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<p>[QUOTE=&quot;e30kgk, post: 1885342, member: 57031&quot;]Of course this is true. However, this thread is discussing small denomination gold coins, so when you state that &quot;Common date gold coins graded as high MS63 will usually sell for spot plus about 10%,&quot; it stands to reason that you&#039;re making that claim about small denomination gold coins.</p><p><br /></p><p><br /></p><p><br /></p><p>This is true. A single transaction doesn&#039;t establish value. A $75 dollar coin isn&#039;t worth $800 just because someone pays $800 for it. A coin that a significant number of people are willing to pay $800 for is worth $800, though, no matter what the grey sheet says, or what past auction results show, or what the Red Book says, or anything else.</p><p><br /></p><p><br /></p><p><br /></p><p>I don&#039;t even know how to argue with you on this point. It&#039;s just blatantly false. If &quot;the world is full&quot; of people willing to pay $X for something, it&#039;s incontrovertibly worth $X.&nbsp; What, in your opinion, determines how much something is &quot;worth&quot; in a free and open market, if not the willingness of consumers to purchase a good at a certain price?</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>It absolutely lost value when you cracked it out of a slab. If nothing else, it lost liquidity, which makes it less valuable. There are less people willing to pay top dollar for a raw coin than a graded coin. That doesn&#039;t make it a worse coin, that doesn&#039;t make it even a less desirable coin, but presented two identical coins at the same price, one raw, one slabbed, the vast majority of buyers will opt for the graded one.</p><p><br /></p><p><br /></p><p><br /></p><p>This is true for most things. Just because you think value has nothing to do with people&#039;s willingness to pay for something, doesn&#039;t mean that&#039;s the case - because that&#039;s a simple fact of basic economics, much like the age of the earth is a simple fact of geology. However, value is not a static matter of fact - the whole premise of value depends on the perception of the consumer.[/QUOTE]</p><p><br /></p>

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