Terms and Conditions
PAYMENTS
We accept Visa, Mastercard, American Express, Discover, PayPal, check or wire transfer. All credit card purchases totaling $500 or more will require contact with the bidder to obtain the three digit CVV code on back of card. If this applies to you, please contact Tangible Investments at 888-655-9255 to finalize payment. CA residents will pay the mandatory 8% sales tax if applicable. Coin, currency and bullion purchases over $1,500 are sales tax exempt in California. Buyer's Premium is 15% or $15, whichever is greater.
For additional information, please contact Tangible Investments at 888-655-9255 or email info@gocoins.com.
SHIPPING
Shipping expenses are the high bidder's responsibility. The costs vary depending on the combined value of each bidder?s lots, as well as size, weight, and special handling issues. Please contact us before or after the sale for more information. Bidders are also permitted to pick-up winning lots at our gallery, by appointment. Most coin and currency lots will ship for $20 or less.
TERMS OF SALE
1. This is a public auction sale conducted in California, by bonded Auctioneers. The bonded Auctioneer is Tangible Investments LLC (hereinafter referred to as Auctioneer and at times as Tangible).
2. Bidding in this sale constitutes acceptance by you of all the Terms and Conditions of Sale stated herein, (Bidder). Bidders include Consignors who retain their lots pursuant to their consignment agreement with Tangible.
3. Tangible reserves the right to include in any auction sale its own material as well as material from affiliated or related companies, principals, officers or employees. Tangible may have direct or indirect interests in these, or other items, and may collect commissions. THIS PARAGRAPH SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS CONTAINED IN THE CATALOGUE.
4. Bidder acknowledges as follows: Grading is an art and not a science. The grade and estimated value herein represents the opinion of Tangible or its Consignor(s). It is possible that two people will not always grade the same item alike. Also, as market conditions change, grading standards change, and will most likely continue to do so in the future. Each Bidder?s own examination of the item(s) is the criterion and not the grade represented by another. Every effort is made by Tangible to determine provenance and authenticity. It is the Bidder's responsibility to arrive at a final conclusion prior to bidding. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUE CONCERNING ANY AND ALL PURCHASES.
5. Consignors or their agents are not permitted to bid on their own lots in the sale. If any items are acquired in violation of a consignor?s commitment not to bid or cause bids to be placed on their property, the Consignor will pay Tangible the full Seller?s Fee and Buyer?s Commission.
6. Tangible may at its sole and absolute discretion, make loans or advances to Consignors and/or Bidders.
7. Tangible may bid for its own account at any auction. Bidder acknowledges and agrees that Tangible may not be required to pay a Buyer?s Commission, or other charges that other Bidders may be required to pay and may have access to information concerning the lot(s) that is not otherwise available to the public. Any claimed conflict of interest or claimed competitive advantage resulting there from is expressly waived by all participants in the Sale.
8. Lot(s) may carry a Reserve. A Reserve is a confidential price or bid below which the Auctioneer will not sell an item or will re-purchase on behalf of the Consignor or for Tangible. Estimates given are for the general guidance of the bidder and represent the opinion of the auctioneer as the fair market value of the numismatic item at the time of cataloging, based on experience and comparable sale, if applicable. The price realized may be higher, or lower than the estimate. If a lot is reserved, the reserve may not exceed the maximum estimated price.
9. The Auctioneer may open or accept the bidding on any lot by placing a bid on behalf of the Consignor or his or her agent; a Bidder by mail, telephone or telefax; or any other participant in the Sale. The Auctioneer may accept or decline any bid, challenge to any bid or bidding increment, as the Auctioneer in their sole discretion shall determine. Bids must be for an entire lot and each lot constitutes a separate sale. No lot will be broken up unless otherwise permitted by the Auctioneer. Lots will be sold in their numbered sequence unless Auctioneer directs otherwise. It is unlawful and illegal for Bidders to collude, pool, or agree with another Bidder to pay less than the fair value for lot(s). Bidders in the Sale acknowledge that the law provides for substantial penalties in the form of treble damages and attorneys? fees and costs for those who violate these provisions.
