Terms of Sale


Website: Use of the website (www.davcoin.com) is dependent on acceptance of these terms. We reserve the right to revoke any bids and registrations, restrict access, and modify or disable the site or any of its features, including any specific auction or web store lot(s), at our discretion. We also do not make any guarantees regarding accessibility, accuracy, or security of this website with regard to registration and bidding. However, connections to this website are encrypted via SSL, and any payments processed through this website are handled on a separate server by a secure third party payment processor, in compliance with PCI data security standards.

Bidders and Registration: Lots will be sold to the highest bidder. Bidders personally guarantee that they will pay for their winning bids. If you are a new bidder in our sales, please provide numismatic credit references or include a 25%-of-total-bids deposit with your bids. If bidding by internet, please register and provide the requested information. Client data is kept confidential; we do not share our mailing list or client information unless authorized. In addition to internet bidding, you may bid by mailing the bid sheet included with each catalog, or by email, fax, or telephone. If you choose to telephone your bids, we appreciate a written follow-up. Our practice is to always read back telephone bids and ask for confirmation. So far, we have had no problems with this approach. If you have special instructions such as limits on total expenditures, please talk with us.

We will always respond to emails promptly during auctions! If you do not get a reply within one business day we may not have received your email. Try again!

Bid Processing: Bidding through our website will allow instant feedback of the success of any bid. We will enter bids that come in by any of the non-website methods listed above as soon as possible during normal business hours, Monday to Friday, 9 A.M. to 5 P.M. CST. On the closing day of an auction the office will open at 7:30 A.M. CST. Bids that come from email, telephone, fax or bid sheet will not usually be posted outside of office hours. So any internet feedback you get outside of regular office hours may not reflect this other bidding. We recognize that many people prefer the phone-fax-email-personal approach to bidding. We will accept bids submitted in this fashion until 9:00 A.M. CST on the day of the sale. There is NO extra charge for bids submitted by mail, telephone, email or fax.

Bidding Restrictions: Please note, we reserve the right to determine opening prices, advances, acceptability of bids and bidding registrations, to bid on our own account, or to withdraw any lot. In case of dispute, we reserve the right to reopen the lot. Bids below the opening amount, typically 70% of the estimate, will not be accepted for online bidding. However, we have always been willing to consider bids below the opening level, or even below reserves, after the sale closes on a case-by-case basis. We work closely with consignors in establishing price levels, reserve levels and asking prices for lots we offer in an aftersale. Our general consignment terms allow an 80% of estimate level for the consignor so that any coin not reaching this level can be claimed back by the consignor with no charge.

Lot Closing: For bidders online, lots will be closing every 30 seconds unless a bid is placed during that last 30 seconds. In that case, the bidding window will reset to 30 seconds. Lots will close sequentially, not simultaneously, meaning that no subsequent lots will begin to close until the current lot is closed. Allan, Marnie, and Lief will be available by telephone during most office hours but particularly during the week the sale closes. Keep in mind that last minute calls may not get through. We will attempt to call back if you leave your number. Allan has found in bidding online in other sales that establishing a reasonably strong limit usually brings success and frequently at less than his maximum.

In general, bid strongly on lots you particularly want. Your final price will be one advance beyond the next highest bid though it is not our practice to reduce any bids below estimate. Also please note, we do NOT charge a buyer’s fee, so the price you win the lot for will be the price you pay, plus any charges for shipping or payments made with a credit card (see 7. Payments and Invoicing).

Estimates: We have estimated conservatively, assigning values that we believe reflect the moderate end of current price ranges. Some lots have reserves. In no case is a reserve higher than the estimate. We will not enter bids for less than 70% of estimate though we will consider them at the end of the sale for unsold lots.

Payment and Invoicing: THERE IS NO BUYER’S FEE! Please bid in US dollars. Payment should be in US dollars or British pounds by check, money order, wire or direct deposit into our Barclay’s sterling account (details provided to all United Kingdom buyers and to others on request). We will determine the pound rate at the time of invoicing based on reported rates. We also accept MasterCard and Visa, both over the phone and through our website. However, following the practice of other firms who find, as have we, that collections and fees add to the overhead of these sales, we will add a 3% administration charge to all credit card invoices (pursuant to Minnesota Statute 325G.051) and to invoices unpaid after 30 days. We will follow the billing instructions you note on your bid sheet or at the time you bid. We can work out a time payment schedule if that is necessary—please ask about this option before bidding.

The British pound is currently trading in the £=$1.60 range but regularly shows small fluctuations. If you are paying in British pounds, the rate used will be based on the effective exchange rate, £ to $, at the time of billing. Bids must be placed and will be processed in US dollars. We will invoice in both US dollars and British pounds for any client who requests it. Sterling payments will be made directly to our sterling account.

Payment and Delivery of Lots: Invoices will be sent by email soon after the sale and by regular U.S. mail to people for whom we have no email address. Payment is due on receipt of invoice. Packing, shipping and mailing costs will be added to all invoices. Insured or registered mail with coverage for the total amount will be used for U.S. addresses. US buyers will receive lots by Priority or Express mail, fully insured. Buyers outside the United States should provide any special shipping instructions. All shipments outside the United States are sent at the buyer’s risk but we make strong efforts to get your items to you. Items valued over $25,000 will require special arrangements which we will make with you after the sale. Ordinarily, shipments outside the United States are sent insured by U.S. Registered or Express Mail. Mail to Canada is sent Registered. We carry a $500 deductible insurance policy on material we mail out of the United States and will seek reimbursement for lost or damaged items. Items sent to non U.S. addresses will be sent by registered mail and will be insured by us. Such items are sent at the recipient’s risk but we will make efforts to collect on insurance. In two decades of running these sales, we have yet to have a problem with shipping we could not resolve though there is a short list of countries (non-Euro zone) to which we will not ship.

Authenticity: This is an auction sale, not an approval sale. All lots are guaranteed to be genuine and as presented online. Any claims, other than claims of authenticity, must be made within three days of receipt of lots. N.B. Attribution and condition are the opinion of the cataloger and no warranty is expressed or implied. Conflicting opinions about grade by grading services do not constitute a valid basis for return. Our experience is that the U.S. grading services typically do not understand the grading of coins made with extensive hand work. Authenticity claims must be supported by the judgment of recognized professionals or services such as that provided by the I.A.P.N. (In 2008 I returned an electrotype of a Cromwell crown that was slabbed as “genuine”?by NGC.) In any event, our maximum liability for any item or dispute is limited to the actual amount paid for the item.

Title does not pass until items are paid for in full.

Lots sent to Minnesota addresses will have State Sales Tax, 6.85%, added to the invoice unless you have provided a Minnesota resale number.

There is an informality about these terms that is based on our belief that pages of fine print can never cover every eventuality and that in the final analysis, rules of reason and decency must prevail. Most of the people who take part in our sales have done business with us in the past and we have been able to work out any issues that come up in a friendly and equitable manner. We look forward to making our current and future auction sales a pleasant and enjoyable experience for you and for us. While these terms are current, they are subject to change at any time. The version posted here on our website (davcoin.com) will always be the most current version, and in cases of conflict supersedes any version printed elsewhere. Bidding or using our website after we have revised the Terms of Use constitutes acceptance of the revisions, and you will be bound by the revised Terms of Use.