06/10/2025
Madison County Coin Club
of Huntsville, Alabama
June 16 Auction
Rules and Procedures
Hi Everyone,
If you are planning to participate in the club's auction on June 16, please read the following rules and procedures:
Consignment:
Only members that are current in their dues may make consignments to the auction.
We recommend that if you wish to participate in the auction as a seller you arrive at the meeting room at 5:15 or soon thereafter to present your consignments for inclusion in the auction.
To proceed timely with the auction, we are not able to accept consignments after 6:00 pm on the day of the auction.
As lots (along with completed auction slips) are presented by consigner, lot numbers are assigned in numerical order, beginning with “1,” by a member of the Auction Team (Auctioneer, Auction Record Keeper, or Runner).
Only numismatic and exomumistmatic items may be consigned for auction.
The maximum number of lots to be auctioned per member is five (5). All consigned items must be appropriately packaged and described.
Seller may indicate their assessment of the “condition” of the item in the “Description” block of the auction slip.
The auction slip can be downloaded here.
Do not write in the “Lot”, “Buyer” and “Sold” sections of the slip!
Complete all other sections of the slip.
Viewing:
Auction lots and their slips will be added to the auctioneer’s table and be available for viewing by potential bidders shortly after the consigner presents the lot and its completed auction slip to be included in the auction.
We recommend that if you wish to participate in the auction as a buyer you arrive at the meeting room at 5:15 or soon thereafter to have the maximum amount of time to view and consider lots.
The auction begins and viewing concurrently ends promptly at 6:15 pm.
Once the auction begins, for the auction to proceed without undue delay no further inspection of items consigned for auction will be allowed; nor will the auction be delayed allowing potential bidders to research or discuss consigned items.
Before the auction starts, if you are interested in bidding for an item, place a hatch mark “/” in the lower right corner of that lot’s auction slip. If there are no hatch marks on an auction slip by the time the auction begins, the associated lot will not be included in the auction.
Auctioneer:
The Auctioneer (a MCCC Officer or Board Member) guides the bidding process.
Bidding:
Bidders raise their hands or call out bids, with the Auctioneer determining the highest bid.
Bid increments are at the discretion of the Auctioneer.
The decision of the Auctioneer as to the winning bid and winning bidder is final.
Runner:
A Runner (an Officer or Board Member) will carry the lot to the winning bidder and take the payment from the winning bidder to the Auction Record Keeper (an Officer or Board Member).
“No bid” items will be returned to the consignor by the Runner as soon as the items are identified as having no bid.
Payment:
Payment must be in cash.
The Auction Record Keeper will make change, and the Runner will carry the change to the winning bidder before the auction of the next item begins.
Auction Record Keeper:
The Auction Record Keeper keeps a record of sales.
As soon as the winning bidder of a lot is determined by the Auctioneer, the lot auction slip is handed by the Auctioneer to the Auction Record Keeper to fill out the “Buyer” and “Sold” (winning bid amount) sections.
During auction the Auction Record Keeper maintains control of proceeds from each lot; and, once received from the Auctioneer, control of the auction slip related to the lot.
Auction Ends:
The auction ends at 7:00 pm whether there are lots remaining or not.
Any lots remaining at the end of the auction will be returned to the consigner by the Runner in an orderly fashion by lot order number.
Post-Auction:
As soon as the auction concludes, consigners whose lots were sold must present themselves to the Auction Record Keeper to receive the proceeds from the sale of each lot.
The Auction Record Keeper will disperse proceeds in lot number order.
Items for Sale but not Consigned for Auction:
Members may bring numismatic and exonumistmatic items to sell before and after the auction. Such items must be kept under the control of the seller and buyer.
The MCCC, although supportive of these activities, has no official involvement in such items.
