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Message:: [QUOTE="900fine, post: 684675, member: 6036"]You are correct in one regard - researching the past price history of their respective grading is a very smart thing. In fact, it's mandatory. But there's more to the picture. Let's contrast a rare coin price vs. a commodity - for instance, a share of stock. Anyone can look up the fixed price of a share of stock. Today the price of Stock X is $72 / share. Are all shares of Stock X the same price ? Yes. Why ? Because all shares aare exactly the same*. That is not true of rare coins. Let's pick an 1876-CC 20c in MS64. If we look at all sales, we find a wide variance in price. So I will challenge the investors out there - can you tell me why the realized prices vary so much ? As an instructive thought exercise, list the reasons why rare coin prices are so variable (in direct contrast to stock prices). I'm certain Mike, Mark, and Doug can, but I'll ask you guys to hold off.    * For the purposes of this discussion, let's ignore the difference between common stock and preferred stock.[/QUOTE]