The Gold Standard - Loans w/cards as collateral

[Leon]

I want to welcome one of our newest advertisers, The Gold Standard.. Their company gives loans against baseball cards among other things as collateral. So now all of you guys that are short on funds have a way to get some if need be. I am not a financial advisor but I would always be careful with loans. It is a solution for some and might be a way to keep cards and still get badly needed cash.

http://www.goldstandardny.com/baseba...lectables.html


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[Brian Van Horn]

Interesting idea, but I would pass.

[Peter_Spaeth]

An online pawnbroker, essentially.

[1952boyntoncollector]

Originally Posted by Peter_Spaeth

An online pawnbroker, essentially.

im assuming they can offer more than the average pawnbroker on cards if they have more knowledge.

[vintagetoppsguy]

It's an interesting idea, but didn't PSA try this years ago?

For whatever reason, it didn't work for them.

[bnorth]

Originally Posted by vintagetoppsguy

It's an interesting idea, but didn't PSA try this years ago?

For whatever reason, it didn't work for them.

I kind of remember that also. Maybe PSA offered to high of % of card value and did not charge enough interest.

To any broke member I would offer up to 20% loan value and interest would start at a very low 2% per day.

[frankbmd]

I helped a friend (?) accepting his 1956 Topps set as collateral for a personal loan with an agreed upon repayment date. When that date came without the payment, I upgraded my set with cards from his, as a form of interest on the loan. He ultimately repaid the loan in full and got his somewhat lower grade set in return. When he was unable to pay, he was informed of and accepted the "interest" addendum to the original contract. It all worked out in the end, but I wouldn't recommend it.

[ullmandds]

i also have lent friends $$$$ keeping their cards as collateral. I felt comfortable because regardless of whether they paid or not...I'd get my $$$ back. Luckily they paid...and they got their card back in the same condition as given to me.

Never a good idea to lend money to friends!!!!

[Exhibitman]

[Peter_Spaeth]

Originally Posted by frankbmd

I helped a friend (?) accepting his 1956 Topps set as collateral for a personal loan with an agreed upon repayment date. When that date came without the payment, I upgraded my set with cards from his, as a form of interest on the loan. He ultimately repaid the loan in full and got his somewhat lower grade set in return. When he was unable to pay, he was informed of and accepted the "interest" addendum to the original contract. It all worked out in the end, but I wouldn't recommend it.

Frank Bucks to the rescue.

[ALR-bishop]

OMG, Frank is a card usurer

[oldjudge]

First, let me say I know nothing about the company or its terms. However, in general, the key is the interest rate being charged. We are in basically a zero interest rate environment. If the loan is not a high percentage of the card's market value, it is basically a riskless loan for the lender. As such, an interest rate anywhere near 10% is excessive and should be avoided.

[Brian Van Horn]

Originally Posted by bnorth

I kind of remember that also. Maybe PSA offered to high of % of card value and did not charge enough interest.

To any broke member I would offer up to 20% loan value and interest would start at a very low 2% per day.

Ben the budding entrepreneur .

[vintagetoppsguy]

Originally Posted by vintagetoppsguy

It's an interesting idea, but didn't PSA try this years ago?

For whatever reason, it didn't work for them.

I guess I was wrong. Apparently it did work for them because, according to Bloomberg, they're still in business - Collectors Finance Corporation.

I think you guys have a lot of misconceptions about this service.

Originally Posted by conor912

I'm seriously not sure what's sadder....the existence of such a service, the people who would use it, or the fact that they're being let to advertise on this board.

According to Bloomberg, it's (Collectors Finance Corporation) used mostly by dealers looking to free up some cash, which makes sense if they have a lot of cash tied up in inventory and are looking to make a significant purchase.

Originally Posted by Kevin.Shenker

How do validate the cards are not stolen? This seems like the perfect place to try and pawn a stolen card. Do you have something in place to flag people who have pawned x number of items and never came back for them, or to flag people that repeatedly pawn the same high dollar cards?

You have to show valid id and I'm pretty sure that they report to local law enforcement. Therefore there would be a record of who pawned the item.

[marvymelvin]

Just relax people. I guess I should have mentioned I am "married to the mob" per se. The inlaws joke about themselves and their cousins all the time.

And why does Wonka get a pass with his picture of three mobsters, and mechanicalman with his link to the "native american" loan company.

Double standard I guess, but really my bad for underestimating some of your needs to intellectualize my act of stereotyping my own family.

And Shenker your "brief history" on net54 is replete with "complaints" followed by "but I am not complaining", and "questioning" long time collectors assessment of your card, followed by "but I am not questioning". Stand back and watch awhile before you jump in...

But...I am not complaining...just saying..

Back to the topic at hand please...

[Eric72]

Some "stereotypical" traits that might apply to a few of us Baseball Card collectors:

- We are a predominantly male group...who collects photographic images of other males. I wonder what mainstream society would say about that.

