Two studies were used to examine the collecting behaviour of preschool children. Prior studies of collecting have defined the behaviour as exhibited by older children and adults. To understand childhood collecting, existing theoretical perspectives were discussed in terms of how they might apply to children's behaviour as collectors. Results showed that some preschool children are motivated to engage in collecting and possess the developmental capacities required for successful collecting. Individual differences in executive functioning (Study 1, N= 57) and theory of mind (Study 2, N= 46) explained why some preschoolers were more oriented towards collecting than others. Study 2 showed that the motivational pull of collectible toys can be very strong, with some children agreeing to pay the ‘cost’ of sharing with a confederate child in order to obtain a collectible toy. This research highlights similarities and differences between adult and child collecting. Suggestions are provided for parents and for policy considerations regarding the appropriateness of marketing collectible toys to preschoolers.