As Stocks Go Down, Cards Go Up [J. Mark English]

The stock market had a bit of a correction today. If you took a hit in the market, but you also have money tied up in a baseball card collection then you may have something to smile about. Check out this story about the latest auction of a Honus Wagner card:

The "Holy Grail of baseball cards,'' the famous 1909 Honus Wagner tobacco card once owned by hockey great Wayne Gretzky, has sold for a record-setting $2.35 million, the seller of the card said Monday.

The buyer has only been identified as a Southern California collector. SCP Auctions Inc., a company that holds sports memorabilia auctions, said it bought a small share of the card. It is scheduled to be shown at a news conference at Dodger Stadium on Tuesday.

There are about 60 of the tobacco cards in existence featuring the Pittsburgh Pirates shortstop, one of the first five players to be inducted in Baseball's Hall of Fame.

The seller, Brian Seigel, in 2000 paid a then-record $1,265,000 for the prize card, which is in much better shape than the others.

"This particular one was preserved in spectacular condition,'' said Joe Orlando, president of Professional Sports Authenticator of Newport Beach - the company that certified the authenticity of the card. "It's the Holy Grail of baseball cards.''

In other baseball card news, people seem to be really into the 2007 Topps Derek Jeter card. On ebay its listed for as high as $286.00! Why is it so high. Because of the odd background it contains...

This is the description for someone on eBay: You are bidding on a HOT 2007 Topps card #40 of Yankees star Derek Jeter. Card shows Jeter at bat with Former Yankees star Mickey Mantle in the dugout and current president George Bush waving from the stands. Card is in mint condition and is a red back variation card. It has a low starting bid price of $.99. Shipping on this card is $2.50.