Excellent analysis, Greg.
I've purchased a few N cards over the last year or so, but at least for me, they are purely opportunistic purchases. Except for a few 'mainstream' issues these are cards that just don't show up often. That may be part of the answer as to why we don't see much 'action' on them. I have a want list of 19th century cards that I do not expect to satisfy except by happenstance, as was the case with the most recent one I picked up.
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