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<p>[QUOTE="kaparthy, post: 21060, member: 57463"]1: Then the bargains are in those areas of missing knowledge. If you cannot find a specialty club serving a segment, that is a clue. If you cannot find a book on a subject, that is a red flag, siren, bells, and flashing lights.</p><p><br /></p><p>2: The most mature markets operate on "perfect knowledge." Everyone knows what everyone else knows and communication is instanteous. (Of course, we are limited creatures. We both "could" read Van Allen & Mallis, but I have not; have you?) With weekly coin newspapers and especially internet forums such as this, news travels fast. Coin dealers have their own networks, personal, print, and electronic.</p><p><br /></p><p>2a: Numismatics is an ideal marketplace for two reasons:</p><p><br /></p><p>*It is a hobby.* So, we are all idle, mentating philosophers here, not sweating laborers happy not to starve to death while validating Adam Smith. So, this is a platonic ideal of human interactions.</p><p><br /></p><p>*We buy and sell money.* It is a meta-market, where the norms and expectations of capitalism are distilled and taken neat.[/QUOTE]</p><p><br /></p>
[QUOTE="kaparthy, post: 21060, member: 57463"]1: Then the bargains are in those areas of missing knowledge. If you cannot find a specialty club serving a segment, that is a clue. If you cannot find a book on a subject, that is a red flag, siren, bells, and flashing lights. 2: The most mature markets operate on "perfect knowledge." Everyone knows what everyone else knows and communication is instanteous. (Of course, we are limited creatures. We both "could" read Van Allen & Mallis, but I have not; have you?) With weekly coin newspapers and especially internet forums such as this, news travels fast. Coin dealers have their own networks, personal, print, and electronic. 2a: Numismatics is an ideal marketplace for two reasons: *It is a hobby.* So, we are all idle, mentating philosophers here, not sweating laborers happy not to starve to death while validating Adam Smith. So, this is a platonic ideal of human interactions. *We buy and sell money.* It is a meta-market, where the norms and expectations of capitalism are distilled and taken neat.[/QUOTE]
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