Hi Dennis...How many seriuos $200 collectors do you think are out there? It would be very interesting to know. I think there less than 50..throw about 150 speculators into the mix & you have inflated prices. Time will tell if the price of any one coin will hold. The Palms seems to adequately satisfy the hobby with issues of 250. In doing so I think they instantly gained a large following of collectors. This two way street win win should be noted because it allows a good profit and creates a good collector following. The purpose of the options market is to preserve or protect a position, of course you'll always attract speculators willing to gamble a position will increase or decrease in value. They do this because they are willing to gamble a small premium of what the actual position would cost. In this hobby you pay full price plus a premium. The upside is your option does not expire until you sell. Which way is the right way remains unpredictable. I would bet on the largest collector base because as the membership increases so will they. Others have another opinion and that is OK if they keep in mind the price will continue to be higher for these issues. Will the ranting on the BB change this...I doubt it very much.
Rich Figarotta CHSS-051