Common Dates Bringing Astronomical Prices

People collect coins for many reasons. Some enjoyment others as a hedge to they're finances. As a Coin World subscriber I read the auction results with amazement at the price some collectors go in acquiring a coin. Yes these do tend to have issues keeping them in the lower MS grades. Yes, these are most likely individuals looking to build a registry set, the best of the best. However, I'd like to air my thoughts for some feedback.

Recently, as an example, a 1978d Eisenhower dollar graded MS-67 with a CAC sticker hammered at $8,160.75 during a Great Collections auction September 30, 2018. Granted, both PCGS and NGC have both only graded 4 with none higher each at this level, but I ask myself how long before that population rises? Of the 33 million minted both have grade less than ten percent of that total mintage. At some point others will come along and that price will drop drastically if an MS-67= or 68 appears. So was it wise to spend the amount for status?

Continuing with the above example, coins grading MS-66 are selling at confusing prices as well. On ebay they can be found for under a hundred, while at another auction the same grade brought $660. To that end, I'd speculate the auction bidder to be an investor. And, yes, I am aware that eye appeal plays a large part in it all. But at such a large price variance? What am I missing?