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#24

08-29-2016, 05:44 PM

Peter_Spaeth Peter_Spaeth is offline

Peter Spaeth

Member

Join Date: Apr 2009

Posts: 34,278

PSA has graded 28 mint Rose rookies. One (for now) carries an arbitrary "10" designation. I would not like my odds of being able to pick that 10 out of the group if I could not see the flips. When the value of something derives solely from the flip a TPG puts on it, and not from its intrinsic qualities, I would not feel confident in its investment potential.

And I am not impressed with the argument about people being so rich what's a million for a Rose rookie. The hobby has always had its share of wealthy collectors, but historically prices have never been anywhere close to some of these levels.

__________________
Four phrases I have coined that sum up today's hobby:
No consequences.
Stuff trumps all.
The flip is the commoodity.
Animal Farm grading.

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