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<p>[QUOTE=&quot;calcol, post: 2776032, member: 77639&quot;]You make good points, Kurt.&nbsp; When it comes to rarity, I think perception of permanence of rarity plays a role.&nbsp; We see this in several areas in numismatics.&nbsp; One is the possibility of discovery of a hoard; this is probably a bigger factor for ancient coins, but certainly has happened for U.S coins.&nbsp; GSA and SS Central America come to mind. Another concern is conditional rarity.&nbsp; If a Morgan dollar of a particular year and mint has only a few certified MS67s, it&#039;s possible that in a few years, there may be dozens.&nbsp; A last example is MS70 modern coins.&nbsp; Who knows how many thousands are in drawers and closets waiting to be certified?</p><p><br /></p><p>Yup, there are folks who don&#039;t consider these factors and who may or may not regret it.&nbsp; But a lot of serious collectors do consider these factors and put their money in coins with documented low mintages where a substantial proportion have appeared in the market.&nbsp; That way you know there never were very many and a new hoard is unlikely to appear.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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