The Card: Collectors, Con Men, and the True Story of History's Most Desired Baseball Card

by Michael O'Keeffe, Teri Thompson

Since its limited release just after the turn of the twentieth century, this American Tobacco cigarette card has beguiled and bedeviled collectors. First identified as valuable in the 1930s, when the whole notion of card collecting was still young, the T206 Wagner has remained the big score for collectors who have scoured card shows, flea markets, estate sales, and auctions for the portrait of baseball's greatest shortstop.

Only a few dozen T206 Wagners are known to still exist. Most, with their creases, stains, and dog-eared corners, look worn and tattered, like they've been around for almost a century. But one—The Card—appears to have defied the travails of time. Thanks to its sharp corners and its crisp portrait of Honus Wagner, The Card has become the most famous and desired baseball card in the world.

Over the decades, as The Card has changed hands, its value has skyrocketed. It was initially sold for $25,000 by a small card shop in a nondescript strip mall. Years later, hockey great Wayne Gretzky bought it at the venerable Sotheby's auction house for $451,000. Then, more recently, it sold for $1.27 million on eBay. Today worth over $2 million, it has transformed a sleepy hobby into a billion-dollar industry that is at times as lawless as the Wild West. The Card has made men wealthy, certainly, but it has also poisoned lifelong friendships and is fraught with controversy—from its uncertain origins and the persistent questions about its provenance to the possibility that it is not exactly as it seems.

Now for the first time, award-winning investigative reporters Michael O'Keeffe and Teri Thompson follow the trail of The Card from a Florida flea market to the hands of the world's most prominent collectors. They delve into a world of counterfeiters and con men and look at the people who profit from what used to be a kids' pastime, as they bring to light ongoing investigations into sports collectibles. O'Keeffe and Thompson also examine the life of the great Honus Wagner, a ballplayer whose accomplishments have been eclipsed by his trading card, and the strange and fascinating subculture of sports memorabilia and its astonishing decline.

Intriguing and eye-opening, The Card is a ground-breaking look at a uniquely American hobby.

Genres: Baseball, Sports, Nonfiction, History

256 pages, Hardcover

First published May 29, 2007

Reviews

[Mahlon · Rating 4 out of 5]

In The Card, Michael O'Keefe uses the history of the Gretzky T206 Honus Wagner(discovered in 1985, and sold most recently in 2007 for $2.8 Million) known as the most valuable baseball card in the world, as a jumping off point to discuss both Wagner's place in baseball history, and the often unseemly underside of the card collecting industry. The book centers around several questions concerning the card's provenance. It's weakness lies in the fact that the author is unable to answer these questions definitively since very few people involved with the history of the card agreed to be completely forthcoming when interviewed for the book. This leaves O'Keefe having to draw conclusions based on rumor and heresy. Despite these hurdles, he has managed to craft an engaging and readable, if slightly repetitive narrative. I'd recommend The Card to anyone who wants to learn more about Honus Wagner or card collecting, or any current or former card collectors looking for a bit of nostalgia.

3.5 Stars

[Taylor Silva · Rating 4 out of 5]

A great book that delves into the history of baseball and baseball card collecting.

Now my buyers remorse for purchasing $5 cards on Ebay pales in comparison to $2.8 million for one!

[Jeramey · Rating 4 out of 5]

I have long known the T206 Honus Wagner to be the most valuable card in the world (at least until recently), but the book does a great job expanding on why. At least as presented the card is clearly trimmed, perhaps multiple times over.

The book is worth it alone for the drama around the shady characters in “the hobby.”

The book could use an update in say 2025, as the hobby continues to evolve.

[Josh Hitch · Rating 4 out of 5]

Enjoyable read on what the collectible business became, and it's even worse now since this book came out 15 years or so ago. Also details the known history of the Gretzky Wagner and the shady business behind it. Plus some biographical details on Wagner himself.

Highly recommended for a nice overview of the history behind the high end collectible market and all the shady stuff that lies underneath.

