As much as I hate auctions/buyers fees

[reddirtcoins]

Guess I'll go for the day and see what happens. My guess, everything will go 20-30% over.. like it always does.

http://www.dakil.com/ai1ec_event/oklaho ... ance_id=58

[LooseChange]

Now that's an Auction!!

I'd go, at least with some money, worse case you come home with it.

[pennypicker]

Heck, it would take at least a week to inventory the value of each coin in each auction just so you could make an educated bid.

Ironically the one auction that contained baseball cards was nothing but late 1980's junk commons--but then again its always like that.....

[Engineer]

That stuff was probably left in SDBs

[JerrySpringer]

Multiply that auction inventory by how many jurisdictions in the US? That much junk silver that might sit in safety deposit boxes that might end up again in coin rolls in the years to come.

[currencydebasement]

Every time I see the results of these types of state unclaimed property auctions I feel like I am viewing a small scale, time-elapsed example of the herding + ignorance + greed bubble scenario play out. To be fair I can't make this claim for every last lot because I don't have the time to examine them all, but generally I avoid them and feel I can just hop onto Ebay, or this site, and get similar stuff for 2/3 or even half the price. I get annoyed because I too fall victim to the herd and greed and want to find treasure. Oh well.

[reddirtcoins]

Omg... 3-10 times retail... This is crazy.

[pennypicker]

Every time I see the results of these types of state unclaimed property auctions I feel like I am viewing a small scale, time-elapsed example of the herding + ignorance + greed bubble scenario play out.

In 2011 I attended a small general merchandise auction in Medford, Oregon because they advertised silver coins for sale. Arriving at the auction they had just two common date silver dollars in xf condition inside a glass case with some jewelry. The silver dollars were the very common dates--a '21 Morgan & '22 Peace. The Morgan sold for $78 and the Peace for $73. I laughed to myself as I left the auction and then proceeded to my local coin shop and purchased two xf '22 peace dollars for $28 each

Moral of story: when it comes to silver coins, especially pre-35 silver dollars, there are a lot of ignorant people out there in the general public who think these common date, average circulated dollars are very rare and worth a lot of money.

[reddirtcoins]

Just saw 150 class rings go for 19500
Yes 19500...

[reddirtcoins]

Wow
A 1 oz gold eagle just went for 3000... crazy

[NDFarmer]

Omg... 3-10 times retail... This is crazy.

Yup that's why I have pretty much quit going to coin auctions unless I want a few good laughs. I can buy better quality coins much cheaper at my LCS or here on Realcent. I too have seen $30.00 Morgans sell for $90.00 many times.

[messymessy]

Omg... 3-10 times retail... This is crazy.

We should all send our excess coins to Frugi for a consignment auction. Heck, we should buy up lots of coins and silver at our LCS and send it to Frugi.

Auction prices have been crazy for a while. I figured they would have calmed down by now.