Price of rare coins getting too high? Why not pool resources with others and share the cost of owning an 1804 Dollar or other seven-figure piece? Dealers
have done this for years, of course, going in together on deals to buy whole collections or individual top-drawer pieces. But there hasn't been a way for
the average joe collector to get in on the action. This New York Post article describes a platform that's allowing collectors in other fields do
just that. Are coins next? -Editor
Most fans could only dream of owning a Honus Wagner baseball card, which is the most valuable in the world.
But beginning next month, they’ll be able to buy a share of one of the roughly 50 known Wagner cards that are still in circulation, and which is worth
roughly $3 million.
The price of entry: $100.
New York trading platform Rally Rd., which began selling shares of collectible cars two years ago, is now expanding into sports memorabilia, watches and
Chief Executive Christopher Bruno told The Post his company recently learned that an owner of one of the 50 or so remaining 1910-era Wagner cards was
looking for some liquidity, and negotiated a deal.
Rally Rd. will be selling a minority stake in the Wagner for about $500,000.
Beginning in August, subscribers to the Rally Rd. app can start buying as many as 4,000 to 5,000 shares in the card, with each share representing about
.00004 percent of the card, Bruno said.
There is no other competitor that sells shares in rare collectibles other than art, he added.
There are plans to sell shares in a first edition of “Harry Potter and the Philosopher’s Stone,” one of about 200 of the books in existence.
“We have largely a millennial audience,” Bruno said, noting that the app’s users are age 27 on average.
masterworks.io is a platform for investing in fractional shares of artworks. Of course, investment vehicles for
rare coins are nothing new and while they can be successful there are many examples that have ended badly for investors. So I can already hear the snark
machine asking, "What could possibly go wrong?" -Editor
To read the complete article, see:
App to let fans buy minority shares of $3M
Honus Wagner baseball card (https://nypost.com/2019/07/10/app-to-let-fans-can-buy-minority-shares-of-3m-honus-wagner-baseball-card/)
Wayne Homren, Editor
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