From baseball cards to coins to boxed toys, many Americans are collectors of something. According to Magnify Money, 83% of collectors also think their prized goods are worth money, meaning they’re often on the hunt for the rarity, first-edition or product goof to round out their collection and make it even more valuable.
If you want to get started building your wealth in this manner, there are several key items to amass now that could pay off in the future — some you might already have laying around.
GOBankingRates recently reported on some prized quarters that were going for more than $200 online. The one in question was a 2000-era quarter that had a misprint on it. When errors and rare mintages like this happen, it can give coins their highest resale value — one from 1932 even sold for $13,573! Check your coin collection for any suspicious imprints and get your change back when using cash for payment to up your chances of finding one of these gems.
2. Beanie Babies
They may be nearly 30 years old, but Beanie Babies are still a hot commodity that sell for a fortune with some collectors. The most in demand plush toys are either ones with mistakes such as Peanut the Elephant — whose original dark blue hue was an issue with the dye — or rare promo items like Peace the Bear. Even editions that come from the original line including Humphrey the Camel can have a higher value. Check out garage sales, thrift shops and the Salvation Army for any stock they might have. You never know where hidden treasures await.
3. Vinyl Records
Those 33s and 45s are having a moment right now as vinyl has seen a huge resurgence in popularity recently. In fact, New York Times published an article that said “vinyl records are now the music industry’s most popular and highest-grossing physical format.” So much so that there’s been a shortage in supply and some artists have had to delay releases while manufacturing catches up. But with the popularity of new vinyl also comes the increasing value of classic records, especially those that are unopened, in mint condition, original pressings or rare one-offs. As time goes on, more records will become valuable, so keep collecting.
4. Older Apple Electronics
The first iPhone was introduced in 2007 and we’re already on the verge of getting the 15th version in 2023, according to Macworld. With the fast-changing nature of Apple products (also including iPads, laptops, watches and AirPods), you may be upgrading your models every couple of years to have the latest features, but don’t toss your old models just yet! There will be increasing demand for older “relics” as the years go by. Moneywise has reported on the fact, saying some first-generation models like the iPod Shuffle seem to be appreciating over time and “as fewer of them remain in existence, the price will go up.”
5. Global Currency
We are getting closer and closer to a cashless society as digital currency becomes the more popular go-to for payments. Some places don’t even accept cash anymore (this became even more of a phenomenon during the pandemic to avoid transferring germs through cash transactions). FinTech Magazine even stated a cashless world “could very soon be a reality.” So start collecting cash while you can, because once it’s gone, the remnants will become very valuable. In addition to American dollars, you might want to stock up on extra Euros and Pesos when you travel.
6. Funko Pop Figurines
Toy collecting is a billion dollar industry that is continually growing. According to Market Decipher, it raked in $12.4 billion in 2021 and is projected to reach $35.2 billion by 2032. One of the biggest in-demand toys right now is from the Funko Pop series — cute figurines with oversized heads that depict celebrity and pop culture, with everyone from Selena to Edward Scissorhands. According to Money Wise, a Chewbacca edition recently sold for $2,700 at San Diego’s Comic-Con, a huge markup from its $20 retail price.
7. Celebrity Collaboration Goods
When BTS partnered with McDonald’s in 2021, it broke the fast food mold as fans went into a frenzy to get everything from the line — even the placemats and paper bags. Looking on eBay currently, a paper bag is going for as much as $365. Celebrity-partnered launches are very valuable and often fetch good money after the limited-edition capsule is off shelves. Stores like Target and H&M have found great success in teaming up with Victoria Beckham, Zac Posen and Stella McCartney to offer budget-friendly designer goods. Because the collaborations are short-lived and very limited in quantity, they remain valuable for years after, especially as the secondhand resale market continues to expand.
8. First-Edition Books
E-readers may be the go-to method for digesting a good novel in 2022, but there are still those who love a good hardback, especially a first-edition. According to Nerdable, a first-edition of Shakespeare has fetched more than $6 million, while “The Codex Leicester” by Leonardo Da Vinci sold for nearly $31 million — the most expensive book ever sold. While these books are extremely rare and impossible to find, having some good forecasting ability to know tomorrow’s next big thing could pay off. Even “Harry Potter” and “Twilight” had to start off somewhere, and first-editions of those recent titles are quite valuable now, as well.
With news becoming more and more sensationalized as the days go by, holding onto those front page headline-makers could earn you a small fortune in the future as new generations cling to the unbelievable moments in history. According to Money Wise, even papers from as recent as 2016 when former president Donald Trump won the election are going for $30 or more, which is about 100x what they cost on the newsstand. Keep them in good condition and under a protective cover to prevent yellowing and you could have some valuable relics in the coming decades.
More From GOBankingRates