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<p>[QUOTE=&quot;rick, post: 48661, member: 1235&quot;]Moen, to some degree you are right - you are right from the perspective of a coin investor.&nbsp; But coins usually make for a hard investment, with rather expensive lessons to be learned.&nbsp; But are the market mechanisms the only things play into the value of a collection?&nbsp; I don&#039;t think so.</p><p>&nbsp;</p><p>To state what I was getting at with the economics of the situation:&nbsp; The impact I was referring to was the impact of supply and demand upon the market value of any particular coin.&nbsp; And it is less than 100% - that&#039;s just fact (or maybe my opinion, I&#039;m not trying to sell anything here).&nbsp; Certain factors in micro environments cause artificial swing in both supply and demand.&nbsp; It is primary, but not exclusive, in price determination.</p><p>&nbsp;</p><p>But overvalue brings complication to the table in relation to collectors.&nbsp; A collector will probably be more influenced by personal utility than someone who is looking at rare coins as an investment.&nbsp; I don&#039;t collect stocks, I buy them and I sell them often - but I never owned a stock that I held because it meant something to me.&nbsp; I don&#039;t invest in coins - I have never purchased a coin with the intent of selling it when its value supercedes my &#039;hold&#039;.&nbsp; So why would I attach the same definition of value to two very different subjects?</p><p>&nbsp;</p><p>No disrespect was taken.&nbsp; We all have our own thoughts, I&#039;m just voicing mine.&nbsp; I do disagree with you in terms of dealers always winning.&nbsp; If anything, they run the greatest risk among any in the game - in terms of market value, the one who holds the most chips also assumes the most risks.&nbsp; I quite willingly pay a premium to my local dealer - for the same reason I pay a premium to the guy who sells me cigars... I want him to stay in business, and to do that, he must make a reasonable profit.[/QUOTE]</p><p><br /></p>

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