How long is this "auction"?
After the minimum price is met, I will close the auction if there is no new interest for a couple of days. So, I predict this 'auction' won't be long-lasting

Well, if each new bid extends the auction by 2 days, I predict this could go on for a long time as I could wait 1.5 days to place a bid.
Possibly better to set an end date/time/time zone, etc. Also determine who pays what kind of shipping and who pays escrow should it be decided? For me, I don't require escrow as I wouldn't be paying first. So, maybe change the time and terms a little to be more clear.

I bid 1.475
I would be happy to accept the coin first before payment. Or use a mutually accepted escrow.
Fair point. Edited top post. End of auction is Sunday 18th May, 24:00 GMT.