My family has a long history of collecting.

My brothers and I accumulated baseball cards as kids, our mother has a massive stock of Precious Moments figurines, and our maternal grandfather gifted his grandchildren toy trucks every Christmas. My daughter even continues this tradition today with Pokémon cards.

Apparently, we’re the rule, not the exception. A 2022 survey commissioned by MagnifyMoney found that over 60 percent of Americans consider themselves collectors and only 32 percent of them do it with dreams of getting rich. (That said, the global market is around $500 billion today and is expected to be over $750 billion by the end of 2033, per Market Decipher and KD Market Insights, respectively).

So why do so many people spend valuable time and energy hunting down memorabilia? You may be surprised to find that there’s a plethora of perks to be gained by it, many of which can help improve everyday life.

Mental

AccomplishmentFrom an early age, we learn that earning an A in school or a scouting badge provides a sense of pride in a job well done. Collecting offers such satisfaction in spades—there really is nothing like completing a set.

EscapismSimply put, this activity is fun. Some people continue it because of nostalgic reasons—they did it as a kid and maybe with a parent—while others pick it up because they’re intrigued by the subject matter and the pastime allows them to take a deeper dive into it.

PersistenceAs any enthusiast will attest to, a never-give-up attitude is usually necessary, whether you’re trying to attain an entire coin set one by one, compiling a doll collection, or seeking out a one-of-a-kind sports card.

SerenityPerhaps unsurprisingly, there’s a level of peace you can experience whenever you block out the world and lose yourself in your collection. Much like with painting, playing music, and other hobbies, hours can drift away when you’re doing something you love.

Practical

Attention to detail Depending on how serious you are, you’ll need to sweat the little things as you hunt down your treasure. Examples include finding the P, D, or S mint mark on a coin, which reveals its minting origin, and being cognizant of the slightest crease in a rare baseball card.

Decision-making Simply put, you have to take responsibility for your potential haul from prepurchase (e.g., Is it worth the marketed price?) to postpurchase (e.g., How will you store it after buying it?).

Expertise The above two benefits cannot happen without knowing your subject, making the art of collecting an opportunity to bask in the love of learning—while also uncovering fascinating tidbits about your finds.

Social

Belonging Hobbies are an easy, natural way to connect with others about a shared interest the general public may not understand. For example, multiple people struck up conversations about my daughter’s stuffed companion, Wooper from Pokémon, when we vacationed far from home.

Expression Sharing your compilation is sharing something about you, whether your Christmas ornaments reflect your travels or your choice of vinyl records from the seventies reveals which music you love.

Collectibles are often associated with profits, but the activity itself goes well beyond the potential financial boon. So the next time you open a pack of trading cards, admire the figurines in your hutch, or sit back and flip through your stamp collection, do so knowing just how much it adds to your joy and overall well-being.