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warshawlawit is a hell of a lot more satisfying to look at a card than a stock brokerage report when both are worth only the paper they are printed on. If my cards plummeted in value tomorrow I would...buy more of them. A lot more. Send your rarities to me. I like them regardless of value. I collected them when people gave away boxes of old cards; it isn't about the money for me. The money is nice but if you cannot afford to have the cards turn to zero (lose your investment), by all means get out now and collect reprints so you won't have to sweat it. But for what it's worth, I have been in cards as a dealer and collector since I was 12 (1977) and it has never taken a plummet in that 30-year span.
As far as capital gains go, yeah, it sucks, but there are ways around it. I would form an LLC or S corp, capitalize with the cards, hold the interest a year and a day, then sell the business with its inventory rather than the cards and take long term gains tax treatment on the sale. Should qualify for the lowest CG tax rate. BTW, this not legal or tax advice and if you are going to do it, check with your CPA and lawyer first because I could be wrong.