The 1938 Diamond Stars baseball card set is one of the most coveted issues among vintage baseball card collectors. Produced by Diamond Stars Gum Company, the set features players from the American and National Leagues in colorful photographic cards. With its iconic stars of the late 1930s and rarity, the 1938 Diamond Stars set holds significant value today.

The 1938 Diamond Stars set contains a total of 96 cards featuring players across the two major leagues at the time. Some of the biggest names included are Lou Gehrig, Joe DiMaggio, Dizzy Dean, and Hank Greenberg. The photography is of high quality for the era, with each player headshot displayed against a colorful team banner backdrop. On the reverse, each card lists the player’s position, batting average, and other stats from the 1937 season.

Condition is extremely important when assessing the value of these 80+ year old cards. They were meant to be given out as incentives to purchase gum, so many were thoroughly played with and handled over the decades. The scarcity of high grade specimens drives prices up significantly. In top Near Mint to Mint condition, common players may sell for $100-200 while true stars can reach thousands.

One of the most iconic cards in the set is Lou Gehrig’s (#61 NYY). As one of the game’s greatest sluggers and most popular players at the time, his card carries extra allure. In PSA 8 condition, a 1938 Lou Gehrig Diamond Stars card recently sold for $15,000. The same card in PSA 6 condition went for $4,000, showing how condition impacts value. Other star cards that command big money include Joe DiMaggio (#38 NYY), Dizzy Dean (#28 STL), and Hank Greenberg (#25 DET).

Rookies and lesser known players from 1938 can still hold value depending on the player and grade. For example, a PSA 8 of Dolph Camilli’s (#59 Bkn) rookie card sold for $3,500. Camilli went on to have a solid career and his rookie is quite rare in top condition. Another 1938 rookie of note is Bobo Newsom’s (#93 Bkn) card. High graded examples of Newsom’s debut issue have sold in the $1,000-2,000 range.

Completing a full 96 card 1938 Diamond Stars set in high grade would be a monumental achievement, as it’s estimated less than 10% of the original print run still exist in collectible condition today. A few years ago, a PSA-graded set achieved a record-breaking auction price of over $250,000. For most collectors, acquiring complete common runs or individual stars in grades of EX-MT is the realistic goal.

Regional differences and store promotions also impacted print numbers for certain players. Cards of Brooklyn Dodgers players like Newsom and Camilli are scarcer than their New York Giants or Yankees counterparts. Finding high grade Dodgers from 1938 often requires deeper pockets. Condition census data from grading services helps provide a sense of comparative rarity between players and guides pricing expectations.

While the 1938 Diamond Stars set may seem out of reach price-wise for most collectors just starting out, there are still affordable options. Lesser stars or commons in EX-VG grades can often be found in the $50-100 range. These make for decent “player collectors” options to build a partial set over time. The iconic design and legendary players also give 1938 Diamond Stars cards strong potential to appreciate further if taken care of properly long term.

For dedicated vintage baseball card investors or advanced collectors, a 1938 Diamond Stars high grade collection represents a true blue chip holding. The combination of iconic stars, superb photography and design, and rarity has cemented this issue’s status as one of the most valuable from the pre-war era. Condition is critical, and pricing is determined by supply and demand for each individual card. But for those willing to pay top dollar, the 1938 Diamond Stars set offers a classic piece of sports card history.