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<p>[QUOTE=&quot;satootoko, post: 75804, member: 669&quot;]I&#039;m afraid you have no concept of how the exchanges work.</p><p><br /></p><p>Stock exchanges are a place to buy and sell shares of ownership in corporations, which have met various governmental and exchange requirements include having a large enough total capitalization of the company, having enough shares outstanding to provide for liquidity - in other words there will likely be a buyer when you want to sell and a seller when you want to buy - and literally hundreds of other requirements.&nbsp; A typical New York Stock Exchange company will have hundreds of millions of shares outstanding, some have more than 1-billion.</p><p><br /></p><p>Commodity markets are <b><u>only</u></b> designed to deal with &quot;fungible goods&quot;.&nbsp; The legal definition of that term is that every unit is equal in quality and value to every other unit.&nbsp; One gallon of unleaded gas is worth the same as another gallon of unleaded gas at the bulk wholesale level; each of the individual grains of wheat in a 10-ton container are worth the same; etc.&nbsp; </p><p><br /></p><p>For a commodity to trade on an exchange it must, like a stock, qualify to be listed.&nbsp; Among the factors considered are the amount of the commodity available to trade, the number of potential traders, and how to handle transactions where the buyer wants delivery.&nbsp; Realize that with respect to coins, that means that there would have to be separate trading contracts - with each contract being for a standardized quantity of identical coins - for MS60 1881CC Morgans, MS65 1924S Peace Dollars; PF67 1971S Ike dollars; EF-40 1834 Capped Head Quarter Eagles; and so on and so on and so on.&nbsp; (And don&#039;t forget that even if we foolishly say that <b>every</b> PCGS MS63 1918D Buffalo nickle is equal to every other PCGS MS63 1918D Buffalo nickle, it isn&#039;t automatically the same as an NGC MS63 1918D Buffalo nickle, or even as a PCGS MS63 1938S Buffalo nickle.</p><p><br /></p><p>Bullion can be traded on the commodity exchanges precisely because when all you are concerned about is the quantity, each ounce in 1,000 ounces of gold is an ounce of gold is an ounce of gold is an ounce of gold.&nbsp; That doesn&#039;t apply to collectible coins - and what <b>collector</b> wants 1,000 of the same coin, with the same date and mintmark, and in the same condition anyhow? <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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