General Terms:

1. Scope

Our General Terms and Conditions apply to all legal transactions between D+A Online Services GmbH (auctioneer) and the customer in the course of participation in our online auctions. We expressly do not recognize any purchasing conditions that deviate from our General Terms and Conditions; this non-recognition also applies to cases where the buyer has stipulated a particular formality for non-recognition. If non-recognition is excluded, legal regulations shall take the place of deviating conditions. Deviating purchasing conditions shall only be recognized if we confirm in writing that they are to be applied.

2. Conclusion of Contract

Pecunem involves online auctions by D+A Online Services GmbH as defined in 156 German Civil Code (BGB).

The auction is conducted on the basis of payment of the purchase price in the stated auction currency and is staged on behalf of and on the account of the proprietors, in compliance with prevailing legal provisions arising from the German Auction Act (Federal Law Gazette (BGBl) Vol. I, 1976, 1346) and legal provisions of the German Civil Code (BGB) and Commercial Code (HGB) applicable to commercial agents. By submitting a bid, you agree to the auction terms and conditions; this also applies to written bids.

Each bid by the customer as part of the Pecunem online auctions constitutes a legally-binding offer to conclude a purchasing contract. This is in force until a higher bid (overbid) is submitted or the auction is concluded with the item left unsold. A contract is concluded only when the auctioneer accepts the winning bid.

Participation in the auction is only permitted to customers who have previously registered at Pecunem online auctions.

Both registration for our auctions and submission of a bid constitute acceptance of our General Terms and Conditions.

3. Fees

Each lot purchased through Pecunem online auctions is subject to a buyer’s fee of 10% of the hammer price. This fee will be collected by the company hosting the auction. In addition, the client is responsible for all applicable taxes (i.e., VAT in the EU) according to the location from which the auction lots are shipped.


4. Catalogue

The description of items in the catalogue is diligently prepared. However, it does not meet the threshold of legal liability or liability for material defects pursuant to §§434, 459 pp. of the German Civil Code (BGB). The stated condition of preservation is determined strictly according to the categories of preservation customary in coin trading and is considered a personal evaluation.


5. Bid Increments

The minimum bid increments for the bidding procedure are:

Bid amount: Increment

Up to 100: 5

Up to 200: 10

Up to 300: 20

Up to 800: 25

Up to 1000: 50

Up to 2000: 100

Up to 3000: 200

Up to 8000: 250

Up to 10000: 500

From 10000: 500



When several identical bids are received, the bid received first is the winning bid.


6. Auction Closing and Bidding Procedure

Auctions at Pecunem.com are timed auctions. Lots will be called up sequentially in lot order, with a fixed period of time between them. Each lot closes at a specific date and time as shown on the Web page that displays the full lot information. Bids that arrive after the closing time cannot be considered. The closing time is determined according to the clock on Pecunem's Web server.

Pecunem displays a countdown clock beside each lot, which is intended to show the bidder how much time is left before bidding is closed. This countdown clock is for informative purposes only. Although we try to ensure that it is synchronized with our server clock, we cannot be responsible for Internet-related delays or connection problems between our server and the bidder's computer that may affect the accuracy of the countdown. For this reason, we recommend that bidders place their bids well before the lot closing time to avoid disappointment.


7. Data Protection

All personal data will be kept strictly confidential and will not be made available to third parties.

8. Liability Disclaimer

In all cases where the auctioneer and/or the consignor are obliged on the basis of contractual or legal grounds to pay for damages or reimbursements, these parties are only liable to the extent that they have been proven to have acted willfully and with gross negligence or to have caused injury to life, limb, or health. This shall not affect liability regardless of negligence or fault according to the Product Liability Act. Nor shall it affect liability for gross breach of contract; to this degree, liability is limited to damages that are foreseeable and typical for this type of contract, except for the cases referred to in the first two sentences. The aforementioned provisions are not coupled with a change in the burden of proof to the disadvantage of the customer.

9. Applicable Law, Venue

The place of fulfillment is Munich, Germany. German law shall apply at the exclusion of the United Nations Convention on Contracts for the International Sale of Goods.

