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MVSNYCdave- well, we could also sit here and say "what if" there was a find of 125 wagners, let's say someone's great-grandfather worked at the factories that printed the cards and kept all of the ones that were pulled, or "what if" there was a huge find of 200 demmitts, from someone's grandfather who loved demmitt and hoarded all of his cards (hence the scarcity)...? whether or not i agree with 11,300, is besides the point, let's work with that number...think of the fact that there were 2 WW paper drives, mothers throwing cards out...plus almost 100 years of fires, water damage, etc...i'd say it is totally realiztic that there are only 200, 300, 400 etc, of these cards left.
once again, let's focus on what is, and not get too deep into "what ifs"...
p.s. john, i think REA was around 30 or so (125 would be outrageous)...but, i hear your point that it is not out of the realm of possiblity...