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<p>[QUOTE=&quot;World Colonial, post: 2480556, member: 78153&quot;]My comments were more longer term.</p><p><br /></p><p>I suspect there many buyers of the more expensive coins are actually buying above their real financial capacity.&nbsp; It isn&#039;t something I can prove but say it because first, the people you are describing can do so because they are beneficiaries of the current asset bubble which has created a lot of fake wealth which came from nowhere and that&#039;s exactly where its going to go back to, eventually.</p><p><br /></p><p>Second, as far as I am concerned, anyone who has to rely on having a job at all isn&#039;t really in a position to be buying five figure coins.&nbsp; The same argument can be made for four figure coins and I will admit I both need to have a job and have bought them, but the distinction is that I could hold out for a long time if I had to do so before I would have to sell any of my collection.</p><p><br /></p><p>I don&#039;t believe that many of the buyers who pay these really inflated premiums for otherwise common coins really like the coins as much as you might believe.&nbsp; I&#039;m not saying they aren&#039;t real collectors but that they have high confidence that the coins they buy will hold most, all or even more of the value than they paid for it.&nbsp; You can find these collectors on the NGC and PCGS forums because quite a few of them buy this kind of coin.</p><p><br /></p><p>The premium coins you are describing which participate in this bifurcated market, most of their appeal is actually in their price, not based upon their merits.&nbsp;&nbsp; This should be self-evident by looking at their value decades ago before coins were bought as &quot;investments&quot;, TPG existed and specialization was far less evident.&nbsp; These coins presumably sold for noticeable premiums but a small fraction of what they sell for now.&nbsp; I see them as being more popular now from a combination of the internet making most coins easy to buy which reduces the prior challenges of finding coins as in the past, the perception of their future economic value and coins which were a lot more affordable in the past are hopelessly out of reach of the lopsided proportion of the US collector base.&nbsp; For the latter, think early US federal coinage.&nbsp; When I started in 1975, most of these were expensive but many even in low grades now have increased far above incomes.[/QUOTE]</p><p><br /></p>

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