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<p>[QUOTE=&quot;kaparthy, post: 21711, member: 57463&quot;]About 1980, the Federal Trade Commission went hunting for coin dealers and they bagged some large ones: PCGS, Heritage, and Tulving.&nbsp; In the settlements, the defendents agreed to never again attempt to market coins as a investments.&nbsp; The defendents also agreed with the FTC that <b>coin grades are subjective opinions</b>, even when issued by experts.&nbsp; </p><p><br /></p><p>Equities dealers are regulated and licensed.&nbsp; Coin dealers are not.&nbsp; Equities are, like commodities, uniform: one hundred shares of GM Common is pretty much like another; a barrel of North Sea Brent is a barrel of North Sea Brent, regardless of which barrel it is.&nbsp; <b>No two MS-62 1881 Morgan Dollars are alike, even when graded by the same service.</b></p><p><br /></p><p><b>No two people get the same price buying or selling the same coin to the same dealer.</b></p><p><br /></p><p><b>Retail/wholesale spreads are very real in numismatics.</b>&nbsp; They are the first barrier that any &quot;investor&quot; must overcome.</p><p><br /></p><p>Price guides have no coins for sale.&nbsp; Most prices are <u>estimates</u>, not actual reported sales. If you look in the WSJ, IBD, CNN Money, or Hometown Chronicle Business Section, you will see the same prices (subject to time, of course) for the same stocks, bonds, etc.&nbsp; <b>That is not the case in numismatics.</b> Different price guides report different prices for the same coins over the same time frame.</p><p><br /></p><p>My heroes are Scrooge McDuck and the Ferengi because they do what I cannot.</p><p><br /></p><p>If you think you can make money, please, enjoy the process!&nbsp; We all do![/QUOTE]</p><p><br /></p>

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