10. All material shall be sold in separate lots to the highest Bidder as determined by the Auctioneer. If any dispute arises, Auctioneer shall have the right to rescind the acceptance of the bid and place the lot(s) for Sale again. Auctioneer?s decision shall be final. For the Mail Bidder?s protection, no unlimited or buy bids will be accepted. When identical bids are received for a lot, preference is given to the first bid received as determined by the Auctioneer. A mail bid will take precedence over an identical floor bid; a Floor Bidder and Telephone Bidder must bid higher than the highest mail bid to be awarded any lot. Auctioneer reserves the right to refuse any bid, to reduce any mail bid received, to open the bidding of a lot at any level deemed appropriate by the Auctioneer and to determine the prevailing bid, at his sole discretion.
11. All persons seeking to bid must have a catalogue and register to bid at the auction by completing a registration card or bid sheet. By submitting a bid, the Bidder acknowledges receipt of the catalogue. The Bidder further acknowledges that Bidder has read the Terms and Conditions of Sale, the descriptions for the lot(s) on which they have bid, and that they agree to adhere to these Terms and Conditions of Sale. This agreement shall be deemed to have been made in California. The Bidder acknowledges that the invoice describing a lot by number incorporates the catalogue and Terms and Conditions of Sale. All bids submitted on Tangible own website are absentee, not final bids. By bidding on the Tangible website, the Bidder acknowledges that their bidding results are preliminary until Tangible completes their live auction and/or posts their prices realized. The Bidder may be the highest online bidder, but still be outbid in the Tangible live auction. Tangible may sell a lot below its reserve. If a lot does not meet reserve online and then sells in a Tangible live auction, the sale of the lot is considered final and the Bidder is obligated to pay for said lot.
12. A Buyer?s Commission of twenty percent (20%) or fifteen dollars ($15), whichever is greater on each individual lot will be added to all purchases made by all Bidders in its live and online auctions.
13. Unless otherwise agreed in writing, auction sales are strictly cash in U.S. funds payable through a bank in the United States. On any cash transaction or series of transactions exceeding $10,000, Treasury Form 8300 will be filed. Contact Tangible for wiring instructions before sending a bank wire. Lots must be paid for the earlier of receipt of invoice or delivery. Tangible reserves the right to decline to release lots for which good funds have not yet been received. On any accounts past due, Tangible reserves the right to extend credit and impose periodic charges. Bidder agrees to pay reasonable attorneys? fees and costs incurred to collect on such past due accounts.
14. Payment by credit card will be accepted up to $10,000 from non-dealers only. We will not accept payment via credit card for any purchases over $10,000. Bids will not be accepted from those persons under eighteen (18) years of age without a parent?s written consent which acknowledges the Terms and Conditions of Sale herein and agrees to be bound thereby on behalf of the Bidder.
15. Bidders personally and unconditionally guarantee payment that are or become owed to Tangible. If a corporation is the Bidder, the corporate representative present at the sale shall provide Tangible at the time of registration with a statement signed by each principal, director and officer that they each personally and unconditionally guarantee any and all current or future obligations owed to Tangible.
16. Bidders who have not established credit with Tangible must furnish satisfactory credit references or deposit at least twenty-five percent (25%) of their total bids for that Auction Sale session(s) or such other amounts as Tangible may, in its sole and absolute discretion, require before such bids will be accepted. Deposits submitted will be applied to purchases. Any remaining deposits will be promptly refunded, upon clearance of the funds.