[Colin Post · Rating 4 out of 5]

Documents the history of the most famous baseball card, the T206 Wagner. The strength of this book is also kind of its weakness - it weaves together many story threads (Wagner’s career, the history of baseball cards, the story of The Card, scandals in the card collecting industry), all interesting and well-told but sometimes straying from the main story. Still this is super fascinating. Above all, this is about how something gains value over time - the many obscure and tangential factors that make an otherwise disposable item a piece of history.

[Dan Heise · Rating 4 out of 5]

Great and fun book looking not just at one of the most valuable cards of all time, but on the baseball card industry as a whole. I like the message at the end that card collecting is what you make it, it doesn’t have to be your living. It can be your fun hobby.
I do wish there was an update for this book though, since we have learned A LOT since it came out

[Mary Anne · Rating 4 out of 5]

As I read this book, I felt so many emotions...but in the end, I will always be a fan of the game!

[Connor Kelly · Rating 5 out of 5]

A definite must-read for sport and memorabilia collectors!

[Matthew McElroy · Rating 3 out of 5]

I love hyper-specific books that unintentionally give us insight into human character. Sure, this is a book about how a piece of paper from 1910 became valued at over $2M. But it also is great insight into how value is created, manipulated and ultimately, questionable.
O'Keefe and Thompson do great work in researching and interviewing a network of man-children who have placed an unsettling amount of value on sports memorabilia. The entire hobby is worth questioning and even items that are certified by the people who owned them are often of questionable origin. And still people invest. There is a religious nature to it. "Regardless of what people tell me, and what makes sense, I will believe this. And the harder you push against me, the more I will believe."
Do not be dissuaded by the length of this book. More than 80 pages are easy to read appendices- the story is under 200 pages. It is well-written and concise. Anyone who grew up collecting cards will love this and it is an accessible read for many others.

[Kaite Stover · Rating 2 out of 5]

The authors trace the history and ownership of one of baseball’s most famous cards of a player long forgotten except for his face on a collectible. They also show the evolution of a harmless American hobby into a booming and conniving business that started with little boys and bubble gum and ended with Sotheby’s and Wall Street bankers. Writing is a little dry; none of the players are developed with any depth and there is very little suspense or solid conclusions regarding the card by the end of the book.

[Andy Littleton · Rating 4 out of 5]

As a guy who lived through the card collecting boom, and got into it headlong, I really enjoyed this book, though it spoiled some of the pleasant memories. About far more than the T206 Wagner, the book reminded me of my journey, and helped me understand the rise and fall of sports memorabilia.

[Vincent T. Ciaramella · Rating 5 out of 5]

This was one of those books I hated seeing end. I loved ever minute of this crazy tale about a baseball card printed a century ago. I loved how its become this icon of collectables and how its gone from something someone bought for just a few dollars to something worth $2.8 million today. Like the book said, it's a Ponzi Scheme and at some point someone is going to be stuck with a REALLY expensive piece of cardboard....lol.

This book gives the reader everything they need to know about one of the most expensive collectables out there on the market. The Honus Wagner T206 Gretzky Card, is the Mona Lisa of sports collectables. I have a reprint of it but I always am on the lookout for the read deal. Nobody knows for sure how many undiscovered are still out there but I hope there is one with my name on it!

Funny thing is I have a PSA graded T206 card of Frank E "Piano Mover" Smith which I paid a $35 for. Its from the same set as the Wagner card. Its 109 years old but not worth much. However, that one card can make you a millionaire over night.

Again, a fantastic book for anyone into sports, Pirate history, or collectables. I will read this again!

[Andrew · Rating 4 out of 5]

Read this short, but interesting book on a flight to Chicago. It tells the story of the T206 Honus Wagner baseball card - the most famous (and expensive) card. The author follows a cast of characters - some shady, some wacky, and some on a quest as the card passes from owner to owner. All the while the author exposes many of the dirty secrets of the high-end sports memorabilia business. He explains how sellers can doctor a card to get a better quality grade and the numerous conflicts of interest that exist between the card graders/authenticators and the wealthy individuals who buy and sell these products (usually at auction). Truly fascinating for anyone who has been a baseball card collector. Honus Wagner has been called the greatest shortstop in baseball history and this famous tobacco card only helps cement his memory in baseball lore.

