New Book Examines $2.5 Million Baseball Card

Rich Mueller

The most famous baseball card of all has earned plenty of attention over the 22 years since it entered the sports memorabilia hobby. Not until now has it been the centerpiece of a book released through a major publisher.

Harper Collins released "The Card" this week, the product of several years of investigative work by New York Daily News writers Michael O'Keeffe and Teri Thompson.

The story won't likely produce much new information for long time vintage card collectors who are already privy to it, but for those unfamiliar with the card's history and other issues in the sports memorabilia realm, it may be an eye-opener.

It is believed the Wagner card was found as part of an uncut sheet at a Florida flea market during the early to mid-1980s. Several hobbyists with knowledge of the origin of the card claim it was cut from that sheet but contained tell-tale characteristics that later disappeared several years later when the card was encapsulated by Professional Sports Authenticators, a grading and authentication company. It was authenticated and given the unprecendented near mint-mint professional grade of 8 on a 1-10 scale.

The grade has helped push the card into the multi million dollar stratosphere. Unfortunately, none of those involved in the history of the card willingly admits to trimming it--either from the uncut sheet or later when the card was presented for grading. O'Keeffe and Thompson use several sources for their story but others involved in the issues presented refused to cooperate. Some say since cutting cards from uncut sheets was a common practice among hobbyists years ago, the Wagner card has earned the right to its lofty perch as the "Mona Lisa of baseball cards".

"The Card" traces the path of the Wagner from a small card shop in Hicksville, New York where it was purchased for $25,000 in 1985 by long-time collector Bill Mastro who later sold it to another collector for $110,000 and later built a memorabilia auction empire that is considered the largest in the sports hobby. From there, the card followed a path that included ownership by two wealthy businessmen, a Wal-Mart contest winner and a partnership between hockey great Wayne Gretzky and his former LA Kings boss Bruce McNall. It is now in the hands of an unnamed buyer in southern California.

O'Keeffe and Thompson examine what they term an "unregulated and often cutthroat industry" where some say restoration techniques, mostly undisclosed, may have led to the rise in high grade vintage cards selling for tens of thousands of dollars through auction companies and private sales.

In addition to offering a background on history of baseball cards and the T206 set, the book also delves into the life of Wagner himself as well as the men who have owned the card and some of the larger finds of T206 cards. Hockey Hall of Famer Gretzky and McNall brought much attention to the card when they purchased it in the 1990s.

"The Card" also touches on the fight to bring more disclosure to the world of high-priced cards and memorabilia but leaves the reader wishing that juicy topic alone were addressed in a separate book.

The card's entry into the sports memorabilia hobby is described in an excerpt that can be found at…