Assuming we have the rest of our collection, I think I'd be torn between a T206 Plank, T204 Johnson. and E92 Nadja Cobb. Both the Plank and Johnson while iconic cards I've wanted, just don't fit that great with my current collection. The Cobb on the other hand is definitely one of the biggest stumbling blocks I'm looking at for my Nadja set both in terms of price and rarity.

A reasonable position that even we crazy collectors cannot dispute, defy it though we may. A tougher question I think is when you have a beloved card (or comic or coin . . . ) that you bought for 10 thousand that then skyrockets to 100 grand. Logically, if 100K is too much to have in a collectible then it's too much whether you paid 100K or not. But I don't think our brains always work that way.

Great point Jim. Put differently, if one cannot fathom spending $100k on a card, then if/when a card one owns becomes worth $100k, they should sell; and expect there are a number of people out there in this boat given where prices have gone in the past few years

Ryan - I generally agree with this sentiment, although I would probably add a few caveats.

As a tax professional, my first and most obvious observation is that I'm always reticent to sell, just to hand over as much as half of the sales price to the tax man. To the average American, nothing seems to vex us more than paying taxes that could have been avoided by not selling.

Second, for many of these cards, they mean a lot more to us than just cold, hard cash. While in theory everything has a price, often it's difficult to part with something that is so meaningful to us. Although economists would prefer that we all be cold calculating machines, we humans are too full of emotion to ever really allow that to happen. Along these lines, I would further posit that when it comes to our "forever" personal collection, the price would need to be astronomical before we are willing to sell. $100k is good money and nothing to sneeze at, but for some impossible to find pieces that I've been approached about selling, I've seriously responded that it would take $10M for me to sell, even though they would probably only fetch a small fraction of that amount if I were to sell at auction today.

Finally, there's also the element of expecting that it's just going to keep going up. While it's often illogical to expect that cardboard that is at a multiple of its previous all-time high could really go up much higher, deep down to some extent, we're inveterate gamblers. And that can cause us to want to keep riding the hot hand, expecting that this is just the beginning, with another 10x leg up being right around the corner, so selling now would be folly.

Bottom line is that it's easy to declare our economic principles, but when it comes to something we cherish like these cards, it can be a lot harder to actually take the brave leap of actually selling.

I have one card that has probably done that. And I am happy to hang onto it. But I can't fathom spending 100k on a card!
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Easy choice for me. It would be the nicest 1952 Mantle I could find. Knowing full well that my son as a Yankee fan and a Mantle fan would cherish it long after I’m gone.

Pick the best player you want to Collect/invest in. Then get the nicest condition card of him from a known series. You will have a low floor and a high ceiling which basically eliminates some financial risk. One good saying I heard not too long ago is pigs get fat, and hogs get slaughtered. Many cards mentioned about are great examples and don’t be afraid to go after a special card. It might be expensive now but years from now it most likely will look like a steal. Nice high end items normally hold their value through any kind of market and will always appeal to folks that seem to always have money to spend.

The best 1915 CJ Jackson I could find.

1915 Red Sox team postcard with Ruth. I hope to own one someday...

a few other tidbits...

Someone always wants the best of something. So, if you can attain the best (or it's one of the best), of a desirable item it should do well long-term.

Aesthetics matter to collectors and not as much to registry folks (isn't it all about the number?). And of course there are registry guys that do want the best looking examples. But, I don't think registries, so far, take into account particular visual characteristics. I would guess that the majority of the highest grade pre-war cards don't look as nice as ones with lower technical grades.

It can't be said enough; rarity doesn't equate to value. It's all about "demand".

To the topic, another 100k card would be a nicer T205 Cobby.....
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