For the next day or two after that, successful bidders were sent invoices by mail, and coins were shipped on open account to those who had furnished satisfactory references. The entire Kingswood staff pitched in to send the invoices and coins out as soon as possible.

By the time that the Kingswood staff was mailing invoices and coins for the Amherst Sale, the next Kingswood event, the Barrington Sale, was already well underway, consignments were being processed, and major parts of the catalogue had been researched and written, as part of a virtually non-stop ongoing program.

Mail bid sales have a time-honored tradition, and in the past many important collections have been sold this way. B. Max Mehl, of Fort Worth, Texas, who was unquestionably America's most prominent dealer during the first half of the present century, conducted mail bid sales only. In fact, he never had a sale with public participation. Some of the greatest collections ever sold were dispersed in this manner, including the Dunham Collection in 1941, which had both an 1804 dollar and an 1822 half eagle, and the Atwater, Neil, Olsen, Ten Eyck, Slack, and other holdings.

How to Buy in Mail Bid Sales

Buying by mail or telephone in a mail bid sale can be a very enjoyable and profitable procedure if you follow certain steps. Certain of these are similar to those discussed earlier for bidding in public auctions:

- Read the terms: Read the terms of sale carefully, for once you bid you are legally bound to abide by the rules. If you have any questions about how to bid, or at what level to bid, ask the firm conducting the sale. It is also a good idea to get information and advice from others who have done business with the firm. If some coins are sold "as is" or on a "no returns allowed" basis be aware of this. Some sellers permit returns only at the seller's option. Others permit no returns of certified coins but have provisions for the return of other (non-slabbed) coins within a specified time. Although it is possible to argue with a seller and possibly achieve satisfaction, it is far simpler and more pleasant to read the terms of sale carefully and don't bid unless you agree with what you see in print. Our own Kingswood sales allow returns within a specified time for any reason the buyer chooses, but most sellers are not that liberal. The terms of sale of many sellers note that the seller reserves the right to bid on any lot, that he may have an ownership in certain lots, and that he may set starting or reserve bids. With regard to starting or reserve bids, it is important to remember that the individual or firm conducting the mail bid sale has a dual obligation; he must endeavor to protect the owner or consignor as well as the buyer or bidder. I reiterate: read the terms of sale before bidding.