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Mike HThe liquidity of cards vs. memorabilia is very debatable. Dylan, you know as well as anyone how wildly the liquidity of cards can very. Obviously, it depends entirely on which card and which piece of memorabilia. The phrase I keep reading over and over among card collectors is set completion and accumulation. That isn't the focus for most memorabilia collectors because with many things that would be impossible. There are exceptions like pin sets, bats from particular teams, glove models etc.
Dylan is absolutely right on regarding determination of value for memorabilia and difficulty in bidding appropriately for inexperienced collectors. I can see why cards are less intimidating for the novice. While you can still be taken in a card deal, it's quite a bit easier to make an educated guess with cards. That fact however, doesn't bother me and actually makes the collecting of memorabilia more enjoyable.