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<p>[QUOTE=&quot;GoldFinger1969, post: 26700099, member: 73489&quot;]I really enjoyed re-reading this, BS, because I just happened to pick up an MS-63 CAC OGH 1923 Saint at FUN 2026 (pics here elsewhere). <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p><b>A key factor to keep in mind is the supply availability in all the grades AND in the aggregate. </b> You have 3 types of buyers for most PM coins, but especially for pre-1933 gold:</p><ul> <li><b>The Registry buyers....<span style="color: #ff0000">price-insensitive</span></b>, often determining pricing in all the Mint State grades and sometimes lower if total supply available is very small (i.e., Type 1 DEs or Fab Five Saints).&nbsp; Might only be 500-1,000 &quot;serious&quot; players here, give-or-take.</li> </ul><p> <ul> <li><b>Type Collector buyers....individuals here can buy 1 or 2 coins.....or dozens.</b>&nbsp; 25,000 to 50,000 potential buyers here maybe with an average of 5-10 coins (or maybe more).</li> </ul><p> <ul> <li><b>Investment buyers.....the largest pool but will ONLY buy if at gold bullion melt or close to it.</b>&nbsp; Don&#039;t care for numismatics, just want to hold gold...might be OK paying a 3-5% premium for a few coins but that&#039;s it.&nbsp; <b><span style="color: #ff0000">Price-sensitive.</span></b></li> </ul><p><span style="color: #000000">If the Registry guys can&#039;t find enough coins to satiate their demand...the price for the other 2 groups will be prohibitive and either eliminate them or cut them back in quantity and frequency of purchases.&nbsp; If Type Collectors aren&#039;t satiated....then the Investment buyers and tele-marketers and info-mercial people won&#039;t be able to sell/buy the coins as bullion subsitutes (think Fairmont TV commercials).</span>[/QUOTE]</p><p><br /></p>

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