Introduction
This article provides an in-depth price guide for baseball cards from the years 1919 through 1923, with a focus on the iconic T206 White Border set from 1909-11. Commonly referred to as the “W552” set within the hobby, the T206 set featured future Hall of Famers like Ty Cobb, Walter Johnson, and Christy Mathewson. These vintage cards remain highly collectible and valuable over a century after their original release. Understanding the rarity, condition, and demand for different players within the set can help collectors properly value and price individual cards.
The Early Years of Baseball Cards (1876-1909)
The earliest baseball cards date back to the late 1870s but did not become widely produced and collected until the late 1880s through the early 1900s. Brands like Allen & Ginter, Old Judge, and Leaf released some of the first major baseball card sets during this time period. Production and availability of these early sets was limited. The most notable and valuable pre-1909 issues include the 1887-90 Goodwin Champions set, featuring future Hall of Famers like Cap Anson and Pud Galvin. High grade examples of stars from this era can reach five figures or more.
The T206 Era (1909-11)
The landmark T206 set completely changed the baseball card hobby. Produced between 1909-11 by the American Tobacco Company, the cards featured photographs of players on a white border background. Over 500 different players are included across the three series, ranging from superstars to obscure minor leaguers. The massive production and distribution led to the T206 set being one of the most collected in history. Even in low grades, common players can still hold value due to their historical significance. The biggest stars have reached astronomical prices. A PSA/SGC Gem Mint 10 example of the ultra-rare 1909-11 Honus Wagner recently sold for over $6.6 million, setting a new record. Other consistent seven-figure cards include rare variations and the highest graded examples of stars like Mathewson, Johnson, Cobb, and Nap Lajoie.
Post-T206 Era (1912-23)
In the years immediately following the T206 release, card production declined significantly. The most notable issues include the 1912 and 1914 Bobby Wallace “Diamond Stars” cards produced by Sweet Caporal Cigarettes. High-end examples of stars like Joe Jackson can reach $20,000+. Conditions were scarce and demand was still relatively low at this point. Things changed dramatically with the release of the iconic 1914 Cracker Jack set, which helped spark renewed interest in collecting. This led tobacco companies to resume large-scale baseball card production.
The 1919-23 “Deadball Era”
During this period, several tobacco brands released sets that remain highly collectible today. Production levels were much higher compared to the previous decade, though still lower than the golden era T206s. The most significant issues include:
1919-20 M101-5 Green Backs (American Caramel): This early 20th century caramel/candy brand featured true “green backs.” High-grade examples of Babe Ruth have topped $100,000.
1920 W516 Old Mill (Sweet Caporal): Features stars like Ty Cobb and Eddie Collins. Keys include rare variations and high grades of top players.
1920 W515 M101-7 Gold Borders (American Caramel): Similar design to the Green Backs but with gold borders. Ruth cards also highly valuable here.
1922 W514 White Border (Sweet Caporal): Features many of the same players as W516. High grades of superstars can reach $5,000-10,000+.
1922-23 W523 Diamond Stars (Sweet Caporal): The final significant tobacco era release before the modern Goudey/Play Ball era. High grades of top players remain quite valuable.
The Holy Grail: W552 White Border (M101-3)
Released between 1919-23 by American Caramel, the M101-3 White Border set, more commonly referred to by the industry standard W552 catalog number, is considered the crown jewel of Deadball Era issues outside the ultra-rare T206s. Like the T206s, they featured true vintage photographs in white borders but with a smaller card size. The massive player selection included over 700 subjects, from all-time greats to complete unknowns. The W552 set holds tremendous significance as one of the final large tobacco card productions before the Goudey/Play Ball modern era began. Condition is everything for W552 value, and pristine gems are rarely seen. Some key premium examples include:
Babe Ruth (PSA/SGC 9): $15,000-25,000.
Ty Cobb (PSA/SGC 8): $10,000-15,000.
Walter Johnson (PSA/SGC 7): $7,500-10,000.
Christy Mathewson (PSA/SGC 8): $6,000-8,000.
Tris Speaker (PSA/SGC 8): $5,000-7,000.
Home Run Baker (PSA/SGC 8): $3,000-5,000.
Edd Roush (PSA/SGC 8): $2,000-3,000.
Heinie Groh (PSA/SGC 8): $1,500-2,500.
Eddie Ainsmith (PSA/SGC 8): $1,000-1,500.
Earl Sheely (PSA/SGC 8): $500-1,000.
Conclusion
The 1919-23 baseball card releases remain highly collectible options for vintage card enthusiasts, especially high grade W552 White Border gems. Understanding the scarcity and demand for different players is crucial when properly valuing individual cards from this Deadball Era. While they do not command T206 prices, the finest examples of stars from the period can still reach the thousands or low five-figures. With rarity and condition being so vital, using third-party grading is recommended when buying or selling premium W552 cards.