17. AUCTION SALES ARE NOT ON APPROVAL. No certified coins may be returned because of possible differences of opinion with respect to the grade offered by any third-party certification service. No guarantee of grade or value is offered for uncertified Property sold and subsequently submitted to a third-party grading service. There are absolutely no exceptions to this policy. Under extremely limited circumstances, (e.g. gross cataloging error) a successful bidder, who did not bid from the floor, may request Auctioneer to evaluate the possibility of voiding a sale; requests to evaluate possibly voiding and auction sale must be made in writing detailing the alleged gross error, and submission of the lot to the Auctioneer for evaluation must be pre-approved by the Auctioneer; bidder must notify Tangible Investments LLC in writing of the such request and such notice must be mailed within three (3) days of the mail bidder?s receipt of the lot. Lots submitted for evaluation must be in our offices within 30 days after Auction. Grading or method of manufacture do not constitute grounds for evaluation, nor do such complaints constitute a basis to challenge the authenticity of a lot. AFTER THAT 30-DAY PERIOD, NO LOTS MAY BE RETURNED FOR REASONS OTHER THAN AUTHENTICITY. Lots returned must remain intact in the original holder. No lots purchased by floor Bidders may be returned (including those Bidders acting as agents for others). Late payment for purchases may be considered just cause to revoke all return privileges.
18. All prospective Bidders who have had the opportunity to examine the lot(s) prior to the Auction Sale, personally assume all responsibility for any damage that Bidder causes while handling or examining lot(s). Tangible shall have sole discretion in determining the value of the damage caused, which shall be promptly paid by the prospective Bidder.
19. TANGIBLE IS NOT RESPONSIBLE FOR ANY ERRORS IN BIDDING. A Bidder should make certain to bid on the correct lot and that the bid is the maximum plus the Buyer?s Commission that he or she is willing and able to pay. Seventeen and a half percent (17.5%) will be added to all successful bids in its auctions. Once the hammer has fallen and the Auctioneer has announced the winning Bidder, the Bidder is unconditionally bound to pay for the lot, even if the Bidder has made a mistake.
20. Tangible will not assume responsibility for the shipping and packaging of certain larger items or items of a more fragile nature sold in this sale as determined by Tangible. It is the Bidder?s responsibility to contact Tangible after the sale to make shipping and packaging arrangements. Due to the fragile nature of some lots, Tangible may be forced to charge additional shipping and handling. Lots indicated as being framed are shipped at the Bidder?s risk.
21. DISCLAIMERS AND WARRANTIES: ALL ITEMS OFFERED IN THIS CATALOGUE ARE GUARANTEED TO BE AUTHENTIC. THIS IS A LIMITED WARRANTY THAT THE ITEM SOLD IS NOT COUNTERFEIT AND THAT ITS DATE OR MINTMARK HAS NOT BEEN ALTERED. ANY OTHER WARRANTY IS EXPRESSLY DISCLAIMED; THERE IS NO REPRESENTATION OR WARRANTY THAT A NUMISMATIC ITEM HAS OR HAS NOT BEEN CLEANED; THAT ANY TONING IS NATURAL OR ARTIFICIAL; THAT ANY ITEM WILL MEET THE STANDARDS OR GRADE OF ANY INDEPENDENT GRADING SERVICE; THAT ANY ITEM HAS A PARTICULAR PROVENANCE OR PEDIGREE, OR THAT AN ITEM IS STRUCK OR PRODUCED IN A PARTICULAR STYLE. ANY STATEMENT CONCERNING THIS IS A MATTER OF OPINION ONLY. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, INCLUDING A WARRANTY OF MERCHANTABILITY IS MADE WITH RESPECT TO ANY GRADE DESCRIPTION WHICH IS ONLY AN OPINION THAT IS LIKELY TO DIFFER, EVEN AMONG EXPERTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING OF A LOT.
