Auction Terms

This Terms of Use (hereinafter referred to as the "Terms") is for the auction service (hereinafter referred to as the "Service") provided on this website by Retrocoin Co., Ltd. (hereinafter referred to as the "Company"). It defines the terms of use. All registered users (hereinafter referred to as "Customers") shall use the Service in accordance with these Terms.

• Article 1 (Genuine Product Guarantee)

  All auction items listed in the catalog are guaranteed to be genuine unless there are special notes (reference items, fantasies, non-returnable items, etc.).
  In the unlikely event that you have any doubts about the authenticity of the product based on objective data, please notify us within 7 days of receiving the successful bid product. We will take responsibility and respond.
  After the end of this period, we will not be able to accept returns as the settlement procedure for the exhibitor has already started. On the other hand, slab coins (coins in a case with appraisal by an appraisal company) are guaranteed to be genuine under the responsibility of the appraisal company, and there is also a guarantee system.
  I understand and agree to this before bidding, after payment to the exhibitor is completed, even if there are discrepancies in the appraisal results, we will not be responsible for determining the authenticity of the item, nor will we be able to accept returns based on one side's opinion.

• Article 2 (Condition)

  Due to the nature of collectible coins, many are dated and rarely in perfect condition. We put a lot of effort into condition evaluation and appraisal, and we do our best to provide information in catalogs, etc., but there is a limit to conveying the complete information of the exhibit.
  If you wish to participate in the auction, we strongly recommend that you participate in the preview as much as possible, inspect the actual product with your own eyes, and bid at your own risk and judgment. After the successful bid, we will not respond to any cancellation of the sales contract due to the difference between the information described in the catalog and the successful bid item.
  
  Please refer to the following for the state evaluation. The numerical rank in parentheses is a rough guideline.
  Regarding Slabcoin, in addition to the evaluation by a third-party appraisal agency, we have also included the evaluation by our experts. Please refer to it as well.
  
  

  • Unprecedented product (MS68-70)

    Highest rank. A rank that is seldom given because it is an unprecedented rank that surpasses perfection. Not to mention that there are extremely few bag marks, not to mention that there are extremely few bag marks, it has an appearance reminiscent of a work of art, such as something that has a beautiful tasteful color of the times. Almost a phantom rank except for modern ones.

  • Completely uncirculated (MS65-68)

    Among the uncirculated and unused coins, there are extremely few bag marks (bag marks), including during manufacturing and transportation.

  • Uncirculated item (MS62-65)

    An unused item that has been stored before going into distribution. As a general rule, it retains the primary colors of the time it was first issued, but tones appropriate for the era and light stains are permitted. Edges and serrations are sharp and orderly. Depending on the degree of deterioration of the tone or surface that impairs the beauty of the product, a minus (-) sign or additional explanation may be attached even if the product is in unused condition.

  • Quasi-unused item (MS60-62)

    A state that seems to be uncirculated or close to uncirculated. From undistributed items with a large number of bag marks, to items in the very early stages of distribution where most of the surface is unused. This includes items that have lost their original color due to washing, etc., or that have slight hairlines.

  • Extreme beauty product (AU50-MS60)

    Best condition among coins in circulation. While it retains what appears to be virgin surface, it also shows some wear on the raised areas of the design. Minor scratches can be seen in the undesigned field area.

  • Very Fine condition (VF35~AU50)　

    Relatively beautiful condition among circulating currency. There is some wear from distribution throughout, and although there are some areas that are reduced around the convex parts, there is no wear to the extent that the main design is damaged. Including tones, minor stains and cleaned items.

  • Fine Condition (並品) (VF30 to XF40)

    The typical state of money in circulation. Traces of circulation and wear are found throughout, and some parts with the disappearance of the design are also confirmed. This includes tones, smudges and polishes. 並品 is sometimes subdivided into 上品, 佳品, 並品, and so on.
  Below are our own indicators. We evaluate the condition from three factors: luster, texture, and production.

  • Luster (1-5)

    5 for the primary color gloss at the time of manufacture, 4 for a product that leaves a dazzling gloss that occupies most of the primary color gloss, 3 midtones, 2 for the state that has a light tone but has not lost its luster, a product that is completely covered with tones is rated as 1.

  • Texture (1-5)

    5 for a state with extremely rich texture such as a beautiful tone and eye-catching luster, 4 for a state in which rust and light stains coexist in spite of the beautiful color tone, 3 for intermediate states, 2 for a state that has points that are a little worrisome to the appearance, such as a light wash or a tone that lacks glamor, 1 is the characteristic state where the taste is divided.

