Gary, Auction House purposely set estimates ranges low, to stimulate bidding activity. Also, since "they" set the range, that also effects any reserve that is attached to any coin sale. Most Auction Companies only allow a reserve of 60% of the low estimate, so in effect you have no reserve at all, because most sellers wouldn't think of selling there coins for 60% of the low end of the starting range. Just a few of the tricks involved with auction sales!