a. All sales of items (1) viewed by Bidders in advance of a sale, even if the sale is by mail, internet or telefax; or (2) bid upon by Floor Bidders, Telephone Bidders and Bidders who present Tangible with a resale certificate, out of state resale certificate, or similar evidence in acting as a dealer; ARE FINAL AND MAY NOT BE RETURNED, WITH THE EXCEPTION OF ITEMS THAT ARE CATALOGED ERRONEOUSLY (i.e. TYPOGRAPHICAL ERRORS), OR DEEMED TO NOT BE AUTHENTIC. THE STANDARD 14-DAY RETAIL RETURN POLICY STATED BY TANGIBLE INVESTMENTS LLC IS VOID FOR ALL AUCTIONS.
b. Any and all claims that an item is not authentic, must be made in writing to Tangible within five (5) calendar days after receipt of the item.
c. . If an item or items are returned pursuant to the terms herein, they must be housed in their original, sealed and unopened container.
d. Late remittance or removal of any item from its original container constitutes just cause for revocation of all return privileges.
e. Grading or condition of rare coins may have a material effect on the value of the item(s) purchased; and the opinion of others (including independent grading services) may differ with the independent grading services opinion or interpretation of Tangible. Tangible shall not be bound by any prior, or subsequent opinion, determination or certification by any independent grading service.
f. Questions regarding the minting of a coin as a proof or as a business strike relate to the method of manufacture and not to authenticity.
g. All oral and written statements made by Tangible and its employees (including affiliated and related companies) are statements of opinion only, and are not warranties or representations of any kind, unless stated as a specific written warranty, and no employee or agent of Tangible has authority to vary or alter these Terms and Conditions of Sale. Any alteration shall be effective only if in writing and signed by an officer of Tangible authorized to do so.
h. Bidders shall have no recourse against the Consignor for any reason whatsoever.
i. Notwithstanding anything to the contrary in these Terms and Conditions of Sale, COINS LISTED IN THIS CATALOGUE GRADED BY PCGS, NGC OR ANACS CACHET, OR ANY OTHER THIRD PARTY GRADING SERVICE MAY NOT BE RETURNED FOR ANY REASON WHATSOEVER.
22. Tangible reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Bidder has taken physical possession of the lot. No Bidder shall have a right to claim any consequential damages if a lot is withdrawn, even after the auction sale. Auctioneer will have the final discretion to determine the successful bidder, cancel the sale, withdraw the item, or to reoffer and resell the article during or in a future sale or return it to the consignor. If any dispute arises after the sale, the Auctioneer?s decision is conclusive.
23. Taxes, postage, freight charges, if applicable, handling, insurance, Buyer?s Commission, and any other fees required by law to be charged or collected will be added to the invoice for any lot(s) that is invoiced to successful Bidders. On any tax not paid by Bidder which should have been paid, even if not collected by Tangible by mistake, error, negligence or gross negligence, Bidder agrees to promptly pay the same on demand together with any interest or penalty that may be assessed.
24. Bidder grants to Tangible or its assigns the right to offset any sums due, or found to be due to Tangible, and to make such offset from any past, current, or future consignment; purchases that are in the possession or control of Tangible; or from any sums due to Bidder by Tangible. Bidder further grants Tangible a purchase money security interest in such sums or items to the extent applicable. Bidder agrees that Tangible and its assigns shall be a secured party with respect to items bought by Bidder and in the possession of Tangible, to the extent of the maximum indebtedness, plus all accrued expenses attorney fees and costs, until the indebtedness is paid. Bidder grants Tangible the right to file a UCC on such items without need for Bidders signature, and to assign such interest to any affiliated or related company or any third party deemed appropriate by Tangible.
25. In the event a successful Bidder fails to make payment when due, Tangible reserves the right to resell the lot(s) in a commercially reasonable manner, which may include a private sale. Bidder agrees to pay for the reasonable cost of such a sale, together with any incidental costs of sale, including reasonable attorneys? fees and costs, cataloguing and any other reasonable charges.
