Vintage baseball cards have long been considered a solid investment, with some of the rarest examples selling for millions of dollars. As the hobby has boomed in popularity, so too have the values of the most coveted cards from the late 19th and early 20th centuries. For savvy collectors and investors looking to grow their wealth through vintage card speculation, here are some of the top cards to target.

1909 T206 Honus Wagner: The hobby’s most iconic and elusive card, only 50-200 examples of the ultra-rare Wagner are known to exist. In pristine condition, it can sell for well over $1 million. Even low-grade examples in Poor 1 condition have sold for $200,000+. The Wagner is the defining card of the set and captures the interest of both vintage card collectors and casual fans. Its rarity and starring one of the early game’s biggest stars ensures strong future appreciation.

1933 Goudey Babe Ruth: Similar to the Wagner in terms of universal recognition and rarity, the 1933 Goudey Ruth #153 is one of the true Grail cards of the hobby. Fewer than 10 are known in high grades like NM-MT 8, with prices topping $5 million for the finest specimens. Even well-circulated low-grade examples still sell for six figures due to Ruth’s stature and the set’s limited surviving population. This is truly a can’t-miss investment for the long haul that is only expected to rise with time.

1919 Edd Roush: While not in the same celebrity stratosphere as Wagner and Ruth, the 1919 Edd Roush is nonetheless one of the key cards for vintage set collectors due to its rarity. Only about 50 are believed extant in total across all graded populations. Priced under $200,000 today, nicely-centered high-grade PCGS/PSA 9 examples have tremendous long-term appreciation potential as condition census cards of arguably the rarest pre-war set. Even a single-digit graded example makes for a solid long-term speculative play.

1909-11 T206 subset cards: While they don’t have the iconic cachet of the Wagner, cards like the 1909 Eddie Plank and Rube Waddell remain solid blue-chip investments graded roughly PSA 5 and above. Plank and Waddell have sold in the $100,000s recently and should continue their bullish trajectories long-term as high-quality survivors of their respective population reports. Other short-print T206 stars like Joe Jackson, Shorty Joyner, Sherry Magee, and Grover Cleveland Alexander show similar appreciation trends.

1913 Baltimore Terrapins Benny Kauff: A true condition rarity from one of the rarest and most desired vintage sets, the Benny Kauff is iconic in its own right. Kauff went on to have a notable major league career but became best known for his involvement in the Black Sox Scandal. Roughly a dozen are known across all grades with a PSA 8 recently selling for over $450,000. This remains one of the most undervalued modern era pre-war keys and a true six-figure card at high grades with serious long term upside.

1948 Bowman Mickey Mantle: While post-war, Mantle’s iconic rookie card retains tremendous collectors interest and has seen explosive growth. High-grades still fetch six-figures but attrition and demand ensure noticeable appreciation for the next decade plus. Given the nostalgia and stature of the Mick, conditions cards are a sound long term investment. Similar post-war picks are the 1952 Topps Willie Mays, but Mantle remains the true standard.

1898 Tiffany WJ Slayback: This exotic cigarette card featuring the obscure Slayback is one of the most visually stunning and conditionally challenging collectibles from the 1890s. Only a handful is known across all grades with higher grade examples routinely bringing mid six-figure sums. The complexity of attributing the Tiffany issues coupled with extreme condition rarity fuels their status as one of the holy grails for this early period. Strong appreciation is guaranteed for properly graded high-end specimens.

1887/1888 N172 Old Judge Caleb Bacon/Pace & Handy: These unusual advertising issues hold tremendous mystique as two of the earliest known tobacco cards. A quality N172 Pace & Handy recently topped $500,000 at auction. scarcer single digit graded examples of either subject that hold century-old eye appeal are true condition rarities that will likely appreciate well into the seven figures range over the next decade as the vintage market expands globally. Rarer/higher graded 1888/89 Allen & Ginter specimens like Ed Delahanty likewise show amazing promise for the astute advanced collector.

This covers some of the true blue-chip cards that have demonstrated predictable, long-term growth over the past two decades and should continue to do so for the foreseeable future. With care, grading expertise, and patience, astute vintage card investors can build incredible speculative collections with massive financial upside by targeting the true condition rarities represented here across the spectrum of pre-war American baseball issues. While individual card volatility exists in the short-term, a diversified collection focused on these recognizedicons will ensure strong overall portfolio appreciation with history as our guide. For those wanting safe harbor in a tangible and historically significant asset class, collectible vintage baseball cards have much to offer the informed investor.