Hobbies And Interests
Instructions
Buy and Sell Coins at Online Coin Auctions
Become familiar with the various online coin auction sites you can use. There are more out there than you might expect. Acoin.com has a comprehensive listing of the online coin auction sites available today (see Resources below). The listing even includes a little review of each site to help you decide which ones to use.
Jump into the vast and exciting world of eBay (see Resources below). While not strictly a coin auction site, eBay is nonetheless a prime mover of coins on the Internet. Searching eBay is an easy way to find out what coins are currently being offered for sale and for what price.
Try Teletrade (see Resources below). Teletrade has been around since before the Internet became popular and has since moved its telephone auctions onto the Web. They hold two online coin auctions a week and are well-respected and trusted in the coin collecting community.
Decide in advance how much you are willing to spend. This is a good rule of thumb if you are primarily a buyer. You do not want to go bankrupt trying to purchase that rare coin you've been chasing. If the price gets too rich for your blood, let it go.
Know in the worth of your coin in advance so you will know the right minimum opening bid to ask. If your coin is particularly rare, you may want to set a reserve price. This means that if the highest bid on a coin at the end of the auction is not as high as the reserve price, you are not obligated to sell the coin.