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<p>[QUOTE=&quot;-jeffB, post: 2736684, member: 27832&quot;]Ah, yes, the coin auctions where there&#039;s no online participation, not even any online announcement that it&#039;s going to happen. Aren&#039;t those the ones where super-desirable coins were going for near-melt prices?</p><p><br /></p><p>You seem to believe that that makes those very low prices the <i>natural</i> level for those coins, with online and big-auction prices artificially high. And I wouldn&#039;t be a bit surprised if you&#039;re seeing less participation in those auctions, with lower prices.</p><p><br /></p><p>But I think most of us see those auctions as a highly distorted market, with unnecessary limits on competition (since most interested buyers will never hear of them), and unnecessary (or at least atypical) limits on information flow. I don&#039;t claim deep understanding of the Efficient Market Hypothesis, but my working assumption is that you don&#039;t improve price determination by <i>reducing</i> access to information...?[/QUOTE]</p><p><br /></p>

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