- Most of us (myself included) would benefit from shedding a few pounds.

- We typically have no problem spending a fair amount of money on a piece of cardboard, and quickly justify the purchase. However, spending the same amount of money on something practical for ourselves (such as a pair of new shoes) involves much more thought.

- Baseball Card collectors (unfortunately) spend more time thinking about cards than sex. Seriously, consider it...other than your teenaged years, what did you think about more frequently?

- We sometimes think of cards as an, "investment." Gentlemen, this is a hobby. Wall Street would probably laugh at this in 2015. Thirty years ago, maybe not so much.

Just my thoughts.

Best regards,

Eric

[mechanicalman]

Originally Posted by Eric72

Some "stereotypical" traits that might apply to a few of us Baseball Card collectors:

- We are a predominantly male group...who collects photographic images of other males. I wonder what mainstream society would say about that.

- Most of us (myself included) would benefit from shedding a few pounds.

- We typically have no problem spending a fair amount of money on a piece of cardboard, and quickly justify the purchase. However, spending the same amount of money on something practical for ourselves (such as a pair of new shoes) involves much more thought.

- Baseball Card collectors (unfortunately) spend more time thinking about cards than sex. Seriously, consider it...other than your teenaged years, what did you think about more frequently?

- We sometimes think of cards as an, "investment." Gentlemen, this is a hobby. Wall Street would probably laugh at this in 2015. Thirty years ago, maybe not so much.

Just my thoughts.

Best regards,

Eric

Great post, Eric. So sad and true at the same time.

[cincyredlegs]

I love pawn shops because I can get great deals on the things I like. However, let's be honest, pawn shops are in business to advantage of people in dire straits. Nothing more, nothing less. If you have ever been in a pawn shop, the people in there selling or getting loans are people that are just trying to pay there car payment, $'s for food or clothes for their kids. It's Leon's board and he can sell advertisements to whoever he wants.

Personally, I wouldn't have started a thread about them but that is me and it's not my board.

Mark

[Peter_Spaeth]

Originally Posted by Eric72

Some "stereotypical" traits that might apply to a few of us Baseball Card collectors:

- We are a predominantly male group...who collects photographic images of other males. I wonder what mainstream society would say about that.

- Most of us (myself included) would benefit from shedding a few pounds.

- We typically have no problem spending a fair amount of money on a piece of cardboard, and quickly justify the purchase. However, spending the same amount of money on something practical for ourselves (such as a pair of new shoes) involves much more thought.

- Baseball Card collectors (unfortunately) spend more time thinking about cards than sex. Seriously, consider it...other than your teenaged years, what did you think about more frequently?

- We sometimes think of cards as an, "investment." Gentlemen, this is a hobby. Wall Street would probably laugh at this in 2015. Thirty years ago, maybe not so much.

Just my thoughts.

Best regards,

Eric

Wall Street guys are in signfiicant part the ones buying the high end investment type cards. Not all cards are good investments, but some probably are.

[Eric72]

Originally Posted by Peter_Spaeth

Wall Street guys are in signfiicant part the ones buying the high end investment type cards. Not all cards are good investments, but some probably are.

Agreed, Peter. However, most, "collectors" are driven by other forces. And, most, "investors" seek opportunities elsewhere.

Again, just my thoughts.

Best regards,

Eric

[YankeeCollector]

I live in New York and I have used the Gold Standard and I highly recommend them. I have never had any issues and the cards were always returned in the same condition that I left them.
There are situations where I'm waiting for a big check and I get an opportunity to buy a collection and I need cash quick- I have gone to the Gold Standard.

In addition, if I needed to pay a hospital bill for a family member and I didn't want to part with a Ruth that will prob take me 5 years to replace, I went to the Gold Standard.

It's an ideal situation for when there's an irreplaceable card that you do not want to part with or when you overextend yourself in an auction and u need a little cash. I highly recommend this company.

[mark evans]

Originally Posted by Eric72

Some "stereotypical" traits that might apply to a few of us Baseball Card collectors:

- We are a predominantly male group...who collects photographic images of other males. I wonder what mainstream society would say about that.

- Most of us (myself included) would benefit from shedding a few pounds.

- We typically have no problem spending a fair amount of money on a piece of cardboard, and quickly justify the purchase. However, spending the same amount of money on something practical for ourselves (such as a pair of new shoes) involves much more thought.

- Baseball Card collectors (unfortunately) spend more time thinking about cards than sex. Seriously, consider it...other than your teenaged years, what did you think about more frequently?

- We sometimes think of cards as an, "investment." Gentlemen, this is a hobby. Wall Street would probably laugh at this in 2015. Thirty years ago, maybe not so much.

Just my thoughts.

Best regards,

Eric

Having been married to the same woman for 30 years, I find that cards offer greater variety.

[steve B]

Originally Posted by Eric72

Some "stereotypical" traits that might apply to a few of us Baseball Card collectors:

- We are a predominantly male group...who collects photographic images of other males. I wonder what mainstream society would say about that.

