26-year-old collector buys 1952 Hank Aaron Indy Clowns postcard for $275,000

Brent G. · #1 12-01-2025, 12:09 PM

There's always talk about how vintage will die when everyone after Gen X rules the hobby and no one cares about old-time players.

This guy's guest shoots that theory down — he just sold everything in his collection except a Toleteros Josh Gibson to buy one of two known examples of the '52 Aaron Clowns PC for $275K!

LINK: https://www.youtube.com/watch?v=-uQ9EEaCDaQ

Discussion about the item specifically starts at 13:33, but it's all worth a watch.

There will ALWAYS be people who love and value the history.

raulus · #2 12-01-2025, 12:15 PM

Let's hope he has a lot of bougie friends that love vintage too.

Aquarian Sports Cards · #3 12-01-2025, 01:22 PM

I never understood that argument about vintage. How many of us saw Babe Ruth, Ty Cobb, King Kelly? Hell I never saw Mantle and I'm in my 50's.

packs · #4 12-01-2025, 01:56 PM

Quote:

Originally Posted by Aquarian Sports Cards

I never understood that argument about vintage. How many of us saw Babe Ruth, Ty Cobb, King Kelly? Hell I never saw Mantle and I'm in my 50's.

I think the thinking is that pre-war was only a generation before the boomers, so when the boomers all returned to cards from the 50s as they got older, it wasn't much a leap for them to get curious about cards from the 30s, 40s, etc. especially when their fathers or grandfathers probably did see them play and had stories from life to share.

But for today's younger collectors, the heyday of their hobby memories are more in the 80s, 90s and early 2000s eras, which leave quite a distance between their collective memory and pre-war.

I have a son. As he gets older he'll hear stories about Don Mattingly and the 1996 Yankees. I won't have any stories about Mickey Mantle either, except maybe for seeing him at card shows in the early 90s when I was really young.

Republicaninmass · #5 12-01-2025, 02:36 PM

Seems like your everyday 26 year old stubble beard card collector.

Not

Aquarian Sports Cards · #6 12-01-2025, 02:46 PM

Quote:

Originally Posted by packs

I think the thinking is that pre-war was only a generation before the boomers, so when the boomers all returned to cards from the 50s as they got older, it wasn't much a leap for them to get curious about cards from the 30s, 40s, etc. especially when their fathers or grandfathers probably did see them play and had stories from life to share.

But for today's younger collectors, the heyday of their hobby memories are more in the 80s, 90s and early 2000s eras, which leave quite a distance between their collective memory and pre-war.

I have a son. As he gets older he'll hear stories about Don Mattingly and the 1996 Yankees. I won't have any stories about Mickey Mantle either, except maybe for seeing him at card shows in the early 90s when I was really young.

Yes but there's an awful lot of Gen X'ers like myself in Pre War, that's two or more generations before our time. My dad's father was born in 1920. So you have to go back three or more generations to get to T206 or Old Judge. I think people like yelling "The sky is falling"

raulus · #7 12-01-2025, 02:51 PM

Quote:

Originally Posted by Aquarian Sports Cards

I think people like yelling "The sky is falling"

Probably more wishful thinking. If we all want it bad enough, prices will come down.

Brent G. · #8 12-01-2025, 02:57 PM

Quote:

Originally Posted by Aquarian Sports Cards

Yes but there's an awful lot of Gen X'ers like myself in Pre War, that's two or more generations before our time. My dad's father was born in 1920. So you have to go back three or more generations to get to T206 or Old Judge. I think people like yelling "The sky is falling"

I collected Canseco, Gooden, Mattingly, Bo, McGwire, etc. as a kid in the mid- to late-80s. Now I collect cards going back to 1886. All it took to get there was time, an interest in sports/U.S. history, and money. When I got that Jack Glasscock Allen & Ginter in hand for the first time, it changed everything for me. Hopefully subsequent generations have the same experience.

packs · #9 12-01-2025, 03:04 PM

Quote:

Originally Posted by Aquarian Sports Cards

Yes but there's an awful lot of Gen X'ers like myself in Pre War, that's two or more generations before our time. My dad's father was born in 1920. So you have to go back three or more generations to get to T206 or Old Judge. I think people like yelling "The sky is falling"

Well I'm only a decade or so younger than you and I was probably the only kid my age at any show looking at T206s and OJs. There weren't any peers for me. Everybody my age liked Griffey, which is probably why his UD rookie is so expensive now.