If the customer is an entrepreneur, a legal entity under public law or a special fund under public law, the exclusive venue for all disputes arising from this contract shall be the place of business of D+A Online Services GmbH. The same applies if the customer has no general legal venue in the Federal Republic of Germany or his domicile or normal place of abode is not known at the time a lawsuit is filed.

Should any of the provisions of this contract with the customer, including these General Terms and Conditions, be determined unlawful in part or whole, this shall not invalidate the remaining provisions. The provision found to be unlawful in part or whole shall be replaced with a provision that most closely achieves the economic purpose of the unlawful provision.

In case there is an unforeseen eventuality, the parties shall agree upon provisions that, on the basis of the entire body of the contract, shall help execute the contract according to the apparent will of both parties.



Host (Gitbud & Naumann) Terms:

§ 1 Cost of Shipping

Upon acceptance of the winning bid and issuance of an invoice, payment is to be made to one of our below bank accounts within 14 days. We assume a majority of the costs involved in carefully packing and reliably dispatching the merchandise. We charge you for shipping costs according to the following schedule: Shipping within Germany: € 4 per parcel. Shipping within the EU: € 10 per parcel. Overseas shipping: € 15 per parcel.

§ 2 Payment

All bids and hammer prices are in Euros, subject to prevailing value-added tax and buyer's premium.
On top of the hammer price, the customer is to pay the auctioneer a buyer's premium in the amount of 10% of the hammer price.
In addition, the customer is to pay the prevailing rate of value-added tax on the amount of the hammer price and on the buyer's premium.
Any other taxes, along with import and export taxes, are to be paid by the customer. Wherever applicable, the customer is to inquire about this beforehand or contact us.
For buyers from countries within the European Union who are able to produce proof of a VAT identification number (§27 a Value-Added Tax Act (USTG)) and other prerequisites according to §4 1b Value-Added Tax Act (USTG) in connection with §6 a of the USTG, goods will be shipped without VAT being charged.
Other foreign buyers (from non-EU countries), assuming we are the exporter of the coins, are subject to a 10% buyer's premium charged on top of the hammer price; they only receive shipments after paying the purchase price in Euro currency, where bank charges are paid by the customer.
Upon acceptance of the winning bid and the formation of the contract, payment is to be made to one of our below bank accounts within 14 days:



Hypo Vereinsbank Hypo Vereinsbank

EUR Account: 10344145 USD Account: 15041066

BLZ: 70020270 BLZ: 70020270

IBAN: DE15700202700010344145 IBAN: DE75700202700015041066

BIC: HYVEDEMMXXX BIC: HYVEDEMMXXX


We accept payment with credit cards such as VISA and MASTERCARD and will gladly inform you of any service fees involved. With regard to payment with these credit cards, we kindly ask that you contact us beforehand.

§ 3 Terms of Delivery and Delivery Period

For Pecunem Auctions delivery is only made upon payment in advance. After your bid has been accepted, we will send you an invoice to be paid within 14 days. Upon receipt of payment, we will ship the merchandise to you within 14 days.
If the customer is a business entity, the risk of incidental demise as well as incidental deterioration of the merchandise is transferred at the time the merchandise is handed over, in the case of shipped items, when the merchandise is handed over to the shipping agent, carrier or person or institution charged with expediting the shipment.
If the buyer is a consumer, for a mail-order purchase the risk of incidental demise or deterioration of the purchased item is only transferred when the merchandise is handed over to the buyer. The merchandise shall be considered handed over if the consumer is in default of accepting the purchased merchandise.
The transport risk we assume is covered by sufficient insurance policies.

