Remember when everyone was convinced that Beanie Babies would make us a mint if we kept them for 20 years? Remember the crushing realisation that that was utter rubbish? Well, it turns out the same wasn't true for Nintendo cards, especially for young Caleb King, who has so far turned a tidy $80,000 (~£58,720) profit on his collection.
King has reportedly been buying cards since he was a teenager, making sure to invest in the most valuable ones despite his parents' confusion. In an interview with Fox 5 Atlanta, he talks about his drive to invest.
"A lot of people tried to discourage me from doing it at the beginning, especially my parents," he laughed. "They said, ‘Hey you shouldn't be spending that kind of money on these cards, that's ridiculous.’ I didn't listen, and it paid off."
What's even better is that King, who's saving up to go to medical school to be an orthopaedic surgeon, hasn't even sold his most valuable cards. He has a first edition Red Cheeks Pikachu, which he estimates will net him $20,000 (~£14,680) and another 21 cards that he estimates selling for upwards of $50,000 (~£36,700).
The "Red Cheeks Pikachu", for reference, is that super-chunky piece of art in which Pikachu looks like he's had one too many Poké Puffs, and you can, indeed, find a few pricey ones on eBay.
Now that his hobby is making huge stacks of Pokédough, his parents seem to have come around to the idea, saying that they're "proud of his character [and] his drive". Meanwhile, our dads just complain that our Beanie Babies are taking up valuable space in the shed.
We'll be laughing when the bean stocks finally start going up, dad. And you won't get any of the profit.
[source fox5atlanta.com]
Comments 32
stares at student loan debt i wonder how much my old magic the gathering cards are worth.
Crazy that these cards would end up being so valuable. If I only knew as a kid...
I gave all my cards to my brother about 15 years ago.
He has some amazing cards and can probably make a down payment on a house now. Lol
No hard feelings from me. Happy to help him out. Although I just wish I bought more cards and kept a deck.
$80,000 for a card collection ?! 🤯
@Ryu_Niiyama If you have the holy grail of Magic the Gathering cards The Black Lotus then you'd pay that off easily.
Lol unless you're doing a degree in Law, Medicine, or Science/Engineering, you're getting absolutely robbed with paying that much for college. Don't go, save the money.
What a sad, depressing story. Education at any level shouldn’t be treated as luxury good one must sacrifice for if they’re not incredibly lucky but a fundamental investment for their good and the common good. He should’ve been able to have sold them to travel the world or something. I hate my country so much its a world wide embarrassment.
@Dezzy even medicine has people who quit from stress, those you listed could end in 60hr weeks
@GrandScribe
With only the small matter of who is going to pay tens of thousands for everyone's education..
@MichaelHarvey its just magic there's no money to thoroughly invest in people's education and by extension the nation well being but there's enough for a tax code written by the rich for primary benefit of the rich, ballots galore e.g. the Wall St. Banks, the airlines, wars of aggression e.g. the Iraq War, subsidies for highly profitable companies like Exxon and BP the examples go on and on.
@AndyC_MK84 he might as well have played a slot machine, for millions people they can only dreams of being so lucky. Even with a degree like that a lot of people have trouble financially because usury is legal. This system ain't an act of some god its a system made by human hands it can be fundamentally changed.
Still have my childhood collection. Mainly first edition and the e reader era. My dad put them in a supply box and kept them for years. I joked and told him that’s gonna be my retirement fund. May not be far from reality now 😂
The problem here is the price of college. And this won't even fully cover his expenses.
@AndyC_MK84 And yet we fund primary education with tax dollars, which is either clearly going to waste or is working and all the more reason we need to reform it and enforce higher learning.
On the flip side, I cannot even begin to trust either government to not waste or mishandle the funds (and are notoriously easy to pull off scams) or private enterprise to not make it the absolute price-gouge that it currently is.
Good for him, though this is definitely the big exception when it comes to how many people over the last decades have bought up collectables in the hopes that it would be worth a fortune someday. Not that the lottery-like odds have ever stopped news outlets from implying you too might have a five figure trinket in your basement. Also he might have a harder and harder time finding buyers for those other cards as disposable income dries up with the pandemic and political gridlock pressing further onward.
I’ve still got all mine. Too scared to look up what they’re worth incase it’s like, yeah all base cards are worth a fortune but not your particular ones. 😅
@Dezzy There’s plenty uses for a university degree, they open doors even outside the field in which you’re studying. Education should always be encouraged, especially seeing that here in the UK, if you can pay your loan back then you pay. If you can’t afford to repay, they write it off. So essentially a ‘no win, no fee’ scenario.
@AndyC_MK84 the divine rights of monarchs lasted for thousands of years that wasn't a testament to it being a just system. Slavery lasted just shy of nine decades in the United States that length wasn't a testament to it being a just system. If higher education was affordable to all Americans or even most Americans this story would note worthy by you or me or anyone else.
What's unfair is the USA billionaire class this year added over $1,500,000,000,000 to their collective bank accounts during a deadly pandemic and economic recession. They don't need any of that money but the 128.45 million households sure could use an infusion of $11,677 and the economy could too. We don't even need to raise taxes we just need to eliminate profit making in education and stop doing things rich people and big corporations want because it benefits them finically like wasting $826 billion on the military.
@nessisonett
The UK is a different situation. It's mostly cheaper (it was wayyy cheaper when I went) and the student loans are very reasonably set up. The US is different. College is mostly a scam in the US, where the prices have been deliberately inflated by college bureacrats, and the loans don't have the same protections they do in the UK.
