The era of baseball cards that are often considered the most valuable are those from the late 1800s and early 1900s, also known as the Tobacco Era. Cards produced from 1888 to 1916, when tobacco companies like baseball cards as premiums and incentives to sell their products, contain some of the most iconic and valuable cards in the hobby due to their rarity and historical significance.

These early Tobacco cards were produced mainly by companies like Allen & Ginter, Mayo Cut Plug, Sweet Caporal, and American Tobacco Company. Their production methods at the time and lack of widespread collecting interest meant that the vast majority of these cards have not survived to today in pristine condition. Only an extremely small number of early Tobacco era cards exist in a grade of Mint or Near Mint, which has significantly driven up their worth over the years due to their scarcity and desirability among serious collectors.

Some of the individual cards from this era that routinely command prices in the millions are the vintage T206 Honus Wagner, which has sold for over $6 million in the past. Other legendary pre-WWI cards like the 1909-11 T206 Cards of Eddie Plank, Joe Jackson, and Walter Johnson in top grades can each sell for $500,000+ at auction due to their rarity and significance. Even more common players for the time like Mordecai “Three Finger” Brown can sell for over $100,000 in Mint condition due to the limited surviving population of high grade early 20th century cards.

Another factor driving the value of these early era cards is the iconic images and players they capture. Cards like the 1909-11 T206 Honus Wagner and Mickey Welch were among the first baseball cards ever produced and capture these star players of the early professional baseball era who were major celebrities and trailblazers for the growing sport at the time. Holding an intact piece of the earliest days of baseball fandom and collecting over 100 years later is incredibly historic and desirable for advanced collectors.

While the centennial anniversary and low print runs of early 1910s-era tobacco issues like the E90-94 series also produced by American Tobacco and other similar sets mean individual key vintage cards can command huge sums, the broader 1910s era remains quite valuable across the board due to the continued rarity of high grade survivors from that time. 1910s tobacco issues tend to reign as the greatest valued complete sets in the hobby as well when found in pristine condition, with some complete N172 and E121 sets selling for over $500,000 in recent years.

Moving past the Golden Age of the tobacco era, the 1930s and ’40s remained a noteworthy period before the post-war boom, but production scaled up tremendously by the late 1940s as the hobby began to blossom. Goudey and Play Ball from 1933-38 are considered crown jewel issues of this timeframe that still routinely produce six-figure cards in top condition. Stars like Babe Ruth, Lou Gehrig, and Joe DiMaggio are forever iconic on their early 1930s Goudey cards that were among the first modern gum/candy cards instead of tobacco premiums.

While condition is obviously still king and rarity by player increases value exponentially through the decades, the overall populations of high grade baseball cards increases tremendously moving past WWII into the 1950s onward as the hobby went truly mainstream. Mint 1955 Topps cards can sell for thousands a piece today due to exciting rookies like Sandy Koufax and Willie Mays moving into their prime. Complete 1955 Topps sets in pristine condition as well have cracked six figures relatively recently.

The 1960s saw legendary rookie cards produced like the sought-after 1968 Topps Nolan Ryan and Tom Seaver that are consistently six-figure cards in Mint condition today. The late 1960s also ushered in the arrival of the NBA as a modern league that produced some of the earliest highly valuable basketball cards to parallel baseball. But moving into the 1970s, production increased exponentially alongside the burgeoning collecting boom involving millions.

While complete 1970s sets and especially individual superstar rookie cards like 1975 Reggie Jackson or Mike Schmidt can still command healthy sums today depending on condition compared to supply, condition becomes much more paramount to drive rarified value as populations of these late 20th century issues grew enormously versus the scarce early pioneer tobacco period before 1920. Graded Gem Mint specimens from the entire pre-war and post-war vintage periods through the 1970s remain truly blue-chip trophies for advanced collectors today befitting the enormous prices they continue to achieve, but as a broad overview, the late 1800s/early 1900s tobacco era produced the most legendary rarities that are routinely considered the costliest individual items in the entire sports collecting realm.