  • Crafting (1-5)

    5 for proof-like goods with rich contrast of hallmark unevenness, 4 for a product with beautiful neat stamping, 3 for standard strike, 2 for items with slightly uneven engraving and conspicuous satin finish, 2 for items with slightly uneven engraving and conspicuous satin finish.

• Article 3 (Reference price)

  The price listed in the catalog is a reference price (expected bid price). Reference prices are posted with reference to past transaction examples, and are not binding on actual auction prices.

• Article 4 (Participation in Floor Auctions)

  The Floor Auction is open only to Registered Participants and their authorized representatives (entrusted bidders).
  Those who wish to participate must register at the venue on the day of the auction and receive a paddle with their bid number printed on it.
  If you are doing business with us for the first time, we may require identification documents and a bid deposit. When you present your identity verification document, we will make a copy of it.
  The auction proceeds in principle in the order of lot numbers. During the auction of the item you wish to bid on, raise your paddle to the price presented by the auctioneer to indicate your intention to participate in the auction. Also, by lowering the paddle, you indicate that you do not want to participate. You can enter the auction by verbally quoting the price, but the paddle must still be raised.
  Please refer to the following for bid price increments.
  
  
  • Less than 10000 yen in increments of 500 yen
  • 10000 yen or more and less than 50000 yen in increments of 1000 yen
  • 50000 yen or more and less than 100000 yen in increments of 2000 yen
  • 100000 yen or more and less than 500000 yen in increments of 5000 yen
  • 500000 yen or more and less than 1000000 yen in increments of 10000 yen
  • 1000000 yen or more and less than 5000000 yen in increments of 50000 yen
  • 5000000 yen or more in increments of 100000 yen
  You cannot bid below 70% of the estimate.

• Article 5 (Live Auction Participation)

  Please register for participation from our website by the day before the auction, and log in when the auction starts. You can participate in the auction in real time via the Internet.
  If you are doing business with us for the first time, you will be required to present your identity verification documents. If you would like to bid for the price displayed on Your Next BID during the auction of the item you wish to bid on, please click the PLACE BID button. If it becomes your right, Your Bid will be displayed in the current price column. After the Fair Warning is displayed, the successful bidder will be confirmed.
  If the live auction system cannot operate normally due to sudden problems such as system failures or poor internet connections, the auction may unavoidably proceed independently at the floor auction site.

• Article 6 (telephone bidding)

  Our staff will connect the auction site and the customer by phone, and have them participate in the auction in real time.
  We will call you about 10 lots before the relevant lot. Participation conditions are that you must be able to connect by phone on the day of the auction, that you have received your application at least 3 days before the auction, and that you wish to have a lot with an expected successful bid price of over 100,000 yen. Please note that we may not be able to meet your request due to limited telephone lines.
  After the Fair Warning is displayed, the successful bidder will be confirmed.

• Article 7 (Advance bidding)

  You can participate in the bidding by filling in the online catalog and sending the pre-bidding application form.
  When sending the pre-bid application form, please send it by mail or fax so that it arrives before the deadline. Any bids received after the deadline will be invalid.
  If you are making a transaction with us for the first time, you will be required to present your identity verification documents. At the time of registration, please prepare the electronic data of your identity verification documents. A bid deposit may also be required. In addition, bids that do not reach the stipulated increment price will be rounded down at the increment price. The bid price can only be changed by raising the limit (raising the price) during the pre-bid acceptance period. We do not accept any cancellation of bids or lowering the limit (lowering the price), as it would cause confusion with the current price change. Please double check the lot number and bid price before sending.
  If there is a part that is difficult to decipher in the contents of the document you have filled out, we may call you for confirmation.

• Article 8 (Auctioneer)

  The auctioneer judges the starting price and price range of the auction based on the situation of the venue and the value of the item, proceeds with the auction under its own authority, decides the successful bidder on the spot, or raises the price again and holds the auction. it is possible to proceed. In addition, the Auctioneer has the authority to decide how to deal with any problems that arise during the operation of the auction.
  Advance bidding below 70% of the reference price is not allowed, but the auction may be started with a lower price at the discretion of the auctioneer only for open lots.

• Article 9 (Bid)

  The auctioneer calls the highest amount, accepts the highest bidder, and determines the winning bidder. At this point, the sales contract will be concluded. Cancellation after the successful bid is confirmed is not possible.
  If there are 2 or more bidders with the same amount in advance bidding, the one with the earlier date of acceptance will be given priority.
  Payment after the successful bid must be made within 10 days from the date of the auction by transferring the total amount including shipping and taxes to our designated account or by registered mail. In addition, the successful bidder will be responsible for the transfer fee, the postage fee for registered mail, and any fees incurred in remittance and receipt by our company. The settlement currency shall be Japanese Yen.
  In addition, if you do not complete the payment of the successful bid price within the payment deadline, we will charge you a new amount with the current interest rate added.

