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Thank you to those who responded to last week’s poll (and apologies for having to send the newsletter twice). Based on your responses, I decided to limit the amount of information on the Auction Highlights.

In other news, I have family plans coming up, so much like PSA, I’ll pause the newsletter, but mine will only last for two weeks. It’ll be back on June 29.

In this issue you'll find:

  • Auction highlights

  • News in the hobby

  • Lee Roy Selmon’s rookie card and player profile

  • How does PSA pop count relate to pricing for 1970s baseball HOF rookies?

  • ICYMI

Let’s get into it.

Where to Invest $100,000 Right Now, According to Experts

Investors face a dilemma. When the S&P 500 finished its worst quarter since 2022 last month, diversifiers like bonds and bitcoin fell too.

Even with the turnaround in mid-April, analysts at Goldman Sachs and Vanguard have projected low-single-digit annualized returns from 2024-2034.

Bloomberg asked where experts would personally invest $100,000 for their March monthly edition.

One answer that surfaced for a second time? Art.

It's what billionaires like Bezos and the Rockefellers have privately used to diversify for decades.

Why?

  1. Appreciation. The ArtPrice100 Index outpaced the S&P 500 overall from 2000 to 2025

  2. Low-correlation. The postwar contemporary segment has moved independently of traditional investments like stocks since ‘95.*

  3. Resilience. A scarce, physical, and global asset class with decades of demonstrated demand.

Thanks to the world's premier art investing platform, now anyone can invest in works featuring legends like Banksy, Basquiat, and Picasso, without needing millions.

Shares in new offerings can sell quickly but...

*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.

Auction Highlights

In order of closing date:

Elite Collectibles (ending on June 9)

Clean Sweep Auctions (ending on June 10)

Collector Investor Auctions (ending on June 14)

Fanatics Weekly Auction (ending on June 14)

Other active auctions:

Vintage HOF Rookie Card: Lee Roy Selmon

The Tampa Bay Buccaneers were not a good football team for most of Lee Roy Selmon’s career (their won-los record was 44-88-1, or a .335 winning percentage ), but he stuck with them and made the Hall of Fame, a true testament to his dominant play.

Lee Roy Selmon - DE/DT

HOF Induction in 1995

  • 6-time Pro Bowler in nine total seasons

  • AP Defensive Player of the Year in 1979

  • 4-time All Pro (one first-team, three second-team selections)

  • 10 or more sacks in four different seasons

  • Career AV (Approximate Value) - 92

1977 Topps #29

Grade

PSA Pop Count

SGC Pop Count

BVG Pop Count

10

17

1

0

9

151

8

2

8

369

19

8

7

209

22

5

The average price came out to be $33.95.

Hobby Thoughts: Pop Count vs. Pricing for 1970s Baseball HOF Rookie Cards

Pop (or population) count for graded cards is, presumably, all about scarcity. As grades get higher, population counts should get lower, especially when it comes to vintage cards, since the condition either tends to degrade over time or the cards weren’t treated well in the first place, not being viewed as valuable assets 50-plus years ago.

One caveat to the pop count assumption is that not all players (and thus their rookie cards) are created equal. For example, someone like Bruce Sutter’s rookie card is not given the same weight in the hobby as someone like Mike Schmidt’s rookie card, even though both are members of the exact same Baseball Hall of Fame. This is where popularity can throw a wrench into the scarcity discussion, since it’s likely that fewer Bruce Sutter rookie cards are being graded because fewer collectors want to grade them, not because there are fewer of the cards themselves.

Another caveat is the year of the rookie card. Bert Blyleven and Ted Simmons’ rookie cards, for instance, are much more condition-sensitive than the average card, due both to being the oldest of the 1970s HOF rookie cards and, more importantly, due to the black borders of the 1971 Topps set that more easily reveal chipping and other condition issues. Another example is Ozzie Smith’s rookie card, which is known for a lack of centering, so much so that a lot of his graded cards will get qualifiers like OC (“off-center”) or MC (“miscut”).

And a third caveat is, of course, eye appeal. We’ve all seen PSA 7s that look like they should be PSA 8s or better, and vice versa. And each collector has their own idea of what’s most important to them (centering, color, corners, edges, surface, etc.) for the card(s) they want.

The above caveats are just three of the reasons why it’s difficult to do an apples-to-apples comparison. Of course, that doesn’t mean I won’t try an analysis just the same, to see if it reveals anything interesting.

Analyzing the Disparity

Last September, I compared a few rookie cards to see if the pricing difference between PSA 10s and 9s made sense relative to the pop count difference, taking into consideration how hard it is to tell the difference between a 9 and a 10. Of course, since most collectors don’t have the budget to be playing in the PSA 9 and 10 pools when it comes to vintage cards, I thought I’d look at a more affordable range.

That’s why I looked at collector grade (for this decade, that being a PSA 7) and PSA 8, to see if there were cards where it might make more sense to buy a PSA 8 (if you’re looking for more bang for your buck), because, say, while the pop count is a lot smaller, the price difference between the two grades might not be that big, relatively speaking.

Using the current Card Ladder values for both the PSA 7 and PSA 8 rookie cards for the 18 HOF rookie cards in the 1970s, I determined both the price differential (the PSA 8 price divided by the PSA 7 price) and the pop count differential (the PSA 7 pop count divided by the PSA 8 pop count, on the assumption pop counts get smaller as grades increase). Then, I determined the disparity (the price difference divided by the pop count difference), to see where potential value might exist.

What Does This Mean?

The smaller the disparity, presumably, the better the value. That’s because the price difference isn’t as large moving from a PSA 7 to a PSA 8 as the pop count difference is, meaning you’re not paying as much of a difference to get a higher grade that’s relatively scarcer.

As an example, the Carlton Fisk rookie card is currently listed with a value of $103.01 for a PSA 7 and $256 for a PSA 8, or a difference of almost 2.5X. Meanwhile, the PSA 7 pop count is 1,833, while the PSA 8 pop count is 330, a difference of more than 5.5X. So, quite a bit scarcer as you go up one grade, but you’re not paying as much, relatively speaking, for that scarcity.

On the other end of the spectrum, Andre Dawsons’s PSA 7 rookie card is listed with a value of $44 and the PSA 8 at $149.95 (a difference of 3.4X), while the pop count is 1,368 for the PSA 7 and, unexpectedly, 2,343 for a PSA 8, a difference of only 0.58X. So, pop count is more plentiful as you go up one grade, but the relative amount you’re paying seems to imply that the PSA 8 is more scarce than it actually is.

Admittedly, in pure dollars, you’re paying a bigger difference to upgrade the Fisk, but with the hope that scarcity will continue to drive demand.

What did you think of the results?

ICYMI

Subscribe for future issues, share with those you think would enjoy the newsletter, and please also check out and subscribe to the YouTube channel I co-host, Vintage Card Voyage.

Thanks for reading.

Marc

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