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1.
A horrible waste of money, better spent on buying a house, car, or investing.
Even though, the poor soul lived in a crappy-assed area, he continued to buy collectibles instead of considering his future.
by Betty December 13, 2002
 
2.
A term meaning "good" or "amazing". It can also be as a way to show acceptance, or likeing.
Also meaning the opposite of the term "Overweight, or "Obeease".
Ex.1: Those people giving out free stuff are collectible.

Ex.2: Dude, Those naked chicks are Collectible!

Ex.3: That was a bit Overly Collectible!
by Fat Rob June 21, 2006