Help - Search - Member List - Calendar
Full Version: Using cards as a bank?
Collector Zone > Collector Corner > Hobby Talk
MaddenRq53
I have come up with a great idea, which isn't really original but it is a great one for me. It's quite simple: buy cards that you KNOW will keep their value or increase in value, and then sell them when money is needed.

Now, I do this two ways. You either have money and have nothing else to spend it on and just want to spend it but want it back if need be, or you are saving up for something and want the cards and the thing your saving for.

Right now I want Beats By Dre headphones, they are the hot, new headphones of our era and all of my friends have them, I've heard them, and was quite impressed, so I'm saving up for them.

I for one being a teenager can't really hold on to money once I get it, it "burns a hole in my pocket". So I figured out a way to get double enjoyment out of my money. You buy cards of hall of famers, that way you know that the value cannot DECREASE dramatically because they were and always will be known as the best, and then once you have those cards you build up a collection of them, and then sell them off once you have the amount of value in the cards that you need for what you're saving for.

For example, these headphones I want cost a whopping 300 smackers. I never get that much at a time living off of allowance... So basically I just save up a couple weeks worth or whatever, and then for example buy a card that I know will sustain it's value throughout the time of this process, however long it may be. First I picked up a Roger Maris 1964 PSA 7 graded vintage baseball card, books at 60, decent card to invest in. Today I picked up a 1956 Luis Aparichio RC PSA 4, books for 150, but in this condition it tends to sell from 40-60 bucks by my estimation.

Basically all you can do with a card is hold it in your hand and enjoy it, right? So once I get the cards I just sit there and marvel them, which is just about all you can do. I get my enjoyment out of them, and then I can sell it since I have no use for it anymore, and get my investment back, and invest in something else.

Now that I have those two, if I sell them I should get about 80-100 dollars by my estimates. Then I can take that money and invest it into another card of higher value of course, such as an earlier Hank Aaron vintage PSA card or something of that sort, possibly a Mantle or Mays. Then sell that and buy a higher card, repeat, repeat, repeat, until you have a card that sells for roughly the amount of what you're saving up for, sell it and then you have what you wanted, plus more enjoyment than just seeing slips of paper we all know as money.

Anyone ever really do this or plan to do this? I'm going to let it run its course and then post updates of how it worked and what happened. I think this is a fun idea to get enjoyment through saving up for something, and hopefully it'll be a blast! Thanks for reading, I know it's kind of long...
finestkind
You hardly ever get back the money you put into cards by selling. Even vinatge cards. When it comes time to sell your cards, where are you going to get the best deal selling ? A Dealer ? Ebay has all kinds of fee's. A dealer might give you half of the cards value. If your lucky. You can try to sell them on TCC. Not too many vintage buyers here. There other sites where you can sell your cards. I've heard of people selling and buying on COMC. If your looking to sell vintage cards you might try this vintage site And this vintage site has a buy/trade/sell forums. Once in a great while, I go to a local auction. Where there are some dealers that come from out of town to win auctions for older cards, then turn around and sell them on Ebay.
aceecards
i will answer you honestly, as a collector for 44 years now I can tell you that your business model is all wrong!

You will not make money!

urbanmonk
Also not as safe as a bank as cards could get stolen, destroyed in a fire, etc.. unlike money in the bank. And as noted unless you buy them low it isn't always possible to get the same amount back out of the them or get it in a short period of time necessarily. Though yes you would get more back out of the cards than you would out of a used pair of "Beats By Dre headphones" so yes in that sense you are "throwing away less money" as anything "new" loses value as soon as you take it out of the store.
MaddenRq53
That's another thing, I'm fine with selling the card for less than I got it for, because then at that point I have got the enjoyment out of the card, and that was worth the little bit of money that I lose.
19th Century Indiana Jones
Show me where in the world where cardboard is an accepted form of currency other than a sportscard hobby site. And think about what you had to go through to earn that dollar. If you really think it through, that dollar has more power than any piece of cardboard could ever have.
19th Century Indiana Jones
And yes, I've been through what you're going through right now. smile.gif
wvball
Please start a savings account. Just put the money in the account. It will help you save since there are penalties for more that 2 withdraws per quarter (that depends on the bank) Once you save up a good sum say 1,500. Leave $500 in the savings account to negate any low amount fees and then get a $1,000 dollar certificate of deposit. Yes I know that interests rates are low BUT your money will work for you at say 3% interest that is 30 dollars you did not have to work for or do anything.

Once you start working (hopefully after college) Start contributing to your 401 K ASAP. At the bare minimum put the amount matched by your company. Then a Roth IRA is nice still better return thatn a certificate of deposit but prone to the flucuations in the stockmarket. Sorry but that is an after tax contribution. A regular IRA locks up your money until you are 59.5 yr old. Not as liquid.

Please save your money.

I know it is a fun hobby but a nice house and a nice car when you are older are much more enjoyable.

If you just like to look at cards do just that look. If you like a player buy a nice one on ebay and treasure it, put it away for your kids in the future to look at/enjoy and possibly sale.
19th Century Indiana Jones
Yes, enjoy the hobby as a hobby but always keep reality in check. That is the best way.
MaddenRq53
Guys, I'm talking about a 3 month commitment at the most. This isn't a lifetime thing, with all due respect there isn't any need for me to put it into a savings account or anything.

I am saving up 300 dollars. That is all, nothing past that. I'm 15, I don't need to save anything and I want to enjoy the times I can blow money and not care while I still have time. Once I get a job I'll obviously do the savings and everything.

I just think this is a fun way to get enjoyment out of my money TWO ways, cards, selling, cards, selling, headphones. It also gives me a great story to tell to everyone.
finestkind
Most vintage cards if they do go up in value can be a long wait. Buying raw ungraded cards and then sending them into be graded is a crap shoot on making money.
bigalexx
I can sell you some Hilton Armstrong and Patrick O'Bryant rookie autographs if you are really looking to dump that money. Trust me! These two guys are stars in the making. zorro.gif
northicehero99
I have to agree with everyone who posted above, don't use cards as an investment. What happens if you spill your soda or drop the card and it comes out of the holder? While I like your creativity, but I agree a bank account would be better even for a short term purchase like headphones and who is to say you will still want those in 3 months when they are no longer the "hip" item?

QUOTE(MaddenRq53 @ Jan 1 2012, 04:23 PM)
Guys, I'm talking about a 3 month commitment at the most. This isn't a lifetime thing, with all due respect there isn't any need for me to put it into a savings account or anything.

I am saving up 300 dollars. That is all, nothing past that. I'm 15, I don't need to save anything and I want to enjoy the times I can blow money and not care while I still have time. Once I get a job I'll obviously do the savings and everything.

I just think this is a fun way to get enjoyment out of my money TWO ways, cards, selling, cards, selling, headphones. It also gives me a great story to tell to everyone.
*


Your age shouldn't factor into learning to save, you are one year away from getting a drivers license or a few years away from college/trade school, so you should be thinking about saving. Not trying to be a downer, but just wait, once you get a job you will realize how fast that money goes for food, entertainment, bills, rent, etc, etc. Saving now can help you get things you want in the future like a car, school books, furniture for apartment/house, etc, etc. Saving now will hurt a lot less when you actually have to pay for these things.

Either way, good luck with whatever you choose.
MaddenRq53
Guys, please read all that I posted... I said only PSA cards, they'd never get hurt or damaged in any way shape or form. And they wouldn't go up in value, but it's a short time commitment and it's a way to hold some awesome cards and then just sell them back for roughly the same price, and then buy what I want.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2014 Invision Power Services, Inc.