This is why I gladly pay my dues.

I enjoy the journal so much I would belong to NGC Registry even if they did not accept PCGS graded coins. A member expresses an opinion based on personal experience, something they read or heard, an idea they have, or whatever, involving collecting or investing in raw or graded 'disks of commerce'. Other members mental juices start flowing (it takes longer for some of us) and next thing you know there is a full-blown discussion going on regarding aforementioned topic. Permit me to make some personal observations on the subject:

1) In some ways there has never been a better time to collect/invest in coins. I believe there are actually far more serious coin collectors now than there has ever been. It is a matter of statistics; there has never been so many potential collectors on the face of the planet.

2) There has never been as much supply as there is now. Mintages are way up for modern coins (Statehood Quarters, commems, etc.), which tend to keep prices down and allow people without 'deep pockets' to participate. I would imagine that most of us got started as young people with pocket change and it took a while to save enough for a semi-rare coin. A word of caution to those of you investng in proof coins (I have expressed this opinion before) mintages are so high that I doubt if demand will ever catch up. A 1985 Proof Set sold yesterday on eBay for a little over $3.00. Walk into your local coin shop and for about $10-12 you can buy proof sets from the late 60's through the early 21st century. Buy them if you like them, but for my money, there are so many coins out there that I desire, why not take advantage of the chance for some real appreciation in value at the same time?

3) More money chasing a finite amount of product. With regards to non-modern coins, say at least 50 years old or so, mintages were generally lower and many coins have been lost, melted, are at the bottom of the ocean somewhere, or in some other way unaccounted for. They aren't making them anymore! New records are being set with each new auction when a 1913 Liberty Head nickle (5 known to exist), an 1804 S$, or any of the coins included in the "Top 100 U.S. Coins" comes to market. I truly think that trickle down economics works in the coin market; look at the population reports for any given coin and for the sake of argument lets say the reports look like this, 25/35/45/35/25/15/10/5. How many people can afford one of the top 5? Maybe a couple of hundred? How many can afford the next tier? A few thousand? etc. It is all about supply and demand. Finite supply and the only thing limiting demand is the size of one's purse!

4) Don't forget to factor in the intangibles regarding art, history, etc. I couldn't care less if coinage is replaced by electronic VISA cards or something. For all intents and purposes 'Buffalo' nickels, 'Mercury' dimes, 'Indian Head' pennies, etc. are no longer a trading medium and therefore have made them scacer and more desirable than ever.

Hope I haven't 'muddied the waters' so to speak. Enjoy!

Dan