26. If the auction invoice is not paid for in full when due per invoice terms, the unpaid balance will earn interest at the rate of one-and-one-half percent (1-1/2%) per month until it is paid in full. In the event this interest rate exceeds the interest permitted by law, the same shall be adjusted to the maximum rate permitted by law. Bidder agrees to pay all reasonable attorneys? fees, court costs and other collection costs incurred by Tangible or any affiliated or related company to collect past due invoices. Tangible reserves the right to assign its interest to any third party.
27. Bidder expressly consents to the following Waiver and Release: Bidder, for himself, his heirs, agents, successors and assigns, generally and specifically waives and releases, and forever discharges Tangible, and its respective affiliates, parents, shareholders, agents, subsidiaries, employees, members of their respective boards of directors, and each of them, and their respective successors and assigns from any and all claims, rights, demands and causes of action and suits, of whatever kind or nature, whether in law or equity, whether known or unknown, suspected or unsuspected, which Bidder may claim to have with respect to and/or arising out of, or in connection with any challenge to the title to any goods purchased, the sale itself, and/or the auction, except where such reimbursement is otherwise authorized in these Terms and Conditions of Sale. It is the intention of Bidder that this waiver and release shall be effective as a bar to each and every claim, demand, cause of action and suit that may arise hereunder, and Purchaser hereby knowingly and voluntarily waives any and all rights and benefits otherwise conferred upon him by the provisions of Section 1542 of the California Civil Code, which reads in full as follows:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.
28. Title to any lot remains with Consignor, any secured party of the Consignor, or Consignor?s assigns, as the case may be, until the lot is paid for in full by Bidder. Tangible reserves the right to require payment in full before delivering any lot to the successful Bidder.
29. It is the Bidder?s responsibility and obligation to have the lots fully insured while in his or her possession. Bidder assumes any and all RISK OF LOSS while the lot(s) is in Bidder?s possession.
30. If a dispute arises concerning ownership of a lot that has been bid upon, Tangible reserves the right to commence a statutory interpleader proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorneys? fees and costs.
31. All photographs in this catalogue are of the actual items being sold but may not be the actual size or to scale.
32. Tangible reserves the right to postpone the auction sale or any session thereof for a reasonable period of time for any reason whatsoever. No Bidder shall have any claim as a result thereof, including incidental or consequential damages.
33. Neither Tangible nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms and Conditions of Sale, the auction or the conduct thereof and in no event shall liability for any such failure exceed the purchase price, premium, or fees paid.
34. Rights granted to Bidders under the within Terms of Conditions of Sale are personal and apply only to the Bidder who initially purchases the lot(s) from Tangible. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Sale.
35. If the Bidder fails to comply with one or more of these Terms and Conditions of Sale, then, in addition to all other remedies which it may have at law or in equity, Tangible may at its sole option, either (a) cancel the sale, retaining all payments made by Bidder as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, or (b) sell a portion or all of the lot(s) held by Tangible, in a quantity sufficient in the opinion of Tangible to satisfy the indebtedness, plus all accrued charges. More than one such sale may take place at the option of Tangible. Notice of the sale shall be by U.S.P.S. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by Tangible. Such sale will be at Tangible?s standard commission rates at public or private sale. The proceeds shall be applied first to the satisfaction of any damages occasioned by Bidder?s breach, then to any other indebtedness owed to Tangible, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys? fees, costs, collection agency fees and costs and any other costs or expenses incurred. Bidder is also liable to Tangible if the proceeds of such sale or sales is insufficient to cover the indebtedness.
36. These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the State of California, regardless of the location of the Auction Sale. Bidder acknowledges and agrees that the competent courts of the State of California shall have exclusive jurisdiction over any dispute(s) arising hereunder, and Bidder hereby agrees that any dispute arising hereunder shall be litigated exclusively in the courts of the State of California, regardless of any party?s current or future residence or domicile. Bidder further agrees that venue shall be in the Tangible Court for Orange County, in the State of California.
37. If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way.
