Did You Know that Stack’s Bowers Galleries will host their first Precious Metals Auction of the year on January 13, 2021? It will feature over 370 troy ounces of gold and 3,600 troy ounces of silver. Since Stack’s Bowers Galleries started these Precious Metals Auctions, they have been a huge success, in part because there is no buyer’s premium, but also because of the percentage format. Instead of bidding by a set dollar increment, bids reflect a percentage of spot price. For example, a lot may receive a bid of 125%, which means that the winning bidder will purchase the item for 125% of the bullion value.