A coin auction is a public sale where collectors and enthusiasts can buy and sell coins. Participants place bids on coins they are interested in, and the highest bidder at the end of the auction wins the item. These auctions can take place in person or online, allowing a wider audience to participate. Typically, coin auctions feature a variety of coins, including rare and collectible pieces. Auction houses or platforms often provide detailed descriptions and photographs of each coin, helping bidders make informed decisions. This process is popular among numismatists, who study and collect coins for their historical and monetary value.