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Some items didn't fetch as much as expected, but the bidding was said to be competitive.
Sunday, April 7, 2013
Saturday’s auction of a rare group of about 600 gold coins, 100 pieces of jewelry and other currency went well, Valley Auctions owner Robert Smith said.
Smith said some of the selling prices were lower than expected, but that buyers and sellers all went home happy.
“And that’s what’s important,” he said.
A 1736 Spanish “piece of eight” coin minted in Lima, Peru, sold for $5,175. Smith had initially thought it might sell for more than $10,000.
A coin minted in Madrid, Spain, in 1772 sold for $2,185, and an American coin from 1890, a seated liberty half dollar, sold for $2,300.
Smith said the 20 American $20 gold pieces all sold for between $1,955 and $2,070. A handful of Roman coins dating as far back as 300 B.C. sold for between $300 and $500, with another one going for $825. A coin minted in Florence, Italy, by the Medici family in 1522 sold for $975.
Smith said about 100 bidders participated online from 18 countries, while another roughly 100 bidders joined in by phone and in person at the Valley Auctions location in Pulaski County.
He said about 200 participants for such a specialty auction was a good turnout.
“They were some of the most educated buyers out there, and a lot of them left without something they had wanted,” Smith said. “They were having to pass on some things because the prices went high. That’s good. It meant it was competitive.”
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