Why Online Auctions Can Be So Rewarding for a Coin Collector

Last Updated on September 29, 2020 Posted by Colonial Acres Coins

For individuals who have the enthusiasm and some knowledge, Canadian coin auctions can be a rewarding and lucrative experience. The numismatics market, otherwise known as coin or paper money collecting, has been growing, with trends ranging from the collectible coin market below $500 to semi-key coins and rare finds. Regardless of whether you’re collecting as a hobby or investment, here is some valuable information to help you get started or improve your success with online coin auctions.

How Online Coin Auctions Work

Online auctions open the marketplace to consumers from around the globe. You can find virtually any coin you’re looking for and compare pricing, no matter where you are. As you plan to bid for coins at Colonial Acres Auctions, make sure to complete the bid sheet. It should contain all lot numbers that hold your interest and the bid amount.

If you are new to the numismatics market, consider joining coin collector forums with experienced collectors. They can provide a wealth of knowledge and support as you begin your journey into coin collecting. Take time to research the auction houses and pay close attention to each auction’s terms and conditions. Sometimes there is a deposit required when you register to bid.

Coin dealers typically have significant expertise in the industry. They may know the history of the coins and many pieces of related information. Although they are generally more than happy to share their knowledge, they are not investment counsellors. Chances are they will not discuss the investment potential of a piece or set. Having a general understanding of current market conditions and coin grading can help you learn about the series you decide to collect.

Tips for Canadian Coin Auctions

Reputable online auction venues can be a fun way for collectors to expand their collections. Here are some tips to help make the experience a rewarding one:

Before bidding on an item, read the seller’s full description and terms so that you understand return policies, payment options and shipping charges.
Be cautious of sellers who claim they know nothing of the coins they are selling or if the items allegedly came from an inherited estate. This is often a way to refute knowingly selling low quality or counterfeit coins.
Check the feedback records of sellers. Some indicate they are novices but have been selling coins for months or years.
Beware of sellers who have no mention of an attribution unless they are willing to offer a reasonable return policy that allows winning bidders time to verify the coin attribution.
Be wary of sellers who either do not provide a clear image of the coin or use stock photos. The piece or series you receive will not necessarily be the one you thought you bought.
If an item seems too good to be true, it probably is. Many people who rush forward hoping they are getting an unbelievable bargain get burned.

There are many reputable online and on-site auction houses. Learning how they work, their return policies and payment options can help you decide which is a good choice to expand your collection with quality pieces.

Items Available at Colonial Acres Auctions

Colonial Acres premier numismatic auctions showcase unique items, including tokens, key date decimal coins, paper money and spectacular examples of error notes and coins. Currency available through Colonial Acres includes:

If you are looking for stocking stuffers or gifts for young collectors or a special person in your life, we carry a broad range of unusual items from vintage and antique jewellery and coin year sets to jewellers’ loupes and specialty coins. Contact us to learn more about our auctions and view the lots available for bidding and some unique deals.