Major changes are taking place in the credit piece hobby (credit pieces include credit cards, charge coins, charge plates, etc.). The most important one is people are becoming aware of the hobby.
Because of this, large numbers of people realize credit pieces have value. This is a relatively new phenomenon. Up until 18 months ago, most people thought credit pieces were worthless, but this is quickly changing.
Prices for collectible credit cards explained
It now appears that if someone has only one card or coin, a bid of $10-$15 for it doesn’t impress them. They figure “that’s nothing,” and in our day and age they’re probably correct, so they decide to hang-on to the piece since it has “low or no value.”
In other words, many people won’t sell something such as a worn-out common charge coin or an older credit card for $20. It’s just not enough money. They’d rather just hang on to it to give to their grandkids or see if it goes up in value later. No big hurry since they’ve already owned it for 20+ years.
Then there’s the people who think their cards are worth a fortune. Even though their cards may be 10 years or older it’s hard to tell them they’re common and only worth a few dollars apiece. They don’t understand that only a few of the cards are really desirable and worth $50+ apiece. They think if it’s the same age as the valuable ones then it has to be worth the same.
They also think if their cards are older, then the cards should be worth even more than the valuable ones since “my cards are even older.” Since they feel their cards are so valuable, they feel a person is cheating them when a low bid is made since their cards are so “old.”
Why card quality matters
These same people don’t take grading into consideration, just age. Most older cards are cracked, dirty, or have some type of problem. People see a card listed as being in good condition and think all their cards are good (or better). Again, they think they’re being cheated when they’re told their cards aren’t even in average condition.
Because of all of this, there is a big spread between what people want for their cards and what people are willing to pay for. More pieces are coming onto the market but the prices are generally out-of-whack, since most don’t take proper grading into consideration.
It’s important to understand that a problem-free older piece in average condition is actually quite a find. Most pieces have some type of problem or a low grade. Most people really underestimate how many older credit pieces are actually in low condition when properly graded.
Because of this, prices on properly graded older quality material will probably continue to rise.
Copyright 1989 by Greg Tunks