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<p>[QUOTE=&quot;cladking, post: 53283, member: 68&quot;]Actually the hobby is extraordinarily inefficient.&nbsp; This is largely caused by the nature of man which is to herd and form societies, toe the line, and follow the crowd.&nbsp; It&#039;s always easy to buy high and sell low.&nbsp; All of us find comfort in numbers so when people panic and run to starboard you&#039;d better run to port no matter how difficult.&nbsp; You&#039;ll still go in the water but at least the boat won&#039;t come down on top of you.&nbsp; </p><p><br /></p><p>Out of all the coins made in the last two and a half millinea by many hundreds of issuing authorities only a few dozen series attract a lot of attention.&nbsp; These are mostly US coins issued over a 140 year span.&nbsp; Even in this narrow realm there are several overlooked and underappreciated series.&nbsp; </p><p><br /></p><p>In 1989 one could spend $1000 to purchase a gem &#039;78-S Morgan.&nbsp; This is an extremely common coin which was saved in huge quantity at time of issue and was quite well made.&nbsp; Even though gems were plentiful collectors have always been fascinated by large silver coins and this seems to go double for this one.&nbsp; Everyone wanted a Morgan collection or a type coin in high grade and these were highly touted.&nbsp; People scrambled to buy these coins before they were all gone.&nbsp; Of course after the last guy got on board there was no one left to buy and the market collapsed.&nbsp; It was difficult to sell these to a dealer for $45 a year later.&nbsp; In the mid-&#039;60&#039;s the big thing was brand new rolls of coins straight from the mint.&nbsp; Everyone saw that the hobby was growing and that there weren&#039;t enough of many coins in circulation to supply all the kids who wanted coins.&nbsp; It seemed a safe bet that as kids got older and wealthier they would want to upgrade their collections so BU rolls should maintain a steady growth in price for decades.&nbsp; Today most of the coins that were bid up so high were put back in circulation and those which remain are generally worth only face value.&nbsp; By the same token there are hundreds of world and US coins which have been doubling over and over because they are finally getting some interest after decades of total neglect.&nbsp; Coins like a Greek 1957 Drachmai which simply is unavailable in unc and scarce in XF.&nbsp; Not many years ago this was just another twenty five cent modern but now it lists for $100 and you still can&#039;t find one.&nbsp; </p><p><br /></p><p>There are thousands of US and world coins like this from scarce circulating quarter varieties which don&#039;t exist in unc to things like a 1968 Japanese 100Y which lists for a couple of dollars but can not be found.&nbsp; </p><p><br /></p><p>Really, if you list all the coins and throw a dart at it you&#039;ll probably hit an underappreciated coin.&nbsp; Some are simply more underappreciated than others.[/QUOTE]</p><p><br /></p>

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