Borrowing against graded cards

[vthobby]

Originally Posted by Peter_Spaeth

Man, why collect at all if you will never see the cards? Or are you a pure investor? Pre-War Safe Deposit Box, a division of PWCC. Whatever works, just hard for me to fathom.

If you knew how many times I go to my local safety deposit boxes to look at my cards, I would blush. Are you serious? I have collected since 1976. It is in my blood. If I lost my cards in my home to theft, fire, water, I'd be devastated.

The fact that they are in safety deposit boxes is due to my fear of keeping them "viewable". It is unfortunate but when a card or collectible reaches a certain value then I think it needs some type of protection.

I have thousands of collectibles in my reach that are not considered valuable enough to lose.

We all collect because we LOVE it I hope. Once things get valuable there is an obvious choice we all need to make. Keep it under the bed or get it to a bank or get it to the Vault (in the future). I'm not happy that I can't view my cards every day but I am at peace knowing where they are for viewing once a week!

Peace, Mike

PS And in 6 months, I'll be at peace knowing that some of my cards will be in the Vault out west and INSURED and viewable 24/7 on my computer. I like to diversify. I will not send all mty cards there but I love the notion.

[Peter_Spaeth]

Originally Posted by vtgmsc

If you knew how many times I go to my local safety deposit boxes to look at my cards, I would blush. Are you serious? I have collected since 1976. It is in my blood. If I lost my cards in my home to theft, fire, water, I'd be devastated.

The fact that they are in safety deposit boxes is due to my fear of keeping them "viewable". It is unfortunate but when a card or collectible reaches a certain value then I think it needs some type of protection.

I have thousands of collectibles in my reach that are not considered valuable enough to lose.

We all collect because we LOVE it I hope. Once things get valuable there is an obvious choice we all need to make. Keep it under the bed or get it to a bank or get it to the Vault (in the future). I'm not happy that I can't view my cards every day but I am at peace knowing where they are for viewing once a week!

Peace, Mike

If the bank is a good compromise, why send to a remote site where you presumably won't be able to view them at all?

[vthobby]

Originally Posted by Peter_Spaeth

If the bank is a good compromise, why send to a remote site where you presumably won't be able to view them at all?

The insurance angle is what interested me. I will read the fine print thank you. Yes, I could go out and buy insurance myself but I do not want the hassle. PWCC has been dealing in HIGH end cards for years, I trust them. Their client portal is above reproach. I LIKE them.

My bank is nearby, I visit it regularly but I like to diversify my collectibles and this is just another option. I will not send all of my cards to the Vault. I like having collectibles in different places. As someone who has experienced a robbery and theft of some of my collectibles in the past, I am very leary of all avenues of storage.

Diversification of where I store my stuff is key to keeping me sane and happy.

I may lose a portion of my collection, but I will never lose all of it.

Peace, Mike

[Rhotchkiss]

Cory, great point re sales tax. Hmmmm.....

[AddieJoss]

I do not think one should look at the lending as a “margin” type of Vehicle. If one could use short to intermediate lending for other purposes that come up in life but may not want to sell a specific card or cards, this allows that to be facilitated. A typical bank will not lend based on baseball cards. Def not for the masses.

[sphere and ash]

Thank you for alll the feedback.

[steve B]

Originally Posted by vtgmsc

PS And in 6 months, I'll be at peace knowing that some of my cards will be in the Vault out west and INSURED and viewable 24/7 on my computer. I like to diversify. I will not send all mty cards there but I love the notion.

That just seems odd to me. Why not just save the scans and sell them all? It would basically be the same.


And for the record, having a tight budget has at times made me do what I call "collecting vicariously" which consists mostly of saving scans from Ebay and auction houses. Especially for stuff I'll probably never own.

But that's not the same as actually owning cards.

[bnorth]

Originally Posted by steve B

That just seems odd to me. Why not just save the scans and sell them all? It would basically be the same.


And for the record, having a tight budget has at times made me do what I call "collecting vicariously" which consists mostly of saving scans from Ebay and auction houses. Especially for stuff I'll probably never own.

But that's not the same as actually owning cards.

As another guy on a tight collecting budget I sometimes make custom cards so I have a real card to fondle.

[vthobby]

Originally Posted by steve B

That just seems odd to me. Why not just save the scans and sell them all? It would basically be the same.


And for the record, having a tight budget has at times made me do what I call "collecting vicariously" which consists mostly of saving scans from Ebay and auction houses. Especially for stuff I'll probably never own.

But that's not the same as actually owning cards.

Steve,

You kind of answer your question to me in your last sentence. I LOVE my collectibles, but at the same time, I do not want them stolen, or burned or lost. I can hold them each week that I visit them at my bank. I also have cards at home that are not as valuable that I enjoy. I am a 24 year Army overseas combat Veteran and frankly they are therapeutic to me. If I do not NEED to sell then I do not. Sometimes like all of us, we get unexpected expenses that force us to sell. I do not like those times. Like I mentioned before, I will not send all of my cards to the Vault, just some of them. I need to see if its viable as well. Thanks!

Take care,

Peace, Mike