§ 4 Liability for Defects

Because the preview provides an opportunity to be assured of the auction merchandise's condition of preservation, once merchandise has been sold at the auction, claims can only be considered in cases where traces of hooks and mountings or a plugged hole were overlooked in error.
In lots with several pieces, the number of pieces stated only represent approximations, and erroneous attributions cannot be ruled out in individual cases. After the sale has been made, these lots are excluded from any claim.
In case of possible differences of opinion or complaints, the auctioneer may appoint an expert of his choice (the costs shall be borne by the party losing the dispute).
Any disputes can only be considered within 8 days after the auction or after receipt of the auctioned items.
The authenticity of the pieces is guaranteed up to the amount of the purchase price. The stated prices are estimated prices which may turn out to be lower or higher.
Should the articles delivered prove to have obvious defects, whereby this also includes shipping damage, the customer is obliged to file a claim for such defects without delay. If you are a consumer, the failure to give notice of defect, however, shall not have any consequences on your legal rights.
You can reach our Customer Service Department by mail, telephone, and e-mail during normal business hours.

§ 5 Right of Withdrawal

Right of Withdrawal Disclosure

Consumers (any natural person who conducts a legal transaction which may not be attributed to any of his or her commercial or independent professional activities) are entitled to a statutory right of withdrawal.

Consumers have the right to withdraw from their contract declaration within 14 days for any reason by giving written notice (e.g. letter, fax, e-mail) within two weeks or – if you have already received the item prior to expiry of this period -- by sending back the item. The withdrawal period shall commence upon receipt of this written notification, however not prior to the buyer's receiving merchandise and not prior to our fulfilling our duty to inform pursuant to §§ 312c Section 2 of the German Civil Code (BGB) in conjunction with § 1 Section 1.2 and 4 German Civil Code Disclosure Requirements (BGB-InfoV), along with our obligations pursuant to § 312e Section 1 Subsection 1 of the German Civil Code (BGB) in conjunction with § 3 of German Civil Code Disclosure Requirements (BGB-InfoV). In order to uphold the withdrawal period, it is sufficient to timely dispatch the withdrawal notice or the merchandise. The withdrawal is to be addressed to:

Gitbud & Naumann Münzhandlung München GmbH

Ottostr. 5, 80333 München

Geschäftsführer: Marcus Naumann, Daniel Gitbud



Tel 089/95443969

Email info [at] gitbud-naumann.de



Effects of Withdrawal



In the event of a valid withdrawal, each party shall return to the other party any benefits received (e.g. interest). In case you are unable to return the goods or services rendered by us in whole or part, or only return them in a deteriorated condition, you must provide compensation for their value. This does not apply to the provision of goods if the deterioration of the goods results exclusively from inspecting them – as would have been possible, for example, in a shop. Otherwise you can avoid the obligation to provide compensation for the value of goods which have deteriorated through their proper use by not taking the goods into use as if they were your property and by refraining from any action that would diminish their value. Goods that are suitable for dispatch by parcel are to be sent back at our risk. You are to bear the cost of return shipping if the goods were delivered as ordered and the price of the goods being returned does not exceed 40 Euros or, in the event of a higher value, if at the time of revocation you have not yet paid in full or contractually arranged to make partial payment. Otherwise return shipping shall be free of charge to you. Any goods that are unsuitable for dispatch will be collected at your address. Obligations to reimburse payments must be fulfilled within 30 days. For you this term begins when you dispatch either your declaration of revocation or the goods; for us it begins upon their receipt.





§ 6 Reservation of Title

In contracts with consumers, we retain the title to goods until full payment of the purchase price has been made. In contracts with companies, we retain the title to goods until all claims from an ongoing business relationship have been satisfied.
As long as the purchase price has not been paid in full, the customer is obliged
a) to handle the merchandise with care, in particular to not clean coins or treat them with chemicals or other objects, and
b) to notify us immediately if a third party has placed a claim, such as a lien, on the goods, or if the goods have suffered damage or demise and/or
c) change of ownership of the goods has occurred, as well as a change in the buyer's own domicile.
An entrepreneur has the right to sell the goods to a third party in the course of normal business. In doing so, he already assigns to us all receivables vis-à-vis third parties that accrue to him by reselling the goods in the amount of the invoiced value. We already accept this assignment. Subsequent to assignment, the company is entitled to collect the receivables. We do, however, reserve the right to collect the receivables ourselves, if the company does not duly fulfill its payment obligations and falls into default.