Few things elicit the adrenaline rush of snagging a legend’s rookie card. The player’s innocence, his untapped potential, and the invariably youthful image all combine to make rookie cards extremely collectible. Plus, everyone loves firsts.

Rookie cards of superstars are especially coveted. Jackie Robinson first appeared on 1948-49 Leaf and Hank Aaron debuted on a 1954 Topps. Roberto Clemente’s first baseball card was also a Topps, printed a year later in 1955.

Collectors have various reasons for obtaining rookie cards. One, no doubt, is an untarnished love of the game or adoration for a particular player, but in recent years, a major motivation has been pure speculation. Some people deliberately invest in the rookie cards of unproven players, hoping they will become stars one day and that their card will skyrocket in value. The most dramatic example of this occurred in the summer of 2010 with the escalation of prices for Washington Nationals’ pitcher Stephen Strasburg’s cards. Before Strasburg had thrown his first major-league pitch, his cards were selling on eBay for thousands of dollars.

Rookie cards tend to be a player’s most valuable baseball cards, but that isn’t always the case. For example, Mickey Mantle’s 1952 Topps card is widely considered more sought-after than his 1951 Bowman rookie card. Nor is Babe Ruth’s 1915 M101-5 Sporting News rookie card his most desired. In recent years, the historical preoccupation among collectors for rookie cards has been further eroded by the advent of specialty cards, such as game-used-jersey or game-used-bat cards, as well as autographed cards.

Some stars never had rookie cards. Lou Gehrig, for one, debuted in the big leagues in 1923 but did not have a baseball card until a 1932 U.S. Caramel card. Some collectors consider a player’s first card his rookie card—for them, that ’32 U.S. Caramel is Gehrig’s rookie card—while others believe a player’s rookie card must be released during his first season.

In 2006 there was a minor clamor to standardize what constituted a rookie card—card companies complied. Now, no player is eligible to have a rookie card until he is a member of his team’s 40-man roster (as a footnote, a player can still be in the minor leagues and on a 40-man roster at the same time). Once a player achieves this milestone, his first card is given a rookie logo on the front. As for minor league players, they get “first year cards” which mark a player’s pro debut, albeit in the minors.

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