There are few of us. There may be more in the future but as a person who has collected their whole life, attended shows their whole life, there were never a lot of me. It's easy for me to see people of my generation coming back to Griffey, McGwire, Ichiro, etc. and it's even easy for me to see people my age getting into Ruth, Gehrig and Cobb.

But what I don't see in the future is an interest in type card collecting, in collecting lesser pre-war HOFers and I think a lot of the niche stuff we have now, like paying so strongly for an Art Whitney with Dog OJ or the premiums on the Shag or the Titus T206, is probably not the future of the hobby. I'm also unsure how much interest there will still be in complete sets in the future. Nobody really has any interest in complete sets now. I wonder if anyone ever completes, say, the newest 2025 Bowman Chrome first autograph set. I think cards like the tough T207s are nearing their end of hobby relevance.

Peter_Spaeth · #10 12-01-2025, 01:26 PM

Quote:

Originally Posted by raulus

Let's hope he has a lot of bougie friends that love vintage too.

"Bougie" lol.

Michael B · #11 12-01-2025, 03:28 PM

Quote:

Originally Posted by Peter_Spaeth

"Bougie" lol.

I find it amusing that a word which is meant to mean low class has been turned into a positive expression.

bk400 · #12 12-01-2025, 05:23 PM

Respect this guy for his conviction. He has good taste. Certainly smarter in terms of value than buying a Ferrari.

BioCRN · #13 12-01-2025, 05:33 PM

I was born in the 70s and started following baseball at a competent level around 1982. I got turned onto baseball card collecting in 1983 and the rest is my wallet's history.

I have a sizable collection of 1950s+ stuff from all teams, and of course my junk wax heroes. I didn't get to see most of the 1950s-1960s players in their time, but I've seen enough clips on TV and listened to enough people talk about them.

...but I have no interest in having cards of Babe Ruth, Cy Young, Walter Johnson, Ty Cobb, etc.

If it wasn't for caring about the deeper dive into Cubs team lineage history, I probably wouldn't be into the pre-war scene at all. I didn't get into it until I decided to get into the cards of the players I was reading about in team history books.

My 1800s-current Cubs collection has been (and still is) a fun chase and build. The pre-war part of that chase ends 13 cards from now...unless I discover another name I should add to the list...which occasionally happens.

Aquarian Sports Cards · #14 12-01-2025, 06:26 PM

Quote:

Originally Posted by BioCRN

I was born in the 70s and started following baseball at a competent level around 1982. I got turned onto baseball card collecting in 1983 and the rest is my wallet's history.

I have a sizable collection of 1950s+ stuff from all teams, and of course my junk wax heroes. I didn't get to see most of the 1950s-1960s players in their time, but I've seen enough clips on TV and listened to enough people talk about them.

...but I have no interest in having cards of Babe Ruth, Cy Young, Walter Johnson, Ty Cobb, etc.

If it wasn't for caring about the deeper dive into Cubs team lineage history, I probably wouldn't be into the pre-war scene at all. I didn't get into it until I decided to get into the cards of the players I was reading about in team history books.

My 1800s-current Cubs collection has been (and still is) a fun chase and build. The pre-war part of that chase ends 13 cards from now...unless I discover another name I should add to the list...which occasionally happens.

To me this is a GOOD example of how pre-war collectors are made and will continue to be made, even if you don't really consider yourself as one.

maniac_73 · #15 12-01-2025, 02:37 PM

Quote:

Originally Posted by raulus

Let's hope he has a lot of bougie friends that love vintage too.

Important point. The circle of high end collectors is actually very small and keeps getting smaller.

sb1 · #16 12-01-2025, 03:14 PM

Quote:

Originally Posted by maniac_73

Important point. The circle of high end collectors is actually very small and keeps getting smaller.

