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....

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The Card

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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.

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Editorial Reviews

Sports Illustrated.com
“Lively and well-researched.”
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Product Details

  • ISBN-13: 9780061740008
  • Publisher: HarperCollins Publishers
  • Publication date: 10/13/2009
  • Format: eBook
  • Pages: 272
  • Sales rank: 362,348
  • File size: 2 MB

Meet the Author

Michael O'Keeffe is an award-winning journalist who is a member of the New York Daily News sports investigation team. He has been a reporter and editor for more than twenty years. A graduate of the University of Colorado, he lives in Brooklyn with his wife and son.

Teri Thompson is the editor of the Daily News sports investigative team and Sunday sports section, both of which have won numerous awards under her direction. One of the first women sportswriters in the country, she spent twelve years as an award-winning sportswriter and columnist for the Rocky Mountain News in Denver and worked for ESPN as a coordinating producer for SportsCenter. She is the recipient of the New York Times Fellowship for Journalists at the Columbia Law School and is a member of the Connecticut bar. She and her husband split their time between Connecticut and New York.

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Read an Excerpt

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

Chapter One

Expressway to Fortune

The tension was as thick as the steel-gray clouds that hung over the Long Island Expressway as the beat-up old green Honda sped along on a Sunday evening in 1985, past the car washes and the billboards hard by the highway and into Hicksville, a New York City suburb built on the edges of what were once the potato fields that stretched into the far reaches of Long Island.

Bill Mastro and Rob Lifson weren't talking much as they drove into town from the Willow Grove card convention near Philadelphia to the doors of the collectibles shop in a dingy strip mall. The shop was closed to the public that day: Only Mastro and Lifson would be allowed in for a look at the treasure inside, and Lifson himself would barely get a glimpse, relegated to the front of the store while Mastro made the deal in the back.

What they found in the store that day would profoundly change both men's lives, even as it transformed the sleepy hobby of baseball-card collecting into a billion-dollar industry and turned an obsessive vintage-card collector into its most powerful player. It would ruin a friendship that had endured for years, and it would cast dark shadows over the hobby they both loved.

What they found in the store that day was The Card.

Jay Zimmerman was at the same convention in Willow Grove, Pennsylvania, in 1985 when he got the call from his pal Bob Sevchuk, the owner of a sports-collectibles store in Hicksville. Sevchuk could barely contain his excitement as he told Zimmerman about a regular customer who had come into the shop with abounty of baseball cards. The man's name was Alan Ray, and Ray was eager to sell his wares, which included an outstanding T206 Honus Wagner card. Ray also had another rare and valuable card—a T206 Eddie Plank—as well as fifty to seventy-five other high-grade cards from the T206 series. This was like having a stranger walk into the local frame shop with a van Gogh, and Sevchuk knew that it was an opportunity for a big payday.

"Bob was selling it on consignment because he didn't want to lay out the money himself," Zimmerman said. "He asked me to approach people he knew who were into old cards."

Zimmerman's first stop at the show was Bill Mastro, then a thirty-three-year-old vintage-card connoisseur who had walked away from a career as a respiratory therapist just a few years earlier because he thought he could make more money selling cards and sports memorabilia. Mastro had been a fixture in the hobby since he was a teenager in Bernardsville, New Jersey, and he knew as much about old cards as anybody. Zimmerman told Mastro that Ray wanted $25,000 for a T206 Wagner card, an outrageous sum in those days even for the "Flying Dutchman." Mastro didn't flinch.

"You don't have to talk to anybody else," Mastro said. "I own it."

Mastro rounded up his old friend Lifson and told him he had a potential deal. They raced to Sevchuk's Long Island store with Lifson behind the wheel. "I got to go because I had the money," Lifson said. "I had no idea where we were going."

Mastro and Lifson had been friends for decades, bonding over their common zeal for trading cards and baseball memorabilia as boys. At twenty-five, the shaggy-haired Lifson was eight years younger than Mastro, a prodigy in the card-collecting hobby, a whiz kid who had begun dealing when he was ten years old. He and Mastro were buying, selling, and trading high-end cards before they could even shave, and their early partnership would help make both men formidable figures in the world of sports collectibles, eventual owners of two of the most prestigious sports auction houses in the world, Robert Edward Auctions and Mastro Auctions.

When he was barely in junior high, Lifson would track down Mastro at his college dorm in Bethlehem, Pennsylvania. Lifson was obsessed with baseball cards and with having a business built on them, and Mastro was just one of the many collectors he would routinely call on a daily basis.

"The monthly phone bill at our house was a big thing," Lifson said. "I'd call Bill all over the place. Someone would pick up the phone, and I'd say, 'Where can I reach him?' Bill has told a story for years about when I called and he's at a bar playing pool. The bartender says, 'Is there a Bill Mastro here?' "Of course, it was Lifson. "No one told me I couldn't deal with adults," Lifson said.

When they arrived at Sevchuk's store that day, long before the wheels would come off their relationship, they found Sevchuk bursting with excitement. He whisked Mastro to the back of the store while Lifson waited up front examining the cards and collectibles in the display cases. "Bill instructed me to stay in front," Lifson said, "and Bill was like my customer, so I did that."

When Mastro returned with Sevchuk, the three of them discussed where the card had come from and how they might get others in similar condition from the same source. He showed Lifson the card briefly, then tucked it into a briefcase, locked the case, and they drove off.

Mastro had seen millions of cards by then, but he'd never seen a card like this Wagner. It was as if the heavens had parted and a divine hand delivered the Holy Grail of trading cards to a strip mall in Hicksville, New York. "Everything about it gives the appearance of, 'Holy Moses, this is too good to be true,' " Mastro would say years later.

It was a rare find, truly a one-of-a-kind piece, the sort of discovery most collectors only dream about. Mastro said it looked great for a seventy-five-year-old piece of cardboard, with no creases, tears, or blemishes. Even better, the back featured an advertisement for Piedmont cigarettes. Although dozens of T206 Wagners are still in circulation, almost all feature ads for Sweet Caporals, another brand of cigarettes. Only a handful of T206 Wagners have Piedmont backs.

The Card
Collectors, Con Men, and the True Story of History’s Most Desired Baseball Card
. Copyright © by Michael O'Keeffe. Reprinted by permission of HarperCollins Publishers, Inc. All rights reserved. Available now wherever books are sold.
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Table of Contents

Prologue     1
Expressway to Fortune     9
King of the Hill     17
Tobacco Road     29
A Whole New Stratosphere     45
The Flying Dutchman     49
Citizen Wagner     63
Honus Gets a Makeover     71
The Card Gets a Pedigree     85
Marvin Money     95
PSA and the Doctors     107
Fall of a King     113
The Collector     127
Ain't Nothin' Like the Real Thing     141
Lost and Found     147
Fakes and Frauds     163
A White Knight     177
Million-Dollar Baby     187
Timeline     201
The Most Valuable Baseball Cards in the World     205
Notes     219
Authors' Note     243
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Sort by: Showing 1 – 3 of 2 Customer Reviews
  • Anonymous

    Posted July 16, 2007

    A reviewer

    The book raises some interesting questions about the Honus Wagner card, but fails to trace the early history of the card.

    2 out of 3 people found this review helpful.

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  • Anonymous

    Posted December 20, 2009

    No text was provided for this review.

  • Anonymous

    Posted June 4, 2011

    No text was provided for this review.

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