Topic: Legacy's future - ruminate
Some of you may have read this post http://blog.mtgprice.com/2014/03/19/lea c-62371133 or be familiar with the subreddit: http://www.reddit.com/r/mtgfinance/comm ng_to_die/ for those not, it is a good read. Do keep in mind that what he is talking about most likely won't occur for years to come.
Will Legacy die? No. It will become what Vintage is.
I have played Magic since 1993/4 when I was just becoming a teenager. I have seen shifts in MTG. Legacy used to be the same as Vintage in terms of the banned/restricted list. Then it become a separate entity. I have seen formats die (Extended) even after years of popularity and special rules to keep up its appeal like keeping in duals when they should have rotated out. Rochester Draft (created where i lived and played) and popular on pro Tour's has also faded to the annals of memory. Excuses can be made as to why Legacy will never die and I accept that as your belief. My belief, and has been for quite some time, is that with the arrival that Modern has had Legacy will fade away much like Saturday Morning Cartoons. My Saturday Morning Cartoons are not the same as those 10 years younger than I nor those 10 years younger then them.
Perhaps Legacy's best days are coming to an end and it will be what Vintage is 10 years from now. There are other factors that cause me to believe that it will be far quicker than 10 years though. The amount of people that have memories pre-mirrodin bloc, thus their collections, are far superior to those with 'Modern' memories. Magic's popularity took a major hit with Urza and Mirrodin, people flocking away and not coming back. With Ravnica's release did Magic become wildly popular once again as it has seen its popularity continue to rise for the last 4 or so years.
The advent of the internet has boosted MTG significantly. We all know about StarCityGames.com and their massive tournaments. 10 years ago the landscape was vastly different. The internet had finally reached the majority of people in 2000. The first generation of college students knowing what the internet was (en masse) had just graduated (hopefully) by 2004. Net-decking had become a mainstay after years of derision. E-bay, trollandtoad, abugames were the most well known on-line magic retailers. Card prices just began their popular ascent in prices. It was almost 10 years ago that I played in my biggest tournament, 169 people, pales to today's massive tournaments. Card prices were still in check, Moxes at $100, duals at $30-50, 'staples' rarely exceeding $15, new cards could be traded for 'old' cards with greater ease since there wasn't a deep price fluxuation. Everything at the time was still grass-roots. Legacy was always part of the grass-roots where the game, the players were all small and regionalized. Today the game, the players are far bigger, far superior. Fewer and fewer people have ties to Legacy cards. They have ties to Modern though and their sheer weight and size will push Legacy into the realm of Vintage.
Food for thought. My advice is to keep the cards you enjoy playing with and use in decks. If you're looking for getting value out of your old cards, take some time to find a good buyer who will pay cash. The Legacy cards will be around for a few years so don't panic, unload them patiently. Collecting Modern 'staples' isn't a bad idea either. If you go after foils do know that foils are harder to get rid of as there are fewer buyers/traders for high priced foils.