hotwheelsearl Posted May 12, 2023 · Member Share Posted May 12, 2023 The auction for the Anders Collection seemingly has every single coin at an estimate of L5, with opening bid of L3. ....what?? Is this just an error, or what is this supposed to mean? Some sort of marketing tactic? Quote Link to comment Share on other sites More sharing options...
John Conduitt Posted May 12, 2023 · Supporter Share Posted May 12, 2023 (edited) I think it's a marketing tactic. Some other auctions have long set opening bids at $5. They still sell for plenty. Most auction software automatically sets the estimates at something like 150% of the reserve, which is often the opening bid, so they all get an estimate of £5 on a £3 reserve. Edited May 12, 2023 by John Conduitt Quote Link to comment Share on other sites More sharing options...
Benefactor Ancient Coin Hunter Posted May 12, 2023 · Benefactor Benefactor Share Posted May 12, 2023 Sounds pretty weird. Quote Link to comment Share on other sites More sharing options...
expat Posted May 12, 2023 · Supporter Share Posted May 12, 2023 Marketing, pure and simple.The antiquated L, S, D in English pre-decimal currency stood for pounds ,shillings and pence. The L was Libra, Latin for pound. Quote Link to comment Share on other sites More sharing options...
hotwheelsearl Posted May 12, 2023 · Member Author Share Posted May 12, 2023 1 hour ago, expat said: Marketing, pure and simple.The antiquated L, S, D in English pre-decimal currency stood for pounds ,shillings and pence. The L was Libra, Latin for pound. Also, I don't have a "pound" key on my keyboard haha Quote Link to comment Share on other sites More sharing options...
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