Pennies like rain shower coin collector advocacy
The 2010 ACCG Benefit Auction marked the third successful hosting of this annual event.
Wayne G. Sayles |
October 10, 2010
A couple years ago, the internet giant Google celebrated its 10th anniversary by funding a project to make the lives of people better. The project, called 10^100, reflected the commitment of Google to fund (with $10 Million) a winning "great idea" to make people's lives better (Ironically, 10 to the 100th power is called a "googol"). In any case, 10 is an important number religiously, culturally and psychologically—not to mention economically.
These days, a penny doesn't get very much attention—sort of like a single raindrop. But, everyone knows what happens when those raindrops start adding up. If a penny saved is equal to a penny earned, then 10 Million pennies donated in advocacy of a worthy cause should mirror the benefit of that cause to society. Ancient coin collectors aren't quite as well funded as Google, but they do know at least one thing that makes the lives of people better and they're willing to support it—to the tune of 10 Million pennies (and that's a lot of rain).
The 2010 ACCG Benefit Auction closed on October 7th with the final hammer prices reaching 96% of pre-auction estimate on average. The "unreserved" sale included 175 single and group lots of coins, books and related items. All lots were donated by ACCG supporters in the collector community and associated trade. The auction raised over $28,000 in support of guild programs, most notably as a supplement to funding of the ongoing litigation in Washington.
Prices realized were typical of an unreserved auction with one group of 10 auction catalogs selling for $6 (well less than the cost to print them) and a Good VF gold stater of Philip II of Macedon at the other end of the spectrum selling for $2,600 in very competitive bidding. Overall, the sale did remarkably well in a difficult market. A total of 1,362 bids were placed during the sale with a final invoice total of $28,932. Over the past three years, the Benefit Auction event has raised a total of more than $100,000 (10 Million pennies) toward the funding of legal initiatives and other ACCG programs in support of the hobby.
The ACCG Board of Directors sincerely thanks the donors to this event for their generosity and the bidders for their enthusiasm and support. A debt of gratitude is also due to John Lavender who has photographed and catalogued the entire sale for the past three years and to VAuctions.com for graciously hosting the event at no charge and with no buyer's fees. Donations for ACCG IV (2011) may be made at any time throughout the next year by writing to email@example.com