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Posted By: Mike Masinick

The only difference between CardTarget and thepit, etopps, and even Upper Deck Babe Ruth jersey cards for that matter is that we don't cut the item up. Instead of getting a physical 3/4 inch square of an item to keep for your very own, we keep the item whole and put it in a safe.

We also provide a marketplace for the shares, a way of tracking what you own, and we know who all of the owners are at any time. That doesn't make it a security.

Like Paul suggested, pointing us toward some actual law or legal precident would be helpful to move this conversation along.

I agree that this takes a lot of trust. Luckily we have personal relationship with many of our users and they do trust us. If you have any reasonable suggestions for ways to "prove" that we have the items in our possession at all times, please let me know.