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We discuss two different types of issues concerning the quantization of Einstein Rosen waves. First we study in detail the possibility of using the coherent states corresponding to the dynamics of the auxiliary, free Hamiltonian appearing in the description of the model to study the full dynamics of the system. For time periods of arbitrary length we show that this is only possible for states that are close, in a precise mathematical sense, to the vacuum. We do this by comparing the quantum evolutions defined by the auxiliary and physical Hamiltonians on the class of coherent states. In the second part of the paper we study the structure of n-point functions. As we will show their detailed behavior differs from that corresponding to standard perturbative quantum field theories. We take this as a manifestation of the fact that the correct approximation scheme for physically interesting objects in these models does not lead to a power series expansion in the relevant coupling constant but to a more complicated asymptotic behavior.