Coming from our background in eTopps this is an interesting discussion. Most eTopps cards had a print run of 1000-5000 which has to be somewhere close to the known number of T206 cards? Anyway, eTopps cards can be bought and sold on eBay without ever having to take possession of the cards.
So accumulation of the cards was a very interesting concept that many many people tried.
In 2002 a user attempted to purchase every Bret Boone card and he got over 800 out of the 2000 before he had pushed the price beyond reason (I think it was about $40 then). He started selling some and now the card is basically less than $1. Because there is absolutely no reason to have 2000 Bret Boone cards.
Now, T206 is a little different in that it is kinda cool to have that many of one player and compare them, etc. But it's still going to have the same drawbacks. There is an unknown number of cards out there. If he has 200 of the Titus card, there could be 5000 more out there. It's a long term "play" that will get out of hand quickly if he starts paying $100+ for each card. The supply will come out to take advantage of the market and people will bid him up just to make him pay more.
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