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<p>[QUOTE=&quot;GoldFinger1969, post: 5565551, member: 73489&quot;]<b>And as a follow-up....many people here have called the 1907 High Relief Saint &quot;overpriced&quot; given the survival/pop census.</b></p><p><br /></p><p>MS-65 coins costing &gt; $35,000 and even AU-58&#039;s will run you a bit north of $10,000.&nbsp; 12,367 made....6,000-8,000 certified....total survivors might be 10,000 including non-gradeds.&nbsp;&nbsp; Plenty of coins, in other words.</p><p><br /></p><p>But lots of those coins may be in what I call &quot;strong hands&quot; -- people who have held or will hold the coins for decades with no intention of selling.&nbsp; These people may have inherited the coin from a family member who was around when the coins first came out in 1907 or maybe a few years later.&nbsp; They&#039;re up there in years....but they don&#039;t need the $$$ and they&#039;ve kept the coin in a SDB or a black velvet pouch.</p><p><b><br /></b></p><p><b>You restrict supply, you increase the price, assuming demand remains constant. </b> So instead of the 1907 HR&#039;s trading frequently like most coins held by collectors, because lots of 1907 HR&#039;s are held by non-collectors who just know the coin is &quot;special&quot; or &quot;artistic&quot; or &quot;unique,&quot; they are kept off the market and hence the price is considered &quot;overvalued&quot; relative to the number of available coins.</p><p><br /></p><p>So restricted supply...plus a unique design never replicated over the decades....a gold coin, to boot.....artistic value (coin designed by a famous artist/sculptor).....<b><i>you add these all up, you have MULTIPLE demand sources for the coin, plus the reduced supply.</i></b></p><p><b><i><br /></i></b></p><p>It appears that the OPPOSITE factors rule for world coins:&nbsp; fragmented market, language and cultural barriers, no non-collectors holding the coins or passing them down from family member to family member, plenty of supply, etc.</p><p><br /></p><p>This would be a great topic for an in-depth analysis with lots of number-crunching by someone in <b><i>The Numismatist</i></b> or some other in-depth publication. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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