[Sineala · Rating 3 out of 5]

I wanted to like this book more than I actually did, alas. While I am usually up for a good story of hobby drama, I feel like this was... a little less dramatic than I was hoping for, and when it ended my reaction was basically: that was it?

I probably would not have read this had I known that so much of it would be about the integrity of memorabilia grading companies, which is a thing I do not care all that much about; I collect comics and I basically actively avoid anything about the CGC. It just does not... interest me. So "what if things are getting graded unfairly?" is not the compelling hook the authors thought it was.

I did like hearing everyone who owned The Card talk about it, though.

[Lane · Rating 3 out of 5]

I liked the book as I have collected cards and love baseball. The book focuses on the T206 Wagner card that has set the price limit for cards. There is a nice history of Wagner and the card collecting industry but both could have more development. A lot of the people that are introduced are highlighted by their connection to the Card.
This book brought back my memories of the joy and thrill of collecting cards. I started a an 8 year old in 1953. I quit collecting in 1995 when the greed, price gouging, over production, and the baseball strike changed my mind. There ate days I wish I had kept collecting but the book reinforces that the hobby has only gotten worst,

[Jeffrey Bumiller · Rating 4 out of 5]

Whether you collected baseball cards as a kid (like me) or continue to collect baseball cards as an adult (not like me, but hey maybe I'll get back in to it) you'll enjoy this book. Yes, it's a shame that the hobby has been nearly suffocated by a bunch of greedy rich people scamming each other out of money, but O'Keefe & Thompson do a very good job of showing that there's still something magical about it, and about baseball in general. For example, according to this book at least, it seems like Honus Wagner was a pretty good guy. That made me smile.

[John Chidley-Hill · Rating 4 out of 5]

I can’t remember who gave me this book or how I got it, but I pulled it off my shelf in my quest to read all the books I own that I have never read before. Many will wind up donated, but not this one.

O’Keefe’s research into the provenance of the world’s most famous baseball card is exhaustive and his writing flows off the page.

I learned a great deal from this book (me! A sports reporter!) and I wish there was a more recent update.

Already recommended it to several friends who collect cards and I’m going to post about it on Reddit too. Definitely a keeper

[Christopher Shawn · Rating 4 out of 5]

Fantastic narritive non-fiction. Everyone has heard about the famous Honus Wagner T206 card that was once owned by Wayne Gretzky. But that's only a small part of "The Card"s twisting, turning history. It seems that almost nothing is as it seems when it comes down to where this one-of-a-kind specimen actually came from.

[Adam Cormier · Rating 5 out of 5]

This book chronicles the infamous T206 Honus Wagner card. The card is controversial and has a big impact on the card collecting industry (not limited to: auction houses, grading companies and a large national retailer). This is an excellent book the details the historical events surrounding the card and all the spinoff issues in the hobby.

[Mike Higgins · Rating 3 out of 5]

Having collected cards as kid, and being a big baseball fan, this one caught my eye at the library the other week. A fun read, that shines a light on an industry that has sprouted up around what was once a simple hobby.

[Kenneth Gura · Rating 4 out of 5]

An excellant account of the most desired collectors card in the trading and collecting industry. The author does an outstanding job of detailing the long and checkered history of the Honus Wagner trading card.

[Bailey Zubke · Rating 4 out of 5]

An extremely enjoyable and quick read on sports card collecting’s biggest icon. The off-topic tangents, mostly of semi relevant pieces of memorabilia or people loosely connected to the main story can distract from the main story, hence why I gave it 4 stars, but overall a great read.

[Dave Hutcheson · Rating 4 out of 5]

Well researched and written. Very enjoyable.

