Top 5 Fascinating Facts About Coin Auctions!

Coin auctions have gotten complicated with all the online platforms and hype flying around. As someone who’s attended dozens of them — both in person and from my couch — I learned everything there is to know about how these events actually work. Today, I will share it all with you.

Here are five things about coin auctions that still blow my mind:

**1. You’re bidding on actual history.** I picked up a worn Roman denarius at my third auction for about $40. Nothing crazy expensive, but holding a coin that someone used to buy bread two thousand years ago? That never gets old. Every lot in a coin auction carries that kind of weight, from Civil War era tokens to colonial Spanish reales.

**2. The prices can get absolutely insane.** The 1933 Saint-Gaudens Double Eagle sold for $7.59 million back in 2002, and prices have only climbed since then. Most of us aren’t playing in that league, obviously, but knowing that a single coin can fetch millions puts the hobby in perspective. Even “modest” rarities regularly go for five or six figures at major auctions.

**3. These events draw people from everywhere.** I sat next to a guy from Hong Kong at a Heritage Auctions event in Dallas once. He’d flown in specifically for three lots. Major auction houses like Heritage, Stack’s Bowers, and Künker (based in Germany) attract bidders from dozens of countries. It’s a genuinely global market.

**4. You can bid online in your pajamas now.** Probably should have led with this section, honestly. The biggest shift in coin auctions over the past decade is how much has moved online. Sites like Heritage Auctions and GreatCollections let you browse, research, and bid without leaving home. I’ve won some of my favorite pieces at 11 PM on a Tuesday while watching TV.

**5. You don’t need deep pockets to participate.** A lot of people assume coin auctions are only for wealthy collectors, but that’s not true at all. Plenty of lots start at $5 or $10. I’ve seen interesting world coins, old wheat pennies, and even some decent silver go for pocket change. The expensive stuff grabs headlines, but the bread-and-butter lots are totally accessible.

That’s what makes coin auctions endearing to us collectors — you never know what’s going to show up or what you’ll walk away with. If you haven’t tried one yet, start with an online auction and set a firm budget. You’ll be hooked after your first win.