Rookie Mantle card found in attic sold for $12.6M

[terra]

If the guy who bought it sells it for $20 or $30 million in a few years (highly probable)…is he still a fool?

All it is, is an investment. Probably safer than the stock market these days to be honest. It’s the same as rare coins. You’d be shocked at the quick profits I make buying and selling coins. There’s a lot of us “fools” who make a ton of money doing this sort of thing.

The rich don’t get richer. It’s the intelligent ones who get richer.

I don't know if you are looking at it the right way. Considering the daily evidence of fools and their money, your contention about rich not getting richer is kind of doubtful. A lot of rich ain't smart but have good business managers. As regards investments, all have risk. The so called experts claim the Stock Market over a 50 year period is the best investment there is; but one can point out that was in the past and who knows what the future brings.
My father was a coin collector and I have had some interest in it; he was almost exclusively US coins though. As regards an investment they are not very good over long term; the hot periods usually do not last more than 5 years or so and then its 10-20 years between them. The price of silver and gold have affected it more than anything else.
As regards collecting something as a business, I doubt that many can do it very well, there are so many variables.

 

[fredp22]

I deal heavily in the world coin market, and the ancient coin market. I can tell you that those are as strong as ever. I’m not a US coin person, so I can’t speak specifically about them. But I would assume they are strong as well.

Of course, you’ve got to be wise with the coins that you buy and sell…….just like any investment. Prudence and good decisions are key.

I sell in the world/ancient coin market as a hobby (not my main job), and I am making about $2k in profit a week on average just from that arena. It’s definitely been a better investment strategy for me than the stock market.

interesting so you would know

I only have a modest amount of collector coins (about 200). If you take out the precious metals about 20. After your email I went on-line and checked. The 20 are still relatively flat in price from when I bought all with holding period over 20 years.
Of the other 180 or so they are dated prior to 1964 (year us coins stopped using silver) their price has moved more with the price of silver than much if any appreciation for time and/or rarity.
The Kennedy half dollar is a good example since they were made thru 1964. The 1964 (silver) coin has appreciated most and is almost solely in demand while the rest of the run (1965 on) for a MS60 coin is currently $5- the same price as the last 20 years at least.
talking to dealers they seemed to be bumping the price more because of the current physical demand for silver than for the rarity of the coin. They bump is also higher if I buy than if I want to sell.

with the foreign coins you deal in are they all appreciating or just the coins made with precious metals? I'm also a little surprised because digital currency when it comes I expect to hit the coin market since their use/demand would be impacted downward. Also surprised because the dollar is so strong. why would market be so strong for a coin in a fiat market that is depreciating. Since gold is a stable price (as u know the fiat value is what goes up/down in value making the coin gain/lose in inverse) are the coins appreciating or is the local fiat just depreciating and these precious metal coins in demand as a safe haven

 

[fredp22]

There are only six of these cards in existence and will continue to gain value. I would buy it in a heartbeat!

really..why?
lets put this in relative terms. Guessing u have about 2 million. This card comes up for 1 million. will you buy it? I wouldnt and I've been wrong so far but a biigger fool theory can collapse any time in one day. Just because theres only 5 others who cares?
When the tulip market collapsed there were people that had 1 of a kind tulips that took years to make. their value went to zero. Same with beanie baby-there was stories about the rarity of some-they're all worth about $.50 today.
We keep reading about the markets that remain strong but ignore the ones that collapse which outnumber them. These products have no value.
When our economy corrects many of these markets will correct drastically or disappear (Nike/old sneaker, old video cartridge, muscle car, most crypto etc).
if u really believed the card market will keep appreciating the football market is still relatively strong and young. Buy a Brady rookie card but I bet u wont (I wouldnt). These markets can easily change and almost always do.
The only way to sell a product with no value is the need to find a bigger fool. There is nothing else driving the market

 

[terra]

really..why?
lets put this in relative terms. Guessing u have about 2 million. This card comes up for 1 million. will you buy it? I wouldnt and I've been wrong so far but a biigger fool theory can collapse any time in one day. Just because theres only 5 others who cares?
When the tulip market collapsed there were people that had 1 of a kind tulips that took years to make. their value went to zero. Same with beanie baby-there was stories about the rarity of some-they're all worth about $.50 today.
We keep reading about the markets that remain strong but ignore the ones that collapse which outnumber them. These products have no value.
When our economy corrects many of these markets will correct drastically or disappear (Nike/old sneaker, old video cartridge, muscle car, most crypto etc).
if u really believed the card market will keep appreciating the football market is still relatively strong and young. Buy a Brady rookie card but I bet u wont (I wouldnt). These markets can easily change and almost always do.
The only way to sell a product with no value is the need to find a bigger fool. There is nothing else driving the market

there is lots of publicity in the rare cases like this; nowhere near as much on the many more cases where something is supposed to go for lots and sells for little.
When you are talking rare items, its completely unpredictable. Great art works are one of the few things that never seem to go down in value; but then when talking Rembrandt, etc that is something in a completely different galaxy than a Micky Mantle baseball card.

