GreatCollections Bidders Being… GreatCollections Bidders: My Auction Adventures and Insights

I’ve spent countless hours bidding on GreatCollections, and let me tell you – it’s pure adrenaline one minute and pure frustration the next. Recently, I noticed something fascinating: while some bidders go wild over popular coins like kids in a candy store, they completely overlook real treasures. Today, I’ll share what I’ve learned about finding those hidden opportunities in the auction world.

The Toned Proof Cent Frenzy

Take Lincoln proof cents – I watched one auction where collectors practically tripped over themselves bidding on them. The 1961 NGC PF66 RB? Sold for just $49.15 including fees when CDN lists it at $5/6.75. Then a PF66 BN went for $76.50 against CDN’s $3/4.10 valuation. What’s funny is how these coins play tricks on your eyes. That gorgeous toning? Tilt it slightly and suddenly it’s just brown or red-brown. I’ve learned to be careful about paying premiums for coins that might only look special from one angle – unless you’re specifically building a toned set.

Hidden Treasures in Plain Sight

While everyone scrambled for proofs, I quietly grabbed a 1924-D ICG AU-55 cent for $57.26. CDN values it at $140/180! Sure, it had some reverse spotting that probably scared others off, but that’s exactly where opportunities hide. Over the years, I’ve developed an eye for these undervalued pieces:

• A toned 1952-D Franklin half in MS-65 went for $41 – CDN says $75/100 – practically unheard of for a coin that usually commands MS66 prices
• A 1952-S Franklin half in MS sold for $52 against CDN’s $70/95, likely because of its toning
• My favorite steal? A gorgeous 1907-S USPI 20 Centavos in AU55 that no one else bid on – landed it for $71.50 when CDN lists $120/155

These wins usually happen when coins are in less popular holders like ANACS or ICG, or when multiple similar lots split attention. As both collector and dealer, I look for coins with solid fundamentals that I can move through my local shop or eBay.

Grading Realities and Holder Biases

Grading makes all the difference in auctions, and collectors definitely play favorites. ICG holders like my 1924-D cent often get overlooked – some folks worry about consistency or spot surface issues. But in my experience? They’re frequently graded right and offer amazing value if you can live with minor flaws. ANACS is another underdog – that AU55 1907-S I mentioned was spot-on accurate. A word of caution though: if you’re thinking of crossing over to PCGS or NGC, remember they might slap a ‘Details’ grade if they detect prior encapsulation. Sometimes it’s better to leave well enough alone.

My Auction Playbook

After countless bids, here’s how I approach these auctions:

• Hunt where others aren’t looking: Skip the toned proof feeding frenzies and focus on older silver or world coins where bidding stays sane
• Imperfections equal opportunity: Toning, spotting or ‘lesser’ holders scare people off – perfect for grabbing deals to resell to budget-conscious collectors
• Timing is everything: Bid during big events like Super Bowl weekend when fewer folks are watching
• Sell smart: My local coin shop takes quick flips, while eBay reaches specialty collectors. That 1924-D cent? Could easily fetch XF money around $100

I always check CDN values before bidding – it’s like having a treasure map. And don’t automatically skip coins with corrosion or toning; they often have great upside if presented right.

Parting Thoughts for Fellow Bidders

GreatCollections auctions reward patience. Those overeager bidders I call ‘bidiots’? They actually create openings for smart collectors. When you focus on substance over sparkle, you’ll find profit whether you collect Lincoln cents, Franklins, or exotic silver like USPI issues. Here’s hoping your next auction brings undervalued gems – happy hunting!