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<p>[QUOTE=&quot;kaparthy, post: 24254, member: 57463&quot;]That brings up several key points.&nbsp; As I said, <b>numismatics is not a mature market <u>and it never can be</u>.</b>&nbsp; </p><p><br /></p><p>1.&nbsp;&nbsp; Coins, banknotes, medals, etc., etc., are not identical.&nbsp; No two are alike, even for the nominal &quot;grade&quot; assigned.&nbsp; Companies do not really issue stock certificates anymore, but the point is that if you bought 100 shares of General Motors, you would&nbsp; not care if they were sequentially numbered, radars, liar&#039;s poker, or whatever.&nbsp; You would not care if they came folded. All shares are alike.&nbsp; However, in collecting, we want the best material (for the price we can meet) and the collector with the better eye or superior knowledge comes out ahead.</p><p><br /></p><p>2.&nbsp; Prices in guides are for <u>average</u> items in the grade.</p><p><br /></p><p>3.&nbsp; Prices in guides are for <u>undamaged</u> items and <u>unremarkable</u> examples.&nbsp; There is no such thing as &quot;Very Fine with Rim Nicks&quot; or &quot;AU-58 With Superior Eye Appeal.&quot;&nbsp; </p><p><br /></p><p>4. Price guides must be composed from past transactions, but the past is irrelevant.&nbsp; So, today&#039;s transactions set new prices to be reported tomorrow.&nbsp; Those new prices are always the result of transactions between people with &quot;advanced&quot; (in either time or depth) knowledge.</p><p><br /></p><p>5.&nbsp; Greysheet?&nbsp; There are coins that dealers pay Red Book for.[/QUOTE]</p><p><br /></p>

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