How Collections Can Help You Collect Cash
By Shannon M. Medisky
Collections can be fun. There’s the thrill of the hunt, looking for that all-important piece to round out the collection and then the excitement of finally landing it. They give a sense of accomplishment. Accumulating a collection can take time and effort. Real collections are created over time and are not for those who give up easily. They can help build community. Whether it’s between family members or friends, collections can immediately create a common bond. But collections can be great monetarily speaking, too. And here’s just a few ways how:
Collections can build value through appreciation or rarity. As it turns out, many collections can collect a whole lot more than dust. They can collect some serious cash too. And it needn’t just be precious metals either. From vintage video gaming equipment from the 1980s to old metal lunch boxes to even your old toy collections tucked away in your attic from when you were young, nostalgia can rack in some serious money. Wonder just how much? Visit or call your local pawn shop or click on over to Ebay to find out. Generally speaking the older and the more rare an item, the greater its value. What’s sitting in a box and collecting dust bunnies for you might very well be worth its weight in gold to someone seeking that “just right” item for their own collection or that one perfect thing to help recall great memories of the past.
They can be a quick source for emergency cash should it ever be needed. Collections aren’t just fun. They can be an insurance policy, too. Whether you’ve thought about it or not, a collection of nearly any kind can be counted on as a quick and liquid source for emergency cash. Whether you piece it out or sell it in its entirety and whether it’s postage stamps, Pez dispensers or precious stones, collections are a convenient way to get cash when you need it and without having to incur the cost of paying interest or loan fees.
Capitalize on your collection knowledge, too. Knowledge is power, and—believe it or not—it can be cash also! If you’ve got a collection, chances are pretty darn good that you’ve got some expertise, too. Put it to use to earn some money. Provide your services as a knowledgeable consultant. Enable others to hire you to seek out, find and secure elusive items for their own collections (for a finder’s fee, of course!). If your particularly tech-savvy, consider starting a blog focused on your collection or a similar topic. Place a PayPal button on the site for donations and consider placing ads on the site to bring in additional revenue. Collections can be a lot of fun, but they can also be profitable too.
Collect it solely to flip it for a profit. It can be profitable in real estate, but it can be profitable with collectables too. Enjoy the thrill of the hunt, but not so much the taking up of real estate in your own home? Then profit by helping others fill out their own collections. Hunt down, locate and secure collectibles to sell to others looking to build or fill in their own collections. Just be sure to have a buyer in mind and a good idea of what is and isn’t a good deal on items before plunking down your own cash to try to sell it for a profit later on.
Photo credit: Jeff Belmonte
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