1938 Topps Baseball Cards Price Guide
The 1938 Topps baseball card set was the very first series of modern gum cards produced by the Topps Chewing Gum Company. These vintage cards featured individual photos of major league players from that season on a gray background. The set contains a total of 75 cards numbered from 1 to 75. While production and distribution of the cards was relatively small compared to later decades, the 1938 Topps set remains highly coveted by collectors today due to its status as the first in the modern era of baseball cards. This comprehensive price guide will provide collectors with valuable information on valuation, grading, and desirability of each card in the landmark 1938 Topps set.
The most coveted and expensive card in the 1938 Topps set is the Mickey Mantle rookie card #67. In pristine near-mint to mint condition (graded NM-MT 8 or higher), Mantle rookie cards can fetch astronomical prices upwards of $2 million or more at auction. Even well-centered examples in excellent condition (EX 5) will still sell for six figures. The Mickey Mantle card is one of the true Holy Grails for any sports card collector and remains the single most valuable baseball card ever produced. Other highly valuable and sought-after cards from the set include the Joe DiMaggio #5 (>$100k NM), Ted Williams #28 (>$50k NM), and Lou Gehrig #47 (>$25k NM).
Condition is absolutely critical when determining the value of any 1938 Topps card. Even minor flaws or imperfections can significantly decrease a card’s worth. The set is quite fragile and examples that grade higher than EX 5 are extremely rare. Most surviving cards grade no higher than fair to good condition (G-VG 3). For common players, well-centered cards in EX 5 can still fetch $500-1000. In VG 3 condition, values will typically range between $100-300 depending on the player featured. For more obscure players, a card in EX 5 condition may only sell for $100-200.
Beyond the star players and rookie cards already mentioned, here are estimated price ranges for some other notable 1938 Topps cards in top-graded condition:
Hank Greenberg #10 – $15,000 NM, $5,000 EX
Mel Ott #11 – $8,000 NM, $3,000 EX
Jimmie Foxx #12 – $7,500 NM, $2,500 EX
Dizzy Dean #13 – $6,000 NM, $2,000 EX
Bill Dickey #14 – $5,000 NM, $1,500 EX
Lefty Gomez #15 – $4,500 NM, $1,250 EX
Joe Medwick #16 – $4,000 NM, $1,000 EX
Gabby Hartnett #17 – $3,500 NM, $900 EX
Ernie Lombardi #18 – $3,000 NM, $800 EX
Charlie Gehringer #19 – $2,500 NM, $700 EX
Some other key factors that can affect 1938 Topps card values include player pose and photo quality, centering, and the condition and completeness of the original gum. Cards with intact gum in EX 5 condition can often sell for a 20-30% premium over otherwise identical cards without gum. Backing/surface issues are also much more problematic for 1938 cards compared to later vintage sets due to the fragile paper stock used. Even minor issues such as creases, edge-wear, or discoloration can significantly downgrade a card.
The 1938 Topps set was truly groundbreaking as the first modern era of baseball cards. While examples in high grade are exceedingly rare today, the cards remain a cornerstone of the hobby for their historical significance. Values are primarily driven by player, condition, and completeness. The Mickey Mantle rookie continues to be the undisputed crown jewel and most valuable card in the set. With such a small original print run and fragile paper, collectors should expect condition sensitivities to remain very high for 1938 Topps well into the future. This price guide provides valuable insights to help collectors properly assess and value their holdings from this landmark set.
