A new generation of collectors are embracing US sports cards – with some fetching prices in the millions

The top sport for trading cards, by a long stretch, is baseball, followed by basketball, American football, soccer and hockey.

At the high end, the prices are staggering.

To date, the highest price paid for a sports trading card at auction was in August 2022 when a 1952 Topps Mickey Mantle card with a 9.5 grade from SGC sold at Heritage Auctions, Texas, for $12.6m (€11.4m).

It was considered the “finest known example” of its kind, with a cracking backstory. The card was one of a cache found in an attic and purchased by the famous American sports collectibles dealer Alan Rosen (1943-2013). The cache became known as the “Rosen find”.

Sports trading cards date back to the 1860s and have been prized by collectors since the mid 20th century.

Early cards were included as inserts in cigarette packets or sold with gum. Since then, an industry has built up around them.

Sports trading cards have always appealed to young collectors. Some grow up to make serious money and continue to spend it on their hobby.

In June, a report from Bank of America surveyed rich people’s investment habits. According to the study, 94pc of Gen Z and millennials are keen to invest in collectibles, including sports trading cards and sneakers.

Just 80pc of Gen X and 57pc of Boomers were interested in collectibles.

The survey also reflected a shift in attitude. Among younger investors, 39pc considered the “sentimental value” of an investment to be of significance, while only 6pc of older investors said the same.

In the same month, Sotheby’s announced a partnership with Fanatics, a global digital sports platform. Their intention is to sell sports trading cards valued at $100,000 and over.

The partnership’s inaugural Holy Grails auction takes place on September 24, in a deconsecrated church in Harlem parish, New York.

The sale is designed to lure wealthy Gen Z collectors from the shadows and welcome them into the fold of a traditional auction house.

In the Sotheby’s auction, the expected top lot is a 2005-06 Upper Deck Exquisite Collection Dual Logoman Autographs #DLA-JE Michael Jordan and Julius Erving — BGS 8.5/Autograph 10 | 1 of 1 (est. $1m).

It’s a one-of-a-kind card, and one of only two cards to feature both these players. The next highest estimate is for a baseball card: a 1955 Topps #164 Roberto Clemente PSA 9 | Rookie Card (est. $800,000 to $1m).

The sale also includes a 1997-98 Metal Universe Tim Duncan Precious Metal Gems Emerald /10 BGS 8 (est. $200,000 to $300,000); a 2005-06 Upper Deck Exquisite Collection Autograph Patch LeBron James BGS 8.5/10 (est. $350,000); and a 1948 Leaf Jackie Robinson PSA 8.

All of this needs a bit of decoding. Acronyms BGS and PSA are grading services. A “PSA 9” grade indicates a card in superb condition.

A “rookie card” is a player’s first card at the top level of their sport. An “autograph” card is signed by the player. The signature is graded separately. For the newcomer, there’s a lot to learn.

In Ireland, sports trading cards collecting is growing rapidly. Last year, Conor Veihey set up The Sports Hobby Shop to cater for collectors who can’t find what they want in Ireland.

“In America, you can buy boxes of cards in Walmart. We don’t have that. They’re hard to get hold of and the shipping and customs are a nightmare.”

In Europe, the hobby took off during the pandemic. “We’re a sports-mad nation,” he says. “It doesn’t take much!”

In Ireland, as in most of Europe, soccer trading cards are by far the most popular. Most of the cards that Veihey sells are accessibly priced and many of his customers are children.

“For the kids, it’s not about the money. They collect their favourite player and their favourite team. But adults see the value in the money. When I go to trading fairs, I’d have a box of cards for €1 but most of them sell for between €10 and €50. I’d have some that are worth up to €500 and a few that are worth thousands.”

Veihey’s customers are also interested in collecting basketball, WWE and UFC cards. “American sports are a big part of it,” he says. “They were the original trading cards. When I did my first fair, I brought along four boxes of baseball cards. I didn’t think it was worth my while having them. It was definitely worth my while.”

​The Sports Hobby Shop sells online and at card trading fairs. See thesportshobbyshop.ie and sothebys.com