Inside Report (5)

Collectors may want to trim their antiinflation hedges for the Reagan years. Coins, stamps, art, and antiques may not fetch the rate of return they showed during the last 20 years. Alan Reynolds, a vice-president-economist at the First National Bank of Chicago believes Reagan's presidency could mean "a fundamental shift" in inflation patterns of the past two decades -- a shift that could cut into the lofty returns collectibles have enjoyed.

Reynolds also believes Republican gains in Congress will mean changes in tax laws making collectibles less attractive and stocks more so.m