  About payment amount

  Example) In the case of a successful bid price of 100,000 yen
  　1. Contract price 100,000 yen
  　2. Successful bid fee (11%) 11,000 yen
  　3. Total amount 111,000 yen
  　4. In the case of shipping (Shipping insurance fee separate principle 500 yen)

• Article 10 (Delivery of successful bid items)

  We accept delivery of successful bid items by the following methods.
  Take-out on the day: Reception will start at 14:30 (tentative). It may take time to prepare.
  Handing over at the store　We accept orders from 3 days after the auction date. Advance reservations are required, so please let us know when you plan to visit us.
  Shipping by our company　From 3 days after the auction date, we will prepare as needed after confirming payment.

• Article 11 (Returns)

  We will only accept the return of successful bid items if there is an error in the description of the item in the catalog (excluding cases in which the incorrect display has been identified and corrected in advance).
  In this case as well, the return deadline is within 7 days of receiving the successful bid item. In addition, if there is a description in the catalog that returns are not possible, we cannot accept returns for any reason.

• Article 12 (Storage of exhibits)

  If you wish to exhibit at our auction, please fill in all the necessary items on the exhibition application form and send it to us together with the exhibit (please contact us if you wish to receive directly).
  When sending, be sure to keep a copy of the exhibition application form as a copy and send it by "registered mail" or "courier service with insurance". In the unlikely event that an unexpected situation occurs during transportation, we cannot take any responsibility.
  If there are any deficiencies in the contents of the exhibition application form, and it is impossible for us to make a judgment, and if the exhibitor is unable to confirm it, we may not be able to accept the exhibition.
  We will issue a receipt for the items we have entrusted to you.

• Article 13 (Exhibit Appraisal)

  In principle, items to be exhibited that have not been appraised by a third party will be graded by PCGS or NGC. After the grading work is completed, we will inform you of the appraisal results together with a provisional reference price.
  Please note that the grading service requires a certain amount of time. It may not be in time for the next auction or it may take more time. please note that.

• Article 14 (Exhibit Appraisal Editing Meeting)

  Items to be exhibited will be confirmed and reviewed by an appraisal meeting consisting of our company and outside experts, and we will inform you of the scheduled auction. We may postpone the listing for some reason, including duplication of the listing content.
  As soon as the appraisal meeting is over, we will start creating the catalog. We do not accept cancellations of listings after the catalog creation process has started.

• Article 15 (Reserve Price)

  You can set a reserve price (minimum selling price) for your items. When setting a reserve price, please indicate it in the exhibition application form.
  In addition, a reserve price will be set, and if the successful bid price fails to reach the reserve price, a non-successful bid fee will be charged.

  Handling reserves

  Example) When the reserve price is 100,000 yen
  　1. Contract price 100,000 yen
  　2. Reserve price 100,000 yen
  　3. Successful bid fee (11%) 11,000 yen
  　4. Listing fee 3,300 yen (including slab fee)
  　5. Total amount 85,700 yen (closed)
  
  Example) When the reserve price is 110,000 yen
  　1. Contract price 100,000 yen
  　2. Reserve price 110,000 yen
  　3. Unsuccessful bid fee (5.5%) 5,500 yen
  　4. Listing fee 3,300 yen (including slab fee)
  　5. Total amount 8,800 yen (exhibited items will be returned)

• Article 16 (Information on successful bid price)

  As soon as the auction ends, we will notify you of the results. At the same time, we will publish the successful bid results on our website.

• Article 17 (Information on Settlement)

  Within 30 days after the end of the auction, we will prepare and report the invoice, and remit the amount after deducting the following fees by the method desired by the exhibitor.
  

  commission

  Listing fee　3,300 yen (per item)　Includes miscellaneous expenses such as appraisal costs. *Subject to change without notice
  Successful bid fee　11% of winning bid (including consumption tax)
  Unsuccessful bid fee　5.5% of winning bid (Free if you leave the lowest price to us)
  
  

  About payment amount

  Example) In the case of a successful bid price of 100,000 yen
  　1. Contract price 100,000 yen
  　2. Successful bid fee (11%) 11,000 yen
  　3. Listing fee 3,300 yen (including slab fee)
  　4. Total amount 85,700 yen

• Article 18 (Scope of exhibits)

  Japanese coins (excluding cash coins pre-Meiji and han-satsu), Japanese banknotes, foreign currency, and other items specified by our company
  In principle, products with a reference price of 10,000 yen or more are eligible, but this does not apply to products specified by our company.
  Basically, we will put all items in a slab case or attach an appraisal and put them up for auction.
  
  
  Implementation on 1st May 2023