[Daniel Farabaugh · Rating 4 out of 5]

A nice quick read that goes into the history of the card and the issues of the collectibles market in good detail.

[John Elliott · Rating 3 out of 5]

A fascinating little book if you’re interested in the card hobby. But not so interesting or well-written that it transcends the card collecting subculture.

[Al · Rating 3 out of 5]

Interesting for anyone who has ever dabbled in card collecting.

[Daniel Suhajda · Rating 5 out of 5]

I can’t believe I had not heard of this previously. Filled with tales of card manipulation, it makes me glad I collect low grade and just for fun.

[Keith Scheessele · Rating 3 out of 5]

3.66

[Thomas Kelley · Rating 4 out of 5]

This covers the story of what is called the T206 Gretzkey Honus Wagner card which if you are in to collecting sports card you probably aware of. This story also discuss the collectible card industry in general. Anywhere their is a chance to make a large sum of money there will always be Con Artist, Crooks and Shysters and it appears it is the cases even in todays trading markets which is a dam shame. Overall this is a pretty good read even if you are not in to collecting sports cards.

[Brett T · Rating 4 out of 5]

For many years, the holy grail of baseball card collectors has been what they call the "Honus Wagner T206," a card showing a picture of Pittsburgh Pirates shortstop Honus Wagner.

Wagner, who played from 1897 to 1917, was one of the first five players inducted into the Baseball Hall of Fame. He tied for second place with Babe Ruth, behind Ty Cobb. Cobb himself -- not a man given to praising much of anybody or anything besides Ty Cobb -- and pitching legend Christy Mathewson lauded Wagner as one of the best players ever to take the field.

But he's best known as the face on The Card, that aforementioned Honus Wagner T206. Baseball cards today come in packs of their own and many folks may remember when they came with bubble gum, but at the turn of the century they showed up in all kinds of things, including cigarette packs. The American Tobacco Company (ATC) published its T206 series from 1909 to 1911, but Honus objected to being included in that series. According to The Card authors Michael O'keeffe and Teri Thompson, either Honus didn't want kids buying cigarettes in order to collect his baseball card or he wasn't big on ATC making money off his image without giving him a cut. The more things change...

Anyway, probably not more than 200 Wagner T206 cards were actually released. Most of them today look the way you'd expect 100-year-old pieces of cardboard that started life in a package of tobacco to look. Smudged, faded, creased, worn at the edges, etc. But The Card, known officially as the "Gretzky T206 Honus Wagner" and featured on the cover of the book, is still brightly-colored and crisp at the edges, which is why different people, including hockey great Wayne Gretzky, have ponied up several million dollars over the years acquiring it from one another. In September of 2007, an anonymous collector spent $2.8 million to buy it at auction.

Investigative journalists O'keeffe and Thompson detail how The Card appeared in the 1980s and brought with it the beginning of the high-dollar sports card craze. Most of the trappings of that business that are taken for granted -- quality grading firms, authenticators, eyebrow-raising claims of veracity -- stem from the original push to verify and "prove" that the Gretzky T206 was the real deal. While the authors seem to accept The Card was in fact printed in that ATC T206 run, they offer evidence of an origin that falls well into the realm of shady doings.

Folks who are really into sports memorabilia will have their own opinion about whether or not this three-and-three-quarters square-inch piece of cardboard is worth almost as much as a real baseball player. But The Card is a pretty interesting look at how this business began and some of the less-redeeming features of an enterprise that involves grown men spending millions of dollars on broken bats, scuffed balls, dirty uniforms, stinky shoes, sweaty hats and so on because they may have been used by or may have been signed by an athlete at some point.

Now if you'll excuse me, I'm heading off to the store to pick up my run of the newest collectible craze: Clergy Cards. The latest set has a pretty good Billy Graham (Position: Elder statesman; Preaches: Anywhere), T.D. Jakes (Position: Loosed!; Preaches: Amplification optional) and Jeremiah Wright (Position: Under the bus; Preaches: Let's not go there).

Original available here.