Yesterday, Malaysia Numismatic Society (MNS) held an auction at Jabatan Muzium Malaysia, Malaysia National Museum, Kuala Lumpur. The Malaysia Numismatic Society auction 149 is not a crowded one, less people coming maybe because of the recent Hari Raya Celebration. I came early at 8.40 am because last time when I came at 9.00 am, most of the item on sale at the bourse tables are already gone. This time, I can only see 6 sellers joining the bourse tables with most of them are selling Malaysia banknote. They bring a very nice collection but with a high price though. This is the first time I am not buying anything on the auction day.
The viewing item start at around 9.30 am. All members got to view the auction but not allowed to touch the coins or notes. Some of the MNS committee act as a security preventing members from damaging the items. Most crowd are more interested on item no. 59, Malaysia 1 sen 1976 copper Brilliant Uncirculated. The recent Mavin International Auction, Singapore on 16 July 2011, 1 sen 1976 copper has been closed at a high price, SGD1,400 (excluding tax and commision). Many members want to know if the same item can get a higher price in MNS Auction compare to the Mavin auction. Steven Tan catalog reported only 100 pieces of this coin exist.
The auction start at 10.25am with MNS president Mr. Thenakaran Nadarajah himself as a auctioneer. Mr. Lawrence De Souza act as a bidder for mail bidders. There are only around 30 members of the society who participated in the bidding process. Most of the items on auction come home without any bidder, although Mr. Thena asked members few times if they want to bid for the items. Most of the item reserve price are below the market price. When the time come for item no.59, many members join the bidding. process(Saran Singh, Dickson Niew etc). Its like a battle for the 1976 1 sen copper. In the end, a bidder won the coin at RM3600. A little bit lower then everyone expected (RM4000).
Its a fun auction day for all MNS members. Some of my Facebook friends won their auction at reserve price, congratulations to them. If you remember about that two little kids that I had been talking in the last MNS auction no. 143, they're still coming and joining this auction. Hopefully more younger generation will keep on joining coin collecting as a hobbies. The MNS Auction participant has been decreasing each time, some changes has to be done if MNS want their auction to be popular again. You can read my old posts about these matter.
More pictures and videos can be viewed at Malaysia coin Facebook page.
