/Collectors hope to convert Beanie Babies to cash

Collectors hope to convert Beanie Babies to cash

Remember our cuddly friends from the 1990s? There is probably a massive plastic box of Beanie Babies in many of our attics. There was a good reason for saving them, because they could one day be worth hundreds of dollars. That day might be coming up soon.

Ty Warner introduced Beanie Babies at the Gatlinburg Gift Show in 1993, as reported by the LA Times. The “Original Nine” (Brownie the bear, Chocolate the moose, Flash the dolphin, Legs the frog, Patti the platypus, Pinchers the lobster, Splash the whale, Spot the dog and Squealer the pig) were introduced. The craze didn’t catch on until Warner decided to retire a few two years later. Retiring some of the “Original Nine” caused a frenzy and collectors scrounged for the rare babies.

As the years moved on more Beanie Babies were created. The more popular characters were Derby the horse, Nana the monkey, Peanut the elephant and Princess the bear who was made after Princess Diana’s death.

In 1999, Warner announced there would be a new release of the furry foes and the Beanie Baby 2.0 was born, as stated on Tycollector.com. The last beanie produced was a black bear with a yellow bow tie called The End bear.

Fourteen years have passed since the original Beanie Babies were all retired and there is a possibility we have already lost our chance to cash in. However there are a few who will still draw in the big bucks.

The Princess Diana bear has been sold on eBay for as much as half a million dollars, although this price is posted by the seller. Some other Beanie Babies have been sold for as much as five thousand dollars.

Collectors have realized they may be sitting on a hefty chunk of change and are quickly making the money while they can. However, since Beanie Babies have disappeared on shelves, the creator has found himself in trouble with the IRS. Warner appeared in court January 2014 and plead guilty to charges of tax evasion.

There could be Beanie Babies in your attic that are worth some money. Several of us are high fiving our 6-year-old selves for not tearing off the tags and keeping them safe all these years. It is only fitting to cash in now since some of us just paid for groceries in change. Many parents told us to save for the future, but I don’t think this was what they had in mind.

+ posts