And when the Beanie bubble ultimately burst, their stacks of floppy, understuffed toys were rendered virtually worthless.Īmid such hysteria, an underground economy began to flourish-and with it, a wave of criminality. Some families sank their entire life savings into acquiring the rarest examples, hoping to fund retirements and put kids through college. Like tulip mania before it, and cryptocurrency after, Beanies became a popular alternative asset, with some examples of the $5 toy-in mint condition, with its original hanging tag-selling for thousands of dollars apiece.ĭivorced couples fought over their Beanie Baby assets, and children were trampled by stampeding collectors. By mid-decade, investment mania reached such dizzying heights that an active collectors’ “gray market” developed. Beanie Babies were one of the 1990s biggest fads: colorful, pellet-filled plush toys given cutesy names and an aura of collectibility.
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