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PAYMENT:

A detailed invoice will be sent to successful bidders including a charge of 10 euros 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.

GUARANTEE:

We guarantee the authenticity of all coins sold without time limit up to the price paid for the coin. 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 realized 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. Submission

of a bid constitutes full acceptance of the mail bid sale terms.

COURT OF JURISDICTION

is Paris. Submission of bids constitutes 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.

PRICE OF CATALOGUE :

Until

June 21

st

 2012

the price of the catalogue is

10 euro

, and

20 euro

afterwards, including

the realized price list.

REFERENCE RATES ON 28

th

April 2012

USA 1$

0,7544 €

SUISSE 1 CHF

0,8318 €

ANGLETERRE 1£

1,2275 €

JAPON 100 JPY

0,94 €

OR (kilo)

40318 €

OR (Napoléon de 20 Francs)

234,05 €

GRADINGS

FRANCE

USA

ANGLETERRE ALLEMAGNE ITALIE

ESPAGNE

B

(Beau)

from 6

to 14

VG

(Very good)

SGE

(Sehr Gut

Erhalten)

B

(Bello)

BC

(Bien

conservada)

TB

(TrèsBeau)

from 15

to 39

F

(Fine)

S

(Schön)

MB

(Molto bello)

BC +

TTB

(Très très

beau)

from 40

to 54

VF

(Very fine)

SS

(Sehr schön)

BB

(Bellissimo)

MBC

(Muy bien

conservada)

SUP

(Superbe)

from 55

to 62

XF / EF

(Extremely

fine)

VZ

(Vorzüglich)

SPL

(Splendido)

EBC

(Extraordinia-

mente

bien conser-

vada)

SPL

(Splendide)

MS 63

and 64

MS

(Mint State)

Fast stempel-

glanz

-

-

FDC

(Fleur de

Coin)

MS 65

to MS 70

UNC

(Uncirculated)

Stempelglanz

FDC

(Fior di Conio)

SC

(Sin circular)

- 7 -

MAIL BID SALE TERMS