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Originally Posted by Peter_Spaeth
Yeah I agree re no intrinsic value but that is true of almost any collectible, no? As long as people have disposable income, they will value collectibles, it's human nature And if they don't have any income it will be because the economy is so bad that stocks won't be worth anything either.
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Absolutely a big +1. People like collecting history, especially Americana in this country, and a key card has every bit as much intrinsic value as any other collectible. The card is an instant, just a single moment in the prime of the player's life left behind, which connects you to him and takes you back to the time. That is value--psychological value, but substantial value nonetheless. The 1933 Double Eagle that auctioned off at $7+ million would have a bullion value of a microscopic fraction of that, and people don't spend 8 figures on a '60's Ferrari to drive it around, not even at the Monteray vintage car races. They spend that kind of money because they like these objects, they gain prestige in owning the best for their collections, and they are able to do so.
Good posts,
Larry