A mail bid sale is an auction where all bids are submitted in writing.

The mail bid sale helps the collector to better determine the value of a coin, which benefits both buyer and seller, as the coin's selling price is the result of input from thousands of participants and not just the opinion of a single specialist.

DATES : Cutoff date for consignments was December 31 st, 1997; bid sheets must be received by no later than the close of business on June 24 th, 1998 ; Notification of successful bidders and list of prices realized will be sent to bidders on June 30 th, 1998. Settlement to consignors will occur on July 23 rd, 1998. Unsold lots will be offered at their opening prices till July 30 th, 1998.

LOT VIEWING : The coins in this sale will be available for viewing as soon as the catalogues have been shipped. Viewing will be at 36, rue Vivienne, 75002 Paris, and is by appointment only.

THE CATALOGUE : PHOTOS depict the actual size of the coins, and are shot under normal lightning conditions. All enlargements are specified as such. All DESCRIPTIONS have been made in good faith. We have included all the information we thought helpful - not only to the collector but to the scholar as well. This sale contains coins that range from rare to extremely rare. After the sale, the coins will have dispersed in your various collections, but the data will remain available to everyone. GRADING has been strict and realistic. REFERENCE books have been chosen for each coin to help each collector to attribute every coin with precision. A BIBLIOGRAPHY is provided with a listing of all books used in the preparation of this catalogue. The OPENING BIDS have been determined in consultation with each consignor, and constitute the minimum bids that will be accepted. ESTIMATES are, in our opinion, the approximative values of each lot. Of course, this evaluation can only be accurate for coins that appear often enough on the market to satisfy collector demand. As many of the coins in this sale have not been offered for years, estimates for many items may be somewhat conservative. The rarer the coin, the farther off our estimate may be. In any case, it is never intended as a maximum.

BIDS : SUBMITTING THE BID SHEET Write your bids as clearly as possible on the bid sheet. Please follow the sequential lot order to minimize errors. Do not forget to give your mailing address, daytime phone and fax numbers. Please specify if your bids can be increased by 10 or 20% if necessary, in order to obtain the lots you want. You may submit as many bids as you wish and you may set a total spending limit amount cutoff. No bids will be accepted for less than the opening bids. Any bids under these amounts will be ignored. Submission of a bid constitues a guarantee to pay for all lots won. All bidders are responsible for the bids they submit, including bids made on the behalf of third parties. This is not an approval sale. Don't forget to sign your bid sheet! SENDING YOUR BIDS: send us your bids any way you want but the sooner the better due to slow mail delivery. To avoid any delay, please fax a copy of your bid sheet to +33-1-4026-4295 or send by e-mail : If you wish to be sure your bids remain unknown until the close of the sale, please specify so on the envelope ( CGF/ VSO ORDRES, 36, rue Vivienne 75002 PARIS) and include only your bids in the envelope.

WINNING BIDS : Each lot will be won by the highest bidder but he will only pay at the second best bid plus: - 30 francs for coins bringing less than 1.000 francs - 100 francs for coins bringing between 1.001 and 5.000 francs - 250 francs for coins bringing between 5.001 and 10.000 francs - 500 francs for coins bringing over 10.000 francs An exception will be made in the case where the difference between the highest and second highest bid would be less than the normal increment.

If a lot receives only one bid, it will be sold at the opening bid regardless of the amount bid. If two identical bids are received on one lot, the bid reaching us first will win the lot. Coins not sold will be available at their opening prices for fifteen days after the list of prices realised is sent out to the successfull bidders.

RESULTS The realised price list (including unsold lot numbers) is sent to the bidders and to known customers who asked for it. The realised price list includes the realised prices and the highest bid registered for each lot.

EXPORT : Coins sent to countries within the European Union require no formalities. Time and care are needed for coins exported outside of the European Union. We thank you in advance for your patience. Customers wishing their coins exported would help us greatly if they would state clearly and in detail how and where they wish to receive their coins, and what, if any, insurance they might have for such shipments. Actual costs (minimum 200 francs and maximum 500 francs) for shipping and export will be added to your invoice.

PAYMENT : A detailed invoice will be sent to successful bidders including a charge of 50 francs to cover shipping and insurance. This charge does not apply to coins picked up at our premises by the buyer. Upon receipt of payment, coins will be sent registered or by declared value shipment. Excepting if a previous agreement with us exists, if after a period of more than twenty five days after invoicing a coin is still unpaid for, we reserve the right to sell it to the underbidder or to return it to the consignor.

GUARANTEE : We guarantee the authenticity of all coins sold. We further guarantee complete confidentiality. The identities of the bidders and the amount of their bids will not be revealed but the highest bids for each coin which will be included in the realised price list. The auctioneers reserve the right, at their sole discretion, to refuse any item for sale and to refuse any bid.

DISPUTES : Any disputes regarding any item in this auction must be received by us within five days of receipt by the buyer.

COURT OF JURISDICTION is Paris. Submission of bids constitues absolute acceptance of these conditions of sale. The French text is the only text having legal force. This translation is only to serve as a guide to English-speaking clients.