If I employed auction sniping software wouldn’t this result in my paying a very high price for a coin that might not have bid as high otherwise?
Programmed bidding acting as your auction representative will result in higher prices realized when more than one bidder is using this software. In such a case you have multiple sniping bidders trying to outbid each other using automation. When only one bidder sets a high maximum bid and no-one else is willing to challenge the automated counterbids the price for which a coin might sell could be much lower than if two competing bidders are in the same room.
Is there a way an auctioneer can avoid having auction lots sniped?
If an auctioneer allows bidding to remain open as long as there is active bidding this will eliminate or defeat most sniping strategies. At least one coin auction house uses a bid protection function allowing bidders to determine automatic bid increases for a maximum of three increments that will be placed if they are outbid. Bid protection is programmed to work at least as fast as will sniping software.
What is a ‘coin check?’
Coin checks employ Challenge Coins the same way Short Snorter bank notes were traditionally used in a tavern. Someone summons everyone present to hold up their personal Challenge Coin for all present to see. Anyone failing to carry their Challenge Coin or Short Snorter pays for a round of drinks at the bar.
How can I tell if the population report for my coin is accurate or if it involves many crack-out coins resubmitted in hopes of getting a better grade?
The numeric grade alone does not represent all of a coin’s characteristics, such as toning, strike, brightness, color, luster, and attractiveness. Due to potentially large differences in value over slight differences in a coin’s condition, some individuals will repeatedly resubmit a coin to a grading service in the hope of receiving a higher grade.
It has been suggested to me that since it costs the mint more than a cent to make a cent, this is the reason why we can’t take the pre-1982 cents and melt them. What’s the real reason?!
The spot price of both nickel and copper began rising above the face value of the U.S. 1- and 5-cent coins in 2005. In response the United States passed a law making it illegal to melt these denominations for their intrinsic value. It also became illegal to export more than $5 face value in these coins for the same reason.