@AndyC_MK84
@AndyC_MK84 “I’m not sure how the US system works”
This might be worth doing some research into. It’s quite eye opening.
@AndyC_MK84
Good luck with the exams. If I had to do it again, I would opt for distance learning whilst working. They tend to become more well-rounded.
@Northwind Eeeeesh
As with pretty much all of these sorts of things, I again take for granted just how much less awful our system is. Of course it’s not perfect but seeing first hand the effects of rising debts with little to show for it... it’s not hard to see why it’s the ones who can afford who end up with the degrees in the States.
@AndyC_MK84 I sympathise that you may not want to spend one of the last nights of the year looking up stats on foreign loan system, but I think it’s fair to say that the UK and US systems are fairly different beasts.
I think it’s also worth moving away from terminological extremes such as ‘broken’. While I like labelling things as ‘broken’ as much as the next man, there’s a risk of implying that things could not be worse. They could. But they could - and should - also be much better.
The points you’ve raised are indeed valid, but they don’t stop there. One of the greatest differences is in terms of the actual loan repayment system. The US is obviously a big country, and there may be more variation that I’m taking into account, but to simplify things let’s compare my loan repayment to my American friend’s.
If I’m unemployed, I don’t have to pay back. If I’m earning under a certain threshold, I don’t have to pay back. If I’m earning over it, I only pay on a percentage of the money over that threshold. If I die, I - nor anyone else in my family - has to pay it back. If I reach a certain age, it gets written off. It’s basically a tax on my income, and only over a certain amount, assuring that even if I don’t get a high paying job, that fact I went to university won’t absolutely cripple me for all time.
My American friend on the other hand has to pay almost half her salary each month (and she’s not on a particularly low salary). Even if she didn’t have a job, she’d still have to fork out the money. It never gets written off. If she dies, it gets passed onto a family member, essentially crippling them instead. It just goes and and goes and goes, and puts serious limits on what jobs she can take because she literally can’t afford to work for under a certain wage. It’s... quite a piece of work.
Now, I have other American friends who have had no problem with student loans. Because their parents work in high paying positions and made ‘paying for their kids college fees’ a central financial concern as soon as (or even more) the kid was born. And no doubt some would say, “if you’re not prepared to pay for your kid’s education you shouldn’t be having kids at all”. But it’s such an alien mode of thought for me.
Like you said, there are cultural issues at the heart of this, as with all this. But I count my blessings that I got educated in the UK and not the US whenever this sort of topic comes up. Or rather, I suppose I should say I’m glad I’ve got UK loans. I don’t think the UK system is perfect by any means (and there’s a lot of room for manoeuvre between ‘completely free’ and ‘£9000+ p/y), but my god is it preferable to what the those in the US have to deal with.
@AndyC_MK84 I would very much appreciate knowing what god set it in stone humanity’s fate to never create a fair society. Fair isn’t the same as perfect or a utopia, I only mention that to nip accusations I think a perfect society or utopia is possible in the bud.
The United States is a nation in which all sectors of the economy are oligopolies, duopolies or full on monopolies. You’re personally attacking me for the audacity of living in such a society its absurd. Its akin to attacks American supporters of slavery lobbed at abolitionists for having the audacity of living in a society built on slavery and wanting it abolished and replaced.
I know enough about economics to know that $1,500,000,000,000 sitting in a bank account is worthless to the economy but that same money flowing through the economy would stimulate it. I know that oligopolies, duopolies and monopolies minimize wages and benefits for the working class while maximizing them in the extreme for the owner class. I know that the wealth of the owner class is used to bribe and intimidate politicians into ignoring the will and needs of their constituents which distory not just democracy but the economy particularly in the form of a widening income and wealth gaps. I know that workers of a business equally owning and democratically structuring and operating their business would be an imperfect but fundamentally better alternative to the authoritarian private ownership we have today.
I can't argue with the results but I grow too attached to things like this to use them as an investment. I would regret the choice because even if he sold them for 80k he'll never reassemble that collection in the future for anywhere near that price.
Let's all hope that once their done with uni, McDonalds salaries will be high enough to make it all worth it!
@AndyC_MK84 Well it still seems like everyone needs a four-year degree or something, because dealing with average people is murder. Just cram the first 2-4 years of college into tax-paid primary education by cutting out the bloat, still allowing people to choose a career path through their risk/reward dollar, and let's start with that small step towards advancing our collective intelligence.
@Kriven Yes, but only the misprinted ones. Most cards won't have red cheeks and instead they will be yellow: https://efour.proboards.com/thread/5803/base-pikachu-artwork-card-variations
80k??? That's crazy! 8o
Happy to live in a country where education is mostly free
@Khalic Free college isn't free.
https://www.edsurge.com/news/2021-03-18-the-awkward-truth-about-free-college-it-isn-t-truly-free
People here need to understand that.
@Dog sorry i should have explained I come from switzerland. Public university here costs around 1000$ equivalent per year. This fee can be waived for good reasons (limited income, etc.). Parents are obligated to pay for the fees and basic needs, as long as they can afford it and as long as the kid doesn’t have a formation or around 25yo (need to check that part). In case there are no parents, no money, or any other reason, social security kicks in, or the kid can get a state sponsored scholarship. No need to repay these. So it’s not free, but no need to sell a kidney.
The logic is, these kids will give back way more money than what they cost.
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