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Originally Posted by mrreality68
I would agree probably 80 % investing and what happens the big money starts buying up the higher grade cards so they are no longer available or affordable so the middle grade card becomes the go to piece for more people this driving demand and lowering supply and thus driving up prices. Then collectors look for other collecting options ie memorabilia, photos etc and those items go up as the demand also. So collectors still collect but buy less because paying more or they buy lower grades than they had in the past
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I think cards have become a fungible commodity, like coins and metals in general, stocks, bitcoins, art, etc., and there are no doubt consortiums of investors here and abroad moving into and out of them like any other commodity with the help of professional advisors, AHs, etc. The further you move in the hobby away from graded cards, into memorabilia and oddball of all kinds, the percentage of collectors probably goes up and that of investors goes down, but as you say, there is a snowball effect driving everything up as collectors search to find affordable niches in the marketplace in which they can still compete.