If You Invested $500 in Baseball Cards 30 Years Ago, Would It Outperform the S&P 500?
Written by
John Csiszar
Edited by
Cory Dudak
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Collecting baseball cards is more of a hobby than a business for most Americans. But in some cases, investing in baseball cards can actually provide a handsome return, even outpacing the S&P 500. The trick, of course, is buying the right cards at the right time.
Most baseball cards are essentially worthless, providing little-to-no return and holding value only for those who collect them for the sake of enjoyment. Of course, a properly chosen investment of $500 made 30 years ago could have resulted in a seven-digit nest egg today.
Here’s an overview of how cards in general have performed relative to the S&P 500 over the past three decades, with a closer look at the superstars of the bunch.
S&P 500 vs. Baseball Card Market
If you started investing in the S&P 500 stock index over the past 30 years, you may very well be a millionaire today. Over the past three decades, ending May 2025, the most-watched American stock index posted an average annual return of 10.313%. That means $500 invested 30 years ago would be worth roughly $9,501, or an incredible 19x your original investment.
Baseball cards are a bit trickier to price on a comparison basis. For the most part, generic baseball cards are essentially worthless, perhaps valued at their original selling price. This is especially true of cards in the ’80s and ’90s, which were mass-produced with poor quality and garnered the nickname the “junk wax era.” It’s fair to say that anyone holding a random collection of cards from 1995 on — even with a few superstars in the mix — would have underperformed the S&P 500 significantly from a financial perspective. However, there are always a few diamonds in the rough.
Highlighted Cards From the Past 30 Years
While the vast majority of baseball cards haven’t produced significant investment returns, there are a few standouts. Here are some of the best performers, according to DisplayZoneShop.com:
- 1999 Topps Traded CC Sabathia Autographed Rookie Card: Estimated value — $10,000
- 1997 Bowman Chrome Refractor Roy Halladay Card: Estimated value — $20,000
- Alex Rodriguez 1994 Upper Deck Foil Rookie Card: Sold for $40,950 in 2021
- 1996 Select Certified Mirror Gold Derek Jeter #100: Estimated value — $200,000
Considering the average pack of baseball cards cost between $0.50 and $0.99 in 1995, it’s fair to say that these cards have had an exceptional return. Even the “lowly” Sabathia card, valued at $10,000, represents a return of roughly 50% annually, trouncing the return of the S&P 500. The $200,000 Derek Jeter card represents a return closer to 66% annually.
The Bottom Line
Although it’s hard to make an apples-to-apples comparison, it’s clear that the baseball card market is much more of a boom-or-bust universe than the S&P 500. While some rare, high-quality cards can fetch eye-catching returns, the average card doesn’t represent much of a long-term investment.
However, just because few baseball cards provide investment opportunities, that doesn’t mean the market isn’t booming. On the contrary, interest in sports collectibles — including baseball cards — has never been higher.
According to Market Decipher, the global sports memorabilia market was valued at roughly $32.4 billion in 2023, but is expected to reach $271.2 billion by 2034 — providing a 22.1% compound annual growth rate. While this demand won’t help the value of the everyday baseball card very much, it does mean that rare cards in great condition could see their values continue to soar.
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