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Toys are generally designed for entertainment, imagination and play time for children. Although certain toys can be used for Hobbies by both children and adults. Many toys inspire fantasy, adventure and imagination for young children. Some toys can be interactive and complex or very simple. While complex toys can break, simple toys can last a very long time and last a lifetime. These often become antiques and vintage collectible toys that are worth much sentimental value and even monetary value for the right collector.

There are a few major classifications for toys. One of the more popular are the ones that move. These include wind-up toys, or also described as clockwork toys. These can wound up similar to old clocks that needed winding up. The toys could then move around, or perhaps walk, crawl and roll on the ground or on the floor all by itself. Pull toys are a kind of toy that needs to be powered up by the person using it, typically like discast cars or Hot Wheels. Friction toys are those that are moved when something in the toy such as a spring, is loaded back and released. battery operated toys are typically more complex and require a power cell that needs to be re-charged or replaced when they run out of power.

Some of the first toys were doll-like toys. These are stationary toys that do not move unless the user is moving them around manually. Dolls and Teddy Bears were some of the earliest and most primitive toys. Modern ones include plastic or metal figurines and action figures such as G.I. Joe, Barbie Dolls, My Little Ponies, Trolls, Ninja Turtles, Star Wars and more. Some of the rarest antique toys and figurines are made out of tin. These were usually made in the early to mid 1900s, but can be much older. Many of these high quality ones were made in Europe, Japan and the United States, although people have been making counterfeits of these toys for a long time.

Another one of the most popular toys are Building toys, such as LEGOs, Puzzles, Erector Sets and Lincoln Logs. Many of these are produced in the marketplace by big brand names like Fisher-Price, Playskool, Playmobil and others. For older kids, models and kits are a big deal. Not only do kids desire them, but just as many adults are interested in building models as a hobby and also collecting high quality collectible antique toys to go with them. Some of the most popular are train sets and model trains, model rockets, automobiles, ships, airplanes, slot cars and just about anything else.

Educational and imagination toys are also a popular variation made for kids to learn and use their imaginations. Marx and Leapfrog are examples of those that make playsets and problem solving toys. For very young kids, these educational toys can seriously build out their intelligence and help them learn new things (like spelling games or math games for example). Another kind of toy requires skill and dexterity, such as the Yo-Yo or Rubik Cubes. These tend to take a long time and experience to master.

Games and toys can also blend together. A few hot examples of these are marbles, Pogs and trading card games. Typically, children are first interested in using the items solely for gameplay. As time goes on, they begin building a bigger and better set of these items. Eventually, many begin collecting an impressive collection of them as a hobby. For instance, marbles can be very valuable depending on how rare or unusual some of the glass orbs are. Pogs are a game that became popular in the 1990s, which consisted of many cardboard discs and "slammers". Magic The Gathering is one of the most popular trading card and strategy games in which you bring your set to a game and each card has it's own ability and advantage to help beat your opponent. Oftentimes with these types of toys, you are "trading" items with other players. Sometimes during the game itself, these items can be up at stake or "betted" and the winner can claim ownership of these.