The 1909 T206 baseball card set is one of the most iconic and valuable sets in the history of sports card collecting. Issued by the American Tobacco Company as promotional inserts in packs of cigarettes and other tobacco products between 1909-1911, the T206 set featured images of baseball players from that era. Within the set there is one card that stands out as among the most valuable in the world – the iconic Honus Wagner. There are also several other notable and expensive cards collectors seek out from the 1909 T206 series.

The PSA population report shows there are only around 50 known examples of the legendary Wagner card in existence, making it one of the most coveted pieces of sports memorabilia. In pristine Gem Mint 10 condition, the Wagner has sold at auction for over $3 million multiple times in recent years. Even well-worn low-grade copies in PSA 1 or 2 condition can fetch six figures. While no other single card from the set approaches the Wagner’s record-setting prices, there are certain high-profile players whose rare examples have achieved impressive auction prices as well.

Christy Mathewson is considered the second “big four” star of the 1909-11 T206 set after Wagner. Widely regarded as one of the greatest pitchers in baseball history, Mathewson cards ranked just behind Wagner for many years in terms of value. A PSA 8 copy of the Mathewson recently sold for over $480,000 at auction. Like Wagner, the population of high-grade Mathewsons remaining is extremely low with only a handful known PSA 9s and just one true Gem Mint 10 graded by the top third-party authentication company. Prices quickly drop off for Mathewsons below a PSA 7, but even very low-grade examples still trade for five figures.

The “Big Ed” Walsh card has emerged as the third most valuable issue from the landmark T206 set in the past decade. Ed Walsh was a star pitcher who won 20 games six times and led the American League in wins twice during his career. His scarcity, especially in top condition, has vaulted him into the upper echelon alongside Wagner and Mathewson. A PSA 8 Walsh sold for over $360,000 in early 2022, showing his market has grown tremendously. Like the other top stars, finding a Walsh with centering and quality higher than a PSA 7 is extremely difficult. Even worn lower-grade copies still demand prices starting at $50,000 due to his legendary playing career and limited surviving population.

The “Shoeless” Joe Jackson card has always held iconic status as one of the most recognizable images from the early 20th century. Issues surrounding the infamous “Black Sox” scandal that ended his career caused values to lag for many years. More recently, as memories have faded of the fixing charges and focus has returned to his incredible talent and record-setting stats, Jackson’s T206 prices have surged. A PSA 8.5 copy sold for over $250,000 in mid-2021. Like the other top stars, PSA 9s of Jackson are unobtainable and there is only one example known in the elusive PSA 10 condition, currently residing in the famed Barry Halper Collection. Even low-grade Jacksons in PSA 3 or 4 condition can sell for $10,000-$20,000.

While the “big four” of Wagner, Mathewson, Walsh, and Jackson dominate discussions of the most valuable T206 cards, there are several other notable high-dollar players collectors seek out. A PSA 8 Ty Cobb recently sold for over $200,000. Like Jackson, perceptions of Cobb have softened since his playing days ended and interest in his on-field exploits has driven values higher in recent times. Other seven-figure players include Walter Johnson, whose iconic windup pose has made him hugely popular. Even stars whose careers came after the T206 era like Babe Ruth and Lou Gehrig, who are found with tobacco coupons intact, can reach six figures in top grades.

In addition to star players, there is strong demand for rare sub-variants and error cards within the mammoth T206 set. Printer’s proofs without player names but featuring the same images as the regular issued cards can sell for over $100,000 in top condition. The ultra-rare “Gold Border” Wagner proof that was featured on the cover of the 2009 PSA Population Report sold for an astonishing $2.8 million. Error variations like the “reverse-print” Eddie Plank card or “inverted-back” cards have achieved over $50,000 in auction. Complete sets are also highly sought after, with one of the approximately 10-12 surviving PSA-graded examples bringing over $2.7 million in a 2017 sale.

The 1909-11 T206 set established the modern sports card collecting hobby and featured some of the most iconic images of baseball’s early stars. Led by the record-setting Honus Wagner, key high-grade examples of other top players like Mathewson, Walsh, Jackson, Cobb, and Johnson can reach six or even seven figures. With strict limits on the populations remaining and tremendous interest among vintage card collectors, prices will likely continue rising long-term for all the most significant rare T206 cards. The set stands as one of the most valuable in the world over 100 years since its original release.