Rare Honus Wagner card could sell for $3 million

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A baseball card auction being held in New York City is going to have an amazing lineup. Some rare cards will be hitting the auction block.

It may be a strikeout with the casual fan, but to collectors the Great American Trading Card Auction is a grand slam. From Mickey Mantle to Roberto Clemente and Hank Aaron, the most prized cards await a new home.

"These represent the best trading cards in the business, the highest grade cards, the rarest cards of the most collectible and well-known players," said Ken Goldin of Goldin Auctions.

In the 50-card auction are multiple cards that are one of one, meaning it is the only one that exists in the world or at its tier.

"The least valuable one is about $10,000," Goldin said. "The most valuable one is potentially $5 million, of course the T206 Wagner."

That's right: $5 million! The "Jumbo Wagner" trading card is the center of auction attention, in position to become the most valuable piece of sports memorabilia.

"There are about 50 or 60 that exist in the world, but we're selling one of the single highest graded," Goldin said.

That grade is an "Excellent 5." Trading cards are graded on a 10-point scale, and any card flaws are noted separately. With the famed 1909 Honus Wagner, the "5" means there is no wear on it noticeable enough to detract from its appeal. In fact, what could be considered a mistake -- the miscut at the bottom -- gives it its jumbo boundaries and most recognizable and admired feature.

The Wagner last sold for $2.1 million. While it could potentially sell for $5 million this time around, hitting even $3 million would be a record -- the first trading card to ever break that mark. Bidding is already at $1.8 million and it continues until October 1, 2016.