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Scot ReaderI would explain it this way. There are T206 HOFer collectors who are not willing to pay a full back premium to get a HOFer they want. There are T206 back collectors who are not willing to pay a full HOF premium to get a back they want. There are fewer (although I would say there is a growing number of) HOF/back collectors, that is, collectors who seek to aquire a particular HOFer with every back or a particular back with every HOFer. So you wind up with a reduced premium.