T206

While the American Tobacco Trust, over three years and sixteen brands of cigarettes, distributed "tens or hundreds of thousands" of T206 cards for any given player,[3] it is estimated that only between 50 and 200 Wagner cards were ever distributed to the public,[4][5] and fewer still have survived to the present day. Several theories exist as to why the card is so rare. One theory is that the printing plate used to create Wagner's card broke early on in the production process, but Wagner was a major star at the time and new plates would almost certainly have been created. Another theory is that there was a copyright dispute between the American Tobacco Company and the artist who created the Wagner lithograph.[6]

The most commonly accepted theory is that the card was pulled from production because Wagner himself objected to the production of the card, but his motivation is unclear. Reports at the time indicated Wagner did not wish to associate himself with cigarettes,[7] possibly because he did not want to encourage children to smoke.[2] However, some collectors and historians have pointed out that Wagner, a user of chewing tobacco, allowed his image to appear on cigar boxes and other tobacco-related products prior to 1909 and may have objected to the card simply because he wanted more financial compensation for the use of his image.[2][8]

A high-quality example of the Wagner card was sold at auction on eBay in 2000 for US$1.265 million.[4] In February 2007, the same card was sold for a record US$2.35 million.[9]

In September 2007, the Wagner card changed hands again when SCP Auctions of Mission Viejo, California, which had bought minority ownership, brokered a new sale—this time for US$2.8 million, to a private collector. On August 1, 2008, noted memorabilia dealer John Rogers of North Little Rock, Arkansas paid US$1.6 million for a Professional Sports Authenticator 5MC (miscut) Wagner. Rogers stated he "was prepared to go much higher and is pleased with his investment." He added "the citizens of Arkansas deserve to see this treasure and I intend to make the card available to the public."[10] In November 2010, a group of nuns from Baltimore sold a Wagner card for $262,000 in auction to Doug Walton, a sporting card store owner.[11]

In April 2013, a T206 "jumbo" Wagner, so-called because it measured slightly larger than most other known examples, sold at auction for $2.1 million, reported to be a record price for the card.[12] That record was broken in October 2016 when the card was sold at auction for $3.12 million.[13]

In May 2021, a Wagner from a private collection sold for $3.75 million at auction, again setting a new sales record for the card. [14]

In August 2022, a Wagner sold for $7.25 million, resetting the record for the card. [15]

The iconic Honus Wagner card was reissued by Topps in 2002, with variations on its background color. The card was printed with the original 1909 orange color, and also in blue (#307).[16] In 2020, a new Honus Wagner card was issued by the company (#45) as part of the second wave (of 5) released that year.[17]