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<p>[QUOTE=&quot;wesdavidson, post: 746811, member: 18646&quot;]Silver surfer, </p><p>&nbsp;&nbsp;&nbsp; there are 4 kinds of rarity at least, </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; (a) absolute rarity, the 1804 dated silver dollar, old mormon gold, etc. grade is discussed after authenticity, medeval, ancient coins, confederate gold dollars . Price may or may not reflect actual populations, is often not mentioned at all. May be too rare to have demand or published prices. As a group these are fairly common, as in there are many low mintage issues out there, especially when including world coins. Dealers and collectors are specialists. Wide overlap with &quot;orphans&quot;.</p><p><br /></p><p>&nbsp;&nbsp;&nbsp; (b) condition rarity, common coins, authenticity is assumed, fair to small quantities in very good preservation. most high grade morgans. Many were minted, a few have been saved in high ms grades. Easily seen in auctions of highest grades of common coins. easily identified, G4 price a couple of times face or melt, high grades cost more than a new car. These are often called &quot;not worth the money&quot; unless you are putting together a bragging set. Spectacular color or toning. These are the coins that set the expert dealers apart. The price will be several times &quot;book&quot;.&nbsp; Also often faked or misgraded.</p><p><br /></p><p>&nbsp;&nbsp;&nbsp; (c) demand rarity, 2009 US cents, high grade late coins. 1909 s vdb.&nbsp; Demand is high, demand causes trade at multiples of face or bullion value. &quot;belly button coins&quot; everyone &quot;needs&quot; one. Also called &quot;red book rarities&quot; may be collected and traded by the roll or bag. PRICE MAY BE LINKED TO GRADE see (b).&nbsp; CC Morgans. Enough supply to make a market. Identified by the stacks of slabbed examples or rolls on dealers tables. Usually these are the ones needed to fill the blue and green cardboard coin folders. These are the ones that pay all the plane tickets for show dealers, and pay the 3rd party graders salaries.&nbsp; We laugh and joke about them, but they pay the bills.</p><p><br /></p><p>&nbsp;&nbsp;&nbsp; (d) COMBINED RARITY, c+b+a = most high priced US coins. high demand outstrips total supply in case of a, or high grade supply as in b.&nbsp; </p><p>&nbsp;&nbsp;&nbsp; </p><p>&nbsp;&nbsp;&nbsp; the last? (orphans) nice coins, some are ugly, may be very rare with few minted, may have &quot;lots of history&quot;, little or no demand. All 34 will be melted before this metals price bubble subsides. US gold dollars in less than perfect condition (ex jewelry) are in this category, as are many world coins.&nbsp; </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; The REAL last- I promise- is the unknown rarity, these are coins that are assumed to be in good supply, in the grades desired. They pop up when the demand slams into a lack of supply. They are generated when a type of coin is melted (or not saved) in large quantities in several places at once. US trade dollars are an example ( once junk, melted in quantity, now in demand).&nbsp; I think we will find that many junk silver US coins will be there in few years, as well as many pre-euro coins (50,000 tons melted a couple of years ago), and many world silver issues. The general practice of assuming that mintage numbers are current, and that book prices are up to date, leads to the excessive melting.&nbsp; Of course the lack of supply may simply lead to a case of many orphans.[/QUOTE]</p><p><br /></p>

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