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<p>[QUOTE=&quot;beef1020, post: 1674210, member: 24544&quot;]It&#039;s important to keep in mind that the coin market is based on preference, and this preference can and will change over time.&nbsp; What collectors chase today will be much different than what collectors chase in 50 years.&nbsp; Right now the market puts a huge premium on high grade census level coins as people chase the registry game, but this preference could change.&nbsp;&nbsp; </p><p><br /></p><p>This dynamic is why I fundamentally do not view coins as an investment.&nbsp;&nbsp; When you invest in something you are buying an asset that produces money, and the price paid for that asset is in some way tied to the expected future cash flow.&nbsp; That&#039;s how it is for houses(selling price tied to rental value), or manufacturing equipment, or internet business.&nbsp; The price is a reflection of the productive output of the asset being purchases.&nbsp; </p><p><br /></p><p>Coins are not like this, they have no production ability.&nbsp; Their price is soley a function of the current demand for that coin based on the general preferences of the market at this specific point in time.&nbsp; There is no intrisict reason why a high grade coin should be more valuable than a low grade coin, that price difference represents the broad preference of the coin market which can and will change in the future.[/QUOTE]</p><p><br /></p>

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