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<p>[QUOTE=&quot;Cloudsweeper99, post: 317686, member: 3011&quot;]There are people who feel that way.&nbsp; I think it&#039;s incorrect thinking to believe that anything that doesn&#039;t generate cash flow has no value or can&#039;t be valued.&nbsp; It&#039;s often easier to put a value on something that generates cash, but that doen&#039;t mean things like raw land, oil, gold, and commodities in general are valueless.&nbsp; The other unknown factor with something like a bond is what the fixed number of dollars will mean in purchasing power at some future date.&nbsp; A discounted cash flow analysis can tell you how many dollars it is worth, but won&#039;t necessarily tell you what the future purchasing power will be.&nbsp; In the end, you are in the same position as the coin owner in guessing what someone else will give you in exchange for a fixed number of dollars.</p><p><br /></p><p>Regarding bid/ask spreads, Ebay and other auction mechanisms are making this less of an issue than in the past, but you are correct in pointing out that the spread is high.</p><p><br /></p><p>I just think it&#039;s incorrect to say that a coin has no intrinsic value.[/QUOTE]</p><p><br /></p>

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