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Message:: [QUOTE="900fine, post: 213573, member: 6036"]That is a huge Huge HUGE issue. Take a look at that graph. It showed an ENORMOUS surge in 1989, then an enormous collapse, then a gradual upwards trend. Most price graphs show little ups and downs which add up to a general trend. Anytime one sees an enormous one-time anomaly like the coin prices boom / crash of 1989 / 1990, it is wise to ask "What was unique about that time period ?" That was shortly after PCGS and NGC came on the scene... which - IN THE MINDS OF INVESTORS - transformed high-end Rare Coins from "dangerous territory - specialists only" into a standardized commodity. In their minds, all certified MS-64s are the same, and thus interchangeable in the marketplace. Commodities. In their minds, they no longer needed to worry about forgeries, alterations, improper cleaning, counterfeits, overgrading... so it was safe to throw money into rare coins. And they did. Obviously, they overdid it. When they began profit-taking at the peak, money rushed out and the market collapsed.  Maybe. "Never say never again". But in many ways it was a unique setting. Personally, I think things have settled down into long-term trends - which are up over time. I doubt there will be another mega-peak / crash. But who knows ... ?[/QUOTE]