Baseball cards featuring legendary players from the early days of the sport can be extremely valuable collectors items. The value of these vintage cards is determined by several factors, most notably the player featured, the condition of the card, and its scarcity. Some of the most coveted and expensive baseball cards showcase iconic players from the late 19th and early 20th centuries.

One of the most famous and valuable baseball cards is the 1909-1911 T206 Honus Wagner card. Honus Wagner was a superstar shortstop for the Pittsburgh Pirates around the turn of the 20th century and is considered one of the best players of all time. The rarity of the T206 Wagner card drives its immense value. It’s estimated only 50-200 of these cards were ever produced, making it one of the most scarce collectibles in the world. In near-mint condition, a T206 Wagner routinely sells for over $1 million, with one mint condition example setting the record at $6.6 million in 2016. The card’s value is boosted by the fact Wagner demanded his card be pulled from production, adding to its mystique and rarity.

Another highly valuable early 20th century card is the 1914 Baltimore News Babe Ruth rookie card. Babe Ruth revolutionized the game by establishing new home run records with the Boston Red Sox and New York Yankees during his career from 1914 to 1935. His prolific home run power made him one of baseball’s first superstars. The 1914 Baltimore News card captured Ruth at the beginning of his playing days and before he switched from pitcher to outfielder full time. High grade examples in near-mint or gem mint condition have sold at auction for over $5 million, with one PSA NM-MT 8 grade card setting the record at $5.2 million in 2016.

Cards featuring legendary players from the Deadball Era before 1920 can also command huge sums. One such example is the 1909 T206 Ty Cobb card. Ty Cobb was arguably the best player of the early 20th century, smashing batting records and winning 12 batting titles during his career spent mostly with the Detroit Tigers from 1905 to 1928. He was renowned for his ferocious style of play and remains baseball’s all-time leader in career batting average at .366. High grade Cobb cards from the iconic T206 set in near-mint or better condition have sold for over $1 million.

Another Deadball Era star with a valuable early card is the 1911 Imperial Tobacco Honus Wagner card. Like the more famous T206 Wagner issue, this card also captured the legendary Pirates’ shortstop during the prime of his career between 1900-1917. The 1911 Imperial Tobacco Wagner is considered much more scarce, with likely fewer than 10 copies known to exist today. One example that sold in 2016 achieved $2.1 million, setting a new record for any non-sports card. Its extreme rarity and association with one of the first true baseball superstars drives its immense collector value.

Moving into the 1920s, cards featuring Babe Ruth in his Yankees playing days can also hold significant value depending on condition and scarcity. One such example is the 1920 W516 Babe Ruth card issued during the first season of his legendary career in pinstripes with the Bronx Bombers. High grade copies have been known to sell for over $500,000 at auction. Another highly valuable Ruth issue is the 1933 Goudey #53 card, which captured the Bambino at the tail end of his career just before his retirement after the 1935 season. Near-mint to mint condition Goudey Ruth rookies in this issue have sold for over $250,000.

The roaring 1920s also saw the emergence of Hall of Fame pitcher Walter Johnson, known as the “Big Train” during his dominant career spent mostly with the Washington Senators from 1907 to 1927. Johnson holds the all-time record for career strikeouts with 3,509 and won the 1910 AL MVP award. His iconic 1910 American Caramel card is one of the key issues when collecting cards from the Deadball Era before 1920. High grades of this elusive Johnson card in near-mint or better condition have topped $100,000 at auction.

Moving into the 1930s and 1940s, cards of Yankee greats Joe DiMaggio and Ted Williams start appearing that can also hold substantial value depending on condition and scarcity. One such example is the 1936 Goudey #77 Joe DiMaggio rookie, capturing “Joltin’ Joe” at the start of his legendary 13-year career entirely spent with the Yankees from 1936 to 1951. Near-mint to mint copies of this key DiMaggio rookie have sold for over $150,000. Another prized 1930s/40s card is the 1938 Play Ball Ted Williams, featuring the “Splendid Splinter” Williams at the start of his 21 year career spent with the Boston Red Sox from 1939 to 1960. PSA/BGS Gem Mint 10 graded examples of this Williams rookie have topped $100,000 at auction.

As you can see, vintage cards featuring baseball’s earliest legends from the Deadball Era through the 1940s can be enormously valuable, especially in high grades. Condition is absolutely paramount, with near-mint to mint copies bringing the highest prices. Scarcity also plays a major role, as the most coveted cards tend to be those with the lowest surviving populations, like the ultra-rare T206 Honus Wagner and 1911 Imperial Honus Wagner issues. While mint condition examples of these early star cards may fetch millions, there is a large collector market for high grade copies in the $50,000-$500,000 range as well. With proper care and grading, early 20th century baseball cards can serve as astute long term investments reminiscent of the game’s greatest pioneering players.