7 Tips on Choosing a Rare Coin Auction House

As a coin collector, you know that auctions are your best path towards not only finding some rare ones, but also towards selling the ones you have for a profit, when you decide to do so. After all, auctions can connect dealers and collectors easily, thus allowing you to get access to some coins that would be unavailable through those traditional retail channels. There is no doubt, thus, that all collectors attend auctions, whether to buy or to sell.

If you’re curious about some of the most expensive coins, here’s a list to give you a better idea about those: https://en.wikipedia.org/wiki/List_of_most_expensive_coins

Okay, whether you are a new collector, or an experienced one, you most definitely understand the actual importance of, well, finding the right auction house when looking to buy or to sell. You know that not all of them are created equal, and that you absolutely have to take some time to find and choose the best one for you, instead of just making a random decision and hoping for the best. After all, if you want to be serious with your collection, and I am sure that you do, making random decisions is never a good idea.

The above, therefore, means that you will have to put some effort into making the right choice here. And, well, this means that you will have to know which steps to take and what to take into account when aiming at making the best choice. If you have never had to make this kind of a choice in the past, or if you haven’t been happy with the one you have previously made, then there is absolutely no doubt that you will need some help along the way.

Well, help is precisely what you will get here. To cut right to the chase, below we will share some tips that should help you choose the right rare coin auction house for yourself. So, keep on reading to find out what you need to know and to get better prepared for the actual process of selecting the right auction house for you and thus starting your collecting journey, buying the coins you want and selling others when you believe it is time to sell. Without any further ado, thus, let us get started.

Search Online

Since we are living in the modern world, there is absolutely no doubt that you will remember to take this first step. That is, to search for these auction houses online. When you come across Gold Standard Auctions and other similar places, you will realize that you can even participate in their auctions online, which makes things pretty easy for collectors. So, take your time to search for potential companies online, and start making your list, so that you can then do some more detailed research and decide which house to partner up with during your buying or selling process.

Get Some Recommendations

Of course, what you can also do is talk to some of the other investors and collectors you know and get their recommendations. Most of them will be willing to share some recommendations regarding auction houses, and to generally talk about rare coin investing and collecting with you, given that most people do this with passion, and everyone loves talking about their passions. The bottom line, though, is that you will possibly get familiar with different auction houses by talking to other collectors, and thus extend your list of potential ones.

Check the Range and Quality of the Offered Coins

Naturally, once you have made that list, you will absolutely have to start doing some more detailed research about the potential candidates. And, there is absolutely no doubt that one of the first things you should do is, well, check the range of the coins offered, so as to figure out if the professionals can actually offer you what you need and what aligns with your particular collecting goals. Furthermore, you should also pay close attention to the quality of those coins, aiming at choosing a house that has a strong selection, thus indicating that it attracts serious and knowledgeable buyers and dealers.

Check Their Expertise

There is no denying the fact that you want your rare coin auction house to demonstrate deep knowledge of a wide variety of coins. Including ancient, medieval and modern ones, as well as precious metals coins and bullions, grading standards and minting history, and, of course, market trends and collector demands. So, check their expertise before making any final choices, keeping in mind that great expertise is sure to be a great benefit both for the buyers and for the sellers.

And Reputation

Unsurprisingly, you will have to check the reputation of the auction houses you are considering as well. After all, you don’t want to wind up working with a shady one that may be looking to trick you in on way or another. Reputation is, therefore, extremely important here, so take your time to check the company’s history, looking for longevity on the market, consistent auction schedules, some mentions in numismatic forums and publications, and similar things. The goal is for you to choose a highly reputable and reliable company, which I am sure you understand already. If not sure whether investing in rare coins is a good idea at all, this page could offer some insight.

Check for Transparency in Listings and Descriptions

Moving on, you want the auction house you choose to be transparent with their listings and descriptions. A reliable and trusted company will always provide detailed descriptions of every coin they are selling. You will get to see clear photos, accurate info regarding diameter, weight and metal content, the condition of the coin, certifications, disclosures of any damage, cleaning or restoration and similar. And, of course, you also want them to be transparent with the fees they are charging for their services.

Evaluate Customer Support

Finally, don’t forget customer support. It should never be ignored. In short, a reliable auction house should always be ready and willing to answer any questions and respond to any queries you may have in a timely and respectful manner.