I'm in financial trouble-what would you do?

[vintagetoppsguy]

Originally Posted by Tomman1961

All:
I am 52 years old. I was all set for early retirement when my cancer bills depleted us. Now I just lost my job due to "down-sizing". Anyway - what would you do? I have complete Plyaball sets-but it is hard to part with them. My uncle started them in 1939. I finished them in 1982. I am parting with my T206 Cobb. I loved the card, but he sat in the safe. Waste of money. Then there is my 1955 Clemente. My Dad just died. And the story of the Clemente is I had to have it when I saw it at the card show. My Dad was with me. We pooled all our $ together and I bought it for $40. It was also a coin show. My Dad collected coins. Many years later he told me he gave me all his money from his wallet and did not buy the coin. He lent me his money and I have a PSA 8 Clemente. Nice $ that I need now. Please convince me to sell this card. But it is a card I bought with some of the $ that Dad wanted to use for himself. Stu[id piece of cardboard. A lot of $ involved. I need the $. Memories attached.

Your health, family and bills come first. Sell the cards, don't even think twice about it. You're still young. Maybe you can re-purchase them again someday.

[Bestdj777]

If you have an emotional attachment to the Playball sets, have you considered just selling the cards that you purchased and holding on to the ones your uncle bought? Sets are typically worth less than the original cards. This would give you an opportunity to raise some money while still holding on to the cards with special meaning.

For the Clemente, maybe try to work out a deal for someone where you traded for an absolute beater copy plus cash? That way, you would still have a Clemente that your dad's money went to, but nothing that is tying up any potentially significant source of funds.

If you have to get rid of them, you will always have the memories. Think of it this way, you helped your uncle complete some sets--likely what his ultimate goal was anyway--and you have a great memory of your time with your father. At the end of the day, those memories are what is most important anyway.

[Jcfowler6]

Hold onto the memories and sell the cards. When you get back on your feet you can pick them up again.

I once had several cards stolen from me that had memories attached to them I still have the memories and now I have the cards again but in much better condition.

My prayers are with you.

[Jay Wolt]

Tomman, my situation was/is very similar. And I sold a bunch of stuff to help pay the medical bills.
Hated to part w/ some but hated moreso the thought of losing the house.
You may miss the cards, but you'll always have the memories of obtaining them & collecting them.
I suggest you scan a bunch that mean a lot to you and keep the scans as a reminder of your collection.

"We don't own these cards (& collectibles) we just hold them for awhile"

[joeadcock]

Tomman

Agreed, I would sell them and get them back later(if possible). Think also of losing my collection that has taken years. But I believe that is why I have it, that I will part with it when necesary, for health, kids, etc.

Will pray for you also.

I agree with Jay. Excellently said.

Originally Posted by Jay Wolt

"We don't own these cards (& collectibles) we just hold them for awhile"

In the long run, we do just hold onto them for awhile, as everything else, including our lives. It is what we do with what we have that matters.

[Centauri]

Well, sorry to hear of your financial difficulties. Here are some of my thoughts:

1. My newly-wed wife destroyed most of my top cards (50's-60's HOF'ers) after an argument. But we are still married 20 years later. They are just a hobby - life is higher priority.

2. It hurts to let em go sometimes, but it is really fun to try and chase them down again.

3. IMO, it is not worth keeping the stuff while being stressed out and worried about finances.

[Gradedcardman]

There is always more cardboard to find when things are better. Prioritize and sell accordingly but certainly sell if you need too.

[Peter_Spaeth]

Originally Posted by Centauri

1. My newly-wed wife destroyed most of my top cards (50's-60's HOF'ers) after an argument. But we are still married 20 years later. They are just a hobby - life is higher priority.

Another benefit to slabbing. Angry spouse-proof.

[MyGuyTy]

Originally Posted by Peter_Spaeth

Another benefit to slabbing. Angry spouse-proof.

Not if she has a hammer

[DHogan]

My wife is disabled with MS. I told my wife I would sell all of my cards if it was needed to pay for her hospital bills. She said no, because they mean too much to me. I would sell my cards and my soul if it would do any good. It's a hard thing to deal with when we already lost most of our life savings to qualify for Medicaid. Cards are replaceable.

[Thirteen]

Best of luck Tom - I concur with everyone else about the path laid out for you. I was told I needed to find another job last year and one of the first things I did was make a quick list of my card assets and estimated how much that would help. I was extremely fortunate - even lucky - to have things work out and be able to stay with my company, but that scare has certainly changed my perspective going forward.
Another suggestion along with taking hi-res scans of everything is to make a photo book of your complete set(s) or special cards. Maybe even write some stories about the special memories you have of the cards in the book so they'll always be with you.
Best Regards,
Dave

[joeadcock]

Dave

Originally Posted by DHogan

My wife is disabled with MS. I told my wife I would sell all of my cards if it was needed to pay for her hospital bills. She said no, because they mean too much to me. I would sell my cards and my soul if it would do any good. It's a hard thing to deal with when we already lost most of our life savings to qualify for Medicaid. Cards are replaceable.

Sorry
I will pray also for you and your wife

[jbsports33]

you may need to understand that cards can be replaced and I understand it can be hard. Maybe down the road your health gets better and you are in a better situation. I pray for you and your family and anyone else that has had to deal with tough situations. Collecting, buying and selling makes me happy as well and that is good for your health too! but do it at a time that you can enjoy it and sell everything you can to get back on track

Good Luck!

Jimmy

[CW]

I wish you the best with your financials, and with your health especially.

Good luck!

[tbob]

Originally Posted by Centauri

Well, sorry to hear of your financial difficulties. Here are some of my thoughts:

1. My newly-wed wife destroyed most of my top cards (50's-60's HOF'ers) after an argument. But we are still married 20 years later. They are just a hobby - life is higher priority.

This reminds me of the guy who had arguably the best collection of Zeenuts east of Mark Macrae and beautiful sets of most pre-war caramel and tobacco cards with a collection which ultimately sold over for a million dollars about 15 years ago. He kept his cards in an air-conditioned basement in his house and his wife became furious at him about something and threatened to open the windows, insert the garden hose and flood the basement. Yikes!!! True story. He no longer has the cards, don't know about the wife :-)

[ethicsprof]

Originally Posted by joeadcock

Tomman

Agreed, I would sell them and get them back later(if possible). Think also of losing my collection that has taken years. But I believe that is why I have it, that I will part with it when necesary, for health, kids, etc.

Will pray for you also.

I agree with Jay. Excellently said.


In the long run, we do just hold onto them for awhile, as everything else, including our lives. It is what we do with what we have that matters.

very well said, Frank and Jay.
My prayers for the OP are offered now and will continue.
all the best,
barry

[glchen]

Sell your cards. Your health is more important. Keep the cards that mean most to you, and sell those last. However, if you need to sell them, sell them also. When your financial situation improves, you can probably buy back a lot of the cards. Think about what your dad would say to you if you asked him these same questions. The answers would probably be similar.

[iwantitiwinit]

Sell the cards. Think about like this, your Dad is really somewhat still helping you now because he was instrumental in their purchase/accumulation. If you feel you need to keep something keep the Clemente but get rid of the rest and dont give it a second thought.

[vintagetoppsguy]

I don't mean to get off topic here, but does anybody remember when PSA used to loan money on PSA graded cards? It was several years ago. I think they loaned up to half SMR (or something like that) and the minimum loan was like $5K. I think they quit doing that because I haven't seen them advertise that service in many years.

It seems like it would be a good businees venture for someone that knew cards. As long as the individual (or comapny) loaning the money is holding collateral, what could you lose?