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MVSNYCyeah...i can't exactly figure out why the SMR is so low...i spoke to Joe O. last year about the topic specifically relating to T206, and he said they know it's low, and that the market prices are rising very fast...but if they doubled the prices (let's say), it would "jolt" the market. he went on to say that they have been and will continue to raise the pricing slowly each month to try to get it to an acceptable level...
i still think the SMR pricing is alarmingly low...but we'll see...
as long as the dealers and collectors know it is low, it can just be used as a "guide" which then can be multiplied, or estimated.
bruce- i think people are becoming smart to the fact that high-grade vintage cards are a super investment, so they are being gobbled-up and put away.