours per day. Some clearinghouses even allow bids by telephone, and even by text messaging. However, the rarest of the rare can also be auctioned off in the traditional manner, complete with an authentic rapid-fire auctioneer, for greater media coverage and public turnout.

To submit a rare coin for auction, the respective owners are required to deliver the coins to the auction house at least 48 hours before the auction is to be held. Other requirements include digital copies of each coin, as well as proof of authentication and ownership. If one wishes to purchase rare coins through such an auction, schedules are available via the Internet for personal appearance.

Rare coins are also available through online clearinghouses, and in these forums, the seller privately maintains possession of the items until the auction closes.

There have been some attractive opportunities on eBay as of late, but fast action is required, as bids can jump dramatically in the closing moments of the auction. Those who wish to play their finances more “close to the vest”, may want to buy rare coins through a secure online platform, where the price of the coin is frozen up front.

Shawn Penny