- Most of us (myself included) would benefit from shedding a few pounds.

- We typically have no problem spending a fair amount of money on a piece of cardboard, and quickly justify the purchase. However, spending the same amount of money on something practical for ourselves (such as a pair of new shoes) involves much more thought.

- Baseball Card collectors (unfortunately) spend more time thinking about cards than sex. Seriously, consider it...other than your teenaged years, what did you think about more frequently?

- We sometimes think of cards as an, "investment." Gentlemen, this is a hobby. Wall Street would probably laugh at this in 2015. Thirty years ago, maybe not so much.

Just my thoughts.

Best regards,

Eric

My wifes comment after going to the one baseball card show she's been to -

"I don't think I've ever seen so many fat middle aged white guys in the same place before"

And that's coming from someone who married one and works in computers.

Steve B

[dealme]

Originally Posted by steve B

My wifes comment after going to the one baseball card show she's been to -

"I don't think I've ever seen so many fat middle aged white guys in the same place before"

And that's coming from someone who married one and works in computers.

Steve B

My wife made a very similar comment, but it was at a Rush concert. On the other hand, she was happy about the lack of lines for the ladies' restroom.

Mark

[mechanicalman]

Originally Posted by marvymelvin

Just relax people. I guess I should have mentioned I am "married to the mob" per se. The inlaws joke about themselves and their cousins all the time.

And why does Wonka get a pass with his picture of three mobsters, and mechanicalman with his link to the "native american" loan company.

Double standard I guess, but really my bad for underestimating some of your needs to intellectualize my act of stereotyping my own family.

And Shenker your "brief history" on net54 is replete with "complaints" followed by "but I am not complaining", and "questioning" long time collectors assessment of your card, followed by "but I am not questioning". Stand back and watch awhile before you jump in...


But...I am not complaining...just saying..

Back to the topic at hand please...

I think I get a pass because I didn't reference the ethnicity of the lenders. I was just highlighting the usurious rates of Western Sky, irrespective of ethnicity. the quotes are yours, not mine.

[marvymelvin]

Originally Posted by mechanicalman

I think I get a pass because I didn't reference the ethnicity of the lenders. I was just highlighting the usurious rates of Western Sky, irrespective of ethnicity. the quotes are yours, not mine.

Yes right, out of all of the loan companies you could have chosen you chose the one that is 100% owned and run by native americans with a native American spokesperson. Absurd to say you didn't reference the lenders. The ad and your use of it speaks for itself.

[mechanicalman]

Originally Posted by marvymelvin

Yes right, out of all of the loan companies you could have chosen you chose the one that is 100% owned and run by native americans with a native American spokesperson. Absurd to say you didn't reference the lenders. The ad and your use of it speaks for itself.

Yup. You got me. There were 326 google images I found of lending companies charging an 89% interest rate, but I specifically chose the one that would hijack the thread and advance my anti-native American agenda. That was my goal all along. Ban me now.

You said to relax, dude, and I agree with you. No need to mention other posts that, like yours, had no negative intent. My name is Sam Swartz, per the rules.

[marvymelvin]

Hey Sam, I suggest a ceasefire. Lets get back to the BST and buy some cards. Everyone move along, nothing happening here. I never attack, just bite back a bit when provoked, and you were unfortunately in the crossfire. Also feeling a little cranky and "Blue" about my Jays losing today.

[wonkaticket]

Originally Posted by marvymelvin

And why does Wonka get a pass with his picture of three mobsters

I've lived the "thug life" for so long nobody would dare question my posts Brad!

[marvymelvin]

Originally Posted by wonkaticket

I've lived the "thug life" for so long nobody would dare question my posts Brad!

My brother in law Franco and best friend Dino just spit up beer through their nose after seeing your post. Is that really you holding the pineapple??

[wonkaticket]

Originally Posted by marvymelvin

My brother in law Franco and best friend Dino just spit up beer through their nose after seeing your post. Is that really you holding the pineapple??

No that cat has way more swagger than me....I can only wish to be that hardcore.

[DHogan]

Originally Posted by marvymelvin

My brother in law Franco and best friend Dino just spit up beer through their nose after seeing your post. Is that really you holding the pineapple??

Not something I would want to see.

[the 'stache]

This thread.

[Kevin.Shenker]

Originally Posted by marvymelvin

And Shenker your "brief history" on net54 is replete with "complaints" followed by "but I am not complaining", and "questioning" long time collectors assessment of your card, followed by "but I am not questioning". Stand back and watch awhile before you jump in...

Back to the topic at hand please...

Um. Where do you see me complaining about anything?

I have put my opinions in about certain topics, yes, but I don't know that I need to sit back and wait for the more "veteran" people to do so, so that I can more appropriately fit into what others are doing too.

Where did I question anyone's assessment of a card? But also, and maybe more importantly, why do you care so much about my conversation history?