Hi Michael,
Enjoyed your note - but I do not agree with you. In my opinion, minimums cause little or no difference in bidding. I believe the main factor is the material being offered.

In support I suggest you think about last Thursday's (Oct. 15th) Prodigy auction. I placed a 50 cent Fremont in the auction with a minimum of $40.00. The piece received many bids and finally sold at $51.00. Why? It is because MANY collectors do not have this chip.

This I believe is the key factor. Many times material is offered that all of us have. Why should individuals bid if they already have the piece? The answer is: they will acquire a second chip if "the price is right". This is where no minimums are dangerous. Bob Orme's explanation is very complete where he describes good chips going for under face value.

Michael, you already know what I think of auctions in general. However, I will participate in Proodigy's chat auction to help keep the board alive. Until chips are placed in an auction that collectors do not have - the results I fear will be the same, very little if any bidding. Thanks for your note and take care! Best, Jim