A new study shows that more than half of American high net worth individuals (HNWIs) are investing in their hobbies, with art, coins and jewellery the most popular.
According to BMO Private Bank, 38% of the US' richest investors store wealth in coins, while 36% invest in art, and 31% in jewellery.
A further 28% have stamps or antiques as part of their portfolio, while 24% buy classic cars and sports memorabilia.
"We're finding that an increasing number of our clients are engaging in some form of hobby investing," said Jack Ablin, chief investment officer at BMO Private Bank.
"People who choose to invest in their hobbies often do so because it allows them to feel a sense of engagement without having to spend a lot of time on them. Many hobby investors are keen to create a legacy to pass on to their heirs - one that is unique to them and reflects their interests."
Many of those surveyed (54%) invest in collectibles because it is more interesting to them than investing in stock or shares, with 39% saying they are sound investments that will grow in value.
There is also the "wow-factor" of collectibles, with 38% stating they like to show off their investments to others - decidedly more impressive that a stock certificate. 40% meanwhile, are looking for a unique item to pass down to their heirs.
The growing acceptance of collectibles as investments follows years of uncertainty in the stock markets, with new investors looking to alternatives as a way to diversify and profit.
See Paul Fraser Collectibles' comprehensive guide on investing in collectibles to get on board today.