No let up in demand

[VickySilver 830]

That sixpence was quite intriguing; the mate in CuNi was known from Norweb. As far as silver, all bets are off but if I had to that would be as to it being 0.500 as the blank planchets of that fineness ought to be more available.

[1949threepence 3,367]

Yet it is precisely those very high 100% lustrous grades, Tom, which sell at a premium way above even GEF. Perfection commands its own elite audience, apparently.......

........That's if you can find them to buy, even at silly money........

The last line explains the first.

More pertinent perhaps is the question, how do you define silly money? Buying coins is just a variation on a common theme where you will pay different prices for different products or the same product in different conditions, after all, you wouldn't pay the same money for a new car as for an older car of the same model. Even if you pay only £10 for a coin in VF, in the eyes of the person who would pay £8 tops, you have paid silly money. Cars depreciate the minute they leave the forecourt and coins are no different. You can't remedy lost lustre. Buying into a top of the range product that can only get scarcer with time is not such a strange idea when you consider that only a very small percentage of a currency issue will remain in this condition, even soon after issue (1967 pennies excepted).

People are always bemoaning the price of top grade pieces, but the same people have no qualms about upgrading at the same price as the inferior item. If you want a coin in a particular grade, then it is reasonable to pay the market rate for that item, which is a function of supply and demand.

It does to a large extent, I agree. But I was alluding to those coins, and there do appear to be some, which simply do not seem to be available at very high grades, even if you were willing to pay almost any price. At any rate, if they are for sale, it is a very rare event.

For example, ever tried finding a BU 1864 crosslet 4 penny ? Actually probably you wouldn't have done, Rob. But penny enthusiasts will know what I mean.

[Rob 3,152]

It's all relative. It doesn't really matter whether the best is UNC, EF, VF or Fine and I know of coins in all these grades that fit the argument. The best available will always be sought by the affluent specialist collectors. If you decide to collect a particular series and the one real rarity commands a 4 or 5 figure sum, then if it is remotely within your means, you will try for it. If a coin doesn't exist in top grade, the next grade down will do and there will be a corresponding adjustment to grade/price compared to the common pieces. The price is dictated more by the desire to fill the hole in the various collections and many of those people have more than sufficient spare capital to make the collecting dream a reality. You should probably be grateful that most collectors have a stop button otherwise prices could go much higher and far fewer people could ever obtain pieces in top grade (1967 pennies excepted).