Viewing auction lots

Longacre

Thanks for the advice in my thread below about attending a coin auction. Just curious-- how does one go about viewing the auction lots?
1. Do you need to register in advance, or do they have a room set up (similar to a bourse) and you ask for coins to view?
2. Is there any time limit or number limit that you can look at?
3. Can the auction company tell that you are "just looking" and therefore taking up valuable time of a "real buyer"?
4. How much time should I spend in there?

Any other advice would be great.

Placid

If you go to Heritage's web site they list the dates and times you can view the coins that will be auctioned.

2004 July New York, NY Signature Sale - New York, NY. Signature Auction #320.
Main Exhibition of Lots
The Roosevelt Hotel
45 East 45th Street
New York, NY 10017

Sunday, July 18, 2004 • 12pm-7pm • Vanderbilt Room
Monday, July 19, 2004 • 8am-7pm • Vanderbilt Room
Tuesday, July 20, 2004 • 8am-7pm • Vanderbilt Room
Wednesday, July 21, 2004 • 8am-7pm • Vanderbilt Room

Just show up and they will let you look.

rays

<< <i>Thanks for the advice in my thread below about attending a coin auction. Just curious-- how does one go about viewing the auction lots?
1. Do you need to register in advance, or do they have a room set up (similar to a bourse) and you ask for coins to view?
2. Is there any time limit or number limit that you can look at?
3. Can the auction company tell that you are "just looking" and therefore taking up valuable time of a "real buyer"?
4. How much time should I spend in there?

Any other advice would be great. >>



1. No. You can register in person at the auction. If you are unknown to the auction company, you may have to post a deposit to bid.
2. You can look at all of the lots if you want to. You can even look at some lots more than once. There is no time limit, but keep in mind there are others who wish to view the same lots and be reasonable. The lots come in boxes, typically 50 or so each box.
3. No.
4. I try to look at as many lots as I can in the series I am interested in. It only takes 10 seconds or so to look at a slabbed coin, even if you don't intend on bidding on that particular lot. Lot viewing is very educational. You get to see a wide variety of coins in a given grade and get a feel for what's high-end, typical and overgraded junk. Compare the prices realized to your notes to see how the market agrees with your assesments. Typically I devote an hour or so to lot viewing. It depends on the size of the auction.

kranky

When you go to the viewing, ask to borrow a catalog. You'll need that to know what coin is what lot number. As the coins are in boxes, you indicate on a form they'll give you what box of coins you want to view. The boxes are identified by the range of lot numbers contained in it, and that's why you need the catalog. Without it, you have no idea what coins are in "box 40: lots 850-899". As long as you aren't taking forever with a single box, you can stay as long as you want.

When you are done with a box, they will verify all the coins are there, and then give you the next box you requested that's not being used by someone else.

You said you are doing gold. There may be an index in the back of the catalog so you can tell US Gold is lots 1210-1450 or whatever. If there is no index, you have to browse the catalog. If the auction has multiple sessions, look at the catalog section for each session because there can be overlap (i.e. $20 saints could be offered in more than one session).

RYK

Lot viewing is the "free lunch" in numismatics. You can spend as much time as you want, allowing you to see and learn a lot and hold some great coins that you would otherwise not be able to get close to. It's great fun! If you are not known to the auction company, it is my experience that they still treat you fine.

dorkkarl

minor bit o' advice - i often find myself stuck viewing lots for hours on end. eat BEFORE you view the coins (uh, not during....), otherwise, you might get tired & make a mistake grading, etc.

K S

Barry

Karl,
Do you wear gloves when you hold a slab? I can't imagine you'd want to touch one...

dorkkarl

nope. look for the guy using tongs. that's how you'll recognize me.

K S