What do do with some serious coin?

rob167 · Feb 24, 2010

i have sold off a few of my cards lately and have amassed over $7,000 in cash. i have had two collectors put down-payments on three of my cards that, if they follow through (i have no reason to think they won't), i will have over $12,000 cash.

originally, i had planned on purchasing a babe ruth cut autograph, but since my funds have exceeded what i consider to be a fair price for one, i can't help but wonder what if.........

i must admit that i am very naive when it comes to investing and know very little about stocks and bonds. i do not mind some risk (without risk, there is not much liklihood of making $), but i also do not want to completely lose out on my initial investment.

that being said, what would you do with the cash? buy a couple cases? buy few cards strictly for PC? invest it in the stock market? if going the stock route, what advice would you give? buy some bank bonds? buy a car? down-payment on a house?

SERIOIUS opinions appreciated. feel free to pm me if you do not feel comfortable posting for everyone to see. all information will be kept in the strictest of confidence.

200lbhockeyplayer · Feb 24, 2010

My advice? Don't ask a baseball card board.

blitzerlover · Feb 24, 2010

200lbhockeyplayer said:
My advice? Don't ask a baseball card board.

This.

All The Hype · Feb 24, 2010

200lbhockeyplayer said:
My advice? Don't ask a baseball card board.

Exactly what I was thinking. $12k is too much money for a thread on a trading card message board.

kdailey4315 · Feb 24, 2010

For now I would say put it in an account that pays interest. Every time you think you found something you want to buy wait 5-7 days to really assess if you're comfortable paying that much money for whatever it is you want to buy.
If you want to test the stock market talk to a professional meaning don't listen to 99% of the people on here.
If you want to buy a car think about buying a classic car. They are much cheaper than they were 2-3 years ago and there are deals to be had. Wait for the economy to come back and sell it at one of the classic car auctions.

tonsofcommons · Feb 24, 2010

Wanna buy some cards? :^)

Really, I think you should do something nice for your wife and kids, and put the rest in a retirement fund.

MOFNY · Feb 24, 2010

Change your life for the better. $12,000 for most folks doesn't come around that often. Take a genuine step forward. That's my plan anyways.

darrend505 · Feb 24, 2010

If you have any debt, pay it off!!!! Invest the rest!!!

NYCrulesU · Feb 24, 2010

I sold 8 cards for $12k about a year or so ago. I bought a big screen tv, brand new washer/dryer, a new bedroom set that my wife really wanted and a few other things that we needed as a family. Good luck with your decision.

Guest · Feb 24, 2010

If I had $12,000 I would make a serious run at this...

But I'm not married.

brumbach · Feb 24, 2010

OK, I'll play crazy irresponsible and go with a nice 51B or 52T Mantle or one of the 33 Goudey Gehrigs or Ruths, the green Ruth is my favorite. I'd definitely go with something vintage and slightly mainstream that would be easier to move in the event that you want to sell later on. Nothing modern or wild or crazy with that kind of money if it were me. I'd also look into a safe or deposit box.

My wife and I have an agreement that all of the money I make from cards is mine to put back into cards, we have full time jobs to pay for all of the real world garbage that depreciates in value the instant you take it home. So if I were able to accumulate 12K I'd be ok putting it back into cards, that's why I'm doing what I'm doing in the first place.

JoshHamilton · Feb 24, 2010

Buy something at a major auction house that's so rare it will not decrease in value and will always have deep pocketed collectors chasing them

E107 Breisch-Williams HOFer or an N167 Old Judge common would be my recommendations

craftysouthpaw · Feb 24, 2010

(1) Pay off debt
(2) Invest for the long term under the guidance of a professional.

For what it is worth, over the last 2 years I have kept all excess cash in interest bearing money markets and CD's. I still don't trust the market given the ongoing uncertainty with the dollar and the issues with commercial real estate. I keep waiting for the other shoe to drop with the market but it keeps chugging along so what do I know?. My 401k is maxed out every year so I don't want all my nest egg to take a beating off the market collapses again. But that is just my relatively uneducated thought process.

(3) Set up college funds (529 plans) if you have kids
(4) If you must "invest" in cards, buy high grade vintage singles (PSA 7's at a minimum).

lisu · Feb 24, 2010

I had the same question recently because I just got paid a large bonus. Here is what I decided to do...

Put 25% of the net amount into my stock portfolio (which I usually just buy S&P 500 and Goldman Sachs Bond fund).
Paid off bills
Spent $ buying 4 cases of wax - 2 cases of 08 bdp, 1 case of 07 bdp, and 1 case of 06 bdp

I still have about 25% of the net amount left but will just splurge at spring training.

jdbrak · Feb 24, 2010

How much will you have left over?

Seiya · Feb 24, 2010

GO get a 7000 dollar massage chair. I sat in one last week and wooooooooooow.

bballcardkid · Feb 24, 2010

mrwhitesox30 · Feb 24, 2010

If you buy a new car, make sure to get a Todd "Van" Poppel, because new cars have the same future value as him.

TomMurry · Feb 24, 2010

My advice...
Buy ONE card you have always wanted and invest or deposit the rest. Take care of bills, debts, family, etc.

gonzagacubs · Feb 24, 2010

If you have children, put it away and use to help pay for college. I can only imagine how tempting it would be to spend it right now.

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