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Your Money: New York Subway Cards a Ticket to Profit?Aired July 3, 2000 - 1:16 p.m. ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LOU WATERS, CNN ANCHOR: Sometimes a good investment opportunity, while we're on the subject, may pop up where you least expect it.
CNN's Bill Tucker now reports that New York subway cards can be a ticket to profit.
BILL TUCKER, CNN CORRESPONDENT (voice-over): To most New Yorkers, the Metropolitan Transit Authority subway cards are just a convenient way of getting around town. But collectors were quick to spot the potential when the cards were introduced in 1993.
GREG LOIBL, METRO CARD COLLECTOR: They have the beautiful imagery of stamps. They have monetary value like coin collecting. And they have trading value like baseball cards.
TUCKER: The most sought-after card was sponsored by the "New York Times." It can fetch around $1,000. Another popular card was given away free by VH1 as a promotional gimmick. It now changes hands for up to $300, if you can find it.
UNIDENTIFIED MALE: Only the collectors had one each, and they wouldn't sell the one they had. So I didn't think I would ever get it.
TUCKER: Greg Loibl organizes collector fares, as well as trading cards on his Web site.
LOIBL: There's worldwide interest. I've actually traded cards with somebody in Brazil.
TUCKER: Auctioneers say there can be a profit in stashing away everyday items that commemorate a special date. Souvenirs of the millennium are popular keepsakes, along with memorabilia associated with celebrities, such as the late John F. Kennedy Jr. But it is never a sure bet. Collectibles are only worth what somebody else is willing to pay. Greg Loibl doesn't know how much he spent on his collection, but he estimates that it's now worth $15,000; not that he's thinking of selling. He expects interest in the cards and the value of his collection to flourish in the next few years.
That's "Your Money," Bill Tucker, CNN Financial News, New York.
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