Banknotes, bullion drive success in Premier Auction

By Jesse Robitaille

Realizations include buyer’s premium.

Nearly 1,300 lots crossed the block this September during Colonial Acres’ two-session Premier Auction, which topped 100 active online bidders and hit a successful sell-through rate of three-quarters.

Paper money, bullion and high-quality key-date coins led the way in the Sept. 11-12 sale, which saw strong realizations in each of those three sections. Aside from the top-earning lot – a 1904 10-cent coin in high Mint-State (MS) condition – paper money and bullion were the strongest consistent sellers with several lots topping their pre-sale estimates.

“We hit our target sales numbers again this past auction, which we have managed to do with all our Premier Auctions to date,” said auctioneer Kirk Parsons, co-owner of the Kitchener, Ont.-based auction house.

The past two Premier Auctions have been held online only – what Parsons called “the new way of conducting business” – due to the ongoing COVID-19 pandemic.

“As much as we really enjoy seeing everyone in person at the coin shows and live auction venues, moving to online has been the only feasible option to keep the industry moving in a positive direction,” said Parsons, who added Colonial’s clients – even those who aren’t so “computer savvy” – have since taken to the online platform in recent months.

“Bidding was solid through many of the sections; however, as with all auctions, predicting which areas will perform well is always an unknown. It’s always interesting to see, from one auction to another, how a certain denomination or area of coins can be very hot, and then six months later there may not be as much interest – and then it is hot the next month. We strive to make our auctions diverse with all categories so we can attract all collectors’ interests.”


As it has for the past few years, paper money “remains an anchor in the auctions,” Parsons said.

“Some rare notes have been hitting the auction block, and combined with an increased interest in the buying community, paper money continues to be a hot commodity. The specimen notes performed well once again, and chartered notes sell well every time.”

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