Actually, the pool of high-end collectors is at an all-time high, fresh money in large amounts is being thrown at more cards than ever before. In the old days we could count on one hand the high-end who were bidding on items in an auction or a player on the big cards at the shows, and list them by name. Now, people we have never heard of OR even thought were interested in vintage cards are making record size purchases...at shows, in auctions and privately.

puckpaul · #17 12-01-2025, 07:54 PM

Quote:

Originally Posted by sb1

Actually, the pool of high-end collectors is at an all-time high, fresh money in large amounts is being thrown at more cards than ever before. In the old days we could count on one hand the high-end who were bidding on items in an auction or a player on the big cards at the shows, and list them by name. Now, people we have never heard of OR even thought were interested in vintage cards are making record size purchases...at shows, in auctions and privately.

I agree. It makes no sense to me to say that the pool of buyers is shrinking as records keep getting set and almost everything vintage that we all want keeps going strong. With so many auctions and so much stuff for sale, the pool of vintage buyers is expanding.

premiercardcollectors · #18 12-01-2025, 08:38 PM

I deal with more and more guys in their 20s and 30s every day. Seems like they get started in 50s and 60s vintage and over time they strayed towards Pre-War. It�s great for the hobby and it�s great for our collections. Pre-War will likely always be a microcosm of the hobby but it brings a lot of attention.

Sent from my iPhone using Tapatalk

bk400 · #19 Yesterday, 05:49 AM

The more I think about it, the more I think that that Aaron postcard is massively undervalued.

Two known copies, and he has the one from Ed Scott.

Hank Aaron will resonate more with the younger generations than Babe Ruth, whose premier cards are going for 7 figures.

In 30 years, the 20-year olds today who then become much more financially independent as a generation, are going to gravitate toward a guy like Hank Aaron. The narrative is just so much purer than that of the Babe.

The 20 year olds today are going to want the rare Aarons and the Ohtanis.

Brent G. · #20 Yesterday, 06:57 AM

Quote:

Originally Posted by bk400

The more I think about it, the more I think that that Aaron postcard is massively undervalued.

Two known copies, and he has the one from Ed Scott.

Hank Aaron will resonate more with the younger generations than Babe Ruth, whose premier cards are going for 7 figures.

In 30 years, the 20-year olds today who then become much more financially independent as a generation, are going to gravitate toward a guy like Hank Aaron. The narrative is just so much purer than that of the Babe.

The 20 year olds today are going to want the rare Aarons and the Ohtanis.

I’d expect Jackie to grow substantially because of his overall societal impact, even more so if this hobby spreads to segments other than white males.

The younger generations also love sports gambling, so Pete Rose should be an icon.

Gorditadogg · #21 Yesterday, 09:41 AM

Jonah, thank you for posting and sharing your story. Your Aaron and Gibson pieces are both incredible. The Negro Leagues were so important to the game of baseball and there are so few artifacts to collect. Congratulations!

I hope you are right that interest in vintage cards will continue to grow. My 37 year old son still likes modern, but I am holding out hope for him.

Sent from my SM-S906U using Tapatalk

brunswickreeves · #22 Yesterday, 11:36 AM

To the question at hand, choice between a 1:2 ’52 IC Aaron pre-rookie, or a 1:25 PSA 9 ’54 Topps Aaron rookie…there are a couple of ways to look it: Long-term investment or PC, positives and negatives.

’52 IC Aaron pre-rookie:
Positive: Negotiating power-With the owner effectively controlling 50% of the market and retaining approximately 50% of the market cap, they can set future auction reserve and move the market inorganically to the desired minimum exit price. Thus, the sky’s the limit…$400K(ish) is possible to match the established market of the PSA 9 ’54 Topps Aaron rookie. If current buyer paid up about 40% in 1 year ($199K to $275K), perhaps another buyer would pay up 40% next to $385K? However, given current buyer is specifically an Aaron collector and lives in Atlanta, there’s a specific xfactor of nostalgic and regional connection that could be driving individual demand. There’s significant upside from an investment standpoint, given possible ROI.
Negative: Price volatility-The case study of the Baltimore News Ruth pre-rookie proved just because one person pays up for a super scarce card, doesn’t guarantee the next won’t actually pay less. This effectively created a ‘down round’ as it were. However, that may have been a function of timing, marketing opportunity, and/or pricing strategy. There’s a significant upside from a PC perspective, given ROI wouldn’t matter if the card’s held in perpetuity.

