Set collecting is still one of the best ways to enjoy the hobby, particularly with vintage.
I like it as it keeps you in the collecting game, but gives you the time to find the star cards that really make sense with your set.
It takes patience, but it's rewarding.
And ask yourself this question - are high eye appeal mid-grade 1950s/1960s "commons" more or less expensive than they were a year ago, 5 years ago, 10 years ago?
Is it a great investment strategy? Not in relation to collecting the stars as others have noted. So you may not get rich, but you also are pretty unlikely to get slaughtered. Slow and steady as you go.
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