Collecting on a Budget

Cupboard Sale

Published September 9, 2025 | Read time 3 min read

By Andy Smith

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Spectacular rarities are often the subject of news coverage in the numismatic world. From time to time, a particular collection or specific lot will also capture the attention of the general public. These opportunities help promote the hobby and business side of collecting to a degree that would not be possible otherwise.

However, not all collectors have seemingly limitless budgets. It is interesting to read about the sale of a gold $4 Stella or an octagonal Panama-Pacific gold $50 and dream of owning one, but for most, buying such pieces is a dream that cannot be realized with personal budgetary constraints. These types of coins are left to those few who can afford such acquisitions. 

Value Sale

What are the options and dedicated venues for budget-minded collectors? An inexpensive, yet interesting, niche for low-priced lots is the new “cupboard sales” concept piloted by Davissons, Ltd. of Cold Spring, Minnesota. Its inaugural Cupboard Sale 1 that ended on May 21 was billed as “A VALUE SALE—All lots estimated at or below $100” with no buyer’s fees. The term cupboard “reflects where many of them have been for the last while.” 

Prospective participants could submit bids online or by mail, email, phone, or fax. Photos of the 168 lots were available for perusal on the company’s website. Davissons described its initial foray into this type of sale:

“We have been careful to select only desirable pieces and have estimated every lot conservatively. The sale starts with an interesting group of Ancient Greek & Roman coins, and progresses through English Hammered and Milled coins, British Trade Tokens, World Crowns, US type, some Americana with satirical and libertarian messages, a group of carefully engraved “love tokens” on 19th century coins, and a couple of medals.”

This satirical 1837 Hard Times copper token that
criticized the government’s economic policies sold for $220
in Davissons’ Cupboard Sale. (Photo: Davissons, Ltd.)

Budget-Minded Lots

Although these sales are focused on items valued up to $100, some pieces exceeded that amount. For token collectors, Lot 141 proved to be a popular item. Estimated at $50, it sold for an impressive $220. The 1837 Hard Times token criticized the economic programs of U.S. presidents Andrew Jackson and Martin Van Buren. It pictures a tortoise carrying a lockbox with SUB TREASURY on its back and the legend EXECUTIVE EXPERIMENT around it. The reverse depicts a jackass and reads, I FOLLOW/IN THE/STEPS/OF MY/ILLUSTRIOUS PREDECESSOR, a quotation by Van Buren referring to Jackson. Graded Very Fine by the auction house, it was described as having “attractive brown tone.”

Davissons expressed its desire in offering its first cupboard sale that “we hope you enjoy bidding in our new category of ‘value auction’—and pick up some fascinating and accessible bits of history!” Based on the results, it appears Davissons was successful in generating interest among collectors at this price point. Given that its target audience spans the globe and millennia, the auction house will hopefully continue to provide similar events for its customers and others looking to purchase these types of items.


A version of this article appears in the October 2025 issue of The Numismatist (money.org)