Finding Undervalued Credit Pieces

Stories of finding credit pieces for a few dollars that are worth $50.00 or more apiece are becoming commonplace. So which dealers should a credit card collector approach to find some of these under-priced specimens?

How to find undervalued credit cards for your collecting hobby

Generally speaking, there are places to go and places not to waste your time unless you want to pay close to current market prices. Here’s the breakdown of the latest best odds bets for finding inexpensive pieces…

Antiques and collectibles dealers, flea markets, junk stores & estate sales

This is probably your best bet. 

George Bayer of Palm Beach Gardens, Florida sums up the opportunity: “I had no idea people were willing to pay much money for choice collection pieces. It has prompted me to start brainstorming on how to find some treasures of my own here in south Florida.

“This area appears to be a prime candidate for all sorts of valuable old cards because it appeals to retired folks from all over the country.

“My initial test of antique stores via telephone yielded zero. Most of these never thought of credit cards as collectibles.”

It’s common for these dealers to not have the slightest idea about what is taking place in this hobby. Even the few dealers who do know are basing their asking prices on out-dated antiques and collectibles pricing guides. But when you do find dealers in this area that have credit pieces, prices are usually low. 

Coin dealers

Coin dealers are exactly that—coin dealers. Most of them aren’t concerned with what’s happening in the credit piece market. Generally, their attention is focused on items with price spreads. In other words, what’s the bid and what’s the ask?

Since credit pieces don’t come with bid-ask price spreads, they are generally out of the sphere of the coin dealer. It’s probably best not to take time looking for credit pieces in this area. Dealers probably won’t know what you’re talking about, and if they do, they’re highly unlikely to have anything.

Token dealers

These are the dealers to probably stay away from if you want to find something for nothing. Token dealers appear to be a fairly close knit group in which news spreads fast. Credit pieces fall under the numismatic definition of tokens since they represent money. Because of this, many token dealers are up on the hobby’s latest news. They’re the most aware group of dealers.

Locating credit cards and credit pieces

Probably the best method for locating credit cards and credit pieces is to hand out a collecting business card. Leave a card with each dealer that even remotely may come in contact with credit pieces.

Your collecting business cards should be straightforward and simple. It’s unnecessary to use different color inks or lots of wording. Black ink on a standard-sized white card will probably work just fine.

The card should clearly state your wants. Example: “GAS AND OIL COMPANY CREDIT CARDS WANTED” or “CREDIT CARD COLLECTOR”. The card should include your full mailing address, along with your cell number and email. Make sure all the type on the card is large enough to be easily read.

Buying credit cards

When you find something you’re interested in purchasing, control yourself. Jumping up and down and shouting with excitement isn’t going to do anything but raise the item’s price. It may cause the dealer to decide the piece isn’t for sale. It’s very important to stay calm.

Determine what the value of the item is to you. Any item you locate will probably already be priced low enough that negotiating won’t be necessary. If you do want to get the price down further, try this: A dealer says an item is priced at $10. After you examine the piece, simply ask, “Will you take $8?”

If you’re fortunate enough to find more than one piece, go for a quantity discount. Example: A dealer has a card priced for $10 and one for $6. You want both of them. Simply ask, “How much do you want for the pair?”

Most dealers realize people want a discount from the asking price. Because of this, most prices are already raised in anticipation of having to drop them. Don’t be afraid to ask for a discount.

Improve on any of these ideas as you see fit. It’s important to understand that you don’t need to be an experienced, credit card collecting genius to find undervalued credit pieces. Just following a basic common-sense approach is all that’s necessary for success. The key ingredients that must be used in this hobby are patience and persistence. Good luck!

Copyright 1989 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society