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<p>[QUOTE="GDJMSP, post: 12844, member: 112"]I find it curious that you would consider this a myth. To me it is simple mathematics and the law of supply and demand. I will grant that for truly rare items - demand has little to do with it; at least when talking about US coinage. There are only so many people who can afford or would want to pay a million dollars for a coin.</p><p><br /></p><p>But with items of lower price, yet still considered to be an outrageous price for the coin in question - demand is the driving force. If 10, 20 or 30 collectors want to bid on a given coin, for whatever reason, the price is going up. If only 1 or 2 wants it - not likely it will.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Condition rarity is absolutely not dependent on the age of a coin. Too many times I have had this discussion with those collectors and/or dealers who think mintage numbers have a correlation with the quality or high grade of a coin. This is simply not true. One has nothing to do with the other. </p><p><br /></p><p>Many suppose that just because a given coin was produced in huge numbers, in particular modern coins, that many high or ultra high grade examples must exist. Why ? Just because they have to exist ? If they do - where are they ? </p><p><br /></p><p>The part that always gets to me is that those who believe this have no problem at all thinking that a coin struck 100 or 150 yrs ago and that grades MS68 <u>has</u> to be extremely rare. But yet one struck 30 yrs ago that grades MS68 cannot be rare simply because of the number of coins struck. The logic of this thinking escapes me. The age of a coin has nothing to do with condition rarity. There are just as many condition rarities for older coins as there for modern coins - perhaps even more. </p><p><br /></p><p>But yet these older condition rarities are never questioned - never doubted. Nobody ever says " they struck 60 million of these - there has to be a lot more of them out there !" Take the 1918 cent for example - if someone offered you an MS67 example - would you consider it rare ? Or would you say - they struck almost 300,000,000 of these coins - there has to be a lot more of them out there - it can't be valuable. </p><p><br /></p><p>But the fact remains - they aren't out there. Perhaps a few do exist, but certainly not in any huge numbers. The reason they don't exist is because the methods used to manufacture coins don't allow them to exist except in very small quantities. </p><p><br /></p><p><br /></p><p><br /></p><p>I will readily agree that price does not determine rarity. Price only indicates one thing - demand. If there is no demand - there is no high price. Period.</p><p><br /></p><p>Rarity can <u>only</u> be determined by the number of coins that exist for a given year and mint. Condition rarity is a whole other world that has nothing to do with how many exist or how many were made. Or <u>when</u> they were made.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 12844, member: 112"]I find it curious that you would consider this a myth. To me it is simple mathematics and the law of supply and demand. I will grant that for truly rare items - demand has little to do with it; at least when talking about US coinage. There are only so many people who can afford or would want to pay a million dollars for a coin. But with items of lower price, yet still considered to be an outrageous price for the coin in question - demand is the driving force. If 10, 20 or 30 collectors want to bid on a given coin, for whatever reason, the price is going up. If only 1 or 2 wants it - not likely it will. Condition rarity is absolutely not dependent on the age of a coin. Too many times I have had this discussion with those collectors and/or dealers who think mintage numbers have a correlation with the quality or high grade of a coin. This is simply not true. One has nothing to do with the other. Many suppose that just because a given coin was produced in huge numbers, in particular modern coins, that many high or ultra high grade examples must exist. Why ? Just because they have to exist ? If they do - where are they ? The part that always gets to me is that those who believe this have no problem at all thinking that a coin struck 100 or 150 yrs ago and that grades MS68 [U]has[/U] to be extremely rare. But yet one struck 30 yrs ago that grades MS68 cannot be rare simply because of the number of coins struck. The logic of this thinking escapes me. The age of a coin has nothing to do with condition rarity. There are just as many condition rarities for older coins as there for modern coins - perhaps even more. But yet these older condition rarities are never questioned - never doubted. Nobody ever says " they struck 60 million of these - there has to be a lot more of them out there !" Take the 1918 cent for example - if someone offered you an MS67 example - would you consider it rare ? Or would you say - they struck almost 300,000,000 of these coins - there has to be a lot more of them out there - it can't be valuable. But the fact remains - they aren't out there. Perhaps a few do exist, but certainly not in any huge numbers. The reason they don't exist is because the methods used to manufacture coins don't allow them to exist except in very small quantities. I will readily agree that price does not determine rarity. Price only indicates one thing - demand. If there is no demand - there is no high price. Period. Rarity can [U]only[/U] be determined by the number of coins that exist for a given year and mint. Condition rarity is a whole other world that has nothing to do with how many exist or how many were made. Or [U]when[/U] they were made.[/QUOTE]
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