One of the most valuable baseball cards is the 1909-11 T206 Honus Wagner card, which is considered the “Mona Lisa” of baseball cards. Only around 60 authentic Honus Wagner T206 cards are known to exist today in private collections. Just a few years ago, one in pristine gem mint condition sold at auction for $3.12 million, which was a record at the time.

What makes the Honus Wagner so rare and valuable is that the American Tobacco Company, which produced the hugely popular T206 series from 1909-11, decided late in the process to pull Wagner’s card from production at his request. Wagner, a staunch anti-tobacco guy, did not want his likeness associated with cigarettes. Only a small number had been printed before they were recalled, making the surviving populuation of authentic Wagner cards incredibly small.

Another T206 card that can sell for over $1 million is the 1909 Edward William “Eddie” Plank card. Plank was a star pitcher for Connie Mack’s Philadelphia A’s dynasty in the early 1900s. His T206 in gem mint condition recently sold at auction for $1.2 million, demonstrating the huge amount of money vintage cards in pristine condition can demand from wealthy collectors.

In the post-WWII era, high-grade rookie cards of all-time legends can also crack the $1 million threshold. One of the most expensive post-war rookie cards ever sold was a 1952 Topps Mickey Mantle in near-mint to mint condition. In late 2016, an 8.5-graded Mantle fetched $2.88 million at auction, shattering records. Mantle’s legendary career and status as a sports icon is a big reason why his top-condition rookie card can sell for amounts normally associated with fine art.

Another post-war rookie card to break $1 million is the 1957 Topps Frank Thomas rookie in mint condition. In late 2018, a 9-graded “Big Hurt” card was sold privately for $1.47 million. Stats-wise, Thomas may not have the career resume of Mantle, but his ’57 Topps rookie has long been one of the most sought-after and valuable cards from the post-war period due to its scarcity in top-grade.

Vintage rookie cards for other all-time sluggers like Hank Aaron, Willie Mays, Ted Williams and Babe Ruth can also sell for $1 million or higher if preserved in pristine mint condition from when they were originally packaged. Another category of cards in such condition that consistently crack eight-figures are the rare pre-war tobacco era stars like Honus Wagner, Cy Young, Ty Cobb, Nap Lajoie and Walter Johnson.

Condition, of course, is always absolutely critical when it comes to worth for vintage cards. Even otherwise historically significant and valuable cards can be worth mere hundreds if worn, faded, creased or damaged. Collectors pay millions for vintage cardboard precisely because so few survive in gem mint state after over a century of being owned, traded and potentially subject to the elements.

In recent years, we’ve also seen some modern-era sports cards join the million-dollar ranks. In 2007, a rare 1994 SP Authentic Ken Griffey Jr. was sold for $100,100, marking the first modern card to cross six figures. Then in 2016, a rare unopened case of 2012 Bowman Chrome Draft Superfractor cards featuring top prospects like Mike Trout, Manny Machado and Bryce Harper sold as a complete set for $1.02 million.

Any mint-condition vintage T206 Honus Wagner or T206 star rookies along with gem-graded iconic 50s/60s rookie cards of Mantle, Mays, Aaron and Williams are routinely million-dollar cards today. Beyond condition, the ultra-rarified air of all-time legendary careers seems to be a hallmark of those pieces of cardboard collectibles that can sell for record sums. While the sports memorabilia market boomed during the 1990s and 2000s, vintage inventory remains finite and scarce – which is why the best of the best can still demand fortunes among elite collectors.