’54 Topps Aaron rookie:
Positive: Mature market-There’s a well established market for the PSA 9, created by hundreds of transactions over many decades, moving the price organically up to $400K. Additionally, there are an unknown number of PSA 8 owners whom could be high potential bidders and acquirers of the PSA 9 as an upgrade of the PSA 8 version they already have invested in and committed to. However, 1:25 is less appealing than 1:2. There’s significant upside from an investment standpoint, given the protective moat created by a well established market.
Negative: Alternative investment-The elephant in the room is that a $400K price point can buy a collector pretty much any card they want. So at this level, it’s not ’54 Topps Aaron vs. ’52 IC Aaron, but Aaron’s vs. ’50 Toleteros Gibson vs. ’52 Topps Mantle vs. ’14 CJ Joe Jackson, and on and on. I’m a fractional CFO and financial modeling consultant, and advise companies through raising millions in investment capital, reminding CEO’s that VCs and PE firms don’t have a choice between equity in their company vs. sitting on their capital, but rather their company vs. hundreds of other investment options (including pretty much a satisfaction guarantee in vintage baseball cards!). There’s a significant upside from a PC perspective, given this card is the rookie of one of the game’s most influential and transcending players.

So the answer, classically is, it depends…

jd9cards · #23 Yesterday, 05:38 PM

Quote:

Originally Posted by brunswickreeves

To the question at hand, choice between a 1:2 ’52 IC Aaron pre-rookie, or a 1:25 PSA 9 ’54 Topps Aaron rookie…there are a couple of ways to look it: Long-term investment or PC, positives and negatives.

’52 IC Aaron pre-rookie:
Positive: Negotiating power-With the owner effectively controlling 50% of the market and retaining approximately 50% of the market cap, they can set future auction reserve and move the market inorganically to the desired minimum exit price. Thus, the sky’s the limit…$400K(ish) is possible to match the established market of the PSA 9 ’54 Topps Aaron rookie. If current buyer paid up about 40% in 1 year ($199K to $275K), perhaps another buyer would pay up 40% next to $385K? However, given current buyer is specifically an Aaron collector and lives in Atlanta, there’s a specific xfactor of nostalgic and regional connection that could be driving individual demand. There’s significant upside from an investment standpoint, given possible ROI.
Negative: Price volatility-The case study of the Baltimore News Ruth pre-rookie proved just because one person pays up for a super scarce card, doesn’t guarantee the next won’t actually pay less. This effectively created a ‘down round’ as it were. However, that may have been a function of timing, marketing opportunity, and/or pricing strategy. There’s a significant upside from a PC perspective, given ROI wouldn’t matter if the card’s held in perpetuity.

’54 Topps Aaron rookie:
Positive: Mature market-There’s a well established market for the PSA 9, created by hundreds of transactions over many decades, moving the price organically up to $400K. Additionally, there are an unknown number of PSA 8 owners whom could be high potential bidders and acquirers of the PSA 9 as an upgrade of the PSA 8 version they already have invested in and committed to. However, 1:25 is less appealing than 1:2. There’s significant upside from an investment standpoint, given the protective moat created by a well established market.
Negative: Alternative investment-The elephant in the room is that a $400K price point can buy a collector pretty much any card they want. So at this level, it’s not ’54 Topps Aaron vs. ’52 IC Aaron, but Aaron’s vs. ’50 Toleteros Gibson vs. ’52 Topps Mantle vs. ’14 CJ Joe Jackson, and on and on. I’m a fractional CFO and financial modeling consultant, and advise companies through raising millions in investment capital, reminding CEO’s that VCs and PE firms don’t have a choice between equity in their company vs. sitting on their capital, but rather their company vs. hundreds of other investment options (including pretty much a satisfaction guarantee in vintage baseball cards!). There’s a significant upside from a PC perspective, given this card is the rookie of one of the game’s most influential and transcending players.