 

[fredp22]

there is lots of publicity in the rare cases like this; nowhere near as much on the many more cases where something is supposed to go for lots and sells for little.
When you are talking rare items, its completely unpredictable. Great art works are one of the few things that never seem to go down in value; but then when talking Rembrandt, etc that is something in a completely different galaxy than a Micky Mantle baseball card.

yes art is different-it depicts talent as well as being the only medium for pictures pre 20th century so we'll ignore art

I agree with your point of rare items but only to a degree.
Not saying the Mantle card has no value- I would put it around $2000-3000. If an original picture of say Abe Lincoln is only worth $5000-$8000 (they are all 1 of 1 and when cameras were just starting) dont see how a bad picture from a bubblegum company of Mantle done in 1952 can be 12.5 million.

 

[terra]

yes art is different-it depicts talent as well as being the only medium for pictures pre 20th century so we'll ignore art

I agree with your point of rare items but only to a degree.
Not saying the Mantle card has no value- I would put it around $2000-3000. If an original picture of say Abe Lincoln is only worth $5000-$8000 (they are all 1 of 1 and when cameras were just starting) dont see how a bad picture from a bubblegum company of Mantle done in 1952 can be 12.5 million.

As the saying goes in the end an item is worth what someone is willing to pay for it.
Which goes back to the part about fools and their money in this case.

 

[Tabascocat]

really..why?
lets put this in relative terms. Guessing u have about 2 million. This card comes up for 1 million. will you buy it? I wouldnt and I've been wrong so far but a biigger fool theory can collapse any time in one day. Just because theres only 5 others who cares?
When the tulip market collapsed there were people that had 1 of a kind tulips that took years to make. their value went to zero. Same with beanie baby-there was stories about the rarity of some-they're all worth about $.50 today.
We keep reading about the markets that remain strong but ignore the ones that collapse which outnumber them. These products have no value.
When our economy corrects many of these markets will correct drastically or disappear (Nike/old sneaker, old video cartridge, muscle car, most crypto etc).
if u really believed the card market will keep appreciating the football market is still relatively strong and young. Buy a Brady rookie card but I bet u wont (I wouldnt). These markets can easily change and almost always do.
The only way to sell a product with no value is the need to find a bigger fool. There is nothing else driving the market

I would buy two of them. There are a lot of stupid people with a whole lot of money out there!

I would not invest in any other sports cards though, including Brady and Jordan. The few rare baseball cards will always have a buyer with $$$ burning in their pocket

 

[fredp22]

I would buy two of them. There are a lot of stupid people with a whole lot of money out there!

I would not invest in any other sports cards though, including Brady and Jordan. The few rare baseball cards will always have a buyer with $$$ burning in their pocket

lol

just remembered why I quit collecting coins and I just about guarantee that will happen here.
The Chinese around 2000 started counterfeiting Morgan Dollars. That US currency is hard to copy but they had mastered the counterfeit and were flooding the market driving PCGS crazy.

Look how easy these cards would be to copy. You buy 1952 Topps cards on EBAY in bulk (or if you can find it NOS cardboard). You scrape off the front and get a quality printing company to put on a new front (these were 2nd rate photos). How the heck is the grading company going to detect it. If fact if you think about it nothing your doing is even illegal (not that they care). It not currency. North Korea, China, Russia are probably looking at it if not already involved. When they figure out that they could make a good copy for $1000 or so and sell for hundreds of thousands into millions they will do it.

 

[atlantacowboy]

yeah I see the rarity part but same can be said for the extremely rare beanie babies or that 1 of a kind tulip. You have a rare picture of Mickey Mantle but like an NFT you can see/make pictures of the card on the computer. It has no other value. The stamp and coin market are also both getting soft and they work on the same premise.
one day I just see the rest of this market collapsing. Just like first time someone said "only 2 other of these beanie babies were ever made" and response was "who cares" he bigger fool market can turn on a dime.
I have nothing against this guy who made the money or guy that bought it but if you had 12 million would you spend it this way? very risky to me

Collectors at that level are treating the rare cards like art. They are just collecting. They don't need the money.