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#3
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I would just find a card you like. I wouldn't think of a card at the $500 level as a great investment opportunity. But popular HOFers from popular sets seem to do the best over time. Maybe something like a t206 Matty, Johnson, or young would be a good pre war card for 500 bucks that could appreciate and would be cool to own.
If $500 is more than you'd normally spend on a card and this is some kind of bonus money you're getting I'm more a fan of getting one big card than several small ones. You can buy smaller value cards any time.
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