So the answer, classically is, it depends…

This is a very 'consultant' answer. I am also in consulting lol. But you didn't answer the question. Which would you prefer?

I appreciate the points you raised about the strengths and weaknesses of each option. The Baltimore News Ruth is actually a fascinating comparison to the Aaron. Both pieces fall outside the strict definition of a “card,” and both are scarce pre-rookies. But one thing that still stands out to me is the population and valuation gap: Aaron sits at 2 known copies versus roughly 10 for the Ruth, and a ~$275K valuation versus a ~$4M card even after shedding $3M on its most recent sale.

That puts the implied market cap for the Ruth around $40M and the Aaron around $500K. To me, that discrepancy feels difficult to justify. Should Ruth really trade at an 80x multiplier? I’m not arguing the Aaron should be worth anywhere near half of Ruth’s market cap, but I do believe there’s meaningful room for growth. And yes—I fully admit my bias.

A similar comparison can be done with the 1952 Indianapolis Clowns Aaron and the 1954 Topps Aaron PSA 9 from a market cap and relative value perspective. I think at minimum the PSA 9 Aaron and the Postcard should be worth the same amount

brunswickreeves · #24 Yesterday, 11:44 PM

Quote:

Originally Posted by jd9cards

This is a very 'consultant' answer. I am also in consulting lol. But you didn't answer the question. Which would you prefer?

I appreciate the points you raised about the strengths and weaknesses of each option. The Baltimore News Ruth is actually a fascinating comparison to the Aaron. Both pieces fall outside the strict definition of a “card,” and both are scarce pre-rookies. But one thing that still stands out to me is the population and valuation gap: Aaron sits at 2 known copies versus roughly 10 for the Ruth, and a ~$275K valuation versus a ~$4M card even after shedding $3M on its most recent sale.

That puts the implied market cap for the Ruth around $40M and the Aaron around $500K. To me, that discrepancy feels difficult to justify. Should Ruth really trade at an 80x multiplier? I’m not arguing the Aaron should be worth anywhere near half of Ruth’s market cap, but I do believe there’s meaningful room for growth. And yes—I fully admit my bias.

A similar comparison can be done with the 1952 Indianapolis Clowns Aaron and the 1954 Topps Aaron PSA 9 from a market cap and relative value perspective. I think at minimum the PSA 9 Aaron and the Postcard should be worth the same amount

Ah, you joust! The scarcity and potential upside on the ‘52 Aaron is appealing. Aesthetically, however, I prefer the ‘54 Aaron-love how that card pops and the key data/info on the back. Given a choice, I’d pick the guaranteed $400K ‘54 Aaron, sell that, and offer you $350K for the ‘52 Aaron. I’d spend the rest on a decent ‘52 Topps Mantle or Wagner Tip Top Bread.

raulus · #25 Yesterday, 11:59 PM

Quote:

Originally Posted by jd9cards

That puts the implied market cap for the Ruth around $40M and the Aaron around $500K. To me, that discrepancy feels difficult to justify. Should Ruth really trade at an 80x multiplier? I’m not arguing the Aaron should be worth anywhere near half of Ruth’s market cap, but I do believe there’s meaningful room for growth. And yes—I fully admit my bias.

A similar comparison can be done with the 1952 Indianapolis Clowns Aaron and the 1954 Topps Aaron PSA 9 from a market cap and relative value perspective. I think at minimum the PSA 9 Aaron and the Postcard should be worth the same amount

I’ve never really understood the whole market cap concept when it comes to individual cards. It’s not like there’s some underlying assets or income-generating business to compare it to…

Peter_Spaeth · #26 Today, 12:20 AM

Quote:

Originally Posted by raulus

I’ve never really understood the whole market cap concept when it comes to individual cards. It’s not like there’s some underlying assets or income-generating business to compare it to…

LOL. To me, no offense to Jonah, it's just jargon for a faux precise guess at value.

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