T206 buying advice

[steve B]

- is it better to buy a HOFer at a lower grade or someone else at a higher grade? I do have some preferred players

It depends on what you want more. A Hofer, especially a top tier one, as many have already pointed out will generally appreciate. But if there's a player whose story or career you're really into you can get a very nice example and still be under budget.

- are certain card backs preferable to others? I’ve read some, like Polar Bear, are more rare than Caporal, for example

Some are, but generally the ones that make a big difference will put a much bigger dent in the budget. So I'd say don't worry about the back. If you see two cards that are nearly the same but one has a slightly tougher back. Like one Piedmont and the other Polar Bear or Sovereign, getting the slightly tougher back might be cool.

- I assume buying a graded card is smarter than buying a raw card

If you haven't looked at or handled a lot of them, it probably is. But there are a number of people here that you could buy from with confidence either way.
I won't list them. There's More than a handful, and I'm bound to leave someone out which wouldn't be fair.

- I don’t expect anyone to predict the future but is it “safe” to assume that these cards will always be special, even if they don’t appreciate tremendously in value? I’d buy the card because I love having it and looking at it, not because I expect to flip it and buy a new car

Well, I like the ones with scenery and sunsets (sunrises?) And have for more than 40 years now. I can't say that's how it will be for you. I have had other interests in that time that have come and gone, a few that I really don't collect or look at much anymore.

- how do I display the card? I’d kind of hate to buy it and then keep it hidden and out of view

If the graded holder is polycarbonate, that blocks UV a bit. I don't really display mine, but if I only had one I'd probably display it. A small plate stand will take a graded card, and if the room is sunny, you can always place a light blocking cloth over the card.