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<p>[QUOTE=&quot;World Colonial, post: 2468016, member: 78153&quot;]I don&#039;t believe I am underestimating its scarcity in these grades, though yes, it may not appear for sale often.&nbsp; The NGC population report lists 167 of 202 in grades of MS-67 or better.&nbsp; True, I will admit to you I don&#039;t know the actual quality distribution since I don&#039;t collect them and there MAY BE some &quot;positive selection bias&quot; where the best examples are disproportionately selected for submission. </p><p><br /></p><p>However, I don&#039;t see any reason to believe the absolute number in these grades is particularly low, even if it is a low proportion.&nbsp; With a mintage of 97,000 for the 1999, I would expect it must be at least 5,000 combined because most owners are unlikely to bother to submit it for grading as they are buying it as bullion, not for collecting purposes or registry sets.</p><p><br /></p><p>Also, while I presume a significant percentage are owned by US buyers (maybe most), non-US collectors disproportionately don&#039;t like TPG.</p><p><br /></p><p>Lastly, the point I was trying to make on the proper perspective for the scarcity versus price is that it must include the alternative coins collectors of this series likely buy (or will consider) because almost no one buys any coin or series in a vacuum.&nbsp; For this series, I presume the primary competition is first, other NCLT such as Brittania and Pandas.&nbsp; And second, other Mexican coins such as crown sized pesos and Cap &amp; Ray 8R.</p><p><br /></p><p>At $450 for an MS-69 cited in a prior post here, I don&#039;t believe it is competitive at all versus Cap &amp; Ray 8R, though I suspect the few willing to pay this price don&#039;t care and others collecting the series are unaware of it.&nbsp; (As with other moderns, I suspect most higher grades are &quot;made&quot; through &quot;cherry picking&quot; versus bought).&nbsp; Cap &amp; Ray doesn&#039;t come in ultra grades but can be bought in a 64 or 65 for $450 (or less) for the more common dates and is vastly scarcer.&nbsp; Other NCLT, I don&#039;t know but don&#039;t believe the popularity of this series is disproportionately higher, though yes, I do understand it has a limited core following.</p><p><br /></p><p>As for the proofs, my thoughts are similar.&nbsp; First, the supply is still much higher than most other coins in <b>near equivalent quality</b> which is the most valid comparison.&nbsp; So though the mintage is low, it isn&#039;t necessarily particularly meaningful.&nbsp; Second, there are an outsized percentage of low mintage coins.&nbsp; This reduces the significance of any particular coin because it is totally unrealistic to expect all of them to sell for &quot;high&quot; prices or else it will make the series completely unaffordable to most in its prospective collector base.</p><p><br /></p><p>Sorry for my essay but just wanted to provide an adequate explanation.[/QUOTE]</p><p><br /></p>

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